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Stocks to Watch: Activision, Analog Devices, Microsoft, Time Warner, Toll Brothers

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The daily MV Call!

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Stocks to Watch for Friday, May 5:
  • Activision (ATVI) reported a fiscal fourth-quarter loss on slightly lower sales, yet topped analysts' expectations on the strength of sales for its "Call of Duty 2" video game for the Xbox 360 console.
  • Ameristar Casinos (ASCA) said first quarter net income fell $0.05/share; excluding a loss on the early retirement of debt, it earned $0.35/share. Net revenue rose 6.7% to $256.1 million. Analysts, on average, expected it to post a profit of $0.37/share, on revenue of $258 million, according to Thomson First Call.
  • Analog Devices (ADI) downgraded to Neutral from Buy; increasingly concerned about degree of follow through in co's promises; Street ests for next two yrs too high - MER.
  • Anglogold Ashanti (AU) Reported 1Q EPS, excluding non-realised financial effects from derivatives, rose to $0.32 USD. Company production was 1.34m oz; sees 2Q output 1.48m oz, costs $299/oz; said gold market in sustained positive cycle; said positive impact on gold supply due to fall of almost 300m tons in de-hedging by gold producers from 427tons of gold hedge commitments in 2004 to 130 tons of hedging taken back in 2005; lowest level of de-hedging by gold producers since start in 2000; physical gold demand declining as prices rise.
  • Andrx (ADRX) said it had a first-quarter net loss $0.15/share. Sales fell to $241.4 million. Analysts polled by Thomson First Call expected earnings of $0.20/share.
  • Aon Corp. (AOC) reported first-quarter results came in just shy of analyst estimates.
  • Crocs (CROX) reported first-quarter net earnings of $$0.17/share. Pro forma earnings were $0.20/share. Revenue was $44.8 million vs. $11 million. Crocs said it expects second-quarter earnings of $0.21 to $0.22/share on revenue of $53 million to $55 million.
  • EOG Resources (EOG) reported quarterly net income more than doubled as natural-gas production rose 10%; said net income jumped to $424.8 million, or $1.73 per share, from $200.8 million, or $0.83 per share a year ago. Operating revenue rose 58% to $1.08 billion from $688.2 million in the same quarter last year. Analysts surveyed by Thomson First Call expected earnings of $1.24 per share on revenue of $1.03 billion.
  • Gemstar-TV Guide International (GMST) said it swung to a first-quarter profit from a year-ago loss as operating expenses decreased. Earned $8.6 million, or $0.02/share. Revenue dropped to $144 million from $164.1 million on lower circulation and advertising revenue at its publishing segment. Analysts were expecting a profit of $0.01/share on revenue of $144.5 million.
  • Las Vegas Sands (LVS) said first-quarter net income was $121.8 million, or $0.34/share. Sales were $530.4 million. The company said adjusted earnings were $0.38/share. Analysts polled by Thomson First Call expected, on average, earnings of $0.34/share on sales of $513.6 million.
  • Microsoft (MSFT) said it would acquire Massive Inc., a privately held company that helps companies place ads in video games, as it looks to snag a bigger piece of online advertising spending.
  • Quest Software (QSFT) said first-quarter net income was $6.64 million, or $0.06/share. On a pro forma basis, the company reported per-share income of $0.15/share. Analysts polled by Thomson First Call had expected per-share income of $0.13. Quest said quarterly revenue was $127.5 million, up from $103.3 million in the prior year. Analysts were looking for revenue of $119 million.
  • Time Warner (TWX) AOL preparing to offer 41m AOL IM users a free phone number that will allow people to call them from regular phones while they are online; AOL also plans to introduce AOL Pages to compete w/ MySpace.com - NYT.
  • Toll Brothers (TOL) Preannounced 2Q revenues were $1.44bln/ FC $1.47bln, backlog up 3% to $6.07bln, contracts down (29%) year-over-year to $1.56bln, cancellation rate 8.5%; ordinary demand slackened.
  • Univision Communications (UVN) said its first-quarter profit rose more than 20% as revenue improved on ratings growth at its television and radio stations.
No positions in stocks mentioned.

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