Jim Cramer Blog

Ameren Corp. (NYSE:AEE - News) reported fourth-quarter earnings of $61 million, or 30 cents a share, up from a year-ago profit of $20 million, or 10 cents a share. The latest results included storm-related costs of $28 million, or 13 cents a share. Revenue slid in the latest three months to $1.62 billion from $1.7 billion in the same period a year earlier. The average estimate of analysts polled by Thomson Financial was for a profit of 39 cents a share in the December period. Looking ahead, the St. Louis-based electricity and natural gas utility operator said it expects non-GAAP (generally accepted accounting principles) earnings of $3.15 to $3.60 a share for fiscal 2007. Wall Street's current consensus estimate is for a profit of $3.85 a share for 2007.
AMR Corp. (NYSE:AMR - News) was downgraded to neutral from buy at Goldman Sachs.
Baidu.com Inc. (NasdaqGM:BIDU - News) said fourth-quarter net income rose, as revenue gained, to 122.8 million yuan ($15.8 million), or Y3.54 per share (46 U.S. cents), from Y$24.5 million, or Y0.71 per share, during the same period in the prior year.
Baker Hughes Inc. (NYSE:BHI - News) said that fourth-quarter net income rose to $326.2 million, or $1.02 a share, from $257.9 million, or 75 cents a share, a year ago, after charges related to a settlement deal with the Securities and Exchange Commission and the Department of Justice amounted to 12 cents a share, or $46 million. Analysts had been expecting the drilling and oil services provider to post earnings of $1.19 a share according to data compiled by Thomson Financial. Sales rose 23% to $2.5 billion. Baker Hughes said that it's expecting revenue outside North America to rise by between 17% and 19% in 2007.
Biogen Idec Inc. (NasdaqGS:BIIB - News) said Thursday its fourth-quarter net income more than doubled to $108.6 million, or 32 cents a share, from $55.6 million, or 16 cents, a year earlier. The biotechnology company said Thursday it earned 53 cents a share before items for the latest fourth quarter. Fourth quarter revenue increased 12% to $708.3 million from $632.9 million, driven primarily by sales of its Avonex multiple sclerosis drug and its Rituxan rheumatoid arthritis treatment. Analysts surveyed by Thomson Financial, on average, expected the San Diego company to earn 55 cents a share on revenue of $714.2 million for the final quarter of 2006. For 2007, Biogen Idec expects net income of $1.69 a share to $1.84 a share. It also expects to earn $2.50 to $2.65 a share before items on revenue growth in the mid-teens on a percentage basis.
Bonso Electronics (NasdaqGM:BNSO - News) reported a loss of $630,000, or 11 cents a share, for its fiscal third quarter ended Dec. 31, wider than a loss of $76,000, or a penny per share, in the year-ago period.
Cimarex Energy (NYSE:XEC - News) said fourth-quarter net income dropped 65% to $58.7 million, or 70 cents a share, on a 41% decline in gas prices and a 2% drop in oil prices. It also took $1.4 million, or a penny a share, in repair costs from hurricanes Katrina and Rita. Analysts polled by Thomson Financial expected earnings of 71 cents a share. Oil and gas production averaged 441 million cubic feet from 431 million Mcfe a day in the year-ago quarter. It plans to spend between $800 million and $1 billion on capital spending for 2007 and sees first-quarter production between 435 and 445 million Mcfe a day.
Equifax Inc. (NYSE:EFX - News) agreed to acquire Talx Corp. (NasdaqGS:TALX - News) in a stock and cash transaction valued at $1.4 billion, including the assumption of debt. Equifax, an Atlanta-based information technology company, said the acquisition is aligned with the company's long-term growth strategy of expanding into new markets and acquiring proprietary data sources.
Evergreen Solar (NasdaqGM:ESLR - News) said its fourth-quarter net loss widened to $5.47 million, or 8 cents a share, from $5.04 million, or 8 cents a share, in the same period last year. The Marlboro, Mass.-based maker of solar power products said revenue more than doubled to $32.4 million from $11.6 million. Analysts polled by Thomson First Call had expected a per-share loss of 8 cents, on revenue of $34 million. For the first quarter, Evergreen sees a net loss of $7 million to $7.5 million.
EXCO Resources Inc. (NYSE:XCO - News) said it is proposing to offer up to $2 billion in preferred stock. The offer includes the private placement of up to $400 million of 6% cumulative convertible perpetual preferred stock, and $1.6 billion of 11% cumulative preferred stock to institutional investors.
Favrille (NasdaqGM:FVRL - News) said that its fourth-quarter net profit widened to $10.2 million, or 35 cents a share, from $9.6 million, or 48 cents, a year ago. Analysts were expecting the company to post earnings of 39 cents a share, according to data compiled by Thomson Financial. Research and development costs rose to $7.7 million, from $7.5 million at the same point a year ago primarily due to extra personnel and non-cash expenses. The company said that it expects total operating expenses for 2007 in a range of $48 million to $52 million, and said it believes that its cash should be sufficient to fund operations for at least 12 months.
Foundation Coal Holdings (NYSE:FCL - News) said it lost $21.9 million, or 48 cents a share, in the fourth quarter, hit by charges related to its Wabash mine and other costs. The company earned $28.6 million, or 61 cents a share, in the same period a year ago. Excluding charges, the company would have earned $2.2 million, or 5 cents a share, in the quarter. The average estimate of analysts polled by Thomson Financial was for earnings of 23 cents a share. Coal sales revenue rose to $345.9 million from $334.4 million. Thomson Financial was looking for revenue of $343.8 million. The company said it expects revenue of $1.49 to $1.58 billion in 2007 and earnings of 90 cents to $1.50 a share. Thomson is looking for revenue of $1.45 billion on earnings of $2.19 a share.
Granite Construction (NYSE:GVA - News) shares fell after the company unveiled plans for a restructuring in order to improve profits at its Heavy Construction Division projects. The company also said it expects revenue from the Heavy Construction Division to be about $800 million in 2007, down from a total of $1.1 billion in 2006. Granite also posted a provide of $600,000, or 2 cents a share, for the fourth quarter, reflecting a $18 million goodwill write-down. In the year-ago period, the company earned $35.8 million, or 86 cents a share.
Hanover Compressor Co. (NYSE:HC - News) said that it swung to a fourth-quarter net profit of $30.1 million, or 28 cents a share. The company said that it returned to profitability due to favorable markets and a focus of capital return. The results also included a $10.2 million tax benefit. Analysts had been expecting the company to report earnings of 14 cents a share. Last year, the gas compression services company reported a net loss of $4.2 million, or 4 cents a share. Revenue rose 15% to $101.5 million.
Heartland Payment Systems (NYSE:HPY - News) said it expects earnings of 16 to 18 cents a share for the first quarter. The average estimate of analysts polled by Thomson Financial is for a profit of 20 cents a share in the March period.
Hornbeck Offshore (NYSE:HOS - News) said fourth-quarter net income rose to $17 million, or 64 cents a share, from $15.1 million, or 55 cents a share, with revenue up 14% to $65 million. Excluding the impact of FAS123R accounting rules, it would've earned 66 cents a share. Analysts polled by Thomson Financial expected earnings of 59 cents a share. It expects 2007 earnings between $2.19 and $2.68 a share and first-quarter earnings between 42 and 55 cents a share. Analysts, on average, expected 2007 earnings of $2.55 a share.
Lifetime Fitness (NYSE:LTM - News) said it expects earnings of $1.71 to $1.74 a share for fiscal 2007 on revenue of between $640 million and $650 million. Wall Street's current consensus estimate is for a profit of $1.72 a share on revenue of $646 million for the year from the Eden Prairie, Minn., fitness center operator.
Lufkin Industries Inc. (NasdaqGS:LUFK - News) said fourth-quarter net income for the three months ended Dec. 31 rose to $23 million, or $1.52 a share, from $15.4 million, or $1.03 a share in the year-ago period. Operating income increased to $28.2 million from $23.7 million. Revenue rose to $165.6 million from $145.4 million. Two analysts surveyed by Thomson Financial forecast earnings of $1.21 a share, on average. The seller of pumps for oil extraction expects first-quarter profit of 95 cents a share to $1.15 a share, compared with $1.01 a share last year.
Olympic Steel Inc. (NasdaqGM:ZEUS - News) reported fourth-quarter earnings of $3.8 million, or 35 cents a share, down from a year-ago profit of $7.3 million, or 70 cents a share. Sales rose 10.4% in the latest three months to $226.1 million from $204.8 million in the same period a year earlier. The average estimate of Thomson Financial was for a profit of 39 cents a share in the December period. "High fourth quarter service center inventories, as reflected by the Metals Service Center Institute, clearly caused a deteriorating market at yearend, said Michael Siegal, the company's chairman and CEO. "We believe that situation will be remediated by the end of the first quarter of 2007, as demand is increasing, imports are being significantly reduced, input costs (such as scrap) are on the rise again, and domestic steel production appears in control."

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