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THIS MORNING'S STOCKS WEEK OF
8/30/99-9/03/99 |
9/03/99 |
AVIALL
INC (AVL,
12)- Nolan Acquisition is reportedly close to making a $15.50 a share
buyout offer for the company.
CV THERAPEUTICS (CVTX,
19.5)- The biotech filed a registration statement for a secondary
offering of 4 million shares. The company currently has 11.2 million
shares outstanding. The shares could come under pressure on dilution
concerns.
EXCELSIOR HENDERSON MOTORCYCLE (BIGX,
3.19)- The beleaguered motorcycle manufacturer said that it will cut
its work force almost in half, from 216 to 119. The company also
said that it has replaced its COO and CFO.
PILLOWTEX (PTX,
9.94)- The home furnishings maker warned that third and fourth quarter
earnings will be below expectations. The company sees earnings of
$0.25-$0.30 in the third quarter and $0.50-$0.55 in the fourth quarter,
analysts were looking for 86 cents in the third quarter and 82 cents in
the fourth quarter. The company blamed the shortfall on
"manufacturing disruptions", lower margins, and higher marketing
expenses. |
9/02/99 |
4FRONT
TECHNOLOGIES (FFTI,
11.88)- The provider of outsourced computer services reported a 42%
rise in second quarter earnings to 17 cents a share, beating expectations
by a penny. Revenue rose 135% to $39.17 million. The company's
operating margin rose to 6.2% from 5.9%.
AMERICAN EAGLE OUTFITTERS (AEOS,
42.38)- The apparel retailer said August sales rose 45.8% to $93.3
million, and same store sales jumped 24%.
DOLLAR GENERAL CORP (DG,
26.38)- The retailer said August sales rose 22% to $290.3 million, and
same store sales rose 7.1%.
GLOBAL CROSSING LTD (GBLX,
24)- The company revised the terms of its bid for Frontier Corp.
GBLX is now offering Frontier shareholders 2 shares of GBLX for each
Frontier share held, compared to its previous bid of 1.79 shares.
The stock rose 1 in after hours trading on the news.
IVILLAGE INC (IVIL,
35.94)- The online community operator has agreed to acquire
FamilyPoint.com for $26 million in stock.
OSICOM TECHNOLOGIES (FIBR,
8.56)- The provider of networking solutions said second quarter
revenues rose 14% to $17.2 million. The company lost 29 cents a
share during the quarter, compared to last year's loss of 64 cents.
Backlog grew to $21.7 million from last year's $9.7 million.
PALL CORP (PLL,
20.06)- The maker of filtration products beat estimates by 9 cents as
it reported fourth quarter earnings of 40 cents a share, a 27% increase
from last year. Revenues rose 5.5% to $319 million in the quarter.
R&B INC (RBIN,
8.19)- The auto parts maker warned that the company will fail to meet
third quarter earnings expectations due to lower than expected revenue
during the quarter. The company said earnings could fall to "as
little as half" last year's third quarter earnings of 30 cents a
share. Analysts were looking for a profit of 35 cents.
RAINFOREST CAFE (RAIN,
6.75)- The restaurant operator said August sales rose 28% to $23.7
million, but same store sales dipped 6.1%.
TECH DATA CORP (TECD,
36.06)- The computer distributor met expectations of a 54 cents a
share profit in its second quarter. Revenues rose to $4.02 billion
in the quarter. |
9/01/99 |
COMVERSE
TECHNOLOGY (CMVT,
78)- The telecommunications systems maker reported a 55% rise in
second quarter earnings. Earnings rose to 52 cents a share in the
quarter, beating expectations by 3 cents. Revenues rose 25% to
$209.28 million in the quarter.
CSK AUTO (CAO,
23.75)- The auto parts retailer beat expectations by 2 cents, earning
46 cents a share in its second quarter. Revenue increased 19% to
$302.3 million in the quarter, and same store sales rose 6%.
CONSO INTERNATIONAL (CNSO,
5.63)- The maker of Simplicity patterns and decorative trimmings
missed estimates by 4 cents as it earned 18 cents a share in its fourth
quarter. Gross margins during the full fiscal year rose to 39.5%
from the prior year's 35.1%. The company, with annual revenues of
$119.7 million, is trading on a forward P/E of 6.3., and at 0.39 times
sales and 0.88 times book value.
DAY RUNNER (DAYR,
10.88)- The maker of personal organizers reported a much wider than
expected fourth quarter loss of 44 cents a share. Analysts were
looking for a loss of 16 cents in the quarter. During last year's
fourth quarter the company reported a profit of 39 cents a share.
Revenues fell 6.3% to $47.7 million in the quarter. The company
blamed the revenue decline on inventory tightening by its customers.
The company also said that it had restated its earnings for the first
three quarters due to "cost accounting errors". The
company said it expects to turn a profit during its fiscal first quarter.
FLOWERS INDUSTRIES (FLO,
15.75)- The baked goods maker restated its second quarter earnings
from a profit of 10 cents to a loss of 3 cents a share.
GLOBAL CROSSING LTD (GBLX,
25.88)- The acquisitive company will join the NASDAQ 100 next
Thursday.
MMC NETWORKS (MMCN,
30.88)- The company said that fourth quarter revenues could decline
5%-10% sequentially due to IBM's sale of its network equipment business to
Cisco Systems.
PETSMART INC (PETM,
4.81)- The operator of pet supply superstores missed estimates by a
penny as it reported a second quarter profit of 5 cents before
charges. Revenues rose 10.7% to $564.5 million in the quarter.
North American same store sales rose 5.2%, while U.K. comparables fell
0.5% in the quarter.
SBARRO INC (SBA,
27.5)- The restaurant operator's second quarter earnings rose 20% to
30 cents a share. The company previously reported on August 13th that the
Sbarro family would purchase the remainder of the company for $28.25 a
share.
SHOP AT HOME (SATH,
8.68)- The company met expectations as it reported a full year loss of
14 cents a share, compared to last year's 9 cent
profit. |
8/31/99 |
ADE
Corp (ADEX, 13.63)- The company's fiscal first quarter loss widened to
54 cents a share from last year's loss of 6 cents, significantly below
analysts' expectations of a 43 cent loss. Revenues tumbled to $12.4
million from last year's $24 million, and gross margin fell to 40% from
44%.
CARDIO THORACIC SYSTEMS (CTSI, 19)-
The medical equipment maker has agreed to be acquired by Guidant Corp for
$19.50 a share in a stock for stock deal.
COMPUSA (CPU, 6.68)- The largest
PC retailer reported a narrower than expected loss of 16 cents a share in
its fourth quarter. Analysts were looking for a loss of 27
cents. Revenues rose 23% to $1.46 billion in the quarter, and same
store sales inched up 1%. The company said it continued to be
negatively impacted by declining PC prices, but said gross margins in its
core retail operations improved to 13.3% from 12.9%.
DYCOM INDUSTRIES (DY, 39.75)- The
company beat expectations by 11 cents as it earned 53 cents a share in its
fourth quarter. Revenues rose to $144.3 million from the prior
year's $101.6 million.
FRUIT OF THE LOOM (FTL, 7.13)-
The apparel maker warned that third and fourth quarter earnings will be
"significantly below" current expectations. The company
blamed the poor forecast on customer service and production
"difficulties". The company also announced that it has
named former Carson Pirie Scott CEO Brian Bookshester as Acting CEO.
OFFICE DEPOT (ODP, 10.5)- The
office supply retailer's shares tumbled 3 1/4 to 10 1/2 in after hours
trading after it warned that second half earnings will fall short of
expectations. The company sees second half earnings of $0.38-$0.40,
analysts were looking for $0.50-$0.52. The company blamed the
lowered forecast on adverse "sales and margin trends".
OWOSSO CORP (OWOS, 5.5)- The
company warned that third quarter earnings will be 12 to 14 cents a share,
compared to current analysts' expectations of a 22 cent profit.
REMC INC (REMC, 12)- The maker of
microwave modules missed expectations by 4 cents as it reported second
quarter earnings of 3 cents a share, before charges. Revenue rose to
$47.33 million from last year's $44.37 million. |
8/30/99 |
CHINA
SOUTHERN AIRLINES (ZNH, 11.06)- The airline said first half revenue
rose 10.1% to $764 million. Earnings rose to a penny a share in the
half, beating expectations of a 1 cent loss. The average load factor
fell 2.5% due to weak economic conditions in China.
CHINA TELECOM (CHL, 60.56)-The
cellular operator beat expectations as first half profit rose 14.5% and
total subscribers rose 33.8%.
ESTEE LAUDER (EL, 47.13)- The
cosmetic maker's shares could come under pressure after being called
overvalued in a Barron's cover story this weekend.
ITT INDUSTRIES (ITT, 34.06)- The
company will acquire Singapore based rubber switch maker STX Pte. Ltd. and
expects the deal to be accretive to this year's earnings. STX had
$64 million in revenues last year.
KPN NV (KPN, 45.43)- The Dutch
telecom giant's first half earnings fell 9% to 0.88 euro a share, but beat
expectations of 0.81 euro. The company also upped its full year
forecast by 3% and said it is considering the listing of its mobile phone
unit.
NEWS CORP (NWS, 29.68)- The media
company is reportedly considering the purchase of Deutsche Telekom's cable
TV business, according to the Independent.
PROGRESSIVE CORP (PGR, 119)- The
insurer warned that third quarter earnings will fall short of analysts'
expectations of a $1.46 profit. The company blamed the shortfall on
higher initial costs and price reductions.
QWEST COMMUNICATIONS (QWST, 28.63)-
The company plans to file for an IPO for its KPNQwest joint venture.
Shares of the unit, a joint venture with KPN NV, would be offered in the
U.S. and Europe.
REPUBLIC SERVICES (RSG, 16.5)-
The waste collection company said it sees 1999 earnings of $1.17-$1.19,
below the current consensus estimate of $1.25.
SOVEREIGN BANCORP (SVRN, 10.63)-
The company is reportedly considering the purchase of 290 bank branches
from Fleet Financial. |
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