Tuesday's Biggest Decliners
Alltel Corp. (NYSE:AT - News) was downgraded to sector perform from outperform at RBC Capital Markets.
Atherogenics (NASDAQ:AGIX - News) shares after the company said it plans to release data from a key clinical trial of its proposed treatment for coronary artery disease later than previously expected.
Bankrate (NASDAQ:RATE - News) was initiated with a buy rating and a $45 price target at Kaufman Bros.
Blackbaud (NASDAQ:BLKB - News) was initiated with a hold rating at Jefferies & Co. The firm set a $29 price target.
Borders Group Inc. (NYSE:BGP - News) expects fourth-quarter earnings per share below its prior outlook of $1.80 to $2. The book retailer, which cited factors such as lower-than-expected sales, added that annual per-share profit will also miss its outlook.
BP plc (NYSE:BP - News) shares slid after the company said it expects flat production for the fourth quarter.
Brightpoint (NASDAQ:CELL - News) was downgraded to sector performer from sector outperformer at CIBC World Markets.
Brookfield Homes Corp. (NYSE:BHS - News) said it closed 1,993 homes and lots in 2006, compared with 2,824 in 2005. Backlog at Dec. 31 was 247 homes, down 208 from a year earlier. The stock was also downgraded to sell at JMP Securities.
Celgene Corp. (NASDAQ:CELG - News) said its preliminary 2006 revenue reached $890 million, and adjusted per-share profit almost tripled. Analysts polled by Thomson First Call are looking for annual revenue of $897 million. The Summit, N.J., pharmaceutical concern added that it expects 2007 revenue of $1.3 billion and adjusted earnings per share of $1. Wall Street is looking for 2007 revenue of $1.38 billion, and per-share profit of $1.09.
Shares of CA Nacional Telefonos de Venezuela (NYSE:VNT - News) dropped following the announcement by the country's president, Hugo Chavez, of plans to nationalize the company.
Emageon Inc. (NASDAQ:EMAG - News) said it expects 2007 per-share profit of 24 cents to 29 cents and revenue from current business of $136 million to $140 million. The provider of enterprise medical information technology systems sees annual earnings per share excluding charges for depreciation, amortization and stock-based compensation of 79 to 87 cents.
Emcore Corp. (NASDAQ:EMKR - News) said it swung to fourth-quarter profit of $78.1 million, or $1.47 a share, boosted by the sale of the company's electronics materials and device unit and its interest in GELcore LLC. In the same period last year, the Somerset,N.J.-based maker of semiconductor components posted a net loss of $4.61 million, or 10 cents a share. Excluding the gain from the sale of the GELcore interest and the electronics and device unit, among other items, the company reported a net loss of $8.9 million vs. a net loss of $5.1 million last year. Revenue for the period rose 5.7% to $35.4 million from $33.5 million. Emcore expects first-quarter revenue of $38 million.
Escala Group (NASDAQ:ESCL - News) shares dropped after the New York-based collectibles company said it has received notification that the Nasdaq will delist its stock at the open of business Wednesday. The delisting is a result of the company's failure to file its Form 10-K for the fiscal year ended June 30, 2006, and its Form 10-Q for the quarter ended Sept. 30, 2006. Escala said it's committed to regaining compliance with Nasdaq's filing requirements and, if its appeal to the exchange is unsuccessful, the company said it plans to try to list its stock on another national securities exchange.
Garmin (NASDAQ:GRMN - News) was downgraded to neutral from buy at Merrill Lynch. The firm said it expects the company to lose market share as a barrage of new global positioning devices are introduced.
Gehl & Co. (NASDAQ:GEHL - News) was downgraded to neutral from buy at Sidoti & Co. The firm lowered its price target to $30 from $37.
Gentiv Health (NASDAQ:GTIV - News) was downgraded to equal weight from overweight at Lehman Bros. due to valuation concerns.
Greenbrier Cos. (NYSE:GBX - News) reported fiscal first-quarter earnings fell 77% on 32% higher revenue. For the quarter ended Nov. 30, earnings were $1.9 million, or 12 cents a share, compared with $8 million, or 51 cents, in the year-earlier period. A survey of analysts by Thomson First Call produced a consensus estimate of 12 cents. Revenue reached $246.6 million from $186.4 million. The company said that a number of factors knocked 40 cents off the latest share earnings. Half that 40 cents was tied to thinner-than-expected profit margins from new rail-car and marine production. Another dime of the 40 cents stemmed from sales deferred to later quarters and from the timing of revenue on a marine order. Greenbrier also cut its full-year estimate to a range of $2.15 to $2.40 a share. It had estimated $3.10 to $3.40. First Call was expecting $2.92.
Helen of Troy (NASDAQ:HELE - News) said fiscal third-quarter earnings rose to $22.8 million, or 72 cents a share, from $22.7 million, or 72 cents a share, a year earlier. Revenue increased to $213.4 million from last year's $197.5 million. Analysts surveyed by Thomson First Call had been expecting earnings of 85 cents a share and revenue of $204.6 million, on average. The El Paso, Tex. personal care products company said earnings were hurt by gross margin pressure in its personal care and housewares businesses, as well as by expenses associated with the OXO warehouse transition. For the fiscal fourth quarter, the company expects earnings of 25 to 30 cents a share, vs. analyst forecasts of 36 cents a share, and revenue of $135 million to $140 million.
Henry Schein Inc. (NASDAQ:HSIC - News) was downgraded to equal-weight from overweight at Lehman Bros.
Kenneth Cole Productions (NYSE:KCP - News) was downgraded to neutral from outperform at Cowen & Co.
Lawson Software Inc. (NASDAQ:LWSN - News) swung to a second-quarter loss of 2 cents a share from net income of 6 cents in the year-earlier period. Excluding items, the company earned 3 cents against 8 cents. Analysts polled by Thomson First Call had expected profit of 4 cents. Revenue more than doubled to $184.5 million from $89 million, while analysts had expected $180 million. For the third quarter, the St. Paul, Minn., enterprise software company estimated revenue of $181 million to $189 million, excluding $2 million of deferred revenue. Lawson sees the quarterly per-share result ranging from a 1-cent loss to break-even, or adjusted earnings of 2 cents to 3 cents. Wall Street is looking for third-quarter revenue of $194 million and per-share profit of 6 cents.
Mills Corp. (NYSE:MLS - News) shares dropped after the company said it's completed an internal investigation into accounting errors that will result in the restatement of its financial statements for 2001 to 2004, as well as the first three quarters of 2005. The retail property developer said in a regulatory filing that its probe revealed several cases in which its personnel "failed to recognize" the implications of certain "transactions, events or other facts." It also found that the company's fast growth, and its complex financial structure, "exacerbated" such errors. Mills said it would not know the full impact of the restatements until corrective measures have been implemented and the results are audited by Ernst & Young LLP. The company also said it is continuing to cooperate with a Securities and Exchange Commission investigation into its accounting practices.
Natus Medical Inc. (NASDAQ:BABY - News)said it expects first-quarter earnings of 7 cents to 8 cents a share. The average estimate of analysts surveyed by Thomson First Call is 11 cents. The San Carlos, Calif., health-care products company said it expects revenue for the quarter at $25.5 million to $26 million. Natus expects 2007 revenue to range from $114 million to $116 million, and earnings to range from 47 cents to 51 cents. The average earnings estimate of analysts is 51 cents for 2007.
New York & Co. (NYSE:NWY - News) said it expects fourth-quarter earnings at the low end of its estimated range of 37-46 cents a share. Analysts surveyed by Thomson First Call are forecasting earnings of 40 cents a share, on average. The retailer said it'll report an increase in gross margin for the fourth quarter due to improved merchandise margins. But it's facing higher-than-anticipated non-recurring litigation expenses pf 2 cents a share and increased costs related to marketing and store payroll to drive holiday sales.
Repsol (NYSE:REP - News) was downgraded to sell from hold at Deutsche Bank.
ScanSource (NASDAQ:SCSC - News) shares fell after the Greenville, S.C.-based distributor of specialty technology products said Monday it expects sales of $467 million to $475 million in its fiscal second quarter ended Dec. 31. Analysts polled by Thomson First Call are forecasting second-quarter sales of $485 million. ScanSource posted sales of $408.5 million in the same period last year.
Spectrum Control (NASDAQ:SPEC - News) reported fourth-quarter net income rose to 15 cents a share, from 8 cents in the year-ago period.
Sprint (NYSE:S - News) said it's on track to meet its financial targets for 2006. But the No. 3 U.S. wireless carrier plans to cut 5,000 jobs as it forecast sluggish sales growth, lower profit and higher capital expenditures this year.
Supervalu, Inc. (NYSE:SVU - News) said third-quarter net income rose 51% to $113 million, or 54 cents a share, from $75 million, or 53 cents a share, a year earlier. Results for the most recent quarter included 8 cents a share in one-time charges. Sales for the quarter improved to $10.7 billion from $4.7 billion. Analysts, on average, expected Supervalu to earn 56 cents a share on revenue of $10.53 billion, according to Thomson First Call. For the fourth quarter, the company expects earnings in the range of 59 cents to 66 cents a share after adjustments. For fiscal 2007, the company estimates sales of $37 billion and earnings in the range of $2.34 to $2.41 a share. Supervalu also announced a $1.2 billion capital program for 2008 to invest in new stores and refurbishing.
Tween Brands Inc. (NYSE:TWB - News) lowered its view for fourth-quarter earnings per share to a range of 85 cents to 88 cents. Previously, the specialty retailer had estimated 95 cents to $1. Tween said comparable-store sales should rise 3% to 4%, compared with its prior outlook for growth in the mid-single digits.
West Pharmaceutical Services (NYSE:WST - News) was downgraded to underweight from equal weight at Lehman Bros. The firm cited concerns about the company's margin outlook.
Published By MarketWatch
Atherogenics (NASDAQ:AGIX - News) shares after the company said it plans to release data from a key clinical trial of its proposed treatment for coronary artery disease later than previously expected.
Bankrate (NASDAQ:RATE - News) was initiated with a buy rating and a $45 price target at Kaufman Bros.
Blackbaud (NASDAQ:BLKB - News) was initiated with a hold rating at Jefferies & Co. The firm set a $29 price target.
Borders Group Inc. (NYSE:BGP - News) expects fourth-quarter earnings per share below its prior outlook of $1.80 to $2. The book retailer, which cited factors such as lower-than-expected sales, added that annual per-share profit will also miss its outlook.
BP plc (NYSE:BP - News) shares slid after the company said it expects flat production for the fourth quarter.
Brightpoint (NASDAQ:CELL - News) was downgraded to sector performer from sector outperformer at CIBC World Markets.
Brookfield Homes Corp. (NYSE:BHS - News) said it closed 1,993 homes and lots in 2006, compared with 2,824 in 2005. Backlog at Dec. 31 was 247 homes, down 208 from a year earlier. The stock was also downgraded to sell at JMP Securities.
Celgene Corp. (NASDAQ:CELG - News) said its preliminary 2006 revenue reached $890 million, and adjusted per-share profit almost tripled. Analysts polled by Thomson First Call are looking for annual revenue of $897 million. The Summit, N.J., pharmaceutical concern added that it expects 2007 revenue of $1.3 billion and adjusted earnings per share of $1. Wall Street is looking for 2007 revenue of $1.38 billion, and per-share profit of $1.09.
Shares of CA Nacional Telefonos de Venezuela (NYSE:VNT - News) dropped following the announcement by the country's president, Hugo Chavez, of plans to nationalize the company.
Emageon Inc. (NASDAQ:EMAG - News) said it expects 2007 per-share profit of 24 cents to 29 cents and revenue from current business of $136 million to $140 million. The provider of enterprise medical information technology systems sees annual earnings per share excluding charges for depreciation, amortization and stock-based compensation of 79 to 87 cents.
Emcore Corp. (NASDAQ:EMKR - News) said it swung to fourth-quarter profit of $78.1 million, or $1.47 a share, boosted by the sale of the company's electronics materials and device unit and its interest in GELcore LLC. In the same period last year, the Somerset,N.J.-based maker of semiconductor components posted a net loss of $4.61 million, or 10 cents a share. Excluding the gain from the sale of the GELcore interest and the electronics and device unit, among other items, the company reported a net loss of $8.9 million vs. a net loss of $5.1 million last year. Revenue for the period rose 5.7% to $35.4 million from $33.5 million. Emcore expects first-quarter revenue of $38 million.
Escala Group (NASDAQ:ESCL - News) shares dropped after the New York-based collectibles company said it has received notification that the Nasdaq will delist its stock at the open of business Wednesday. The delisting is a result of the company's failure to file its Form 10-K for the fiscal year ended June 30, 2006, and its Form 10-Q for the quarter ended Sept. 30, 2006. Escala said it's committed to regaining compliance with Nasdaq's filing requirements and, if its appeal to the exchange is unsuccessful, the company said it plans to try to list its stock on another national securities exchange.
Garmin (NASDAQ:GRMN - News) was downgraded to neutral from buy at Merrill Lynch. The firm said it expects the company to lose market share as a barrage of new global positioning devices are introduced.
Gehl & Co. (NASDAQ:GEHL - News) was downgraded to neutral from buy at Sidoti & Co. The firm lowered its price target to $30 from $37.
Gentiv Health (NASDAQ:GTIV - News) was downgraded to equal weight from overweight at Lehman Bros. due to valuation concerns.
Greenbrier Cos. (NYSE:GBX - News) reported fiscal first-quarter earnings fell 77% on 32% higher revenue. For the quarter ended Nov. 30, earnings were $1.9 million, or 12 cents a share, compared with $8 million, or 51 cents, in the year-earlier period. A survey of analysts by Thomson First Call produced a consensus estimate of 12 cents. Revenue reached $246.6 million from $186.4 million. The company said that a number of factors knocked 40 cents off the latest share earnings. Half that 40 cents was tied to thinner-than-expected profit margins from new rail-car and marine production. Another dime of the 40 cents stemmed from sales deferred to later quarters and from the timing of revenue on a marine order. Greenbrier also cut its full-year estimate to a range of $2.15 to $2.40 a share. It had estimated $3.10 to $3.40. First Call was expecting $2.92.
Helen of Troy (NASDAQ:HELE - News) said fiscal third-quarter earnings rose to $22.8 million, or 72 cents a share, from $22.7 million, or 72 cents a share, a year earlier. Revenue increased to $213.4 million from last year's $197.5 million. Analysts surveyed by Thomson First Call had been expecting earnings of 85 cents a share and revenue of $204.6 million, on average. The El Paso, Tex. personal care products company said earnings were hurt by gross margin pressure in its personal care and housewares businesses, as well as by expenses associated with the OXO warehouse transition. For the fiscal fourth quarter, the company expects earnings of 25 to 30 cents a share, vs. analyst forecasts of 36 cents a share, and revenue of $135 million to $140 million.
Henry Schein Inc. (NASDAQ:HSIC - News) was downgraded to equal-weight from overweight at Lehman Bros.
Kenneth Cole Productions (NYSE:KCP - News) was downgraded to neutral from outperform at Cowen & Co.
Lawson Software Inc. (NASDAQ:LWSN - News) swung to a second-quarter loss of 2 cents a share from net income of 6 cents in the year-earlier period. Excluding items, the company earned 3 cents against 8 cents. Analysts polled by Thomson First Call had expected profit of 4 cents. Revenue more than doubled to $184.5 million from $89 million, while analysts had expected $180 million. For the third quarter, the St. Paul, Minn., enterprise software company estimated revenue of $181 million to $189 million, excluding $2 million of deferred revenue. Lawson sees the quarterly per-share result ranging from a 1-cent loss to break-even, or adjusted earnings of 2 cents to 3 cents. Wall Street is looking for third-quarter revenue of $194 million and per-share profit of 6 cents.
Mills Corp. (NYSE:MLS - News) shares dropped after the company said it's completed an internal investigation into accounting errors that will result in the restatement of its financial statements for 2001 to 2004, as well as the first three quarters of 2005. The retail property developer said in a regulatory filing that its probe revealed several cases in which its personnel "failed to recognize" the implications of certain "transactions, events or other facts." It also found that the company's fast growth, and its complex financial structure, "exacerbated" such errors. Mills said it would not know the full impact of the restatements until corrective measures have been implemented and the results are audited by Ernst & Young LLP. The company also said it is continuing to cooperate with a Securities and Exchange Commission investigation into its accounting practices.
Natus Medical Inc. (NASDAQ:BABY - News)said it expects first-quarter earnings of 7 cents to 8 cents a share. The average estimate of analysts surveyed by Thomson First Call is 11 cents. The San Carlos, Calif., health-care products company said it expects revenue for the quarter at $25.5 million to $26 million. Natus expects 2007 revenue to range from $114 million to $116 million, and earnings to range from 47 cents to 51 cents. The average earnings estimate of analysts is 51 cents for 2007.
New York & Co. (NYSE:NWY - News) said it expects fourth-quarter earnings at the low end of its estimated range of 37-46 cents a share. Analysts surveyed by Thomson First Call are forecasting earnings of 40 cents a share, on average. The retailer said it'll report an increase in gross margin for the fourth quarter due to improved merchandise margins. But it's facing higher-than-anticipated non-recurring litigation expenses pf 2 cents a share and increased costs related to marketing and store payroll to drive holiday sales.
Repsol (NYSE:REP - News) was downgraded to sell from hold at Deutsche Bank.
ScanSource (NASDAQ:SCSC - News) shares fell after the Greenville, S.C.-based distributor of specialty technology products said Monday it expects sales of $467 million to $475 million in its fiscal second quarter ended Dec. 31. Analysts polled by Thomson First Call are forecasting second-quarter sales of $485 million. ScanSource posted sales of $408.5 million in the same period last year.
Spectrum Control (NASDAQ:SPEC - News) reported fourth-quarter net income rose to 15 cents a share, from 8 cents in the year-ago period.
Sprint (NYSE:S - News) said it's on track to meet its financial targets for 2006. But the No. 3 U.S. wireless carrier plans to cut 5,000 jobs as it forecast sluggish sales growth, lower profit and higher capital expenditures this year.
Supervalu, Inc. (NYSE:SVU - News) said third-quarter net income rose 51% to $113 million, or 54 cents a share, from $75 million, or 53 cents a share, a year earlier. Results for the most recent quarter included 8 cents a share in one-time charges. Sales for the quarter improved to $10.7 billion from $4.7 billion. Analysts, on average, expected Supervalu to earn 56 cents a share on revenue of $10.53 billion, according to Thomson First Call. For the fourth quarter, the company expects earnings in the range of 59 cents to 66 cents a share after adjustments. For fiscal 2007, the company estimates sales of $37 billion and earnings in the range of $2.34 to $2.41 a share. Supervalu also announced a $1.2 billion capital program for 2008 to invest in new stores and refurbishing.
Tween Brands Inc. (NYSE:TWB - News) lowered its view for fourth-quarter earnings per share to a range of 85 cents to 88 cents. Previously, the specialty retailer had estimated 95 cents to $1. Tween said comparable-store sales should rise 3% to 4%, compared with its prior outlook for growth in the mid-single digits.
West Pharmaceutical Services (NYSE:WST - News) was downgraded to underweight from equal weight at Lehman Bros. The firm cited concerns about the company's margin outlook.
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Labels: AGIX, AT, BGP, BHS, BLKB, BP, CELG, CELL, EMAG, EMKR, ESCL, GBX, GEHL, GRMN, GTIV, HELE, RATE, SVU, VNT, WST
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