Jim Cramer Blog

LCA-Vision Inc. (NasdaqGS:LCAV - News) reported fourth-quarter earnings of $7.1 million, or 34 cents a share, up from a year-ago profit of $6.6 million, or 30 cents a share. Revenue jumped 26% in the latest three months to $58.8 million from $46.8 million a year ago. The Cincinnati-based provider of laser vision correction services also said it's increased its quarterly dividend by 50% to 18 cents a share from 12 cents. Looking ahead, LCA-Vision forecast earnings of $2.05 to $2.15 a share for 2007 on revenue growth of 20% to 25%.
Lions Gate (NYSE:LGF - News) reported third-quarter net earnings of $20.5 million, or 17 cents a share, compared with $3.14 million, or 3 cents a share, in the same period last year, driven by revenue from the company's "Saw III" and "Employee of the Month" films.
Loews Corp. (NYSE:LTR - News) reported consolidated net income of $746.5 million, or $1.11 a share, for the fourth quarter, up from a year-ago equivalent profit of $127.6 million, or 8 cents a share. This performance includes contributions from both Loews Group and Carolina Group, whose net income rose to $137.1 million, or $1.26 per Carolina Group share, in the quarter, from $81.6 million, or $1.11 a share, a year earlier. On a continuing operations basis, Loews earned $633.4 million, or $1.15 per share, in the latest quarter. Loews attributed its higher earnings to improved results at CNA Financial , its 89%-owned subsidiary, and Diamond Offshore Drilling , its 54%-owned subsidiary.
Municipal Mortgage & Equity LLC (NYSE:MMA - News) said it knows of no reason why recent trading in the stock has resulted in a decrease in price. Since Monday, shares of the real estate debt and equity financing concern have dropped almost 15%. MuniMae management noted that it is not engaged in sub-prime or any other single family mortgage lending activities, and that its outlook for the multifamily rental sector is positive.
Novelis was in focus after the company agreed to be acquired by Hindalco Industries Ltd. in a deal worth $6 billion, including debt assumption. The consideration values Novelis at $44.93 a share.
OmniVision (NasdaqGS:OVTI - News) unveiled a 5.17 megapixel auto-focus camera module for mobile handsets based on its OV5623 CameraChip sensor. The company also unveiled its TrueFocus camera with Wavefront Coding technology for the mobile handset market.
Onyx Pharmaceuticals (NasdaqGM:ONXX - News) soared after the company and Bayer (NYSE:BAY - News) said a Phase 3 trial of Nexavar to treat advanced liver cancer was closed early due to a positive outcome. Bayer and Onyx will stop the trial and allow all patients enrolled in this trial access to Nexavar. Given that there are limited approved systemic therapies for this disease, the companies will continue discussions with health authorities worldwide, including the U.S. Food and Drug Administration and European health authorities regarding the next steps in filing for approval for the treatment in advanced liver cancer. Nexavar is currently approved in nearly 50 countries, including the United States and in the European Union, for the treatment of patients with advanced kidney cancer.
Shares of Panera Bread Co. (NasdaqGS:PNRA - News) edged higher after Raymond James upgraded the bakery-café chain to strong buy from outperform, citing valuation. The company reported Friday fourth-quarter earnings that rose over year-earlier levels but fell shy of expectations, according to Thomson Financial, and provided an outlook that was slightly below forecasts. Analyst Bryan Elliott noted that the stock traded up most of the day before turning lower at the close. "We believe that that this reflects intermediate and longer-term capital that has been on the sideline waiting for 2007 guidance to be released," Elliott said in a research note. "We believe there is sufficient interest from this class of investor to keep Panera Bread under accumulation for at least the next several months."
R.H. Donnelly (NYSE:RHD - News) was upgraded to overweight from neutral at J.P. Morgan.
Smithfield Foods (NYSE:SFD - News) was upgraded to outperform from market perform at Wachovia Securities. The firm cited expectations about the benefits of recent acquisitions.
Southwest Airlines (NYSE:LUV - News) was upgraded to outperform at Bear Stearns.
Triple Crown Media Inc. (NasdaqGM:TCMI - News) said it swung to a fiscal second-quarter net profit of $418,000, or 8 cents a share. The company, which owns and operates local newspapers and runs a collegiate marketing business offering sports marketing services, reported a loss of $802,000 or 16 cents a share in the year-earlier quarter. Revenue for the quarter jumped to $48.1 million from $12.3 million, driven by the acquisition of the marketing business from Bull Run Corp.
Vodafone Group (NYSE:VOD - News) agreed to acquire Hutchison Telecom's (NYSE:HTX - News) 67% stake in Indian mobile operator Hutchison Essar for $11.1 billion and the assumption of $2 billion in debt.
WCI Communities (NYSE:WCI - News) said it's retained Goldman Sachs to assist it in identifying ways to increase shareholder value. The Bonita Springs, Fla. homebuilder said that it expects to generate $1 billion in free cash flow in 2007, and will look at asset sales to help reduce debt. Once the balance sheet is improved, the company will review strategic alternatives, including possible share repurchases are a sale of the company.
Witness Systems' (NasdaqGS:WITS - News) shares rallied after the company agreed to be acquired by Verint Systems (Other OTC:VRNT.PK - News), a unit of Comverse Technology (Other OTC:CMVT.PK - News), for $27.50 a share, or roughly $950 million.
Zoltek Cos. (NasdaqGM:ZOLT - News) shares rose after the St. Louis-based materials reported a fiscal first-quarter net loss of $5.66 million, or 23 cents a share. The quarter included a charge of $8.4 million related to convertible debt and warrant issuances. In the same quarter last year, the company posted net earnings of $6.29 million, or 3 cents a share. Revenue rose to $30.3 million from $15.6 million.
Published By Michael Baron of MarketWatch

Labels: BAY, CMVT, HTX, LCAV, LGF, LTR, LUV, MMA, ONXX, OVTI, PNRA, RHD, SFD, TCMI, VOD, VRNT, WCI, WITS, ZOLT

Amtech Systems Inc. (NASDAQ:ASYS - News) said that it is planning to offer $15 million of its stock in a public offering. The offer proceeds will be used for working capital and general corporate purposes.
Applica Inc. (NYSE:APN - News) shares rose after Nacco Industries Inc. (NYSE:NC - News) said it has increased its tender offer price for Applica to $7 from $6.50 a share. In October, Applica, a Miramar, Fla.-based home appliance maker, agreed to be acquired by affiliates of Harbinger for $6.50 a share.
Bally Technologies said that it sold around 9,000 gaming devices in the first half of fiscal 2007, up from 6,500 at the same point a year ago. Gross margins are expected to improve in 2007 compared to fiscal 2006. Richard Haddrill, chief executive officer of the technology solutions company, said: "In the first half of our fiscal 2007, we are beginning to see the benefits of our efforts." The company also said that it has filed its form Form 10-Qs for the quarters ended September 30 and December 31, 2005. It expects to file its Form 10-Q for the quarter ended March 31, 2006 and for the year ended June 30, 2006 before March 15, 2007. It anticipates reporting a net loss per share of between 66 cents and 76 cents for the year to June 30, 2006.
Cabot Corp. (NYSE:CBT - News) shares rose after the chemical company was upgraded to neutral from underweight by J.P. Morgan, which cited improving earnings growth as raw materials costs fall. J.P. Morgan said it expects net gains due to falling raw materials costs and selling price increases to be around $26 million, or 27 cents a share in the first quarter of fiscal 2007.
Cheniere Energy Inc. (AMEX:LNG - News) shares rose after its subsidiary Cheniere Energy Partners L.P. filed with the Securities and Exchange Commission to raise up to $301.9 million in its initial public offering.
El Paso Corp. (NYSE:EP - News) said it sold ANR Pipeline Co., its Michigan storage assets and its 50% interest in Great Lakes Gas Transmission to TransCanada Corporation and TC PipeLines LP for $4.14 billion, including $744 million of debt. El Paso said the deal would be neutral to slightly positive for earnings and would result in after-tax proceeds of $3.3 billion.
Exelixis Inc. (NASDAQ:EXEL - News) said that it has initiated a Phase II clinical trial of its XL880 drug in patients with gastric cancer. As previously announced, a Phase II trial of XL880 in patients with papillary renal cell carcinoma was initiated in June 2006. XL880 is an orally bioavailable small molecule inhibitor.
Hutchison Telecom International (NYSE:HTX - News) said it's received approaches from multiple parties for its 67% stake in Hutchison Essar, an Indian mobile operator. Vodafone Group (NYSE:VOD - News) said it's interested in buying a controlling stake in the Indian operator.
IMS Health (NYSE:RX - News) said it has approved a buyback of up to 10 million shares under a new stock repurchase program.
Memory chip maker Micron Technology (NYSE:MU - News) tripled its profit on 16% sales growth.
Oncolytics Biotech (NASDAQ:ONCY - News) said it has begun patient enrolment in its U.K. Phase II clinical trial to evaluate the anti-tumor effects of Reolysin in combination with low-dose radiation in patients with advanced cancers.
Pinnacle Airlines Corp. (NASDAQ:PNCL - News) shares shot up after it announced a deal to fly for Northwest Airlines Corp. (Other OTC:NWACQ.PK - News) through 2017 and analyst upgrades of hte regional carrier. The Amex Airlines Index gained 0.3% to 57.37 points, with Mesa Air Group climbing on a plan to form a regional airline in China with Shenzen Airlines.
Software maker Red Hat (NYSE:RHT - News) reported a stronger-than-forecast 45% sales growth.
Research In Motion (NASDAQ:RIMM - News) reported a 47% profit rise on 49% sales growth.
Resources Connection Inc. (NASDAQ:RECN - News) reported second-quarter net earnings of $14.7 million, or 29 cents a share, compared with $16 million, or 31 cents a share, in the same period last year. Excluding stock-based compensation expense, among other items, the Costa Mesa, Calif. -based provider of professional services posted per-share earnings of 36 cents. Revenue rose 16% to $182.8 million from $158.1 million. Analysts polled by Thomson First Call had expected per-share earnings of 27 cents, on revenue of $177 million.
SciClone Pharmaceuticals Inc. (NASDAQ:SCLN - News) and Sigma-Tau said that a large phase 2 trial treating patients with stage IV malignant melanoma, showed positive interim survival data. Data from the first four arms of this ongoing five-arm trial showed that the addition of 3.2 mg of ZADAXIN to standard dacarbazine chemotherapy increased the median survival to 10.2 months, the companies said.
Shuffle Master (NASDAQ:SHFL - News) reported fiscal fourth-quarter net earnings of $4.9 million, or 14 cents share, down from $8.2 million and 23 cents a year ago. Revenue rose 39% to $46.1 million. The per-share profit figure includes 7 cents of charges and 3 cents for stock-option expensing; the average estimate of analysts polled by Thomson First Call had been for Shuffle Master to earn 19 cents a share on revenue of $44 million. Shares ended the day down slightly at $26.22 but jumped more than 5% in after-hours action.
Toyota Motor Corp. (NYSE:TM - News) said it expects 2007 world-wide sales will rise 6% to 9.3 million autos. The company expects world-wide sales of its Toyota brand autos to rise 6% to 8.4 million units. Toyota forecast combined overseas sales for its Toyota, Daihatsu and Hino brands will grow 8% to 6.9 million autos, and combined sales in Japan to rise 1% to 2.4 million units.
Walgreen Co. (NYSE:WAG - News) said first-quarter income rose 25% to $432 million, or 43 cents a share, from $346 million, or 34 cents, a year ago. Sales for the three months ended Nov. 30 gained 17% to $12.71 billion from $10.9 billion, while same-store sales, or sales at stores open at least a year, rose 9.7%. Analysts, on average, forecast earnings of 41 cents a share on sales of $12.55 billion.
Wet Seal Inc. (NASDAQ:WTSLA - News) said a secondary offering of 16 million Class A common shares was priced $6 each. The Foothill Ranch, Calif., specialty retailer said the shares are being sold by affiliates of Prentice Capital Management LP, Capital Associates LLC and GMM Capital LLC. The offering's underwriters received an over-allotment option to buy up to 2.4 million shares.
-MarketWatch

Labels: APN, ASYS, CBT, EP, EXEL, HTX, KAR, LNG, MU, NC, PNCL, RHT, RIMM, SCLN, SHFL, TM, VOD, WAG

Amtech Systems Inc. (NASDAQ:ASYS - News) said that it is planning to offer $15 million of its stock in a public offering. The offer proceeds will be used for working capital and general corporate purposes.
Applica Inc. (NYSE:APN - News) shares rose after Nacco Industries Inc. (NYSE:NC - News) said it has increased its tender offer price for Applica to $7 from $6.50 a share. In October, Applica, a Miramar, Fla.-based home appliance maker, agreed to be acquired by affiliates of Harbinger for $6.50 a share.
Bally Technologies said that it sold around 9,000 gaming devices in the first half of fiscal 2007, up from 6,500 at the same point a year ago. Gross margins are expected to improve in 2007 compared to fiscal 2006. Richard Haddrill, chief executive officer of the technology solutions company, said: "In the first half of our fiscal 2007, we are beginning to see the benefits of our efforts." The company also said that it has filed its form Form 10-Qs for the quarters ended September 30 and December 31, 2005. It expects to file its Form 10-Q for the quarter ended March 31, 2006 and for the year ended June 30, 2006 before March 15, 2007. It anticipates reporting a net loss per share of between 66 cents and 76 cents for the year to June 30, 2006.
Cabot Corp. (NYSE:CBT - News) shares rose after the chemical company was upgraded to neutral from underweight by J.P. Morgan, which cited improving earnings growth as raw materials costs fall. J.P. Morgan said it expects net gains due to falling raw materials costs and selling price increases to be around $26 million, or 27 cents a share in the first quarter of fiscal 2007.
Cheniere Energy Inc. (AMEX:LNG - News) shares rose after its subsidiary Cheniere Energy Partners L.P. filed with the Securities and Exchange Commission to raise up to $301.9 million in its initial public offering.
El Paso Corp. (NYSE:EP - News) said it sold ANR Pipeline Co., its Michigan storage assets and its 50% interest in Great Lakes Gas Transmission to TransCanada Corporation and TC PipeLines LP for $4.14 billion, including $744 million of debt. El Paso said the deal would be neutral to slightly positive for earnings and would result in after-tax proceeds of $3.3 billion.
Exelixis Inc. (NASDAQ:EXEL - News) said that it has initiated a Phase II clinical trial of its XL880 drug in patients with gastric cancer. As previously announced, a Phase II trial of XL880 in patients with papillary renal cell carcinoma was initiated in June 2006. XL880 is an orally bioavailable small molecule inhibitor.
Hutchison Telecom International (NYSE:HTX - News) said it's received approaches from multiple parties for its 67% stake in Hutchison Essar, an Indian mobile operator. Vodafone Group (NYSE:VOD - News) said it's interested in buying a controlling stake in the Indian operator.
IMS Health (NYSE:RX - News) said it has approved a buyback of up to 10 million shares under a new stock repurchase program.
Memory chip maker Micron Technology (NYSE:MU - News) tripled its profit on 16% sales growth.
Oncolytics Biotech (NASDAQ:ONCY - News) said it has begun patient enrolment in its U.K. Phase II clinical trial to evaluate the anti-tumor effects of Reolysin in combination with low-dose radiation in patients with advanced cancers.
Pinnacle Airlines Corp. (NASDAQ:PNCL - News) shares shot up after it announced a deal to fly for Northwest Airlines Corp. (Other OTC:NWACQ.PK - News) through 2017 and analyst upgrades of hte regional carrier. The Amex Airlines Index gained 0.3% to 57.37 points, with Mesa Air Group climbing on a plan to form a regional airline in China with Shenzen Airlines.
Software maker Red Hat (NYSE:RHT - News) reported a stronger-than-forecast 45% sales growth.
Research In Motion (NASDAQ:RIMM - News) reported a 47% profit rise on 49% sales growth.
Resources Connection Inc. (NASDAQ:RECN - News) reported second-quarter net earnings of $14.7 million, or 29 cents a share, compared with $16 million, or 31 cents a share, in the same period last year. Excluding stock-based compensation expense, among other items, the Costa Mesa, Calif. -based provider of professional services posted per-share earnings of 36 cents. Revenue rose 16% to $182.8 million from $158.1 million. Analysts polled by Thomson First Call had expected per-share earnings of 27 cents, on revenue of $177 million.
SciClone Pharmaceuticals Inc. (NASDAQ:SCLN - News) and Sigma-Tau said that a large phase 2 trial treating patients with stage IV malignant melanoma, showed positive interim survival data. Data from the first four arms of this ongoing five-arm trial showed that the addition of 3.2 mg of ZADAXIN to standard dacarbazine chemotherapy increased the median survival to 10.2 months, the companies said.
Shuffle Master (NASDAQ:SHFL - News) reported fiscal fourth-quarter net earnings of $4.9 million, or 14 cents share, down from $8.2 million and 23 cents a year ago. Revenue rose 39% to $46.1 million. The per-share profit figure includes 7 cents of charges and 3 cents for stock-option expensing; the average estimate of analysts polled by Thomson First Call had been for Shuffle Master to earn 19 cents a share on revenue of $44 million. Shares ended the day down slightly at $26.22 but jumped more than 5% in after-hours action.
Toyota Motor Corp. (NYSE:TM - News) said it expects 2007 world-wide sales will rise 6% to 9.3 million autos. The company expects world-wide sales of its Toyota brand autos to rise 6% to 8.4 million units. Toyota forecast combined overseas sales for its Toyota, Daihatsu and Hino brands will grow 8% to 6.9 million autos, and combined sales in Japan to rise 1% to 2.4 million units.
Walgreen Co. (NYSE:WAG - News) said first-quarter income rose 25% to $432 million, or 43 cents a share, from $346 million, or 34 cents, a year ago. Sales for the three months ended Nov. 30 gained 17% to $12.71 billion from $10.9 billion, while same-store sales, or sales at stores open at least a year, rose 9.7%. Analysts, on average, forecast earnings of 41 cents a share on sales of $12.55 billion.
Wet Seal Inc. (NASDAQ:WTSLA - News) said a secondary offering of 16 million Class A common shares was priced $6 each. The Foothill Ranch, Calif., specialty retailer said the shares are being sold by affiliates of Prentice Capital Management LP, Capital Associates LLC and GMM Capital LLC. The offering's underwriters received an over-allotment option to buy up to 2.4 million shares.
-MarketWatch

Labels: APN, ASYS, CBT, EP, EXEL, HTX, KAR, LNG, MU, NC, PNCL, RHT, RIMM, SCLN, SHFL, TM, VOD, WAG