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Agnico-Eagle Mines Ltd. (NYSE:AEM - News) reported fourth-quarter earnings more than doubled to 35 cents a share from 13 cents in the year-earlier period. The Toronto gold producer's revenue nearly doubled to $138.4 million from $71.4 million.

Ambassadors International (NasdaqGM:AMIE - News) shares climbed after Carnival Corp. (NYSE:CUK - News) said it signed a definitive agreement to sell its Windstar Cruises brand to Ambassadors $100 million. Carnival said the purchase price includes $40 million cash and the assumption of liabilities, and Carnival will provide mortgage financing for the remaining $60 million. Windstar Cruises operates three vessels and is a unit of Carnival's Holland America Line subsidiary.
Analog Devices Inc. (NYSE:ADI - News) fiscal first-quarter profit rose 26% on 6% higher sales. It sold more microchips used in industrial equipment and consumer electronics.
Arrow Electronics (NYSE:ARW - News) reported fourth-quarter earnings of $128.1 million, or $1.04 a share, up from a year-ago profit of $74.4 million, or 60 cents a share. Excluding certain items, such as restructuring charges and a gain from a tax settlement, the Melville, N.Y., electronics components distributor said it earned $92.2 million, or 75 cents a share, in the latest quarter. Sales rose in the latest three months to $3.49 billion from $2.96 billion in the same period a year earlier. The average estimate of analysts polled by Thomson Financial was for a profit of 73 cents a share in the December period. Looking ahead, Arrow sees earnings of 72 to 76 cents a share in the first quarter on sales ranging from $3.525 billion to $3.725 billion. Wall Street's current consensus estimate is for earnings of 74 cents a share in the March period.
Catalina Marketing Corp. (NYSE:POS - News) said it received an unsolicited proposal from ValueAct Capital Master Fund LP to acquire by merger all of the Catalina stock it doesn't already own, for $32 a share. Jeffrey Ubben, a Catalina director since May 2006, is principal owner of ValueAct, according to a statement. Catalina said it advised ValueAct that its proposal is under consideration by the company's board of directors.
Ensco International Inc.'s (NYSE:ESV - News) fourth-quarter net income rose to $210.4 million, or $1.39 a share, from $103.6 million, or 67 cents a share, a year ago. Earnings from continuing operations for the quarter were $1.36 a share, up from 65 cents a year ago. A Thomson Financial survey of analysts, on average, predicted earnings of $1.29 a share for the quarter. Analysts' estimates usually exclude items. The Dallas provider of contract drilling services said revenue for the quarter rose 51% to $470.6 million from $311.3 million last year. The company is "positive" about its 2007 outlook and expects first quarter results to be improved compared to the fourth quarter.
First Data Corp. (NYSE:FDC - News) said it would exit its official check and money-order operations over two to three years. The wind-down will free up $250 million to $300 million of cash for potential acquisitions, share repurchases and other purposes this year, FDC said.
Friedman, Billings, Ramsey Group Inc. (NYSE:FBR - News) reported a turn back to profit in the fourth quarter on Thursday, although the company today remained solidly in the red for the full year 2006. Friedman, Billings said it earned $3.8 million, or 2 cents a share, reversing a loss of $271.6 million, or $1.60 a share, in the year-ago period. Revenue came in at just under $176 million, vs. negative revenue of $114 million due to an investment loss in the same quarter of 2005. For the full year 2006, Friedman, Billings lost 39 cents a share, compared to a loss of $1.01 a share in 2005.
General Maritime Corp.'s (NYSE:GMR - News) fourth-quarter net income fell 79% on 56% lower revenue, hurt by lower spot charter rates and a smaller fleet.
HealthSpring Inc.'s (NYSE:HS - News) fourth-quarter net income more than tripled to 35 cents from 10 cents in the year-earlier period. The Nashville provider of prescription-drug plans posted revenue of $335.7 million, up from $246.1 million. The company still expects 2007 earnings of $1.55 and $1.65 a share on revenue of $1.5 billion to $1.6 billion.
Hilb Rogal & Hobbs Co. (NYSE:HRH - News) fourth-quarter earnings rose to 59 cents a share from 54 cents in the year-earlier period. Revenue at the Richmond, Va., insurance and risk management intermediary climbed to $175.5 million from $164 million. Lamar Advertising Co.'s board declared a special dividend of $3.25 a share, payable March 30 to shareholders of record March 22.
Industrial Distribution Group Inc. (NasdaqGM:IDGR - News), a maker and distributor of cutting tools and abrasives, said fourth-quarter net income rose 33% to $1.9 million, or 20 cents a share, from $1.5 million, or 15 cents a share, a year earlier. Sales climbed 1% to $131.6 million. Gross margins in the quarter came in at 23% compared to 22.4% in the year-ago period.
J.C. Penney Co. (NYSE:JCP - News) on Thursday said fourth-quarter net income slipped to $477 million, or $2.09 a share, from $551 million, or $2.34 a share, in the year-ago period. On a continuing operations basis, it earned $2 a share vs. $1.92 a year earlier. Total net sales rose to $6.66 billion from $6.2 billion, while sales at stores open at least one year rose 2.2%. Analysts, on average, expected it to earn $1.97 a share on revenue of $6.64 billion, according to Thomson Financial. For the first quarter, Plano, Texas-based J.C. Penney expects to earn 99 cents a share, for the year it is targeting profit at $5.44 a share. Analysts polled by Thomson Financial expect it to earn $1.05 a share for the first quarter and $5.42 for the year.
Monarch Casino & Resort Inc. (NasdaqGS:MCRI - News) shares rose after Standard & Poor's said it will add the company to the S&P SmallCap 600 index on a date to be announced, replacing Advo Inc. (NYSE:AD - News).
Moscow CableCom Corp.: (NasdaqGM:MOCC - News) Renova Media Enterprises Ltd. agreed to acquire the equity in Moscow CableCom that it does not already own for $12.90 a share and an equivalent price for Moscow CableCom's Series A convertible preferred stock.
National Semiconductor (NYSE:NSM - News) was upgraded to overweight from equal-weight by Morgan Stanley. "Following three consecutive quarters with negative surprises, we believe that National Semiconductor's fundamentals will likely bottom in the current quarter. Although we expect the ensuing recovery in fundamentals to be slow and potentially choppy during the next couple of quarters, we expect the company's underlying earnings power to show solid signs of improvement during the next couple of years, and this trend should drive NSM higher," the broker said.
OfficeMax Inc. (NYSE:OMX - News)earned 76 cents a share in the fourth quarter, compared with a loss of 62 cents in the year-earlier period. Excluding items, the office-supply retailer earned 48 cents a share compared with 7 cents. From continuing operations, OfficeMax earned 71 cents. Sales fell to $2.26 billion from $2.46 billion. Analysts, on average, expected it to earn 40 cents on revenue of $2.31 billion, according to Thomson Financial. In the retail segment, sales at stores open at least one year fell 0.4%.
PDL BioPharma Inc. (NasdaqGS:PDLI - News) reported that its fourth-quarter net loss widened to 78 cents a share from 31 cents in the year-earlier quarter. Excluding one-time items, the Fremont, Calif., biopharmaceutical company earned 5 cents a share. Revenue climbed to $107.8 million from $83.7 million. For 2007, PDL forecast earnings of 38 cents to 54 cents a share on revenue of $450 million to $500 million. Wall Street is currently forecasting 64 cents on revenue of $495.7 million.

Published By MarketWatch

Labels: AD, ADI, AEM, AMIE, ARW, CUK, ESV, FBR, FDC, GMR, HRH, HS, IDGR, JCP, MCRI, MOCC, NSM, OMX, PDLI, POS

1 800 Flowers.com (NasdaqGS:FLWS - News) was downgraded to sell from neutral by Goldman Sachs on valuation groups, as the shares are about 15% above its year-end price target of $6.50. "Calendar year 2008 to 2011 revenue growth above 5% is unlikely without greater-than-expected levels of spending, which would put our 13% profit growth estimate, and thus our price target, at risk. The current share price may reflect an overly optimistic outlook for Valentine's Day, Easter, and Mother's Day," the broker said.
Advancis Pharmaceutical (NasdaqGM:AVNC - News) has received a "refusal to file" letter from the Food and Drug Administration for its Amoxicillin Pulsys new-drug application. The Germantown, Md., pharmaceutical company said the letter requests additional information on its planned commercial manufacturing processes. Last December, Advancis submitted an NDA for once-daily Amoxicillin Pulsys to treat adolescents and adults with acute strep throat. The company plans to meet with the FDA as soon as possible to discuss the issues and to reach agreement on what additional information is required for the filing to be accepted.
Agnico-Eagle Mines Ltd (NYSE:AEM - News) agreed to buy Cumberland Resources Ltd in an all-stock deal valuing the Canadian gold mining company at C$710 million ($605 million). Agnico-Eagle said it will exchange 0.185 of its shares for every Cumberland share, representing a 28.8% premium to Cumberland's closing price on Feb. 13. Cumberland owns the Meadowbank gold project, which is currently under construction with proven and probable reserves of 2.9 million ounces. Production is due to begin in 2010 and will increase projected gold production at Agnico-Eagle by 39% in 2010 to 1.3 million ounces.
Carter (NYSE:CRI - News) shares tumbled after the company said its fourth-quarter net sales rose 7.7% to $377.5 million and earnings were 45 cents a share, including charges of 1 cent a share for share-based compensation and 1 cent a share for amortization charges. On average, analysts polled by Thomson Financial expected earnings of 46 cents a share. The analyst estimate includes share-based compensation but excludes the amortization charges. Carter's said fourth-quarter weakness is now impacting 2007 results, which are being hurt by changes in the mix and levels of inventory in our stores. Carter's said it's made progress reducing OshKosh's cost structure in 2006, but more work is still required and the benefits won't be realized until the second half of 2007. As a result the company expects first-quarter sales of $305 million, up 3% from a year ago, and earnings of 14 cents, down 46% from a year ago. For fiscal 2007, Carter's now expects net sales of $1.4 billion to $1.42 billion, up 4% to 5%, and earnings of $1.42 to $1.49 a share, flat to up 5%. The company expects no growth in same-store sales in 2007.
Champion Enterprises Inc. (NYSE:CHB - News) fourth-quarter net income declined to 5 cents a share from 8 cents a share, in the year-earlier period. The Michigan producer of manufactured and modular homes reported revenue fell to $300.9 million from $375.5 million. Analysts polled by Thomson Financial had expected revenue of $332 million.
Choice Hotels (NYSE:CHH - News) shares pulled back after the company said its fourth-quarter earnings improved to $24.6 million, or 37 cents a share, from a year-earlier profit of $21.6 million, or 32 cents a share. On an adjusted basis, earnings were 36 cents a share. Revenue rose to $143.7 million from $122 million. Wall Street, according to Thomson Financial, expected the company to post fourth-quarter earnings of 35 cents a share and revenue of $133 million. The company expects to post first-quarter earnings of 23 cents a share and full-year earnings of $1.59 a share. Wall Street expects first-quarter earnings of 28 cents a share and 2007 earnings of $1.67 a share.
Daktronics' (NasdaqGS:DAKT - News) shares dropped after the Brookings, S.D.-based company reported fiscal third-quarter net income of $7.03 million, or 17 cents a share, compared with $4.04 million, or 10 cents a share, in the year-ago period. Revenue rose to $106.7 million from $71.1 million. Analysts were expecting a per-share profit of 16 cents on revenue of $112.6 million. The company expects fourth-quarter earnings in the range of 12 cents to 19 cents a share on revenue of $106 to $118 million.
Delta Air Lines Inc. (Other OTC:DALRQ.PK - News) said its fourth-quarter loss widened to $1.98 billion from $1.24 billion. The Atlanta airline, in Chapter 11 bankruptcy, said it recorded $1.8 billion in charges in the quarter, consisting of $2.5 billion for reorganization items and a $719 million income tax-related gain from the reversal of liabilities under its pilot pension plan. Revenue in the three months ended Dec. 31 rose 5.3% to $4.14 billion from $3.92 billion. Delta, the No. 3 network airline, said it recorded its first annual operating profit since 2000.
Gen-Probe Inc. (NasdaqGS:GPRO - News) said its fourth-quarter net earnings rose slightly to $17.1 million, or 32 cents a share, compared with $16.8 million, or 32 cents a share, in the same period last year, on the back of higher sales. Excluding stock-based compensation, the San Diego-based maker of tests to diagnose disease posted per-share earnings of 38 cents. Revenue rose 3.5% to $91.1 million from $88 million. Analysts polled by Thomson Financial had expected per-share earnings of 29 cents, on revenue of $89 million. For 2007, Gen-Probe expects per-share earnings of $1.26 to $1.34, on revenue of $380 million to $390 million. Separately, the company said it has named Carl Hull chief operating officer.
Harris Corp. (NYSE:HRS - News) was downgraded to neutral from overweight at J.P. Morgan.
Host Hotels (NYSE:HST - News) was downgraded to hold from buy at Citigroup.
La-Z-Boy (NYSE:LZB - News) swung to a third-quarter net loss of 15 cents a share, as it recorded a 28-cent loss from discontinued operations. In the year-earlier period, the furniture company earned 20 cents a share. La-Z-Boy said revenue fell to $403.9 million from $446.6 million. For the fourth quarter, the company expects sales to fall 8% to 10% from the year earlier, with earnings per share of 3 cents to 7 cents.
Masco Corp. (NYSE:MAS - News)swung to a fourth-quarter loss of 49 cents a share from net income of 41 cents, in the year-earlier period on higher impairment charges and a 5.8% decline in sales. Profit from continuing operations before items decreased to 38 cents a share from 50 cents. Fourth-quarter sales fell to $2.95 billion. Analysts surveyed by Thomson Financial, on average, expected the Taylor, Mich., company to earn 36 cents a share on revenue of $2.95 billion.
Office Depot Inc. (NYSE:ODP - News) said its fourth-quarter earnings rose to 48 cents a share from 34 cents in the year-earlier period. The 2005 results include a 53rd week. Excluding certain charges and the effect of a 53rd week in 2005, Office Depot earned 54 cents a share, up from 38 cents. The Delray Beach, Fla., office-supply retail chain said sales rose to $3.84 billion from $3.72 billion. Analysts polled by Thomson Financial, on average, expected earnings of 52 cents a share, excluding items, on revenue of $3.89 billion.
Playboy Enterprises (NYSE:PLA - News) was downgraded to neutral from buy at both UBS and Banc of America Securities. Banc of America lowered its price target to $12 from $13, while UBS cuts its target to $12.50 from $14.
PNM Resources Inc. (NYSE:PNM - News) fourth-quarter net income rose to 49 cents a share from 10 cents in the year-earlier period. The Albuquerque, N.M., energy holding company's revenue declined to $619 million from $646.5 million. Analysts polled by Thomson Financial were looking for revenue of $690 million. The board also approved a 4.6% increase in the quarterly dividend, to 23 cents a share, payable May 18 to holders as of May 1.
Stifel Financial, (NYSE:SF - News), the St. Louis brokerage and investment-banking firm, reported fourth-quarter net income rose 50% on 73% higher revenue.
Telik Inc. (NasdaqGM:TELK - News) plans to cut its workforce by about 25% as part of a corporate restructuring plan to reduce spending. The Palo Alto, Calif., biopharmaceutical company expects to record about $1.6 million in restructuring and severance costs for the first quarter. After the job cuts, the company will have about 120 employees.
Therma-Wave (NasdaqGM:TWAV - News) said KLA-Tencor Corp. has indicated that the German Federal Cartel Office initiated a Phase 2 review of KLA's proposed acquisition of Therma-Wave. Therefore, the acquisition of Therma-Wave may only be consummated if the FCO approves the acquisition. The tender offer has been extended to March 15.
United Auto Group (NYSE:UAG - News) reported fourth-quarter earnings of $29.9 million, or 32 cents a share, up from a year-ago profit of $30.1 million, or 32 cents a share. On a continuing operations basis, the company earned $31.1 million, or 33 cents a share, in the latest quarter. Revenue rose 22.8% in the latest three months to $2.88 billion from $2.35 billion a year earlier. The company said same-store retail revenue rose 7.1% in the quarter. The average estimate of analysts polled by Thomson Financial was for a profit of 33 cents a share in the December period. Looking ahead, the Bloomfield Hills, Mich., automotive retailer said it expects earnings from continuing operations of 26 to 30 cents a share for the first quarter and $1.40 to $1.50 a share for fiscal 2007. Wall Street's current consensus estimates are for earnings of 30 cents a share and $1.56 a share for the respective periods.
US Airways Group Inc. (NYSE:LCC - News) said PAR Investment Partners LP, which had been the carrier's largest holder, sold 6.5 million of its 13.5 million shares to help diversify its portfolio. After the sale, PAR Investment Partners will remain one of US Airways' largest investors, the stock will remain the largest position within PAR's portfolio, and Edward Shapiro, PAR vice president, will remain on the airline's board.
Vion Pharmaceuticals' (NasdaqCM:VION - News) shares slumped after the New Haven, Conn.-based company said it has agreed to sell up to $60 million of convertible senior notes due 2012 and warrants to purchase up to 7.8 million of its shares in a private placement. The offering is expected to close on Feb. 20. Vion expects to use the proceeds of the offering for general corporate purposes.
Watts Water Technology (NYSE:WTS - News) shares fell after the North Andover, Mass.-based maker of water safety and flow control products late Tuesday reported fourth-quarter net earnings of $18.1 million, or 51 cents a share, up from $15 million, or 45 cents a share, in the year-ago period. Revenue rose to $330.5 million from $244.4 million. Analysts polled by Thomson Financial were expecting a per-share profit of 61 cents on revenue of $313.5 million.
Weight Watchers International's (NYSE:WTW - News) fourth-quarter earnings rose to $44.3 million, or 45 cents a share, from $38.9 million, or 38 cents a share, a year earlier. Excluding a $6.3 million benefit from the reversal of tax reserves, earnings were 39 cents a share in the latest quarter. Analysts polled by Thomson Financial expected, on average, fourth-quarter earnings of 39 cents a share, before items. The New York provider of weight-management services said revenue for the fourth quarter increased 14% to $285.5 million from $251.2 million a year ago. Wall Street was looking for revenue of $275 million. Weight Watchers expects 2007 earnings of $2.33 to $2.47 a share, including 2 cents a share of debt expense.

Published By Michael Baron of MarketWatch

Labels: AEM, AVNC, CHB, CHH, CRI, DAKT, FLWS, GPRO, HRS, LCC, LZB, MAS, ODP, PLA, PNM, TELK, TWAV, UAG, VION, WTW

3M Co. (NYSE:MMM - News) was downgraded to neutral from overweight at Prudential Equity Group, which said it will take some time for the stock to regain its valuation premium. Fears over the company's optical film business have been extinguished by strong third-quarter figures, but convincing investors to pay a premium for the company as economies in Europe and North America slow could take more time than originally anticipated, Prudential said.
Agnico-Eagle Mines Ltd. (NYSE:AEM - News) was downgraded to neutral from buy at Merrill Lynch, which cited valuation. The broker said Agnico-Eagle is trading close to the upper end of the valuation range within which North American gold producers have historically traded. "Despite this downgrade, we still believe that the company has excellent long-term growth prospects," Merrill Lynch said. "Agnico-Eagle is in the midst of developing four gold projects that should convert the company into a multi-mine operator allowing the company to more than triple gold output."
American Ecology (NASDAQ:ECOL - News) said it sees 2007 earnings of 92 to $1.02 per share. The waste-services company also backed its view for 2006 earnings of 85 to 90 cents per share.
Biopure Corp. (NASDAQ:BPUR - News) agreed to sell 25 million new shares of common stock and warrants to acquire an additional 25 million new shares to underwriters. The price for one share and one warrant is 64 cents, the company said. The exercise price of each warrant is 80 cents. The transaction is expected to close on Dec. 13, resulting in net proceeds to Biopure of $14.4 million, assuming no warrant is exercised.
Central Garden (NASDAQ:CENT - News) said fourth-quarter net earnings fell to $6.02 million, or 25 cents a share, from $6.72 million, or 31 cents a share, in the same period last year, as expenses and income taxes rose. Excluding $9 million in increased brand building and strategic work, the Walnut Creek, Calif.-based producer and marketer of garden and pet supplies posted per-share earnings of 49 cents.
Chesapeake Energy Corp. (NYSE:CHK - News) is launching a public offering of 30 million shares of its common stock. The Oklahoma City-based natural gas producer said it has granted the underwriter, Deutsche Bank Securities, a 30-day option to buy up to 4.5 million additional shares to cover any over-allotments.
Consolidated Water Co. (NASDAQ:CWCO - News), which builds and operates seawater desalination plants, said it has priced a public offering of 1.5 million shares at $24.90 a share. The company said it expects the offering to generate net proceeds of $34.9 million. It added it expects to use the proceeds to repay existing debt as well as possible future acquisitions and investments.
Countrywide Financial (NYSE:CFC - News) shares slumped after Stifel Nicolaus downgraded shares of the mortgage giant to hold from buy. "Recent developments in the mortgage industry have significantly increased the risks in the sector," Stifel Nicolaus said in a note to clients. Analysts cited severe credit deterioration, decreased secondary market appetite and tightening underwriting standards. "We expect trends to worsen given our belief that housing has yet to bottom or even fully impact credit trends," analyst Chris Brendler said.
Shares of Duckwall-ALCO Stores Inc. (NASDAQ:DUCK - News) dropped after the Abilene, Kansas-based general merchandise retailer posted a wider loss for the third quarter. For the three months ended Oct. 29, the company lost $648,000, or 18 cents a share, compared to an equivalent year-ago loss of $187,000, or 5 cents a share. Sales from continuing operations rose 9.3% in the latest quarter to $110.1 million from $100.7 million in the same period a year earlier. Duckwall-ALCO said its gross margin declined in the quarter to 31.2% due to higher freight costs, lower margins on higher sales at its fuel centers, and higher than expected degree of seasonal markdowns for its horticulture and patio merchandise products.
Genta (NASDAQ:GNTA - News) shares dropped after the Berkeley Heights, N.J.-based biopharmaceutical company said a Phase III trial of chemotherapy with or without Genasense, conducted in older, previously untreated patients with acute myelogenous leukemia, failed to meet its primary endpoint of overall survival.
GTx Inc. (NASDAQ:GTXI - News) said a Phase II trial of its ostarine selective androgen receptor modulator met its primary endpoint of increasing lean body mass and a secondary endpoint of improving functional performance. Ostarine continued to demonstrate a favorable safety profile, with no serious adverse events reported, it added. GTx plans to initiate a Phase IIb ostarine clinical trial for cancer cachexia in the summer of 2007. GTx also intends to evaluate the ability of ostarine to treat chronic disease indications including end stage renal disease muscle wasting, frailty and osteoporosis. GTx has reacquired full rights to develop and commercialize andarine and all backup compounds previously licensed to Johnson & Johnson unit Ortho Biotech Products on a mutual agreement to terminate the deal
New Century Financial Corp. (NYSE:NEW - News) said its total mortgage loan production was $4.5 billion, a drop of 11.8% from the equivalent year-ago period. On a sequential basis, November's production slid 10% from October levels. "The decline in our loan production volume in November was in line with our expectations, particularly in light of overall mortgage market declines this quarter," said Brad Morrice, the company's president and CEO, in a statement.
PG&E Corp. (NYSE:PCG - News) was downgraded to neutral from overweight at J.P. Morgan, citing valuation.
Shares of Questcor Pharmaceuticals (AMEX:QSC - News) shares fell after the company said it's received definitive commitments from unaffiliated institutional investors to purchase 10.51 million shares of its common for $1.20 each. In addition, the Union City, Calif.-based Questcor said certain insiders have committed to purchasing 890,000 shares at $1.45 each.
Smith & Wesson Holding Corp. (NASDAQ:SWHC - News) reported second-quarter net earnings of $2.85 million, or 7 cents a share, compared with $692,377, or 2 cents a share, in the same period last year, on the back of strong firearms sales.
Shares of Sprint Nextel (NYSE:S - News) fell as Morgan Stanley analyst Simon Flannery said the company was at a "crossroads," with results falling below expectations set at the time of the Sprint-Nextel merger. "We see significant downside for the stock if management is not successful in stabilizing the business in the near term," Flannery said in a note to clients. He reiterated his underweight rating on the stock, and revised his price target from $18 at the end of 2006 to $19 at the end of 2007. "Recent comments by management appear to suggest that rising handset subsidies, tightened credit standards and increasing pre-paid competition will pressure fourth-quarter and early-2007 results, despite new handset launches and a re-branding campaign," Flannery added.
Unifi Inc. (NYSE:UFI - News) said it now expects its second-quarter earnings before income, taxes, depreciation and amortization to be less than half of its previous forecast of $10 million to $12 million. The company said a September drop in volume has continued.
Witness Systems Inc. (NASDAQ:WITS - News) said a special committee review found mistakes in the measurement dates of stock-option grants, although it did not find evidence of fraud or intentional misrepresentation.
Xilinx (NASDAQ:XLNX - News) said it now sees third-quarter sequential sales falling 2% to 5% due to weaker than anticipated turns business in November, particularly from communications customers. The company had expected a sequential increase of 2% to 5%.
Yum Brands (NYSE:YUM - News) was downgraded to market perform from outperform at Wachovia. The firm cited slowing sales momentum in the U.S. and a potentially significant sales impact related to the recent E. coli outbreak at some of the group's Taco Bell restaurants. Wachovia added Yum's KFC chain is facing tough sales comparisons over the next couple of quarters, though it added it still holds a favorable view on the group's international and Chinese operations.
By Michael Baron

Labels: AEM, BPUR, CENT, CFC, CHK, CWCO, DUCK, ECOL, GNTA, GTXI, Hot Stocks, MMM, NEW, PCG, QSC, S, SWHC, WITS, XLNX, YUM