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THIS MORNING'S STOCKS WEEK OF
8/9/99-8/13/99 |
8/13/99 |
| 4KIDS
ENTERTAINMENT (KIDE, 41.88)- The entertainment company reported second
quarter earnings of 31 cents a share, compared to 2 cents last year.
Revenues in the quarter rose 151% to $5.51 million. The company also
announced a 2 for 1 stock split.
GORAN CAPITAL (GNCNF, 8.75)- The
insurer's Symons International subsidiary said it has held talks with
possible buyers regarding the sale of the company's crop and auto
insurance businesses.
INTELLIQUEST INFORMATION GROUP (IQST,
9.25)- The information management company reported a second quarter
loss of 13 cents a share, compared to expectations of a breakeven
quarter. Revenues fell 7% to $9.3 million in the quarter. The
company also announced that it has agreed to be acquired by Kantar Group
for $42.5 million plus cash on hand.
NORDSTROM (JWN, 29.81)- The
retailer beat second quarter estimates by a penny as earnings rose 8.5% to
51 cents a share. Sales fell 0.3% to $1.4 billion in the quarter,
and same store sales dipped 2.4%. Gross margins improved to 34.6%
from 32.85% in the quarter.
SCIENTIFIC ATLANTA (SFA, 39.81)-
The communications equipment supplier said fourth quarter earnings rose
32% to 33 cents a share, 5 cents above expectations. Revenues
increased 17% to $355.2 million, and bookings jumped 22% to $388.7 million
in the quarter.
STEWART ENTERPRISES (STEI, 10.06)-
The funeral home and cemetary operator warned that price competition will
cause third and fourth quarter earnings to fall short of
expectations. The company sees $0.25-$0.27 in the third quarter
compared to estimates of 29 cents, and $0.17-$0.19 in the fourth quarter
compared to estimates of 22 cents. |
8/12/99 |
| AMC
ENTERTAINMENT (AEN, 16.75)- The theatre operator reported a narrower
than expected loss of 48 cents a share in its fiscal first quarter.
Analysts were looking for a loss of 58 cents a share. Revenues rose
20% to $288 million in the quarter. Average ticket prices rose 14%
in the quarter.
ETOYS INC (ETYS)- The Internet
retailer's BabyCenter subsidiary is considering "strategic
alternatives" for its Consumer Health Interactive division, including
the possible sale or spinoff of the division.
IRIDIUM WORLD COMMUNICATIONS (IRID,
5.94)- The satellite phone operator has defaulted on $1.55 billion in
loans. The news is putting pressure on the shares of Motorola, which
holds an 18% share in Iridium, in European trading.
LATTICE SEMICONDUCTOR (LSCC, 62.88)-
The company announced a 2 for 1 stock split.
MAGNA INTERNATIONAL (MGA, 52.25)-
The automotive supplier missed estimates by 2 cents, earning $1.32 a share
in its second quarter as revenues rose 44% to $2.32 billion.
PEGASYSTEMS (PEGA, 8)- The
software maker surprised with a second quarter profit of 3 cents a share,
compared to expectations of a loss of 7 cents. Revenue rose 17.6% to
$21.3 million in the quarter. License revenues fell 8.3% to $9.1
million in the quarter.
PREMIER PARKS (PKS, 35.43)- The
theme park operator earned 38 cents a share in its second quarter (before
an extraordinary loss), beating expectations of a 17 cent profit.
Revenues rose 14.1% to $333.5 million in the quarter.
TELIGENT (TGNT, 64)- The
communication company's second quarter loss widened to $2.34 a share from
last year's loss of $1.12. The results beat the consensus estimate
of a loss of $2.42 a share. The company, with a market cap of $3.38
billion, reported revenues of $4 million in the quarter. |
8/11/99 |
| ABERCROMBIE
& FITCH (ANF, 37.5)- The apparel retailer beat estimates by 3
cents as earnings rose 70% to 17 cents a share in its second
quarter. Sales rose 35% to $198.9 million in the quarter, and same
store sales jumped 17%.
ALCAN ALUMINUM (AL, 33.63)- Alcan,
Algroup, and Pechiney have agreed to merge, forming the world's largest
aluminum company. The new group will be known as A.P.A. and will be
headquartered in Montreal. Alcan shareholders will own 44% of the
new company, Pechiney shareholders 29%, and Algroup shareholders
27%. The new company expects to reduce its workforce by 5% and take
a $600 million charge to cover the costs. The company sees $600
million in annual synergies resulting from the deal.
BLOCKBUSTER INC (BBI, 15)- In a
further blow to the stumbling IPO market, the video retailer's shares were
priced at $15, below the expected range of $16-$18.
BRITISH SKY BROADCASTING (BSY, 55.13)-
The pay-TV satellite operator reported a 73% drop in 1999 earnings to 2.6
pence a share, in the mid range of analysts' estimates.
CISCO SYSTEMS (CSCO, 58.75)- The
network equipment company beat estimates by a penny, earning 21 cents a
share in its fourth quarter as revenues rose 48% to $3.55 billion in the
quarter. The shares rose 2 points in after hours trading and the
better than expected results could spark a relief rally in other tech
shares today.
GREEN MOUNTAIN POWER (GMP, 12.88)-
The utility lost 10 cents a share in its second quarter. The company
blamed the weak showing on higher power costs and higher capacity costs.
PCOM INC (PCMS, 4.25)- The maker
of telecom network access systems reported a wider than expected seocnd
quarter loss of 35 cents a share, compared to estimates of a 20 cent
loss. Revenue tumbled 43% to $36 million in the quarter.
VEBA AG (VEB, 64)- The chemicals
and telecom company said first half earnings rose to 2.1 billion euros
from last year's 660 million. Revenues rose 24% to 25.3 billion
euros in the half. The shares rose marginally on the news. |
8/10/99 |
| ALCAN
ALUMINUM (AL, 31.81)- The company is in merger talks with France's
Pechiney SA and Switzerland's Algroup, according to Algroup. The
three way merger would form the world's largest aluminum maker.
GATEWAY INC (GTW, 78.25)- The PC
maker announced a 2 for 1 stock split.
GERBER CHILDRENSWEAR (GCW, 7.5)-
The apparel maker earned 11 cents a share in its second quarter, a drop
from last year's 23 cents and 6 cents below expectations. Revenues
fell to $58.8 million from $63.9 million in the second year. The
company blamed higher than expected inventory levels and lower gross
margins for the shortfall.
HILLENBRAND INDUSTRIES (HB, 42.5)-
The casket maker warned that third quarter earnings will be $0.25-$0.39,
compared to analysts' expectations of a 64 cent profit. The company said
the shortfall was a result of lower than expected sales of medical
equipment as a result of uncertainty related to Medicare cuts, and slower
sales of caskets due to "a lower death rate this summer".
INTERNATIONAL NETWORK SERVICES (INSS,
47.43)- Forbes is reporting that the networking company is in talks
with Lucent Technologies to be acquired for $55 a share in a $3.7 billion
deal.
LEXMARK INTERNATIONAL (LXK, 62.88)-
The maker of printers will join the S&P 500 on August 12th.
MICHAEL FOODS (MIKL, 23.56)- The
egg and refrigerated potato products distributor has hired an investment
banker to explore strategic alternatives to enhance shareholder value.
OFFSHORE LOGISTICS (OLOG, 13.13)-
The oilfield services company beat estimates by 3 cents, earning 15 cents
a share in its first quarter, a decline from last year's 29 cents.
The company aid its results are still being negatively impacted by
unfavorable industry conditions.
SALON.COM (SALN, 8.75)- The
Internet company reported first quarter revenues of $1 million and a loss
from operations of $4.61 million (including a one time preferred dividend
payment the company lost $16 million in the quarter or $10.10 a share). |
8/9/99 |
| AMERCO
(UHAL, 24.5)- The trailer rental, insurance, and real estate holding
company's first quarter earnings increased to $1.77 a share from last
year's $1.21. Revenues rose 11.6% to $439 million in the
quarter. Operating profit margin improved to 19% from 17%.
AT&T (T, 51.68)- The telecom
operator was the subject of a negative story in this weekend's
Barron's. According to the article, several money
managers believe the company could be facing increased competition
and that the stock could decline 20%.
CISCO SYSTEMS (CSCO, 62.25)- The
company plans to invest $1 billion in the consulting arm of KPMG, giving
it a stake of just under 20%.
DATA GENERAL (DGN, 13.19)- The
company has agreed to be acquired by EMC Corp in a $1.1 billion stock
deal, giving the shares a value of $19.50 a share based on Friday's
close. The shares are up 5 in pre-open trading.
GIANT CEMENT HOLDING (GCHI, 22.5)-
The company received a favorable mention in Barron's. A money
manager sees the shares hitting $40 next year.
MERKERT AMERICAN (MERK, 10.06)-
The food service company warned that second quarter earnings would be
below last year's, and below analyst's expectations of 9 cents a
share. The company said that revenue in the quarter fell to $50.5
million from last year's $52.1 million. |
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