Movers: Beazer Homes, MasterCard, Bear Stearns
Beazer Homes USA (BZH) shares skid on speculation that the homebuilder might file for bankruptcy. Beazer calls the market rumors about the company's liquidity and a prospective bankruptcy filing scurrilous and unfounded.
MasterCard (MA) posts $1.85 second quarter EPS, vs. $2.30 loss (including special items), on 18% revenue rise.
The Wall Street Journal reports that Bear Stearns Cos. (BSC) has prevented investors from taking their money from a hedge fund that put some $900 million in mortgage investments. S&P reiterates sell on Bear Stearns shares.
Garmin Ltd. (GRMN) posts $0.98, vs. $0.56 a year ago, second quarter EPS on a 72% total revenue rise.
Chipotle Mexican Grill (CMG) posts $0.60, vs. $0.33 a year ago, second quarter EPS on 12% higher same-store sales, 34% higher total revenue. It raises 2007 same-store sales expectation to high single to low double digit range. S&P upgrades to buy.
Buffalo Wild Wings (BWLD) posts $0.22, vs. $0.14 a year ago, second quarter EPS on 8.1% rise in the company-owned same-store sales and 22% higher total revenue. The stock was indicated lower as reports indicate same-store sales growth was below expectations.
Dow Jones & Co. (DJ) agrees to be acquired by News Corp. (NWS) in a $5.6 billion deal. Terms: $60 in cash for each DJ share, each Class B share.
Whole Foods Market (WFMI) posts third quarter EPs of $0.35, vs. $0.35 a year ago, on 7% same-store sales rise and 13% total sales rise. Longer term, it expects to reach $12 billion in sales in fiscal year 2010. S&P reiterates hold.
Qwest Communications (Q) posts lower-than-expected $0.13, vs. $0.06 a year ago, second quarter EPS as lower operating expenses offset slightly lower operating revenue. S&P maintains sell.
Citigroup upgrades Apple (AAPL) to buy from hold following Tuesday's sharp pullback, maintains $160 target price. On Tuesday, Apple was lower on an unconfirmed report that said Apple may be cutting production of iPods and/or iPhones.
DreamWorks Animation (DWA) ppsts $0.60, vs. $0.13 a year ago, second quarter EPS on a sharp revenue rise. It cites strong Shrek the Third release. S&P raises target price; keeps hold.
MetLife (MET) posts $1.72, vs. $1.28 a year ago, second quarter operating EPS on 7.3% rise in premiums. It raises 2007 operating EPS guidance to $5.65-$5.80 from $5.05-$5.30.
Moody's (MCO) posts $0.76, vs. $0.58 a year ago, second quarter EPS (excluding legacy tax benefit) on 26% revenue rise. It reaffirms 2007 EPS guidance at a low- to mid-teens percent growth, revenues in mid-teens percent growth. It sets $2 billion stock buyback.
Tupperware Brands (TUP) posts $0.56, vs. $0.41 a year ago, second quarter EPS on 12% higher sales. It sees $0.18-$0.23 third quarter EPS on $432-$440 million sales, $1.85-$1.90 2007 EPS on $1.89-$1.93 billion in sales.
Boyd Gaming (BYD) posts $0.45, vs. $0.49 a year ago, second quarter adjusted EPS from continuing operations on 7.2% lower net revenue.
Sanofi-Aventis (SNY) posts €1.74 million, vs.
€1.797 million second quarter EPS despite 2.3% sales rise on comparable basis.
RealNetworks (RNWK) posts $0.05, vs. $0.03 a year ago, second quarter adjusted EPS on a 52% revenue rise. It expects third quarter revenue of $141-$145 million, adjusted EPS of $0.02-$0.04, and 2007 revenue of $561-$573 million and adjusted EPS of $0.21-$0.24.
Jones Apparel Group (JNY) posts $0.17, vs. $0.39 a year ago, second quarter EPS (excluding items) on 2% lower revenue. It lowers 2007 EPS target to $1.28-$1.34. Separately, it decides that the revised bid from Fast Retailing to buy its Barneys N.Y. unit is a "superior" offer.