Jim Cramer Blog

All three major indices soared higher, as comments from a Fed official fueled speculation that the central bank would again slash a key interest rate. The Dow added 331 points on the day to close at 13,289. Meanwhile, the Nasdaq closed up 82 points to end the day at 2,663, and the S&P rose 2.9% for the day to end at 1,469. Light, sweet crude dropped sharply on an inventory report to settle at $90.62 a barrel. Treasury and gold prices both tumbled for the second-straight day, while the dollar gained against the euro but dipped versus the yen.
In economic news, the Commerce Department announced that orders for durable goods, like computers and refrigerators, fell -0.4% versus a revised drop of -1.4% in September. Analysts had expected durable good order to be unchanged. The drop has raised concerns about whether the dismal housing market is starting to creep into other areas of the economy. Elsewhere, Federal Reserve Vice Chairman Donald Kohn warned that continued market turmoil could halt economic growth, which Wall Street took as a sign that the Fed Reserve may once again look to cut interest rates in December.
On the earnings front, discount retailer Dollar Tree (Nasdaq: DLTR - News) posted an 11% increase in third-quarter profit helped by strong seasonal sales. For the quarter, the company reported net income of $35.9 million, or 38 cents per share, up from $32.5 million, or 32 cents per share, last year. Revenue in the quarter climbed to $997.8 million, up 10% from $910.4 million a year ago. On average, analysts were calling for earnings of 37 cents per share on $1.05 billion in revenue. Shares of Dollar Tree closed off -1.2% in trading.
Late yesterday, Pep Boys (NYSE: PBY - News) posted a wider third-quarter loss and announced that it cut 550 jobs and closed 31 of its stores as part of a restructuring plan. For the quarter, the company reported a loss of -$21.7 million, or -42 cents per share, versus a loss of -$10.7 million, or -20 cents per share, a year earlier. Quarterly revenue dropped to $534.4 million, down -3% from $550.8 million in 2006. Analysts were looking for revenue of $538.9 million. Pep Boy's stock was down -16.2% at the bell.
In other corporate news, shares of Freddie Mac (NYSE: FRE - News) soared 14.3% despite announcing that it will halve its dividend and that it plans to sell $6 billion in preferred stock. The government-backed lender said the steps were being taken in order to boost finances in anticipation of future losses.
Bear Stearns (NYSE: BSC - News), meanwhile, announced today that it would cut 650 jobs, as the company continues to battle the effects of mortgage-related losses. The head-count reduction marks the third round of layoffs by the nation's fifth-largest investment bank. Shares of Bear Stearns traded up 4.3% for the day.
After yesterday's close, Wells Fargo (NYSE: WFC - News) said that it would report a -$1.4 billion loss in the coming fourth quarter stemming from home equity loans. The bank said it expects the charge to "adequately cover all losses inherent in its portfolios." Wells Fargo also announced it would look to liquidate the riskiest of its $11.9 billion in home equity loans. The stock climbed 3.0% during the session.
By the BullMarket.com Staff

Labels: BSC, DLTR, FRE, PBY, WFC

Here are 7 stocks for traders for Wednesday from TradingMarkets.com:
Dress Barn (NasdaqGS:DBRN - News) missed earnings on Tuesday afternoon, announcing $0.30 EPS versus expectations of $0.32 EPS. DBRN's PowerRating (for Traders) is 4.
Verigy (NasdaqGS:VRGY - News) beat earnings estimates, with $0.58 EPS over $0.50 EPS. VRGY's PowerRating (for Traders) is 3.
Aeropostale (NYSE:ARO - News) reports earnings on Wednesday before the market opens, with traders looking for $0.47 EPS. ARO's PowerRating (for Traders) is 4.
When Brown Shoe (NYSE:BWS - News) announces quarterly results tomorrow morning, analysts will be watching for $0.64 EPS. BWS's PowerRating (for Traders) is 4.
Dollar Tree (NasdaqGS:DLTR - News) should announce $0.37 EPS on Wednesday morning. DLTR's PowerRating (for Traders) is 5.
Coldwater Creek (NasdaqGS:CWTR - News) is expected to announce -$0.11 EPS on Wednesday after the market closes. CWTR's PowerRating (for Traders) is 5.
When Jo-Ann Stores (NYSE:JAS - News) reports quarterly earnings tomorrow afternoon, traders will be watching for $0.28 EPS. JAS's PowerRating (for Traders) is 3.

Labels: ARO, BWS, CWTR, DBRN, DLTR, Hot Stocks, JAS, VRGY

Here are 7 stocks for traders for Wednesday from TradingMarkets.com:
Micros Systems (NasdaqGS:MCRS - News) beat earnings on Wednesday after the close, announcing $0.75 EPS over an expected $0.70 EPS. MCRS's PowerRating (for Traders) is 5.

Big Lots (NYSE:BIG - News) reports earnings on Wednesday before the bell; watch for $0.12 EPS. BIG's PowerRating (for Traders) is 5.
Brown Shoe (NYSE:BWS - News) is looking to announce $0.25 EPS before the market opens on Wednesday. BWS's PowerRating (for Traders) is 5.
Dollar Tree (NasdaqGS:DLTR - News) should report $0.33 EPS on Wednesday morning. DLTR's PowerRating (for Traders) is 5.
When Energy Conversion (NasdaqGS:ENER - News) announces quarterly earnings on Wednesday before the bell, be watching for -$0.11 EPS. ENER's PowerRating (for Traders) is 5.
Joy Global (NasdaqGS:JOYG - News) and Williams-Sonoma (NYSE:WSM - News) both report earnings on Wednesday morning; watch for $0.69 EPS from JOYG and $0.16 EPS from WSM. JOYG's PowerRating (for Traders) is 4, and WSM's PowerRating (for Traders) is 4.
PowerRatings (for Traders) are courtesy of TradingMarkets.com

Labels: BIG, BWS, DLTR, ENER, Hot Stocks, JOYG, MCRS, WSM

Fun and GameStop (NYSE: GME - News)
Ahead of "the biggest video game event of the year," the September release of Halo 3, the flagship enterprise of Microsoft's Xbox video game system, Cramer would buy GME rather than Microsoft, since he thinks Halo 3's success will barely move MSFT's needle. GME is up 33% since Cramer recommended it in March. Cramer thinks of video games as a staple comparable to consumer goods, since they will always be bought in lean times, but cautioned viewers to buy GME only on weakness after Thursday's conference call, and advised against making the trade if the company misses estimates of between 9 cents and 13 cents. He would sell GME after Halo 3's release.

Penny Pinching: Dollar Tree (NasdaqGS: DLTR - News), Dollar General and Family Dollar (NYSE: FDO - News)
Although there is room for confidence that stocks will rise, the consumer is likely to cut down on spending by shopping at low-end stores. Cramer calls DLTR best-of-breed of inferior goods, since it has increased traffic for the sixth consecutive quarter, is accepting food stamps and debit cards and is increasing profits by selling merchandise that costs more than a dollar. In addition, DLTR should outperform rival Dollar General, which was recently taken private and is closing stores and FDO, which has double the stores of DLTR and may be facing saturation. Cramer would wait five days before buying DLTR, which has a sales growth of 4%.
CEO Interview: David Snow, Medco Health Solutions (NYSE: MHS - News)
David Snow reported $60 billion worth of brand drugs are "going generic between now and 2012," which means greater sales volume. The largest mail-order pharmaceutical distributor is averaging 6% growth yearly and is looking ahead with a "straight line of sight." Cramer would buy MHS on any decline.
Published By SeekingAlpha

Labels: DLTR, FDO, GME, Jim Cramer, Mad Money, MHS

Apple Inc. (NasdaqGS:AAPL - News) Chief Operating Officer Tim Cook reiterated that the company remains on track to release its iPhone mobile-phone product in June, and that Apple expects to sell 10 million of the devices in 2008.
Audible Inc. (NasdaqGM:ADBL - News) reported a fourth-quarter net loss of $700,000, or 3 cents a share, compared with a net loss of $2.18 million, or 9 cents a share, in the year-ago period. Revenue at the Newark, N.J.-based provider of Internet audio content rose to $23.3 million in the latest quarter from $18.3 million a year ago. The stock was upgraded to buy from hold at Jefferies & Co.
BEA Systems (NasdaqGS:BEAS - News) was upgraded to peer perform from underperform at Bear Stearns.
CDC Corp. (NasdaqGM:CHINA - News) lifted its financial outlook for 2007, saying it now expects adjusted net income of $57 million to $62 million, above its prior forecast of $55 million to $60 million. The company expects revenue of $415 million to $420 million for the year, a boost from its previous estimate of $401 million to $411 million.
Ciena (NasdaqGS:CIEN - News) was upgraded to overweight from neutral by J.P. Morgan, as the broker said the recovery in the optical market is greater than it first expected.
Deckers Outdoor Corp.'s (NasdaqGS:DECK - News) preliminary fourth-quarter results indicate net income nearly doubled to $23.5 million, or $1.82 a share, from $12.1 million, or 94 cents a share, a year earlier. The Goleta, Calif., maker of outdoor footwear and apparel said net sales increased 37% to $124.4 million from $91 million a year ago.
Dollar Thrifty Automotive Group (NYSE:DTG - News) reported a fourth-quarter loss of $2.7 million, or 11 cents a share, down from a year-ago profit of $8.2 million, or 31 cents a share. The latest results include 10 cents a share in transition costs related to the outsourcing of information technology services and a charge of 5 cents a share from a decrease in the fair value of derivatives, while last year's performance reflects a gain of 11 cents a share from an increase in the fair value of derivatives. Revenue rose 11.5% in the three months ended Dec. 31 to $392.8 million from $352.4 million in the same period a year earlier. The average estimate of analysts polled by Thomson Financial was for a loss of a penny per share in the December period. The company said the latest results reflect a very strong pricing environment, as well as significantly higher vehicle depreciation and interest costs compared to last year. Looking ahead, the Tulsa, Okla., car rental company sees earnings of $2.50 to $2.90 a share in 2007. Wall Street's current consensus estimate is for a profit of $2.62 a share for the year.
Dollar Tree Stores Inc.'s (NasdaqGS:DLTR - News) fiscal fourth-quarter net income rose to $97.6 million, or 96 cents a share, from $86.5 million, or 81 cents a share, a year ago. A Thomson Financial survey of analysts, on average, predicted earnings of 94 cents a share for the quarter. Analysts' estimates usually exclude items. The Chesapeake, Va., discount retailer's net sales for the quarter ended Feb. 3 rose 22% to $1.32 billion from $1.08 billion a year ago, boosted by an extra sales week in the current quarter. The company expects first-quarter earnings of 32 cents to 35 cents a share on sales of $935 million to $955 million.
Dycom Industries Inc. (NYSE:DY - News) shares rose after the Palm Beach Gardens, Fla.-based engineering and construction services provider reported fiscal second-quarter net earnings of $5.59 million, or 14 cents a share, up from $3.87 million, or 10 cents a share, in the year-ago period. Revenue rose to $258.3 million from $237.1 million. Analysts polled by Thomson Financial were expecting a per-share profit of 13 cents on revenue of $253.4 million. Dycom forecast fiscal third-quarter earnings from continuing operations of 23 cents to 28 cents a share on revenue of $275 million to $295 million. Analysts are looking for a per-share profit of 24 cents on revenue of $275 million.
Goodyear Tire & Rubber Co. (NYSE:GT - News) plans to record a charge of $65 million in the first quarter of 2007 for changes to its benefit and pension plans. The Akron, Ohio-based tire maker said, among other changes, current and future salaried retirees will contribute more toward the cost of their medical benefits and that the company would freeze its defined benefit pension plan for current salaried employees, replacing it with 401(k) retirement accounts. The changes will be phased in over a two-year period, and Goodyear expects savings of $80 million to $90 million in 2007, $100 million to $110 million in 2008, and $80 million to $90 million in 2009 and beyond.
Hospira (NYSE:HSP - News) reported a nearly 80% jump in fourth quarter profit Wednesday on higher product volumes, higher prices and favorable currency exchange. The company earned $47.4 million, or 30 cents a share, on the period - up from $26.6 million, or 16 cents. On an adjusted basis, Hospira said it would have earned 43 cents a share, vs. 32 cents in the last three months of 2005. Revenue came in at $706.5 million, a gain of 9.3%. The average estimate of analysts polled by Thomson Financial was for Hospira to earn 38 cents a share on $674 million in revenue.
Kenneth Cole Productions Inc. (NYSE:KCP - News) reported fourth-quarter net earnings of $7.99 million, or 39 cents a share, up 6.9% from $7.48 million, or 37 cents a share, in the year-ago period. Revenue in the quarter ended Dec. 31 rose to $122.4 million from $119.8 million.
King Pharmaceuticals (NYSE:KG - News) reported fourth-quarter earnings of $37 million, or 15 cents a share, up from a year-ago loss of $95 million, or 39 cents a share. Excluding items, such as charges from asset impairment and an arbitration settlement, the company earned $98.8 million, or 41 cents a share, in the latest quarter. Revenue rose in the three months ended Dec. 31 to $512.9 million from $423.3 million in the same period a year earlier. The average estimate of analysts polled by Thomson Financial was for a profit of 37 cents a share in the December period on revenue of $480.6 million.
Komag (NasdaqGS:KOMG - News) shares rose after American Technology Research analyst Shaw Wu lifted his rating on the hard-disk maker's stock to neutral from sell. Wu said Komag is benefitting from more sales to its largest customer, Seagate Technology , which accounts for 37% of Komag's revenue. However, Wu warned that Komag faces other fundamental challenges as it deals with rising costs and competition involving a shift to newer disk-recording technologies.
L-3 Communications (NYSE:LLL - News) was upgraded to neutral from underweight by J.P. Morgan, with the brokerage saying the stock should have limited downside given its high free cash flow yield. "We believe 2007 could be a more challenging year for defense stocks, and given L-3's more modest valuation, we no longer expect it to underperform the group," the broker said.
Leap Wireless International (NasdaqGS:LEAP - News) shares advanced after the San Diego-based provider of wireless communications services reported a fourth-quarter net loss of $39.4 million, or 60 cents a share. In the same quarter last year, the company posted a net profit of $4.95 million, or 8 cents a share. Revenue rose to $315.5 million from $228.9 million. Analysts polled by Thomson Financial were expecting a per-share loss of 35 cents on revenue of $316 million. Leap said it added 262,000 net new customers in the fourth quarter, and expects to add 260,000 to 320,000 net new customers in the first quarter.
Martha Stewart Living Omnimedia (NYSE:MSO - News) said fourth-quarter net income jumped to $16.2 million, or 31 cents a share, from $2.9 million, or 6 cents a share in the year-ago period. Total revenue rose to $97 million from $84.6 million. Analysts, on average, expected it to earn 25 cents a share on revenue of $95 million, according to Thomson Financial. For 2007, the company is expecting revenue in the range of $330 million to $340 million, operating income in the range of $5.5 million to $8.5 million and adjusted EBITDA in the range of $32 million to $35 million, including an investment of $8 million in "Blueprint" magazine.
Medical Action Industries (NasdaqGS:MDCI - News) was upgraded to buy from neutral at Sidoti & Co.
Merck & Co. (NYSE:MRK - News) said it expects its first-quarter profit will be 63 to 67 cents a share, excluding restructuring charges related to site closures and position eliminations, and targets reported first-quarter earnings per share of 58 cents to 64 cents. Whitehouse Station, N.J.-based Merck cited early revenue trends across Merck's range of products. The company also raised its anticipated 2007 earnings forecast range to $2.55 to $2.65 a share, excluding items related to site closures and position eliminations, and its full-year 2007 reported earnings range to $2.40 to $2.55 a share. Analysts, on average, expect it to earn 60 cents a share for the first quarter and $2.62 a share for the year, according to Thomson Financial. Merck said its forecasts do not reflect the establishment of any reserves for any potential liability relating to the Vioxx litigation.
Midwest Air Group Inc. (AMEX:MEH - News) , citing its own growth forecasts, urged its shareholders again Wednesday to reject a takeover offer from AirTran Holdings Inc. "AirTran's low-cost carrier business model is in trouble. By virtually any metric, AirTran's business is deteriorating," according to a letter Midwest sent to its shareholders.
Published By MarketWatch

Labels: AAPL, ADBL, BEAS, CHINA, CIEN, DECK, DLTR, DTG, DY, GT, HSP, KCP, KG, KOMG, LEAP, LLL, MDCI, MEH, MRK, MSO

Abercrombie & Fitch (NYSE:ANF - News) said its January sales at stores open at least one year fell 6%. Analysts, on average, had expected it to post a same-store-sales drop of 1.9%, according to Thomson Financial. Net sales for the five weeks ended Feb. 3 rose 37% to $252.3 million. The New Albany, Ohio, clothing retailer said sales in its fiscal 2006 rose 19% to $3.32 billion from $2.79 billion.
Accuray (NasdaqGM:ARAY - News) shares rocketed up in company's initial public offering.
Alcon Inc. (NYSE:ACL - News) reported fourth-quarter net earnings of $354.7 million, or $1.16 a share, compared with $60.7 million, or 19 cents a share, during the same quarter a year ago. Results from the year-ago period included $207.7 million in after-tax charges, or 66 cents a share.
Akamai Technologies Inc. (NasdaqGS:AKAM - News) said fourth-quarter net income fell, as costs and expenses rose, to $20.6 million or 12 cents a share, from $25.8 million, or 16 cents a share, during the same period in the prior year. Before items, quarterly per-share income rose to 27 cents from 16 cents in the prior year.
Alkermes Inc. (NasdaqGS:ALKS - News) reported that net income for its fiscal third-quarter rose to $2.9 million, or 3 cents a share, from $1.4 million, or 1 cent a share, for the same quarter last year. Excluding items, Alkermes would have reported adjusted earnings of 11 cents a share.
AnnTaylor Stores (NYSE:ANN - News) said its January same-store sales fell 10.2% from a year earlier, assuming both periods include four weeks. The fashion-apparel retailer said Thursday net sales increased 21% to $149.9 million for the five weeks ended Feb. 3 from $123.9 million for the comparable four-week period a year ago. Same-store sales calculation for the latest January tracks performance for the four weeks ended Jan. 27 and its net sales calculation tracks results for the five weeks ended Feb. 3. Year-earlier results were for the four weeks ended Jan. 28. For fiscal 2006, AnnTaylor expects earnings of $1.95 a share to $1.98 a share.
Aspreva Pharmaceuticals Corp. (NasdaqGS:ASPV - News) shares rose after the Victoria, British Columbia-based company late Wednesday reported fourth-quarter net earnings of $26 million, or 73 cents a share, up from $24.3 million, or 68 cents a share, in the year-ago period. Revenue rose to $52.5 million from $45 million. Analysts polled by Thomson Financial were expecting a per-share profit of 66 cents. Aspreva forecast 2007 royalty revenue of more than $245 million.
Beckman Coulter (NYSE:BEC - News) reported fourth-quarter net income of $62.3 million, or 97 cents a share. Excluding one-time items, the company would have earned $1.03 a share compared to 73 cents a share a year ago. Revenue rose 8.6% to $712 million. The company said it sees 2007 adjusted earnings in the range of $3.10 to $3.25 a share. It expects revenue to increase by 7% to 9%.
BG Group (NYSE:BRG - News) said fourth-quarter profit dropped 18% to 410 million pounds, with revenue down 10% to 1.9 billion pounds. Though production rose 5% and it saw "strong" growth in the liquified natural gas business, lower gas prices, a weaker U.S. dollar and an increased North Sea tax rate. The company affirmed its earnings outlook to 2009, sees exploration and production volume growth of 5% to 7% a year to 2009, and is "more confident" of achieving higher levels of its 6%-to-10% volume growth view to 2012.
Bon-Ton Stores Inc. (NasdaqGS:BONT - News) said January same-store sales rose 6.4%. Total sales for the five weeks ended Feb. 3 increased 283%, to $240.6 million. Analysts surveyed by Thomson Financial forecast a same-store sales rise of 0.5%.
BorgWarner (NYSE:BWA - News) said its fourth-quarter earnings fell 37%, due in part to restructuring charges related to asset impairments in North America, supplemental to restructuring activities announced in the third quarter. The Auburn Hills, Mich. maker of automotive power train products had fourth-quarter earnings of $40.9 million, or 70 cents a share, compared with $64.6 million, or $1.12 a share, a year earlier. Excluding the restructuring charges and other items, the company had earnings of 99 cents a share. BorgWarner said revenue for the quarter ended Dec. 31 rose 15% to $1.2 billion from $1.05 billion a year ago. Analysts surveyed by Thomson Financial expected, on average, earnings of 95 cents a share on revenue of $1.11 billion. Analyst earnings forecasts typically exclude unusual items. In addition, the company said it expects 2007 earnings of $4.70 to $4.90 a share. BorgWarner had earlier forecast 2007 earnings of $4.60 to $4.80 a share. BorgWarner also reiterated its sales guidance, saying it expects sales growth of 7% to 9%.
Bunge (NYSE:BG - News) said its fourth quarter net profit rose 77% to $264 million, or $2.12 a share, from $149 million, or $1.25 a share in the year-earlier period. Net sales rose 14% to $7.68 billion amid signs of a turnaround in the Brazilian business and higher demand for core products related to the bio-fuels industry. The latest results included net gains of $74 million, or 60 cents a share. Analysts polled by Thomson Financial were expecting earnings of $1.44 a share on revenue of $7.44 billion. The company said it expects earnings in 2007 to be in a range of $4.56 to $4.71 a share. Separately Bunge announced that its CFO William Wells will leave the company effective April 1. It added it has begun a search for a replacement.
Circuit City Stores (NYSE:CC - News) said it will close stores and shake up its merchandising team in a move to improve its financial performance.
Citi Trends Inc. (NasdaqGS:CTRN - News) said comparable store sales for the five weeks ended Feb. 3 rose 3.2%. Analysts polled by Thomson Financial had expected growth of 0.2%. The apparel retailer said total January sales increased to $36.2 million from $20.9 million during the same period in the prior year.
Corrections Corp. of America (NYSE:CXW - News) said its fourth-quarter net profit rose 37.6% to $32.2 million, or 52 cents a share, from $23.4 million, or 39 cents a share, a year earlier. Revenue for the quarter ending Dec. 31 rose 10.2% to $349.6 million. Analysts polled by Thomson Financial had been expecting earnings of 44 cents a share on revenue of $343 million. The company said its results were driven by strong demand for prison beds from both federal and state customers. The company said average compensated occupancy for the period rose to 96.6% from 93.1%. The company said it expects earnings in the first quarter to be in the range of 43 cents to 37 cents a share, with earnings for 2007 in the range of $1.95 to $2.05 a share.
Dollar Tree Stores (NasdaqGS:DLTR - News) said fourth-quarter sales rose 22.2% to $1.32 billion, helped by an extra week compared with the year-ago quarter. Analysts, on average, expected the Chesapeake, Va., variety-store chain to post quarterly sales of $1.3 billion. Same-store sales, or sales at stores open at least a year, rose 5.5% for the quarter.
DSW Inc. (NYSE:DSW - News) said fourth-quarter same-store sales rose 1%, with total sales increasing to $329.1 million from $283.8 million. Analysts surveyed by Thomson Financial forecast revenue of $315.2 million, on average.
Electronic Data Systems Corp. (NYSE:EDS - News) said fourth-quarter profit nearly doubled, while revenue grew 11%. Computer services giant EDS said its net income for the quarter ended Dec. 31 rose to $217 million, or 40 cents a share, from $112 million, or 21 cents, a year earlier.
Exide Technologies (NasdaqGM:XIDE - News) reported adjusted EBITDA of $54.1 million for the third quarter, up 32% from last year's equivalent total of $41.1 million.
Express Scripts Inc. (NasdaqGS:ESRX - News) said increased generic drug use and lower costs resulted in a 32% surge in fourth-quarter profit and prompted the pharmacy benefits manager to boost its outlook for the full-year period.
Published By Michael Baron

Labels: ACL, AKAM, ALKS, ANF, ANN, ARAY, ASPV, BEC, BG, BONT, BRG, BWA, CC, CTRN, CXW, DLTR, DSW, EDS, ESRX, XIDE

Atricure (NASDAQ:ATRC - News) shares rose 6.3% Friday after the company was initiated with a buy rating at Pacific Growth Equities.
Datatrack (NASDAQ:DATA - News) shares jumped 23.3% after the company said it received contracts worth a total of $4.7 million in December.
Dollar Tree Stores Inc. (NASDAQ:DLTR - News) shares rose 4.5% after the company said its fourth-quarter sales are trending towards the upper end of its previous forecast of $1.28 billion to $1.31 billion.
Learning Tree International (NASDAQ:LTRE - News) shares climbed 9.3% after the Reston, Va.-based provider of education and training services said late Thursday it expects to report fourth-quarter income from operations of $200,000 on revenue of $38.7 million. For the fiscal year ended Sept. 29, the company forecast a loss from operations of $1.9 million on revenue of $154 million.
Network Equipment Technologies' (NYSE:NWK - News) shares added 7.7% after the Fremont, Calif.-based telecommunications equipment maker forecast fiscal third-quarter revenue of $21.6 million to $22.1 million. The company also said it now expects fiscal 2007 revenue growth of 17% to 20%, up from its previous forecast of 10%.
Protective Life Corp. (NYSE:PL - News) shares gained 4.9% after the company was upgraded to buy from neutral at UBS. The firm also lifted its price target on the stock to $57 from $53.
Saba Software Inc. (NASDAQ:SABA - News) shares moved up 11.3% after the company reported a second-quarter net loss of $1.01 million, or 4 cents a share. During the same period a year ago, the Redwood Shores, Calif.-based company posted net earnings of $131,000, or a penny a share. Pro forma earnings were $2 million, or 7 cents a share, compared with $694,000, or 4 cents a share, a year ago. Saba reported revenue of $26.2 million vs. $16.2 million. Analysts polled by Thomson First Call had forecast second-quarter earnings of 6 cents a share on revenue of $25 million. Additionally, Saba said it expects third-quarter per-share results to range from breakeven to a profit of 3 cents on revenue of $26.5 million to $27.5 million. On a pro forma basis, the company said it sees earnings of 7 cents to 10 cents a share for the quarter.
Tim Hortons (NYSE:THI - News) shares added 6.8% after the donut chain said its same-store sales rose 9.3% in the fourth quarter for restaurants located in Canada and 8.3% for U.S. locations. For December, the company said same-store sales increased 10.9% to 11% in Canada and 9.5% in the U.S.
Published By MarketWatch

Labels: ARTC, DATA, DLTR, LTRE, NWK, PL, SABA, THI