Movers: Verizon, IHOP, ABN Amro, Blue Nile
Vodafone (VOD) reportedly says it has no plans to make an offer for Verizon Communications (VZ) in response to a Financial Times Alphaville report that Vodafone is mulling $160 billion offer for Verizon. S&P maintains hold.
Applebee's International (APPB) agrees to be acquired by IHOP Corp. in $2.1 billion deal. Terms: $25.50 cash per APPB share. Separately, Applebee's posts flat June same-store sales. Applebee's sees $0.30 second-quarter EPS, includes $0.03 impact from items.
McDonald's (MCD) sees about $0.71 second quarter EPS from continuing operations (excluding a charge related to developmental license transaction) on 7.4% higher global same-store sales. The fast food chain posts 8.4% higher June global same-store sales.
A consortium led by Royal Bank of Scotland Group PLC reportedly increases cash terms of its €71 billion offer to acquire ABN Amro Holding (ABN) to about 93% from 70%. The offer excludes ABN's LaSalle Bank unit.
AMREP Corp. (AXR) declares special cash dividend of $1.00 per share, and sets a 500,000 share buyback. It posts $1.19, vs. $1.56 a year ago, fourth quarter EPS from continuinig operations despite 1.0% revenue rise.
Blue Nile (NILE) rises after Citigroup upgrades to buy from hold.
Spartech (SEH) cuts $1.55-$1.62 fiscal year 2007 EPS view to $1.45-$1.50. It cites a challenging demand environment, particularly in transportation and residential construction markets. It announces the resignation of CEO and President George Abd.
DJO Inc. (DJO) agrees to be acquired by an affiliate of ReAble in a $1.6 billion deal, including the assumption of debt. Terms: $50.25 cash per DJO share. An affiliate of Blackstone Group (BX) is the controlling shareholder of ReAble.
Mattel (MAT) posts second quarter EPS of $0.11, vs. $0.10 a year ago, on 6.5% sales rise.
Eaton (ETN) posts better-than-expected $1.64, vs. $1.64 a year ago, second quarter GAAP EPS on 4% sales growth. It sees third quarter GAAP EPS of $1.50-$1.60 and raises 2007 guidance by $0.30 to $6.50-$6.70.
W.W. Grainger (GWW) posts $1.21, vs. $1.02 a year ago, second quarter EPS on 8.0% sales rise. It raises $4.70-$4.85 2007 EPS guidance to $4.75-$4.90.
Avid Technology (AVID) announces the departure of its president, CEO and board member David Krall. The company reaffirms second quarter guidance of $220-$230 million revenue, non-GAAP EPS of $0.15-$0.20.
Dynacq Healthcare (DYII) jumps after it posts $0.16 third quarter EPS from continuing operations, vs. $0.03 loss per share a year ago, on 61% revenue rise.
Art's Way Manufacturing (ARTW) rises after the company posts $0.28, vs. $0.08 a year ago, second quarter EPS on 39% sales rise.