Movers: Dean Foods, Coca-Cola, MGIC Investment, First Solar
Dean Foods (DF) posts fourth quarter EPS (adjusted) of $0.27, vs. $0.61 a year ago, as higher interest expense offset 25% sales rise. It sees $0.15-$0.20 first quarter EPS, cites swings in dairy commodity markets, including the organic milk market.
Coca-Cola Company (KO) posts fourth quarter GAAP EPS of $0.52, vs. $0.29 a year ago, on 24% higher revenue. Fourth quarter 2007 EPS included a $0.06 net charge related mostly to restructuring charges and asset write-downs. Fourth quarter 2006 EPS included a $0.23 net charge mostly related to a non-cash impairment charge at Coca-Cola Enterprises (CCE), which is about 35% owned by KO.
MGIC Investment (MTG) posts $18.17 fourth quarter loss per share, vs. $1.47 EPS a year ago, despite 8.7% revenue rise. Current quarter includes pre-tax premium deficiency reserve of about $1.2 billion relating to Wall Street bulk transactions, after-tax charge of $33 million related to equity losses incurred by C-BASS. Hires advisor to assist it in exploring alternatives for increasing its capital.
Applied Materials (AMAT) posts better-than-expected first quarter non-GAAP EPS of $0.25, vs. $0.29 a year ago, on 8.3% sales decline. Reportedly sees second quarter sales flat-to-up 5%. Caris raises target price.
Blue Nile (NILE) posts fourth quarter EPS of $0.45, vs. $0.35 a year ago, on 23% sales rise. Sees first quarter EPS of $0.11-$0.14 on relatively flat sales growth, 2008 EPS similar to 2007. It names Diane Irvine as CEO. Sets $100 million stock buyback. Citigroup reportedly downgrades to hold from buy.
Deere & Co. (DE) posts first quarter EPS of $0.83, vs. $0.52 a year ago, on 18% net revenue rise.
First Solar (FSLR) posts fourth quarter EPS of $0.77, vs. $0.12 a year ago, on a sharp revenue rise.
Jones Apparel Group (JNY) posts $1.01 fourt quarter loss per share, vs. $2.65 loss from continuing operations a year ago, as lower goodwill impairments offset 17% revenue decline, and comparable-store sales in the company's own stores fell 4.8%. Sees $1.25-$1.50 adjusted 2008 EPS from continuing operations.
Genentech (DNA) announces that AVADO, a Roche-sponsored Phase III, placebo-controlled study evaluating Avastin in combination with docetaxel chemotherapy met its primary endpoint of prolonging progression-free survival (PFS) in patients who had not received prior chemotherapy for their locally recurrent or metastatic HER2-megative breast cancer.
E*Trade Financial (ETFC) posts 22% year-over-year rise in total daily average revenue trades for the month of January, and 19% sequential increase. ETFC increased net new retail accounts by 16,000 in the month.
P.F. Chang's China Bistro (PFCB) posts $0.37, vs. $0.35 a year ago, fourth quarter EPS from continuing operations on 16% higher revenue. It expects to report $1.32-$1.38 fiscal year 2008 EPS from continuing operations on sales growth of 13%-14%.
Waste Management (WMI) posts $0.61, vs. $0.46 a year ago, fourth quarter GAAP EPS on 2.4% higher revenue. Notes fourth quarter 2007 EPS included a net gain of $0.07 as tax benefits more than offset a loss from labor disruptions in California. Fourth quarter 2006 EPS included a net charge of $0.01. Sees $2.19-$2.23 2008 EPS.
Cephalon (CEPH) posts $0.56 fourth quarter EPS (including items), vs. $0.08 loss per share, as lower costs offset 7.7% revenue decline. Reiterates guidance for 2008 total sales of $1.80-$1.85 billion, adjusted EPS of $5.10-$5.20. Introduces first quarter guidance for sales of $435-$445 million, EPS of $1.00-$1.10. Broadpoint Capital upgrades to strong buy from buy.
Buffalo Wild Wings (BWLD) posts better-than-expected $0.34, vs. $0.30 a year ago (adjusted to exclude $0.08 related to fourth quarter 2006's extra week), fourth quarter EPS on 3.4% higher same-store sales at company-owned restaurants, 9.7% higher total revenue.
Nice Systems (NICE) posts fourth quarter non-GAAP EPS of $0.39, vs. $0.37 a year ago, on 21% revenue rise. It sees first quarter non-GAAP EPS of $0.34-$0.37 on $142-$146 million revenue, $1.65-$1.75 2008 on $615-$630 million revenue.
Wynn Resorts (WYNN) posts $0.72, vs. $0.53 a year ago, fourth quarter adjusted EPS on 26% revenue rise. However, notes net casino revenues fourth quarter 2007 were $160.0 million, vs. $163.7 million for fourth quarter 2006.