Jim Cramer Blog

PG&E Corp. (NYSE:PCG - News) posted a fourth-quarter profit of $152 million, or 43 cents a share, down from $180 million, or 49 cents a share, a year earlier. The company attributed most of the decline to severance costs that resulted in an after-tax cost of 5 cents a share in the most recent period. Analysts polled by Thomson First Call had expected a profit of 44 cents a share. California's biggest utility raised its outlook for 2007 earnings by 5 cents a share to a range of $2.70 to $2.80 a share.
Quanta Services Inc., (NYSE:PWR - News) the Houston provider of contracting services and solutions for electric power, gas, telecommunications and cable television, swung to a fourth-quarter loss from a year-earlier profit on 13% higher revenue. For the first quarter Quanta expects to earn 10 cents to 12 cents a share compared with 7 cents in the year-earlier period. Revenues should range $540 million to $550 million, up from $496.5 million a year earlier.
Skechers USA Inc. (NYSE:SKX - News) reported fourth-quarter earnings more than doubled to 33 cents a share from 14 cents in the year-earlier period. The Manhattan Beach, Calif., footwear company posted revenue of $304.5 million vs. $223.5 million. Skechers expects first-quarter earnings of 50 cents to 55 cents a share on revenue of $325 million to $335 million.
Teekay Shipping Corp. (NYSE:TK - News) reported fourth-quarter earnings fell to 81 cents a share from $1.85 in the year-earlier period. The Bahamas shipper of oil and natural gas posted voyage revenue of $587 million, up 10%.
TRW Automotive Holdings (NYSE:TRW - News) earned 32 cents a share in the fourth quarter, down from 57 cents in the year-earlier period. The Livonia, Mich. maker of safety systems for cars said sales rose 4.3% to $3.3 billion. The average estimate of analysts polled by Thomson Financial was earnings of 3 cents on revenue of $3.16 billion. TRW is forecasting sales of $13.4 billion to $13.8 billion for 2007, yielding earnings of $1.85 to $2.15. Thomson is looking for earnings of $2.10 and sales of $13.4 billion.
ValueClick Inc. (NasdaqGS:VCLK - News), an Internet marketing firm, reported profit increased 56% as sales rose 38%.
Wabtec Corp. (NYSE:WAB - News) Thursday reported fourth-quarter earnings of $26.2 million, or 53 cents a share, up from a year-ago profit of $16.3 million, or 34 cents a share. On a continuing operations basis, the company earned $26.9 million, or 55 cents a share, in the fourth quarter, up from a year-ago equivalent profit of $17.9 million, or 37 cents a share. The latest results include a net tax benefit of 8 cents a share. Excluding the gain, the Wilderming, Pa., maker of rail technology products said it earned 45 cents a share in the latest quarter. Sales rose 9% in the latest three months to $294.4 million from $270.3 million in the same period a year earlier. The company attributed the sales increase in the latest quarter to higher sales of transit locomotives, locomotive components and radiators for non-rail markets, as well as acquisitions. The average estimate of analysts polled by Thomson Financial was for a profit of 44 cents a share in the December period. The company also affirmed its outlook for earnings of $2.10 a share for fiscal 2007, excluding restructuring expenses of roughly 5 cents a share. Wall Street's current consensus estimate is for a profit of $2.10 a share for the year.
WebMD Health Corp. (NasdaqGS:WBMD - News) reported fourth-quarter earnings of 15 cents a share, up from 11 cents in the year-earlier period. The New York provider of health information services posted revenue of $80.6 million vs. $49.1 million. WebMD raised its 2007 outlook and now expects per-share earnings of 35 cents to 48 cents on revenue of $336 million to $352 million.
Whole Foods (NasdaqGS:WFMI - News) agreed to acquire smaller rival Wild Oats Markets Inc. (NasdaqGM:OATS - News) for about $565 million, as it grapples with competition from conventional supermarkets.

Labels: OATS, PCG, PWR, SKX, TK, TRW, VCLK, WAB, WBMD, WFMI

AZZ Inc. (NYSE:AZZ - News), a manufacturer of electrical products and provider of galvanizing services, said that it's expecting to produce fiscal 2008 earnings in a range of $2.70 to $2.80 a share. Sales are expected in a range of $275 million to $2.85 million. The estimates assume that domestic markets will continue to be strong, that the company will continue to penetrate international markets and that zinc and other commodity prices will be less volatile. Galvanizing margins are expected in a range of 18% to 22%, while electrical and industrial operations are expected to produce margins in a range of 11% to 13%.
CACI International (NYSE:CAI - News) was downgraded to neutral from buy at Banc of America Securities.
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 26 cents to 27 cents. Coldwater cited slower-than-expected customer traffic throughout the holiday season.
Digi International Inc. (NASDAQ:DGII - News) first-quarter net income rose to 15 cents a share from 9 cents in the year-earlier period. Revenue rose to $41.8 million from $33.4 million.
Enterra Energy Trust (NYSE:ENT - News) reported a cash distribution of 6 cents per trust unit to be paid on Feb. 15. This payout represent a reduction from the 12 cents per trust unit the company distributed in each of the past six months. Enterra attributed the reduction to significantly weaker commodity prices, capital market uncertainty stemming from recent tax changes proposed by the Canadian government and early conversion of debentures to trust units.
E-Trade Financial Corp. (NASDAQ:ETFC - News) fourth-quarter net income jumped 37%, as customers traded more and stored more cash and investments with the discount broker.
Fortune Brands (NYSE:FO - News) was downgraded to neutral from overweight at J.P. Morgan. The firm cited a 20% gain in the share price since the end of June and the weak outlook for home and hardware sales and operating margins. The broker also told clients it believes margin expansion in the spirits and wine division is also limited as it thinks Fortune will increase investment in its newly acquired Allied brands.
General Electric Co. (NYSE:GE - News) reported fourth-quarter net income doubled to 64 cents a share, in line with estimates. Revenue rose a stronger-than-expected 11% to $44.62 billion. In addition, GE agreed to buy Abbott Laboratories' (NYSE:ABT - News) in-vitro and point-of-care diagnostics businesses for $8.13 billion in cash.
Hythiam (NASDAQ:HYTM - News) shares slid after the Los Angeles-based provider of health management services said late Thursday it has agreed to acquire Comprehensive Care Corp. for $9 million in cash and 708,066 shares of stock. The deal is expected to close in the first half of 2007.
IBM (NYSE:IBM - News) reported an 11% rise in fourth-quarter profit, helped by higher sales in its key global services division and more demand in its software business, although the stock fell due to meager sales growth for the company's hardware business.
Irvine Sensors Corp. (NASDAQ:IRSN - News) shares slumped after the Costa Mesa, Calif.-based developer of miniaturized infrared and electro-optical cameras said it was unable to file its Form 10-K for the fiscal year ended Oct. 1, 2006, by the yesterday's deadline. The company did not provide a reason for the delay in filing its 10-K.
Lamar Advertising (NASDAQ:LAMR - News) was downgraded to neutral from buy at Banc of America Securities.
Lubrizol (NYSE:LZ - News) was downgraded to neutral from overweight at J.P. Morgan.
Nuveen Investments (NYSE:JNC - News) said fourth-quarter net income for the three months ended Dec. 31 rose 15% to $50.2 million, or 60 cents a share, from $43.5 million, or 53 cents a share in the year-ago period. Revenue rose 24% to $195.6 million. Analysts surveyed by Thomson First Call forecast earnings of 61 cents a share, on average.
Shares of Rite Aid (NYSE:RAD - News) fell after Goldman Sachs downgraded the drugstore chain to sell from neutral, citing concerns over valuation and challenges integrating its Eckerd acquisition. "Shares of dramatically outperformed over the past several months on optimism over Eckerd's turnaround potential," Heinbockel said in a research note. He said the stock's strong gains leave it trading at the same valuation as the faster-growing and less leveraged CVS-Caremark combination. "As a result, we see a potential correction of 10% to 15% sometime in the first half of 2007," Heinbockel said. The stock was last down 3.1% at $5.95, but was still up 24% over the past four months. Heinbockel raised his stock price target to $5.45 from $4.54.
Stanley Works (NYSE:SWK - News) was downgraded to underweight from neutral at J.P. Morgan. The firm said the company's recent acquisition run has diluted returns and increased integration risk, particularly regarding Bostitch.
SunTrust Banks (NYSE:STI - News) said net income rose 1% to $523.6 million, or $1.46 a share, from $518.5 million, or $1.43, a year ago. Analysts, on average, forecast earnings of $1.46 a share, according to Thomson First Call. Quarterly revenue increased 3% to $2.07 billion from $2 billion, while non-interest income gained 11% to $882.6 million from $797.9 million, the Atlanta bank said.
Textron Inc. (NYSE:TXT - News) updated its fourth-quarter outlook Thursday night. The Providence, R.I. defense and aerospace company said it had "incurred additional costs related to its Bell Helicopter H-1 program." It now expects earnings from continuing operations to exceed previous guidance of $1.35 to $1.45 a share. That median still fell short of analysts' average estimates of $1.46 a share, as polled by Thomson Financial. The company said strong financial performance at Cessna and other units during the fourth quarter should more than offset additional H-1 costs.
TRW Automotive Holding Corp. (NYSE:TRW - News) was downgraded to sell from neutral at Goldman Sachs.
Washington Post Co. (NYSE:WPO - News) raised its annual dividend 5% to $8.20 a share from $7.80 a share.
Westlake Chemical Corp. (NYSE:WLK - News) was downgraded to reduce from neutral at UBS. The firm lowered its price target on the stock to $36 from $32.

Labels: ABT, CAI, CWTR, DGII, ENT, ETFC, FO, GE, HYTM, IBM, IRSN, JNC, LAMR, LZ, RAD, STI, SWK, TRW, TXT, WPO