Jim Cramer Blog

Starbucks Corp. said Wednesday its fiscal first-quarter profit climbed nearly 18 percent on a record number of store openings and ramped-up breakfast and lunch offerings.
Investors appeared to shrug off concerns about costs, particularly in raises for North American retail employees, and pushed the stock slightly higher in after-hours trading.
For the 13 weeks ended Dec. 31, the world's largest specialty coffee retailer posted net earnings of $205 million, or 26 cents a share, compared with $174 million, or 22 cents a share, for the same period a year ago.
Analysts polled by Thomson Financial were expecting profit of $202.6 million, or 26 cents per share.

Labels: SBUX, Starbucks Corp.

Google Inc.'s fourth-quarter profit nearly tripled as the online search engine leader once again sprinted past analyst expectations, but the breathtaking growth wasn't enough to satisfy investors.
The Mountain View-based company's high-flying stock price dipped after Google said it earned $1.03 billion, or $3.29 per share, during the final three months of 2006. That compared with net income of $372.2 million, or $1.22 per share, at the same time in 2005.
If not for expenses for employee stock compensation and gains from tax benefits, Google said it would have earned $3.18 per share. That figure easily exceeded the average analyst estimate of $2.92 per share among analysts surveyed by Thomson Financial.

Labels: GOOG, Google Inc.

Stocks see solid gains Wednesday, mostly following the FOMC statement. The Dow ($INDU) ended the session with a gain of 98.38 points to 12,621.69. The S&P 500 ($SPX) added 9.42 points to 1,438.24. The NASDAQ ($COMPQ) tacked on 15.29 points to close at 2,463.93. Volume was strong on the session with the NYSE trading 1.73 billion shares and the Naz turning over 2.23 billion shares. Market breadth was positive by a 22-to-11 and 17-to-13 ratio on the Big Board and Naz respectively.Earnings and the economy were the focus Wednesday, culminating in the FOMC statement in the afternoon. The advanced reading for fourth quarter GDP got things off to a good start when growth accelerated 3.5 percent. This was well above third quarter growth of just 2.0 percent and exceeded analyst expectations of 2.0 percent. The fact that inflation pressures eased also helped stocks with the core deflator for PCEs coming in at 2.1 percent. Yes, this is still a bit above the Fed comfort level at 2.0 percent, but inflation pressures are easing. The FOMC statement at 2:15 ET was the real driver for stocks Wednesday. The committee left rates unchanged, as expected, but it was the minor changes in the statement that were viewed bullish. The statement noted that the economy continues to firm with the housing market stabilizing. At the same time, the Fed did state that inflation pressures are easing and should continue to do so over time. Though the committee did say that further rate hikes could be necessary, it all depends on future incoming data. Earnings news also benefited the major market indices with Boeing (BA) providing nearly 30 points for the Dow. BA shares added 4.14 percent on the session after the aerospace giant flew past expectations. The company announced that earnings more than doubled in the fourth quarter on a 26 percent rise in revenues. At the same time, BA raised its guidance for 2007. Crude prices were higher once again Wednesday, helping lift oil related stocks. Weekly inventory data showed that crude reserves rose by 2.7 million barrels. However, worries about production cuts taking place starting Thursday pushed the commodity higher by 2.1 percent to close above $58 a barrel. Tomorrow’s session will also be full of economic reports and earnings data. This will include Google’s (GOOG) release that occurred after the bell today. The personal income report and the ISM Index will also be released Thursday and these reports could have an impact on trading.
Jody Osborne

Labels: BA, GOOG

DeclinersAcco Brands Corp. (NYSE:ABD - News) was downgraded to neutral from outperform at Credit Suisse.
Allstate (NYSE:ALL - News) reported a 17% increase in fourth-quarter profit, but the insurer's results missed analyst estimates and the company said it will stop giving profit forecasts.
Calumet Specialty Products (NasdaqGM:CLMT - News) was downgraded to neutral from buy at Goldman Sachs.
Celestica (NYSE:CLS - News) shares fell after the company said its fourth-quarter net loss widened to $60.8 million, or 27 cents a share, from $28.2 million, or 12 cents a share, as costs of sales rose. The most recent quarter's results include a $30 million net charge related to an increase in inventory at a Mexico facility and a $59 million restructuring charge. Excluding amortization of intangible assets, among other items, the Canada-based provider of electronics manufacturing services posted per-share earnings of 3 cents vs. 13 cents in the prior year. Revenue rose 9% to $2.26 billion from $2.08 billion. The company sees an adjusted first-quarter per-share loss of 4 to 15 cents, on revenue of $1.7 billion to $1.9 billion. The company was also downgraded to underperform from peer perform at Bear Stearns.
U.S.-listed shares of Chinese companies fell, tracking steep losses in their home market after a senior legislator said the market may be overheated after a 130% gain in 2006. The comments by Cheng Siwei, vice-chairman of the standing committee of the National People's Congress, in an interview with the Financial Times, raised concerns the Chinese government may take official action to cool speculation after the market hit a record high last week. Chinese ADRs such as Guangshen Railway (NYSE:GSH - News), China Mobile (NYSE:CHL - News), Aluminum Corp. China (NYSE:ACH - News), China Life Insurance (NYSE:LFC - News) and Sinopec (NYSE:SNP - News) were all markedly lower.
Electronics For Imaging's (NasdaqGS:EFII - News) fourth-quarter earnings fell 38% to $7.08 million, or 12 cents a share, from $11.4 million, or 18 cents a share, a year earlier. On a non-GAAP basis, the Foster City, Calif., provider of digital controllers said earnings fell to $22.6 million, or 35 cents a share, from $23.1 million, or 36 cents a share. Revenue rose 5.8% to $153.9 million from $145.4 million in the year-ago period. The company expects to delay its Form 10-K filing for 2006 due to its ongoing stock-option grant investigation. The company sees first-quarter non-GAAP earnings of 25 to 27 cents a share on revenue of $140 million to $143 million.
Haemonetics' (NYSE:HAE - News) shares tumbled after the maker of automated blood processing systems provider forecast earnings of adjusted $2.05 to $2.17 per share for fiscal 2007 with revenue expected to rise between 7% and 9%. The company said this view reflect expectations for continued sales declines in its Japanese business.
Juniper Networks Inc. (NasdaqGS:JNPR - News) reported fourth-quarter revenue rose 4% to $595.8 million, from $575.5 during the same period one year ago. The sales figure slightly topped the estimates of Wall Street analysts surveyed by Thomson Financial, who had forecast $593 million.
Key Tronic (NasdaqGM:KTCC - News) shares dropped after the Spokane, Wash., provider of electronic manufacturing services posted a second-quarter profit of $300,000, or 3 cents a share, down from a profit of $1 million, or 10 cents a share, last year. The latest results include a charge of $940,000 related to a customer unexpectedly declaring bankruptcy in December. Key Tronic also said that new customer programs weren't enough to offset reduced demand from certain existing customers in the latest quarter.
Manitowoc Co. (NYSE:MTW - News) reported fourth-quarter net earnings of $43.9 million, or 69 cents a share, compared with $18.2 million, or 30 cents a share, in the same period last year, on strong revenues in the company's crane segment.
NutriSystem (NasdaqGS:NTRI - News) shares fell after the Horsham, Pa., provider of weight management and fitness products and services forecast first-quarter earnings of 82 to 86 cents a share on revenue of between $200 million and $210 million. Wall Street's current consensus estimate is for a profit of 94 cents a share in March period on revenue of $214 million.
Regeneron Pharmaceuticals (NasdaqGM:REGN - News) was initiated with an average rating at Caris & Co.
Repros Therapeutics Inc. (NasdaqGM:RPRX - News) announced the pricing of its public offering of 2.61 million shares at $13.75 each. The underwriters have a 30-day option to purchase up to an additional 390,000 shares of common stock to cover over-allotments, if any, the company said.
Saifun Semiconductor (NasdaqGS:SFUN - News) shares slumped after the company reported fourth-quarter earnings of $6.3 million, or 20 cents per share, down from a year-ago profit of $8.6 million, or 15 cents a share. Revenue at the Israeli chip company declined to $14 million in the quarter from $16.7 million a year ago.
SanDisk (NasdaqGS:SNDK - News) said it swung to a fourth-quarter loss from a year ago, hurt by acquisition-related charges, as sales surged amid increased demand for its NAND flash-memory storage chips used in consumer electronics.
Sepracor Inc. (NasdaqGS:SEPR - News) said fourth-quarter earnings rose to $99.1 million, or 85 cents a share, from $36.9 million, or 31 cents a share, a year earlier. The results include a 12 cents a share charge for stock-based compensation. Revenue increased to $357.2 million from last year's $311.1 million. Analysts surveyed by Thomson Financial had been expecting earnings of 62 cents a share and revenue of $341.4 million, on average.
Selective Insurance Group (NasdaqGS:SIGI - News) was initiated with a market perform rating at Wachovia Securities, citing concerns about increasing competition.
Silicon Laboratories (NasdaqGS:SLAB - News) forecast revenue of $106 million to $111 million for the fiscal first quarter, below Wall Street's current consensus estimate for revenue of $113.5 million in the March period.
Tekelec (NasdaqGM:TKLC - News) was downgraded to hold at Jefferies & Co.
Time Warner Inc. (NYSE:TWX - News) reported fourth-quarter net income of $1.75 billion, or 44 cents a share, up from $1.3 billion, or 28 cents, earned in the same period during 2005. Earnings from continuing operations improved to 43 cents a share from 28 cents, the New York-based media giant's results showed. Backing out one-time items, Time Warner said it would have earned 22 cents a share for the latest quarter. Quarterly revenue reached $12.47 billion from the prior year's $11.52 billion. Analysts were looking for earnings of 22 cents a share on revenue of $12.46 billion, according to estimates compiled by Thomson First Call. The company also said it expects to wrap up a $20 billion stock-buyback program during the first half of 2007.
Tupperware Brands Corp. (NYSE:TUP - News) reported fourth-quarter net earnings of $39.9 million, or 65 cents a share, up 28% from $31.2 million, or 51 cents a share, during the year-ago period. Earnings after adjustments were 74 cents a share.
Websense (NasdaqGS:WBSN - News) shares tumbled after the company said its fourth-quarter earnings fell 30%, due in part to the cost of starting distribution of its software through Ingram Micro Inc. in North America. The San Diego provider of employee Internet management software had fourth-quarter earnings of $7.78 million, or 17 cents a share, compared with $11.1 million, or 23 cents a share, a year earlier. Excluding stock-based compensation expense, the company earned $11.4 million, or 25 cents a share, up 3% from a year earlier. Revenue for the quarter ended Dec. 31 rose 18% to $47.3 million from $40.1 million a year ago. Analysts surveyed by Thomson Financial expected, on average, earnings of 25 cents a share on revenue of $48 million. Analyst earnings forecasts typically exclude unusual items. In addition, Websense said it expects first-quarter earnings of 9 to 11 cents a share and first-quarter non-GAAP earnings of 19 to 21 cents a share.
W Holding Co. (NYSE:WHI - News) shares fell after the company posted a profit of $17.9 million, or 5 cents a share, for the fourth quarter, down nearly 41% from last year's earnings of $30.2 million, or 12 cents a share. The holding company for Westernbank Puerto Rico attributed the latest results to increases in its current income tax provision, non-interest expenses, and its provision for loan losses.
YMI Biosciences (AMEX:YMI - News) shares plunged after the company said it's terminating a phase III trial of testmilifene, a proposed advanced breast cancer treatment. The company said the move follows a recommendation from the independent Data Safety Monitoring Board that the trial be stopped because interim analysis indicates "it is very unlikely significant differences in overall survival will be shown" between treatment arms as the data mature. A.G. Edwards downgraded the company to hold from buy following the news.
Published by Michael Baron at MarketWatch

Labels: ABD, ACH, ALL, CHL, CLMT, CLS, EFII, GSH, H. SNDK, HAE, JNPR, KTCC, LFC, MTW, NTRI, REGN, SNP

Here are 7 stocks for traders for Thursday from TradingMarkets.com:
Gilead Sciences (NasdaqGS:GILD - News) beat earnings on Wednesday after the close, announcing $0.78 EPS over an expected $0.68 EPS. GILD's PowerRating is 5.
Google (NasdaqGS:GOOG - News) beat earnings Wednesday afternoon with $3.18 EPS over an anticipated $2.91 EPS. GOOG's PowerRating is 5.
Archer-Daniels (NYSE:ADM - News) reports quarterly earnings on Thursday before the bell; look for $0.60 EPS. ADM's PowerRating is 4.
Boston Scientific (NYSE:BSX - News) is expected to announce $0.17 EPS on Thursday morning. BSX's PowerRating is 4.
When Exxon Mobil (NYSE:XOM - News) reports earnings Thursday morning, look for $1.51 EPS. XOM's PowerRating is 5.
International Paper (NYSE:IP - News) is expected to announce $0.35 EPS Thursday morning. IP's PowerRating is 4.
Analysts are watching for Valero Energy (NYSE:VLO - News) to report $1.37 EPS Thursday before the market opens. VLO's PowerRating is 3.
PowerRatings are courtesy of PowerRatings.net

Labels: ADM, BSX, GILD, GOOG, Hot Stocks, IP, VLO, XOM

AdvancersAvanir Pharmaceuticals (NasdaqGM:AVNR - News) received an approvable letter and acceptable labeling from the FDA for a new formulation of its antipsychotic drug FazaClo.
Boeing Co. (NYSE:BA - News) net income more than doubled in the fourth quarter, capping a year in which it set a record for airplane orders and setting the stage for higher growth in 2007, the company said.
Bristol-Myers Squibb (NYSE:BMY - News) shares rose following a report in The Financial Times that the company has hired Lehman Bros., Morgan Stanley and Citigroup to help it field possible takeover bids. Earlier in the week, a report surfaced that the company had drawn acquisition interest from French conglomerate Sanofi-Aventis (NYSE:SNY - News).
Catalyst Pharmaceutical Partners (NasdaqGM:CPRX - News) was initiated with a buy rating at Stifel Nicolaus with a $9 price target.
C.H. Robinson Worldwide Inc. (NasdaqGS:CHRW - News) reported fourth-quarter net income of $71.8 million, or 41 cents a share, up from $58.1 million, or 33 cents, a year ago. Quarterly revenue for the trucking company rose to $1.64 billion from $1.58 billion.
CheckFree Corp. (NasdaqGS:CKFR - News) reported a slight profit gain on advances in its core business. For its fiscal second-quarter, CheckFree said net income rose 4% to $35.3 million or 39 cents a share, compared to $33.8 million or 36 cents a share a year ago.
Corus Group Plc (NYSE:CGA - News) shares leapt after India's Tata Steel won a bidding war to acquire the Anglo-Dutch steelmaker for $12.1 billion.
EchoStar Communications (NasdaqGS:DISH - News) was upgraded to overweight from equal-weight at Morgan Stanley. The firm lifted its price target on the shares to $44 from $40.
Estee Lauder (NYSE:EL - News) shot up after the cosmetics giant said its second-quarter profit more than doubled amid robust sales of major lines coupled with cost cutting and a favorably currency exchange.
Frontier Oil (NYSE:FTO - News) was upgraded to neutral from underperform at Credit Suisse.
Harris Corp. (NYSE:HRS - News) said second-quarter net income rose, as revenue gained, to $94 million, or 67 cents a share, from $30 million, or 22 cents a share, during the same period in the prior year. Before items, quarterly per-share income rose to 68 cents from 52 cents in the prior year.
Harris Stratex Networks (NasdaqGM:HSTX - News) was initiated with a buy rating at Merriman Curhan Ford & Co.
Hologic Inc. (NasdaqGS:HOLX - News) reported fiscal first-quarter earnings of $16.1 million, or 30 cents a share, up from a year-ago profit of $5.7 million, or 12 cents a share. Revenue jumped 86% in the latest three months to $163.2 million from $88 million in the same period a year earlier. The Bedford, Mass.-based company attributed the higher earnings to an increase in product sales of its Selenia full-field digital mammography systems.
Ingersoll-Rand (NYSE:IR - News) fourth-quarter earnings fell 24% as sales of its small earthmover Bobcat vehicle slumped due to weaker demand in the North American market, the company's financial results showed Wednesday.
Jones Lang LaSalle Inc. (NYSE:JLL - News) said fourth-quarter net income rose, as revenue gained, to $80.9 million, or $2.37 a share, from $66.9 million, or $1.99 a share, during the same period in the prior year. Analysts were looking for per-share income of $2.26.
Kinetic Concepts (NYSE:KCI - News) was upgraded to buy from hold at Deutsche Bank.
Levitt Corp. (NYSE:LEV - News) agreed to be acquired by BFC Financial Corp. (NYSEArca:BFF - News) for $286 million in stock. In addition, Levitt said preliminary figures show its home building division generated fourth-quarter revenue of $143.6 million, with 426 homes delivered in the quarter at a margin of 19.6%. Backlog at Dec. 31 was 1,248 units with a sales value of $438.2 million. New home orders totaled 204, but were partly offset by 122 cancellations. The company said it has entered into sales contracts to dispose of certain properties and is expected to realize a pre-tax loss of $9.0 million upon disposition, and will write-off $1.4 million in pre-acquisition costs for properties which will not be acquired.
Lone Star Technologies (NYSE:LSS - News) said its fourth-quarter earnings fell to $18.1 million, or 58 cents a share, from $70.9 million, or $2.28 a share, a year earlier, hurt by an income-tax expense. Analysts surveyed by Thomson Financial expected, on average, quarterly earnings of 58 cents a share, before items. The Dallas oilfield pipe and tubing company's revenue for the quarter decreased to $334.8 million from $337.5 million a year ago. Wall Street expected quarterly revenue of $334 million.
New York Times Co. (NYSE:NYT - News) swung to a fourth-quarter loss after an $814 million charge for write-downs, staff-reduction costs and accelerated depreciation.
Omnicell (NasdaqGM:OMCL - News) shares jumped after the company posted fourth-quarter earnings of $3.8 million, or 13 cents a share, up from a year-ago profit of $2.2 million, or 8 cents a share. Revenue rose 26.4% in the latest three months to $42.3 million. The Mountain View, Calif., provider of patient safety technology products said its product backlog ended the quarter at $114.3 million, up 64.2% from the same period a year ago.
O'Reilly Automotive (NasdaqGS:ORLY - News) was upgraded to outperform from neutral at Credit Suisse. The firm lifted its price target on the stock to $38 from $36.
Quicksilver Resources (NYSE:KWK - News) was upgraded to outperform from neutral at Credit Suisse. The firm also boosted its price target on the stock to $47 from $43.
Panera Bread Co. (NasdaqGS:PNRA - News) said same bakery-cafe sales rose 0.8% in January from the same month a year ago. The St. Louis bakery-cafe chain said company-owned same-store sales rose 0.7% while franchise-operated sales were up 0.9%.
ProQuest (NYSE:PQE - News) said Alan Aldworth is leaving its chairman, president and CEO positions, effective immediately. The company named Richard Surratt president and CEO. Surratt had served as the CFO of the Ann Arbor, Mich., publishing company.
RedEnvelope Inc. (NasdaqGM:REDE - News) said third-quarter net income rose, as revenue gained, to $5.31 million, or 56 cents a share, from $4.1 million, or 43 cents a share, during the same period in the prior year. The branded online retailer said quarterly revenue rose to $57 million from $53 million in the prior year.
Red Robin Gourmet Burgers Inc. (NasdaqGS:RRGB - News) said it has signed a non-binding letter of intent to acquire the assets of 17 its franchised restaurants in California for $47.5 million, minus any assumed debt.
Sierra Health Services Inc. (NYSE:SIE - News) reported fourth-quarter net earnings of $39.3 million, or 65 cents a share, compared with $28.3 million, or 44 cents a share, in the same period last year, boosted by higher medical premiums revenue.
Sirf Technology Holdings Inc. (NasdaqGS:SIRF - News) reported fourth-quarter net earnings of $9.1 million, down from $10.23 million in the same period the prior year, mainly due to higher stock-based compensation and acquisition-related contingent payments.
U.S. Concrete (NasdaqGM:RMIX - News) said it sees fourth-quarter revenue of $211 million, compared with its prior view of $195 million to $205 million. The company cited stronger-than-anticipated sales volumes of ready-mixed concrete, partially attributable to relatively mild winter conditions. Analysts polled by Thomson Financial are looking for quarterly revenue of $204 million. U.S. Concrete said it sees a fourth-quarter net loss of 62 cents to 63 cents per share, a view that includes a 70-cent-per-share after-tax goodwill impairment charge associated with its Michigan assets. Excluding the charge, the company expects income for the fourth quarter of 7 to 8 cents per share, compared with its November outlook of 3 to 7 cents. Analysts are looking for per-share income of 5 cents.
Published by Michael Baron at MarketWatch

Labels: AVNR, BA, BMY, CGA, CHRW, CKFR, CPRX, DISH, EL, FTO, HOLX, HRS, HSTX, IR, JLL, KCI, SNY

Altria Group Inc., the food and tobacco conglomerate, on Wednesday said fourth-quarter profit rose 29.3 percent on the strength of acquisitions, favorable currency comparisons and pricing strength internationally.
Net income increased to $2.96 billion, or $1.40 per share, in the October-December period from $2.29 billion, or $1.09 per share, a year ago.
Revenue in the quarter rose 3.7 percent to $25.4 billion from $24.49 billion a year ago.
Excluding one-time charges such as asset impairment and exit costs, earnings for the quarter rose 8.5 percent to $1.27 a share from $1.17.
Analysts polled by Thomson Financial had predicted fourth-quarter net income of $1.23 a share on $18.23 billion of revenue. The earnings estimates typically exclude one-time items.

Labels: Altria Group Inc., MO

Quiet trading ahead of FOMC statement despite a flurry of economic releases this morning. There also have been plenty of earnings reports to digest with Boeing (BA) a major reason the Dow ($INDU) is experiencing moderate gains. A further gain in crude prices has also benefited oil related stocks. Despite data on GDP and employment costs this morning, to name just a few, traders are focused on the FOMC statement due out at 2:15 ET. The advanced reading for Q4 GDP came in above expectations at growth of 3.5 percent. This was a sharp jump from the 2.0 percent seen in Q3 and 4-tenths above estimates. Real GDP growth is up 3.4 percent year on year compared with 3.0 percent in the third-quarter. The GDP deflator, a measure of prices, came in right at estimates of 1.5 percent, down from 1.9 percent in the prior quarter. The core deflator for PCEs, a favorite measure of inflation by the Fed, moved down to 2.1 percent from 2.2 percent. This report helps support the view that most Fed officials have had, which is the economy is doing well and inflation pressures, though still too high, are easing. This doesn’t bode well for those looking for a near-term rate cut, but it likely supports a view of the Fed standing pat for an extended period of time. It will be interesting to hear what the committee has to say about the economy and inflation this afternoon. In earnings news, Dow component Boeing is seeing solid gains, up more than four percent. The airline manufacturer announced Q4 earnings that more than doubled to nearly $1 billion. Adjusted earnings per shares came in at $1.16, easily surpassing estimates for 98-cents. Revenue also surpassed expectations, coming in at $17.5 billion compared to $16.5 billion. At the same time, BA raised its guidance and this has provided a bullish environment for the stock. The Dow is benefiting more than 30 points just from the gains seen in BA this afternoon. One of the big movers on the session is SiRF Technologies (SIRF). This maker of GPS chips provided an upbeat view of its upcoming earnings for the first-quarter. Last night, SIRF raised its earnings and revenue forecasts above analyst expectations and this has sent the stock higher by nearly 25 percent on the session to trade just below $30 a share.After the FOMC statement this afternoon, traders will turn their focus on Google (GOOG). The Internet giant is set to announce earnings after the bell and the stock is up nearly two percent ahead of this release. Estimates are for GOOG to announce that profits rose 88 percent. Of course, when a release is highly anticipated, it can often lead to declines on the actual report, so be aware of this risk.
Jody Osborne

Labels: BA, GOOG, SIRF

Repros Therapeutics Inc. (NasdaqGM:RPRX - News) announced the pricing of its public offering of 2.61 million shares at $13.75 each. The underwriters have a 30-day option to purchase up to an additional 390,000 shares of common stock to cover over-allotments, if any, the company said.
Saifun Semiconductor (NasdaqGS:SFUN - News) shares slumped after the company reported fourth-quarter earnings of $6.3 million, or 20 cents per share, down from a year-ago profit of $8.6 million, or 15 cents a share. Revenue at the Israeli chip company declined to $14 million in the quarter from $16.7 million a year ago.
SanDisk (NasdaqGS:SNDK - News) said it swung to a fourth-quarter loss from a year ago, hurt by acquisition-related charges, as sales surged amid increased demand for its NAND flash-memory storage chips used in consumer electronics.
Sepracor Inc. (NasdaqGS:SEPR - News) said fourth-quarter earnings rose to $99.1 million, or 85 cents a share, from $36.9 million, or 31 cents a share, a year earlier. The results include a 12 cents a share charge for stock-based compensation. Revenue increased to $357.2 million from last year's $311.1 million. Analysts surveyed by Thomson Financial had been expecting earnings of 62 cents a share and revenue of $341.4 million, on average.
Selective Insurance Group (NasdaqGS:SIGI - News) was initiated with a market perform rating at Wachovia Securities, citing concerns about increasing competition.
Silicon Laboratories (NasdaqGS:SLAB - News) forecast revenue of $106 million to $111 million for the fiscal first quarter, below Wall Street's current consensus estimate for revenue of $113.5 million in the March period.
Tekelec (NasdaqGM:TKLC - News) was downgraded to hold at Jefferies & Co.
Time Warner Inc. (NYSE:TWX - News) reported fourth-quarter net income of $1.75 billion, or 44 cents a share, up from $1.3 billion, or 28 cents, earned in the same period during 2005. Earnings from continuing operations improved to 43 cents a share from 28 cents, the New York-based media giant's results showed. Backing out one-time items, Time Warner said it would have earned 22 cents a share for the latest quarter. Quarterly revenue reached $12.47 billion from the prior year's $11.52 billion. Analysts were looking for earnings of 22 cents a share on revenue of $12.46 billion, according to estimates compiled by Thomson First Call. The company also said it expects to wrap up a $20 billion stock-buyback program during the first half of 2007.
Tupperware Brands Corp. (NYSE:TUP - News) reported fourth-quarter net earnings of $39.9 million, or 65 cents a share, up 28% from $31.2 million, or 51 cents a share, during the year-ago period. Earnings after adjustments were 74 cents a share.
Websense (NasdaqGS:WBSN - News) shares tumbled after the company said its fourth-quarter earnings fell 30%, due in part to the cost of starting distribution of its software through Ingram Micro Inc. in North America. The San Diego provider of employee Internet management software had fourth-quarter earnings of $7.78 million, or 17 cents a share, compared with $11.1 million, or 23 cents a share, a year earlier. Excluding stock-based compensation expense, the company earned $11.4 million, or 25 cents a share, up 3% from a year earlier. Revenue for the quarter ended Dec. 31 rose 18% to $47.3 million from $40.1 million a year ago. Analysts surveyed by Thomson Financial expected, on average, earnings of 25 cents a share on revenue of $48 million. Analyst earnings forecasts typically exclude unusual items. In addition, Websense said it expects first-quarter earnings of 9 to 11 cents a share and first-quarter non-GAAP earnings of 19 to 21 cents a share.
W Holding Co. (NYSE:WHI - News) shares fell after the company posted a profit of $17.9 million, or 5 cents a share, for the fourth quarter, down nearly 41% from last year's earnings of $30.2 million, or 12 cents a share. The holding company for Westernbank Puerto Rico attributed the latest results to increases in its current income tax provision, non-interest expenses, and its provision for loan losses.
YMI Biosciences (AMEX:YMI - News) shares plunged after the company said it's terminating a phase III trial of testmilifene, a proposed advanced breast cancer treatment. The company said the move follows a recommendation from the independent Data Safety Monitoring Board that the trial be stopped because interim analysis indicates "it is very unlikely significant differences in overall survival will be shown" between treatment arms as the data mature. A.G. Edwards downgraded the company to hold from buy following the news.
Published By MarketWatch

Labels: RPRX, SEPR, SFUN, SIGI, SLAB, SNDK, TKLC, TUP, TWX, WBSN, WHI, YMI

Acco Brands Corp. (NYSE:ABD - News) was downgraded to neutral from outperform at Credit Suisse.
Align Technology (NasdaqGM:ALGN - News) was downgraded to market perform from outperform at Barrington Research, citing valuation.
Allergan Inc. (NYSE:AGN - News) reported fourth-quarter earnings of $136.8 million, or 89 cents a share, down from a year-ago profit of $140.1 million, or $1.03 a share. On an adjusted basis, excluding certain charges, the company earned $156.5 million, or $1.02 a share, in the latest quarter. The average estimate of analysts polled by Thomson Financial was for a profit of $1.02 a share in the December period. Looking ahead, the Irvine, Calif., medical and healthcare products company said it expects adjusted earnings of $4.27 to $4.31 a share for fiscal 2007 on total product net sales of between $3.46 billion and $3.63 billion. For the first quarter, it sees adjusted earnings of 88 to 90 cents a share on total product net sales of between $830 million and $850 million. Wall Street's current consensus estimates are for earnings of $4.31 a share for the year and 98 cents a share for the March quarter.
Allstate (NYSE:ALL - News) reported a 17% increase in fourth-quarter profit, but the insurer's results missed analyst estimates and the company said it will stop giving profit forecasts.
Buckeye Technologies' (NYSE:BKI - News) said second-quarter net income more than doubled to $3.82 million, or 10 cents a share, from $1.85 million, or 5 cents a share, a year earlier, as the company cut costs. The Memphis cellulose and absorbent products company's sales dropped 1.9% to $184.7 million from $188.3 million. Costs of goods sold fell 4.2% to $155.7 million from $162.5 million. On average, analysts expected the company to post earnings of 11 cents a share and revenue of $199.5 million, according to Thomson Financial.
Calumet Specialty Products (NasdaqGM:CLMT - News) was downgraded to neutral from buy at Goldman Sachs.
Celestica (NYSE:CLS - News) shares fell after the company said its fourth-quarter net loss widened to $60.8 million, or 27 cents a share, from $28.2 million, or 12 cents a share, as costs of sales rose. The most recent quarter's results include a $30 million net charge related to an increase in inventory at a Mexico facility and a $59 million restructuring charge. Excluding amortization of intangible assets, among other items, the Canada-based provider of electronics manufacturing services posted per-share earnings of 3 cents vs. 13 cents in the prior year. Revenue rose 9% to $2.26 billion from $2.08 billion. The company sees an adjusted first-quarter per-share loss of 4 to 15 cents, on revenue of $1.7 billion to $1.9 billion. The company was also downgraded to underperform from peer perform at Bear Stearns.
U.S.-listed shares of Chinese companies fell, tracking steep losses in their home market after a senior legislator said the market may be overheated after a 130% gain in 2006. The comments by Cheng Siwei, vice-chairman of the standing committee of the National People's Congress, in an interview with the Financial Times, raised concerns the Chinese government may take official action to cool speculation after the market hit a record high last week. Chinese ADRs such as Guangshen Railway (NYSE:GSH - News), China Mobile (NYSE:CHL - News), Aluminum Corp. China (NYSE:ACH - News), China Life Insurance (NYSE:LFC - News) and Sinopec (NYSE:SNP - News) were all markedly lower.
Electronics For Imaging's (NasdaqGS:EFII - News) fourth-quarter earnings fell 38% to $7.08 million, or 12 cents a share, from $11.4 million, or 18 cents a share, a year earlier. On a non-GAAP basis, the Foster City, Calif., provider of digital controllers said earnings fell to $22.6 million, or 35 cents a share, from $23.1 million, or 36 cents a share. Revenue rose 5.8% to $153.9 million from $145.4 million in the year-ago period. The company expects to delay its Form 10-K filing for 2006 due to its ongoing stock-option grant investigation. The company sees first-quarter non-GAAP earnings of 25 to 27 cents a share on revenue of $140 million to $143 million.
Haemonetics' (NYSE:HAE - News) shares tumbled after the maker of automated blood processing systems provider forecast earnings of adjusted $2.05 to $2.17 per share for fiscal 2007 with revenue expected to rise between 7% and 9%. The company said this view reflect expectations for continued sales declines in its Japanese business.
Juniper Networks Inc. (NasdaqGS:JNPR - News) reported fourth-quarter revenue rose 4% to $595.8 million, from $575.5 during the same period one year ago. The sales figure slightly topped the estimates of Wall Street analysts surveyed by Thomson Financial, who had forecast $593 million.
Key Tronic (NasdaqGM:KTCC - News) shares dropped after the Spokane, Wash., provider of electronic manufacturing services posted a second-quarter profit of $300,000, or 3 cents a share, down from a profit of $1 million, or 10 cents a share, last year. The latest results include a charge of $940,000 related to a customer unexpectedly declaring bankruptcy in December. Key Tronic also said that new customer programs weren't enough to offset reduced demand from certain existing customers in the latest quarter.
Manitowoc Co. (NYSE:MTW - News) reported fourth-quarter net earnings of $43.9 million, or 69 cents a share, compared with $18.2 million, or 30 cents a share, in the same period last year, on strong revenues in the company's crane segment.
NutriSystem (NasdaqGS:NTRI - News) shares fell after the Horsham, Pa., provider of weight management and fitness products and services forecast first-quarter earnings of 82 to 86 cents a share on revenue of between $200 million and $210 million. Wall Street's current consensus estimate is for a profit of 94 cents a share in March period on revenue of $214 million.
Public Service Enterprise Group (NYSE:PEG - News) said its fourth-quarter earnings from continuing operations fell to $173 million, or 69 cents a share, from $227 million, or 92 cents, a year earlier. The average earnings estimate of seven analysts surveyed by Thomson Financial was 74 cents a share.
Regeneron Pharmaceuticals (NasdaqGM:REGN - News) was initiated with an average rating at Caris & Co.
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Omnicell (NasdaqGM:OMCL - News) shares jumped after the company posted fourth-quarter earnings of $3.8 million, or 13 cents a share, up from a year-ago profit of $2.2 million, or 8 cents a share. Revenue rose 26.4% in the latest three months to $42.3 million. The Mountain View, Calif., provider of patient safety technology products said its product backlog ended the quarter at $114.3 million, up 64.2% from the same period a year ago.
O'Reilly Automotive (NasdaqGS:ORLY - News) was upgraded to outperform from neutral at Credit Suisse. The firm lifted its price target on the stock to $38 from $36.
Quicksilver Resources (NYSE:KWK - News) was upgraded to outperform from neutral at Credit Suisse. The firm also boosted its price target on the stock to $47 from $43.
Panera Bread Co. (NasdaqGS:PNRA - News) said same bakery-cafe sales rose 0.8% in January from the same month a year ago. The St. Louis bakery-cafe chain said company-owned same-store sales rose 0.7% while franchise-operated sales were up 0.9%.
ProQuest (NYSE:PQE - News) said Alan Aldworth is leaving its chairman, president and CEO positions, effective immediately. The company named Richard Surratt president and CEO. Surratt had served as the CFO of the Ann Arbor, Mich., publishing company.
RedEnvelope Inc. (NasdaqGM:REDE - News) said third-quarter net income rose, as revenue gained, to $5.31 million, or 56 cents a share, from $4.1 million, or 43 cents a share, during the same period in the prior year. The branded online retailer said quarterly revenue rose to $57 million from $53 million in the prior year.
Sierra Health Services Inc. (NYSE:SIE - News) reported fourth-quarter net earnings of $39.3 million, or 65 cents a share, compared with $28.3 million, or 44 cents a share, in the same period last year, boosted by higher medical premiums revenue.
Sirf Technology Holdings Inc. (NasdaqGS:SIRF - News) reported fourth-quarter net earnings of $9.1 million, down from $10.23 million in the same period the prior year, mainly due to higher stock-based compensation and acquisition-related contingent payments.
U.S. Concrete (NasdaqGM:RMIX - News) said it sees fourth-quarter revenue of $211 million, compared with its prior view of $195 million to $205 million. The company cited stronger-than-anticipated sales volumes of ready-mixed concrete, partially attributable to relatively mild winter conditions. Analysts polled by Thomson Financial are looking for quarterly revenue of $204 million. U.S. Concrete said it sees a fourth-quarter net loss of 62 cents to 63 cents per share, a view that includes a 70-cent-per-share after-tax goodwill impairment charge associated with its Michigan assets. Excluding the charge, the company expects income for the fourth quarter of 7 to 8 cents per share, compared with its November outlook of 3 to 7 cents. Analysts are looking for per-share income of 5 cents.

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Avanir Pharmaceuticals (NasdaqGM:AVNR - News) received an approvable letter and acceptable labeling from the FDA for a new formulation of its antipsychotic drug FazaClo.
Boeing Co. (NYSE:BA - News) reported fourth-quarter earnings of $989 million, or $1.29 a share, up from a year-ago profit of $460 million, or 58 cents a share. On a continuing operations basis, the Dow component earned $980 million, or $1.28 a share, in the latest quarter. On an adjusted basis, excluding tax benefits as well as discontinued operations, the Chicago-based aerospace giant earned $1.16 a share, in the latest quarter, compared to 74 cents a share last year. Revenue rose in the three months ended Dec. 31 to $17.54 billion from $13.9 billion in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 98 cents a share in the December period on revenue of $16.48 billion. The company also lifted its outlook for fiscal 2007 to earnings of $4.55 to $4.75 a share. The current average estimate of analysts polled by Thomson Financial is for a profit of $4.75 a share for the year. It forecast earnings of $5.55 to $5.75 a share for fiscal 2008, saying this view reflects expectations for strong revenue growth and expanding margins across all of its businesses.
Bristol-Myers Squibb (NYSE:BMY - News) shares rose following a report in The Financial Times that the company has hired Lehman Bros., Morgan Stanley and Citigroup to help it field possible takeover bids. Earlier in the week, a report surfaced that the company had drawn acquisition interest from French conglomerate Sanofi-Aventis (NYSE:SNY - News).
Catalyst Pharmaceutical Partners (NasdaqGM:CPRX - News) was initiated with a buy rating at Stifel Nicolaus with a $9 price target.
C.H. Robinson Worldwide Inc. (NasdaqGS:CHRW - News) reported fourth-quarter net income of $71.8 million, or 41 cents a share, up from $58.1 million, or 33 cents, a year ago. Quarterly revenue for the trucking company rose to $1.64 billion from $1.58 billion.
CheckFree Corp. (NasdaqGS:CKFR - News) reported a slight profit gain on advances in its core business. For its fiscal second-quarter, CheckFree said net income rose 4% to $35.3 million or 39 cents a share, compared to $33.8 million or 36 cents a share a year ago.
Corus Group Plc (NYSE:CGA - News) shares leapt after India's Tata Steel won a bidding war to acquire the Anglo-Dutch steelmaker for $12.1 billion.
EchoStar Communications (NasdaqGS:DISH - News) was upgraded to overweight from equal-weight at Morgan Stanley. The firm lifted its price target on the shares to $44 from $40.
Estee Lauder (NYSE:EL - News) said its fiscal second-quarter net income more than doubled to $208.4 million, or 99 cents a share, from $81.7 million, or 38 cents a share, a year earlier. The New York cosmetics company said second-quarter income from continuing operations increased 39% to $208.5 million, or 99 cents a share, from $150.4 million, or 70 cents a share, and net sales advanced 12% to $1.99 billion from $1.78 billion. Analysts surveyed by Thomson Financial, on average, had been expecting Estee Lauder to earn 76 cents a share on net sales of $1.91 billion for the second quarter ended Dec. 31. The maker of Aveda and Clinique products expects third-quarter earnings from continuing operations to be about flat from a year earlier as sales rise 4% to 6%.
Frontier Oil (NYSE:FTO - News) was upgraded to neutral from underperform at Credit Suisse.
Harris Corp. (NYSE:HRS - News) said second-quarter net income rose, as revenue gained, to $94 million, or 67 cents a share, from $30 million, or 22 cents a share, during the same period in the prior year. Before items, quarterly per-share income rose to 68 cents from 52 cents in the prior year.
Harris Stratex Networks (NasdaqGM:HSTX - News) was initiated with a buy rating at Merriman Curhan Ford & Co.
Hologic Inc. (NasdaqGS:HOLX - News) reported fiscal first-quarter earnings of $16.1 million, or 30 cents a share, up from a year-ago profit of $5.7 million, or 12 cents a share. Revenue jumped 86% in the latest three months to $163.2 million from $88 million in the same period a year earlier. The Bedford, Mass.-based company attributed the higher earnings to an increase in product sales of its Selenia full-field digital mammography systems.
Ingersoll-Rand (NYSE:IR - News) said fourth-quarter net income for the three months ended Dec. 31 fell to $222 million, or 72 cents a share, from $291.6 million, or 87 cents a share in the year-ago period. Earnings from continuing operations in the latest quarter were 74 cents a share. Revenue increased by 7% to $2.89 billion. Analysts surveyed by Thomson Financial forecast earnings of 73 cents a share, on average. Full-year 2007 earnings from continuing operations are forecasted at $3.61 to $3.71 a share, compared to the Thomson Financial estimate of $3.55 a share.
Jones Lang LaSalle Inc. (NYSE:JLL - News) said fourth-quarter net income rose, as revenue gained, to $80.9 million, or $2.37 a share, from $66.9 million, or $1.99 a share, during the same period in the prior year. Analysts were looking for per-share income of $2.26.
Kinetic Concepts (NYSE:KCI - News) was upgraded to buy from hold at Deutsche Bank.
Levitt Corp. (NYSE:LEV - News) agreed to be acquired by BFC Financial Corp. (NYSEArca:BFF - News) for $286 million in stock. In addition, Levitt said preliminary figures show its home building division generated fourth-quarter revenue of $143.6 million, with 426 homes delivered in the quarter at a margin of 19.6%. Backlog at Dec. 31 was 1,248 units with a sales value of $438.2 million. New home orders totaled 204, but were partly offset by 122 cancellations. The company said it has entered into sales contracts to dispose of certain properties and is expected to realize a pre-tax loss of $9.0 million upon disposition, and will write-off $1.4 million in pre-acquisition costs for properties which will not be acquired.
Lone Star Technologies (NYSE:LSS - News) said its fourth-quarter earnings fell to $18.1 million, or 58 cents a share, from $70.9 million, or $2.28 a share, a year earlier, hurt by an income-tax expense. Analysts surveyed by Thomson Financial expected, on average, quarterly earnings of 58 cents a share, before items. The Dallas oilfield pipe and tubing company's revenue for the quarter decreased to $334.8 million from $337.5 million a year ago. Wall Street expected quarterly revenue of $334 million.
New York Times Co. (NYSE:NYT - News) swung to a fourth-quarter loss on an $814 million charge for the write-down of intangible assets at the New England Media Group, staff-reduction costs and accelerated depreciation of its Edison, N.J., printing plant. The New York media company reported a fourth-quarter loss of $648 million, or $4.50 a share, compared with earnings of $63.2 million, or 43 cents, a year earlier. Excluding the charges, the company earned $87.9 million, or 61 cents a share, in the latest quarter. The company said revenue for the three months ended Dec. 31 rose 4.3% to $931.5 million from $893.1 million a year ago. Analysts surveyed by Thomson Financial expected, on average, earnings of 46 cents a share on revenue of $904 million. Analyst earnings forecasts typically exclude unusual items. In addition, New York Times Co. said it expects to complete the sale of its Broadcast Media group for $575 million in the first half of 2007.
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Oil prices fell more than $1 Wednesday as the market adjusted to a spike the day before and digested a big jump in U.S. crude and gasoline inventories.
Crude oil rose last week by 2.7 million barrels to 324.9 million barrels, the Energy Information Administration said in its weekly report Wednesday.
Gasoline inventories rose by 3.8 million barrels to 224.6 million barrels, while distillate inventories -- which include heating oil and diesel fuel -- fell by 2.6 million barrels to 140.0 million barrels. A decrease in heating oil surpassed a small increase in diesel fuel.
The results were close to what most traders were expecting, and reaffirmed the belief that U.S. supplies of crude and gasoline remain ample.
Light, sweet crude for March delivery fell $1.05 to $55.92 in morning trading on the New York Mercantile Exchange. Brent crude for March delivery dipped $1.15 to $55.25 a barrel on the ICE Futures exchange in London.
Nymex heating oil futures were down nearly 2 cents at $1.6190 a gallon.
Gasoline futures fell more than 3 cents to $1.4875 a gallon.
Natural gas futures dropped more than 23 cents to $7.508 per 1,000 cubic feet.
Oil and natural gas prices jumped Tuesday on expectations of more cold weather in the United States and renewed concerns about OPEC production cuts. Oil traded as high as $57.05 before falling back to settle at $56.97 a barrel, a gain of $2.96.
Natural gas had soared more than 80 cents, or 11.6 percent, on forecasts that predict temperatures will dip below freezing in the U.S. Midwest, the heart of the natural gas market.
Colder-than-normal temperatures are expected through mid-February in the U.S. Northeast, which is responsible for 80 percent of the country's heating oil consumption.
The market could rebound again, with OPEC leader Saudi Arabia and other members of the Organization of Petroleum Exporting Countries seemingly ready to pay more attention to agreed-on production constraints.
Published by Madlen Read, AP Business Writer

Labels: Gasoline, Oil

Most Under Priced Calls: These are the most under priced calls of all stocks in our database. While the Equities Explosion List finds groups of calls for individual equities that are under priced, this list finds the most under priced individual calls. Thus, the options listed here will tend to be more severely under priced.
Diamond Offshore Drilling Mar 85 Calls (NYSE:DO - News). DO's PowerRating is 5.
Most Under Priced Puts: These are the most under priced puts of all stocks in our database. While the Equities Explosion List finds groups of puts for individual equities that are under priced, this list finds the most under priced individual puts. Thus, the options listed here will tend to be more severely under priced.
Zimmer Holdings Mar 85 Puts (NYSE:ZMH - News). ZMH's PowerRating is 5.
Most Overpriced Calls: These are the most overpriced calls of all stocks in our database. While the Equities Implosion List finds groups of calls for individual equities that are overpriced, this list finds the most overpriced individual calls. Thus, the options listed here will tend to be more severely overpriced.
Electronic Arts Feb 50 Calls (NasdaqGS:ERTS - News). ERTS' PowerRating is 4.
Most Overpriced Puts: These are the most overpriced puts of all stocks in our database. While the Equities Implosion List finds groups of puts for individual equities that are overpriced, this list finds the most overpriced individual puts. Thus, the options listed here will tend to be more severely overpriced.
Google Mar 450 Puts (NasdaqGS:GOOG - News). GOOG's PowerRating is 5.
Stocks with Abnormal Call Volume: These are stocks which showed unusual call option volume not easily explained by arbitrage operations. The appearance of a stock on the Call Volume Alerts list suggests a possible takeover, extraordinarily good earnings report, or other news which may favorably affect the stock.
Harris Group (NYSE:HRS - News). HRS' PowerRating is 6.
Stocks with Abnormal Put Volume: These are stocks which showed unusual put option volume not easily explained by arbitrage operations. The appearance of a stock on the Put Volume Alerts list suggests an extraordinarily negative earnings report, or other news which may negatively affect the stock.
None today.
Abnormal Put/Call $ Volume: These stocks have the highest dollar put volume in relation to their call volume. These high ratios are indicative of extreme bearish sentiment in the underlying stock.
Symantec (NasdaqGS:SYMC - News). SYMC's PowerRating is 6.
PowerRatings are courtesy of PowerRatings.net

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