Movers: Google, Microsoft, Caterpillar, Intuitive Surgical
Google (GOOG) posts second quarter GAAP EPS of $2.93, vs. $2.33 a year ago, on a 58% revenue rise. It expects to continue to make "significant" capital expenditures in 2007. S&P reiterates hold, while Needham trims estimates but keeps buy.
Microsoft (MSFT) posts $0.39 (excluding $0.08 charge), vs. $0.31 a year ago, fourth-quarter EPS on a 13% revenue rise. It sees $0.38-$0.40 first quarter EPS on revenue of $12.4-$12.6 billion; $1.69-$1.73 fiscal year 2008 EPS on $56.8-$57.8 billion revenue.
Caterpillar (CAT) posts $1.24, vs. $1.52 a year ago, second quarter EPS as a negative swing in on-highway truck engine profitability, weakness in North American machine sales, supply chain disruptions, and higher material costs offset a 7.1% revenue rise.
Intuitive Surgical (ISRG) jumps after posting second quarter EPS of $0.79, vs. $0.44 a year ago, on a 61% revenue rise. It says revenue growth continues to be driven by strong procedure adoption. S&P raises target, keeps buy, while Bear Stearns upgrades to outperform.
Citigroup (C) posts $1.24, vs. $1.05 a year ago, second quarter EPS from continuing operations on a 20% revenue rise. It says record revenue was led by a 34% growth in international revenue. S&P reiterates strong buy on the stock.
Wachovia (WB) posts $1.23, vs. $1.18 a year ago, second quarter EPS (excluding charges). It says all four of its major business delivered double-digit earnings growth, fueled by new markets, revenue growth initiatives, and expanded product set.
Capital One Financial (COF) posts $1.89, vs. $1.78 a year ago, second quarter EPS on 30% higher net interest come. It affirms 2007 EPS guidance of $7.00-$7.40, with current expectations towards lower end of that range. S&P maintains hold.
Whirlpool (WHR) posts $2.00, vs. $1.26 a year ago, second quarter EPS from continuing operations on a 2.5% sales rise. It continues to expect 2007 EPS from continuing operations of $8.00-$8.50.
Seagate Technology (STX) posts $0.96, vs. $0.01 a year ago, fourth quarter GAAP EPS on a tax benefit and 8.5% revenue rise. It sees first quarter revenue of $2.9-$3.0 billion, GAAP EPS of $0.35-$0.39. S&P maintains buy, while Bear Stearns upgrades to outperform from peer perform.
SanDisk (SNDK) posts $0.30, vs. $0.58 a year ago, second quarter non-GAAP EPS as lower gross profits offset 15% revenue rise. S&P reiterates hold.
Oak Hill Financial (OAKF) agrees to be acquired by WesBanco (WSBC). Terms: OAKF holders to get either 1.256 WSBC shares or $38 in cash per OAKF share.
GPC Biotech AG (GPCB) falls after a FDA committee raises 5 issues on the company's satraplatin, which include: definition of one of the two primary endpoints; two independent radiology readers disagreed on progression status in 367 of 950 patients.
Schlumberger (SLB) posts $1.02, vs. $0.69 a year ago, second quarter EPS on 20% revenue rise. S&P maintains buy.
Boston Scientific (BSX) posts $0.08 second quarter GAAP EPS, vs. $3.21 loss (including charges) despite a 1.8% sales drop. It sees $2.0-$2.1 billion third quarter sales, $0.03-$0.08 GAAP EPS.
Brunswick (BC) lowers 2007 EPS from continuing operations guidance to $1.20-$1.35 from $1.65-$2.00. It cites the effect of lower sales, lower fixed-cost absorption from production cuts, among other factors.
First Data (FDC) posts $0.30, vs. $0.33 a year ago, second quarter EPS from continuing operations as $0.07 worth of favorable items in year-ago quarter offset 16% revenue rise. It sees $1.20-$1.26 2007 EPS from continuing operations, excluding costs tied to pending merger with an affiliate of KKR.
Broadcom (BRCM) posts $0.06, vs. $0.18 a year ago, second quarter GAAP EPS on 4.6% revenue decline.