Stocks to Watch: Caremark, Citigroup, Maxim Integrated, ValueClick, Whole Foods
Coming down the backstretch
Stocks to watch for Thursday, November 2
- Allied Waste Industries (AW) reported a 24% jump in third-quarter profit, driven mostly by higher prices for its garbage hauling services.
- American Eagle Outfitters (AEOS) said October same-store sales rose 8%, below he average estimate of 9.9%. Total sales rose 18% to $186.4 million. The company also raised its raised its outlook for third-quarter earnings to a range of 64 cents to 65 cents a share, compared with its prior view of 61 cents to 63 cents a share.
- AmSouth Bancorp.(ASO) said three banking companies have agreed to buy 52 of its branches in Alabama, Mississippi and Tennessee. The divestitures were required by the Justice Department and Federal Reserve System in connection with AmSouth's planned merger with Regions Financial (RF).
- Andersons (ANDE) reported third-quarter net earnings of $8.39 million, or 51 cents a share. During the same period a year ago, Andersons posted a net loss of $636,000, or 4 cents a share.
- Defense contractor Caci International (CAI) said net earnings in its fiscal first quarter fell 1.7% to $18.8 million, or 60 cents a share, from $19.1 million, or 62 cents a share, in the year-ago quarter, dragged down by higher interest expense and income taxes. Revenue increased 10.5% to $467.6 million.
- Caremark (CMX) reported a 25% rise in third-quarter net earnings, as additional Medicare Part D services revenue helped drive its retail sales division.
- Citigroup (C) may be near a $3 billion deal to buy into China's Guangdong Development Bank, beating French and Chinese rivals.
- DTE Energy (DTE) reported a vast improvement in third quarter profits, as better results in its flagship electric utility boosted results from the year-ago quarter, when energy trading contracts shrank profits.
- Excel Technology (XLTC) said it has terminated its merger agreement with Coherent (COHR) due to a prohibition order from the German Federal Cartel Office. Coherent had agreed to buy Excel for roughly $376 million, or $30 a share in cash.
- ExpressJet Holdings (XJT) said traffic in October rose 9.1% to 850.8 million revenue passenger miles. Load factor, or the percentage of the plane filled with passengers, rose 0.8 percentage points to 77.5%.
- FMC (FMC) said it swung to third-quarter net income, as revenue gained and charges fell, of $35.1 million, or 89 cents a share. During the same period in the prior year, the net loss was $4.4 million, or 12 cents a share.
- Guess (GES) said third-quarter net income rose, as revenue gained, to $48.4 million, or $1.05 a share, from $20.7 million, or 46 cents a share, during the same period in the prior year. Analysts had expected per-share income of 72 cents.
- Guitar Center (GTRC) reported net earnings of $11.3 million, or 38 cents a share, compared with $14.4 million, or 51 cents a share, in the same period last year, as expenses rose. Revenue rose 12% to $472.7 million from $421.1 million.
- Hot Topic (HOTT) lowered its fourth-quarter earnings expectations after reporting that October same-store sales fell more than Wall Street expected. Sales at stores open longer than a year tumbled 7.2%, deeper than the 5.7% decline estimated by analysts.
- InfoSpace (INSP) reported that it swung to a third-quarter loss, hurt by the loss of a major revenue-producing partner and restructuring charges. The mobile content provider reported a loss of $46.7 million, or $1.49 per share for the quarter ended Sept. 30, compared to a profit of $11.3 million, or 32 cents a share, a year ago.
- Kindred Healthcare (KND) reported third-quarter net earnings of $2.94 million, or 7 cents a share, compared with $16.4 million, or 43 cents a share, during the year-ago period. The healthcare services company posted revenue of $1.06 billion vs. $951.3 million.
- Maxim Integrated Products (MXIM) said its fiscal first-quarter net income was $107.5 million, or 33 cents a share, versus $105.5 million, or 31 cents a share, in last year's same period. Sales rose 18.5% to $502.7 million.
- Plexus (PLXS) said fourth-quarter net income rose, as revenue gained, to $42.6 million, or 91 cents a share, from $10.5 million, or 24 cents a share, during the same period in the prior year. Quarterly revenue rose to $396.9 million from $322.2 million, while analysts had expected $397.8 million.
- Prudential Financial (PRU) reported a 13% drop in third-quarter net income after the giant life insurance and annuity company's tax bill jumped.
- Ruth's Chris Steak House (RUTH) said third-quarter net income rose, as revenue gained, to $2.33 million, or 10 cents a share, from $1.23 million, or 2 cents a share, during the same period in the prior year. Excluding items, quarterly per-share income from continuing operations fell to 8 cents from 10 cents in the prior year.
- Skyworks Solutions (SWKS) shares rose after the company said fourth-quarter per-share income, before items, rose to 7 cents from 4 cents in the prior year, while analysts polled by Thomson First Call had expected 5 cents. Skyworks said quarterly revenue rose to $193.1 million from $190.2 million in the prior year.
- Oil refiner Sunoco (SUN) reported third-quarter net earnings of $351 million, or $2.76 a share, up from $329 million, or $2.39, a year earlier. Revenue totaled $10.5 billion, up 13% from $9.3 billion a year ago.
- Tribune (TRB) told prospective suitors it is ready to weigh offers to sell off parts of itself after receiving lower-than-expected bids for the whole firm.
- UnumProvident (UNM) reported a third-quarter net loss of $63.7 million, or 19 cents a share, after the disability insurer had to pump more than $200 million into reserves to cover claims that have been reassessed. A year ago, UnumProvident generated a net profit of $52.6 million, or 17 cents a share.
- ValueClick (VCLK) reported third-quarter profit rose 52%, exceeding expectations, as it benefited from the growth in online advertising. For the quarter ended Sept. 30, profit rose to $16.8 million, or 17 cents a share, from $11 million or 13 cents a share a year ago.
- Whole Foods Market (WFMI) is expected to report earnings of 29 cents per share for the fourth quarter.
- Wyndham Worldwide (WYN) said it earned $92 million, or 45 cents a share, in the third quarter, down from $121 million, or 60 cents a share, in the prior year's period. Revenue for the quarter was $1.05 billion, up 10%.
- Asian trading closed with the Hang Seng +1.42%, Nikkei -0.15%, Sensex +0.45%, Taiwan +0.91% and Shanghai -0.24%.
- A check of the European bourses finds the CAC -0.51%, DAX -0.14%, FTSE +0.14% and Swiss Mkt +0.39%.
- Crude oil is trading -0.37 to 58.34 while gold is -0.8 to 618.5.
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