Movers: Checkfree, Accredited Home Lenders, Nokia
Fiserv (FISV) agrees to acquire Checkfree (CKFR) in all-cash deal valued at about $4.4 billion. Terms: CKFR holders to get $48 for each share held. Fiserv expects the transaction to add to its underlying cash EPS in 2008.
Accredited Home Lenders (LEND) says based on unprecedented market events, the likelihood of it achieving profitable operations in the near term, and possibly for an extended period of time, is no longer likely. It says it cannot assure it will continue to operate as a going concern.
Nokia (NOK) posts €0.32 (excluding special items), vs. EUR €0.28 a year ago, second quarter EPS on a 28% sales rise. The company expects industry mobile device volumes in the third quarter to be slightly up sequentially, and sees its device market share in the third quarter increasing sequentially.
Electronic Arts (ERTS) posts $0.25 first quarter loss per share, vs. $0.20 loss from operations a year ago, on 4% lower sales. S&P maintains sell.
Morningstar (MORN) posts $0.38, vs. $0.24 a year ago, second quarter EPS on 44% higher revenue.
Clorox (CLX) posts $1.07, vs. $0.92 a year ago, fourth quarter EPS on 1.9% sales rise. It says it's disappointed that sales and volume growth were lower than anticipated. It sees $3.27-$3.46 fiscal year 2008 EPS, including charges.
Invitrogen (IVGN) posts $1.15, vs. $0.85 a year ago, second quarter non-GAAP EPS on 13% revenue rise. It sees 2007 revenue growth in the mid-single digits; non-GAAP EPS is expected to grow about 3-4 times the rate of revenue. S&P reiterates buy.
Pharmion (PHRM) jumps on news that in a Phase 3 trial, says Vidaza treatment (for patients with higher-risk myelodysplastic syndromes) was associated with median survival of 24.4 months vs. 15 months for those receiving conventional care regimens treatment.
Mattel (MAT) voluntarily recalls some products made by contract manufacturer in China that were produced using non-approved paint pigment containing lead, which is in violation of applicable standards and Mattel's self-imposed standards.
Walt Disney (DIS) posts $0.58, vs. $0.51 a year ago, third quarter EPS from continuing operations on 6.7% revenue rise. It acquires Club Penguin (online virtual worlds for kids). S&P maintains strong buy.
Viacom (VIAB) posts better-than-expected $0.54 (before one-time gains), vs. $0.54 a year ago, second quarter EPS. S&P maintains hold.
CVS Caremark (CVS) posts $0.47, vs. $0.40 a year ago, second quarter EPS (including merger related costs) on sharp revenue rise.
Eastman Kodak (EK) posts $0.47 second quarter loss per share, vs. $1.24 loss a year ago, as lower SG&A and R&D costs offset 7% lower worldwide sales. It continues to forecast 2007 digital revenue growth of 3%-5%, with total revenue expected to be down between 4%-7%.
Molex (MOLX) posts $0.18, vs. $0.38 a year ago, fourth quarter EPS (both including items) on slight revenue decline (local currency) and gross margin pressure. It cites weak mobile phone market. It ups quarterly dividend by 50% to $0.1125. S&P cuts estimate and target.
CA Inc. (CA) posts $0.24, vs. $0.06 a year ago, first quarter GAAP EPS on 8% revenue rise. It raises fiscal year 2008 EPS view to $0.75-$0.81 on revenue of $4.05-$4.1 billion.
Las Vegas Sands (LVS) posts $0.23, vs. $0.34 a year ago, second quarter adjusted EPS as higher net interest expense, $11.3 million in depreciation and amortization offset 19% revenue rise. S&P maintains hold, cuts estimate.
Wellcare Health (WCG) posts $1.30, vs. $0.55 a year ago, second quarter EPS on a 57% total revenue rise. It sees $1.48-$1.51 third quarter EPS. It updates 2007 EPS guidance to $5.00-$5.50 on $5.2-$5.3 billion revenues
Axcelis Technology (ACLS) psts $0.05, vs. $0.12 a year ago, second quarter EPS on 6.4% revenue decline. It sees $0.02 third quarter EPS on revenue of $110-$120 million.