Jim Cramer Blog

Motorola Inc., (NYSE:MOT - News) the world's No.2 maker of mobile phones, reported fourth-quarter net income fell 48% to $624 million, or 25 cents a share, from the year-earlier period, when it registered an exceptional gain of $520 million. Earnings from continuing operations slipped to 21 cents from 46 cents. Sales rose 17% to $11.8 billion. Handset shipments surged 47% to 65.7 million units. The average forecast of analysts polled by Thomson First Call was for earnings of 25 cents a share on sales of $11.7 billion.
Pinnacle Financial Partners (NASDAQ:PNFP - News) was upgraded to buy from neutral at SunTrust Robinson Humphrey.
Presstek Inc. (NASDAQ:PRST - News) said it expects fourth-quarter consolidated revenue to exceed $65 million, in line with the company's prior outlook excluding revenue from the Precision Analog operations, which was discontinued in the fourth quarter.
Schlumberger Ltd., (NYSE:SLB - News) the oil-services firm, reported fourth-quarter net income rose 71% to $1.13 billion, or 92 cents a share, as revenue grew 33% to $5.35 billion. Growth was driven by WesternGeco progress and its information solutions arm. It expects "significant" growth in 2007, particularly in the Eastern Hemisphere, the company said. Analysts polled by Thomson First Call expected earnings of 85 cents a share on revenue of $5.14 billion.
UnionBanCal Corp. (NYSE:UB - News) reported fourth-quarter net income of $1.61 a share, compared with $2.09 in the year-earlier period. Revenue rose to $672.7 million from $665.2 million.
Vanda Pharmaceuticals, (NASDAQ:VNDA - News) the Rockville, Md., biopharmaceutical developer focused on candidates for central-nervous-system disorders, plans to offer 3.8 million shares at $27.29 apiece.
Whittier Energy Corp. (NASDAQ:WHIT - News) agreed to be acquired by Sterling Energy Plc for $11 a share, or $145 million. In a statement, Whittier, said that Sterling, a Harpenden, U.K., energy producer, will pay a total of $145 million and assume $43 million of Whittier's net liabilities. Whittier Energy shares closed Thursday at $8.73, indicating that Sterling Energy is paying a 26% premium for the shares. Whittier Ventures LLC, holder of 14.34% of Whittier Energy, has agreed to vote for the deal, Whittier said. Both companies' boards have approved the acquisition; conditioned on regulatory clearances and approval by Whittier's holders, the companies expect to close the transaction in the first quarter.
Xilinx Inc. (NASDAQ:XLNX - News) quarterly profit rose 8% from the year-earlier period. Per-share profit was 26 cents against 23 cents.

Labels: MOT, PNFP, PRST, SLB, UB, VNDA, WHIT, XLNX

California Micro Devices Corp. (NASDAQ:CAMD - News) reported third-quarter net income of $673,000, or 3 cents a share, compared with $2.53 million, or 11 cents a share, in the same period last year, as sales fell and costs rose slightly.
Callaway Golf Co. (NYSE:ELY - News) said it expects preliminary 2006 sales of $1.018 billion, with earnings per share of 33 cents to 35 cents. Excluding charges, the golf products company sees per-share income of 50 cents to 52 cents.
Capital One reported a 39% jump in fourth-quarter net income, but the results, as well as the credit card and banking company's 2007 forecast, fell short of Wall Street expectations.
Churchill Downs Inc. (NASDAQ:CHDN - News) said Michael Miller, who has served as chief financial officer since December 2002, is leaving to become CFO of Poe Cos. Miller's final day with Churchill, a horse racing venue operator, will be Jan. 26.
Coldwater Creek Inc. (NASDAQ:CWTR - News) lowered its outlook for fiscal fourth quarter per-share income to a range of 16 cents to 17 cents. Previously, the women's apparel company said it was looking for a per-share result of 26 cents to 27 cents. Coldwater cited slower-than-expected customer traffic throughout the holiday season.
Digi International Inc. (NASDAQ:DGII - News) said first-quarter net income rose, as sales gained, to $3.8 million, or 15 cents a share, from $2.18 million, or 9 cents a share, during the same period in the prior year. The company said quarterly revenue rose to $41.8 million from $33.4 million in the prior year.
E-Trade Financial Corp. (NASDAQ:ETFC - News) said fourth-quarter net income jumped 37% to a record, as customers traded more and stored more cash and investments with the discount broker.
General Electric Co. , moving to broaden its diagnostic offerings, will buy Abbott Laboratories' (NYSE:ABT - News) in-vitro and point-of-care diagnostics businesses for $8.13 billion in cash.
Jacuzzi Brands Inc. (NYSE:JJZ - News) said it sees preliminary fiscal first quarter operating income declining primarily due to a 40% drop in income in the Bath segment due to operating losses at the U.S. whirlpool bath operations.
JDSU (NASDAQ:JDSU - News) raised its view for fiscal second quarter revenue to a range of $360 million to $365 million. Previously, the communications test products company had said it was looking for revenue of $332 million to $352 million. JDSU cited its Communications Test and Measurement segment performing "particularly well."

KeyCorp raised its quarterly cash dividend 5.8% to 36.5 cents a share from 34.5 cents a share. The dividend is payable March 15 to shareholders of record as of Feb. 27.
Molex Inc. (NASDAQ:MOLX - News) reported fiscal second-quarter net income of $66.4 million, or 36 cents a share, up from $58.5 million, or 31 cents a share, a year ago. Revenue at the electrical equipment maker rose 20% to $837.5 million from $697.3 million.
Oneok Inc. (NYSE:OKE - News) raised its quarterly dividend 6.3% to 34 cents a share from 32 cents a share. The gas distributor said the dividend is payable Feb. 15 to shareholders of record as of Jan. 31.
Polaris Industries Inc. (NYSE:PII - News) said it has renewed and extended the employment agreement of Chief Executive Tom Tiller through 2008. Tiller will also continue to serve on the board, the snowmobile and motorcycle maker said.
Presstek Inc. (NASDAQ:PRST - News) said it expects fourth-quarter consolidated revenue to exceed $65 million, in line with the company's prior outlook excluding revenue from the Precision Analog operations, which was discontinued in the fourth quarter.
Stride Rite Corp. (NYSE:SRR - News) raised its quarterly cash dividend 17% to 7 cents a share from 6 cents a share. The maker of shoes said the dividend is payable March 15 to stockholders of record as of Feb. 27.
Textron Inc. (NYSE:TXT - News) said it now expects fourth-quarter earnings from continuing operations will be above its prior outlook of $1.35 a share to $1.45 a share. The company said its improved view is due to stronger financial performance at Cessna, Textron Systems and Textron Financial and a lower tax rate.
UnionBanCal Corp. (NYSE:UB - News) reported fourth-quarter net earnings of $226.4 million, or $1.61 a share, compared with $308.5 million, or $2.09 a share, in the same period last year. Revenue rose slightly to $672.7 million from $665.2 million.
Washington Post Co. (NYSE:WPO - News) raised its annual dividend 5% to $8.20 a share from $7.80 a share.
Xilinx Inc. (NASDAQ:XLNX - News) said its quarterly profit rose 8% from a year ago, but its sales were soft. Xilinx reported fiscal third-quarter net income of $87.5 million, or 26 cents a share, compared to net income of $81 million, or 23 cents a share, in last year's same period. Published By MarketWatch

Labels: ABT, CAMD, CHDN, CWTR, DGII, ELY, ETFC, JDSU, JJZ, MOLX, OKE, PII, PRST, SRR, TXT, UB, WPO, XLNX