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Stocks to Watch: Cephalon, Electronic Arts, Gateway, Macrovision, Univision


Finish Strong


Stocks to watch for Friday, November 3

  • Aquantive (AQNT) said third-quarter net income rose, as revenue gained, to $13.6 million, or 16 cents a share, from $9.44 million, or 13 cents a share, during the same period in the prior year. Aquantive said quarterly revenue rose to $111 million from $78.8 million in the prior year.
  • Avanex (AVNX) said its first-quarter net loss narrowed to $9.8 million, or 5 cents a share, compared with a net loss $16.9 million, 12 cents a share, in the prior year. Excluding share-based payments, among other items, the company's per-share loss narrowed to 3 cents vs. 10 cents last year.
  • Cephalon (CEPH) reported third-quarter net earnings of $95.7 million, or $1.43 a share, compared with $29.3 million, or 50 cents a share, during the year-ago period. The Frazer, Pa.-based biotechnology company posted revenue of $482.3 million vs. $309.5 million.
  • Electronic Arts (ERTS) reported a quarterly profit that fell 57% from a year ago, when it didn't account for the cost of employee stock options, but its shares rose almost 8% in late trading as results topped expectations and the company raised its full-year sales and profit forecast.
  • Emmis Broadcasting (EMMS) declared a special cash dividend of $4 a share, payable Nov. 22 to shareholders of record as of Nov. 12.
  • Gateway (GTW) reported a fiscal third-quarter profit that rose almost 21% from a year ago, but the No. 3 U.S. personal-computer company saw its sales dip amid flat PC sales.
  • Gemstar-TV Guide International (GMST) income fell 65% from the year-earlier quarter that included a substantial gain, but the shares advanced after the company reported a better-than-expected revenue total.
  • JDSU (JDSU) on Thursday reported a narrower quarterly net loss as the company cut costs and benefited from an acquisition-related increase in sales.
  • Macrovision (MVSN) reported third-quarter net earnings of $6.4 million, or 12 cents a share, compared with $6.1 million, or 12 cents a share, in the prior year, as revenue and expenses rose. Revenue rose 25% to $58.1 million from $46.6 million.
  • Energy services contractor McDermott International (MDR) reported a 74% jump in third-quarter earnings, with the return of Babcock & Wilcox to the company's books accounting for the bulk of the gains.
  • MGM announced a deal with Tom Cruise and his production partner, Paula Wagner, to relaunch the United Artists studio. Cruise/Wagner Productions was abruptly cut loose by Viacom's Paramount studio earlier this year.
  • Microsoft (MSFT) reached a deal with Novell (NOVL) that makes it easier for customers to use both the Linux and Windows operating systems.
  • Nationwide Financial Services (NFS) said third-quarter net income came in at $159.5 million, or $1.06 a share, down 4% from a year earlier, when the life insurance and retirement savings company made $166.7 million, or $1.08 a share. Operating earnings, which exclude net realized investment gains and losses, were $154.7 million, or $1.03 a share.
  • Neurocrine Biosciences (NBIX) said it swung to a third-quarter net loss, as revenue plummeted from last year's result that included a $50 million milestone payment, of $39.1 million, or $1.03 a share. During the same period in the prior year, net income was $26.2 million, or 68 cents a share.
  • Oracle (ORCL) and Stellent (STEL) said Oracle has agreed to acquire Stellent in a cash tender offer for $13.50 per share, or $440 million. Software behemoth Oracle's bid is a 27% premium to Stellent's closing price of $10.62.
  • PDL BioPharma (PDLI) said its third-quarter net loss narrowed to $6.72 million, or 6 cents a share, in the quarter ended Sept. 30, compared with a net loss of $45.2 million, or 43 cents a share, the year before. Excluding one-time items, PDL reported a profit of 23 cents a share.
  • Qualcomm (QCOM) said its quarterly net income rose 14% from a year ago as it sold more of its cell-phone chip technology.
  • Red Robin Gourmet Burgers (RRGB) said third-quarter net income fell, as results included charges related to the acquisition of 11 restaurants, to $5.99 million, or 36 cents a share, from $6.47 million, or 39 cents a share, during the same period in the prior year. Excluding items, quarterly per-share income rose to 47 cents from 45 cents.
  • Univision Communications (UVN), which has agreed to be acquired by a group of private equity interests, said its third-quarter profit rose 11% on increased revenue at its television networks and stations.
  • Walter Industries (WLT) said third-quarter net income rose, as revenue gained, to $63.2 million, or $1.23 a share, from $20.2 million, or 43 cents a share, during the same period in the prior year. Analysts had expected per-share income of $1.38.

Market Update

  • Asian trading closed with the Hang Seng +0.19%, Sensex +0.30%, Taiwan +1.18%, Shanghai +0.81% and the Nikkei was closed.
  • 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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