Movers: Apple, Amazon.com, Boeing, NutriSystem
Apple (AAPL) shares rise in after-hours trading after the Mac, iPod and iPhone maker reports third quarter revenue of $5.41 billion and net profit of $818 million, or $0.92 per share, up from revenue of $4.37 billion and profit of $472 million, or $0.54 per share a year ago. Gross margin was 36.9%, up from 30.3% a year ago.
Amazon.com (AMZN) posts $0.19, vs. $0.05 a year ago, second quarter EPS on a 35% sales rise. It sees $3-$3.175 billion third quarter sales; $13.8-$14.3 billion 2007 sales, with operating income of $540-$640 million. RBC Capital upgrades, while S&P keeps sell opinion on valuation.
Boeing (BA) posts $1.35, vs. $0.56 a year ago, second quarter EPS (adjusted) on a 14% revenue rise. The aircraft maker raises 2007 EPS guidance to $4.80-$4.95 and operating cash flow to $6 billion. It expects to deliver between 440-445 airplanes this year and 515-520 next year.
Tribune (TRB) posts $0.18, vs. $0.28 a year ago, second quarter EPS on a 6.8% revenue drop. It says second half year-over-year comps will ease and new revenue initiatives are expected to contribute to publishing results. It says its going-private deal is on track and financing is fully committed.
Dade Behring Holdings (DADE) agrees to be acquired by Siemens AG (SI) for $77.00 per share in cash, or $7 billion. Separately, Dade posts $0.61 vs. $0.42 second quarter EPS. S&P maintains hold on Dade Behring. Also, Siemens reported $1.01 vs. $1.52 third quarter earnings per ADS.
BladeLogic (BLOG), a provider of data center automation software, shot up $8.07 to $25.07 in its initial 5 million shares offering priced at $17 per share.
NutriSystem (NTRI) posts $0.96, vs. $0.53 a year ago, second quarter EPS on 61% revenue rise. It sees $0.77-$0.82 second quarter EPS on $200-$208 million revenue (vs. second quarter's $213.6 million). Lehman reportedly downgrades to equal-weight from overweight.
Corning (GLW) posts $0.34 (excluding charges), vs. $0.32 a year ago, second quarter EPS on 13% sales rise. It cites strong consumer demand for LCD applications. It sees $0.34-$0.37 third quarter EPS (excluding items) on $1.525-$1.575 billion sales. S&P keeps strong buy.
Xerox (XRX) posts $0.28, vs. $0.26 a year ago, second quarter EPS on 6% revenue rise. The printer maker raises 2007 EPS guidance to $1.16-$1.18.
Snap-On (SNA) posts $0.90, vs. $0.60 a year ago (excluding franchisee settlement charge) second quarter EPS from continuing operations on a 14% revenue rise. S&P upgrades to buy from hold. Janney Montgomery upgrades to buy.
Chubb (CB) posts $1.60, vs. $1.35 a year ago, second quarter operating EPS despite a 1% decline in total net written premiums. It says its combined loss/expense ratio was 82.7% vs. 85.2%. The insurer raises 2007 operating EPS guidance to $5.70-$6.10.
GlaxoSmithKline (GSK) posts 9% rise in second quarter operating profit on 3% revenue rise. While it recognizes uncertainty around future sales of Avandia, it maintains 2007 EPS growth guidance of 8%-10%. It ups its stock buyback play by £12 billion.
Robert Half International (RHI) posts $0.44, vs. $0.39 a year ago, second quarter EPS on 17% revenue rise. Goldman reportedly downgrades to neutral from buy.
PRA International (PRAI) agrees to be acquired by affiliates of Genstar Capital in a $790 million deal. Terms: $30.50 cash for each PRAI share. Also, the company posts $0.24 (adjusted), vs. $0.28 a year ago, second quarter EPS despite 29% service revenue rise.
Boston Scientific (BSX) plans to explore a sale of its fluid management business as part of its ongoing review of its portfolio of assets.
STMicroelectronics (STM) posts $0.84 second quarter operating loss, vs. $0.18 EPS a year ago (including impairment and restructuring costs in both periods), on 3.1% lower net revenues. It sees 2%-7% sequential sales growth in the third quarter.
Ethan Allen Interiors (ETH) posts $0.65, vs. $0.66 a year ago, fourth quarter EPS on 5.0% lower sales. It believes it has opportunity to realize fiscal year 2008 EPS within current range of analyst estimates. Boosts quarterly dividend 10% to $0.22 per share... Sets 2.5M-share buyback.
Colgate-Palmolive (CL) posts $0.84, vs. $0.72 second quarter EPS (excl. restructuring) on 13% higher worldwide sales.
Genzyme (GENZ) posts $0.88, vs. $0.68 a year ago, second quarter non-GAAP EPS on an 18% revenue rise. It expects to exceed its 2007 non-GAAP EPS guidance of $3.20-$3.30; now sees $3.35-$3.40. It expects compound non-GAAP EPS growth of 20% over next 5-years.