Movers: Wal-Mart, Medtronic, Nordstrom, PepsiCo

Thursday's stocks in the news

Wal-Mart Stores (WMT) posts 6.4% higher September same-store sales at Wal-Mart Stores. It expects October same-store sales to be between flat to up 2%. It raises $0.62-$0.65 third quarter EPS from continuing operations guidance to $0.66-$0.69.

Medtronic (MDT) says an FDA advisory panel has recommended that its Endeavor drug-eluting stent for conditional approval as a treatment for coronary artery disease. S&P raises estimates, target; maintains buy.

Beazer Homes USA (BZH) says for the fourth quarter, preliminary home closing declined 39% from a year ago, preliminary net new home orders declined 52%, driven largely by an unusually high cancellation rate which attributes to pronounced tightening in mortgage markets. It plans to restate financial results for fiscal years 2004 to 2006.

Nordstrom (JWN) cuts $0.61-$0.64 third quarter EPS forecast to $0.50-$0.53. It posts 3.2% higher September same-store sales, 4.1% total sales rise.

PepsiCo (PEP) posts $1.06, vs. $0.89 a year ago, third quarter EPS on 11% revenue rise. Excluding impact of a tax benefit, core third quarter 2007 EPS were $0.99. The beverage and food maker sees 2007 reported EPS of at least $3.39, maintains core EPS guidance of at least $3.35.

J.C. Penney (JCP) posts 4.6% lower September same-store sales, 1.2% lower total department store sales. Total Direct sales fell 8.5%. It cuts $1.28 third quarter EPS guidance to $1.00-$1.04.

Gap (GPS) posts 7% lower September same-store sales, 3% lower total sales.

Macy's (M) posts 2.7% lower September same-store sales, 1.1% lower total sales. It says it had guided for 1%-3% decline in comps. It sees October comps in range of down 1% to up 2%.

AnnTaylor Stores (ANN) posts 0.5% higher September same-store sales, 6.2% higher total sales.

Mothers Work (MWRK) posts 7% lower September same-store sales, 6.2% total sales drop. It notes with lower-than-planned sales, gross margin for fourth quarter, as well as increased legal expense, now sees fourth quarter loss of $0.89-$0.93 per share, vs. prior guidance of breakeven to $0.27 loss.

Men's Wearhouse (MW) cuts $0.70-$0.73 third quarter EPS to $0.66-$0.70. It cites weaker-than-planned comparable store sales at its K&G stores, lower tuxedo rental unit volume.

Anerican Eagle Outfitters (AEO) posts 2% lower September same-store sales, 5% lower total sales. It lowers $0.47-$0.48 third quarter EPS guidance to $0.44-$0.45.

Ruth's Chris Steak House (RUTH) posts 0.4% decline in third quarter company-owned same-restaurant sales. It notes 3.6% decline in entrees sold. It sees total third quarter revenues from continuing operations, including franchise and other income, of $70.0-$70.2 million. S&P cuts estimates, target; keeps hold.

WebSense (WBSN) expects third quarter billings of about $52.2 million, below its guidance range. It sees third quarter revenue of about $50.4 million, net of approximately $950,000 in joint marketing programs with channel partners. It expects non-GAAP EPS to be within previously-guided range of $0.22-$0.23.

Infosys Technologies (INFY) posts $0.48, vs. $0.35 a year ago, third quarter EPS on 37% revenue rise. It notes it proactively hedging its currency exposures to mitigate impact of appreciating rupee.

Audiovox (VOXX) posts $0.16 second quarter EPS, vs. $0.09 loss per share a year ago, on 52% higher revenue.

Stein Mart (SMRT) posts 9.1% lower same-store sales, 3.2% lower total sales. With significant shortfall in sales quarter-to-date, now expects comparable store sales to decrease 6%-7% for third quarter, $0.15-$0.18 loss.

Zumiez (ZUMZ) posts 14% higher September same-store sales, 12% higher total sales.

Lam Research (LRCX) says first quarter revenue (preliminary) were $684.6 million, vs. $678.5 million in the fourth quarter of fiscal year 2007. Shipments for the first quarter were about $621 million, vs. approximately $694 million in fourth quarter fiscal year 2007. Preliminary gross margin was 50.2% of revenue.

Ruby Tuesday (RT) posts $0.21, vs. $0.37 a year ago, first quarter EPS on 4.8% lower company-owned same-store sales, 2.9% lower franchise same-store sales. It sees $0.01-$0.03 second quarter EPS on 6%-8% decline in co.-owned same-store sales. It sees $1.01-$1.13 fiscal year 2008 EPS.

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