BIOVAIL
CORP. INT'L (BVF,
72.5)- The company announced a 2 for 1 stock split.
BRISTOL HOTELS & RESORTS (BH,
4.94)- The hotel operator missed estimates by a penny, earning 11
cents per share in the third quarter. Revenues in the quarter were
$196.9 million. Occupancy rates rose to 71.5% from 69.7%, and the
average daily price of a room rose to $85.80 from $81.95. The
company blamed the earnings shortfall on "competitive
pressures", and higher labor and marketing costs. The company
announced plans to eliminate 150 jobs, and said it expected to meet fourth
quarter earnings estimates.
CKE RESTAURANTS (CKR,
7.19)- The restaurant operator warned that third quarter earnings will
be $0.05-$0.08 per share, compared to current estimates of $0.19.
The company attributed the shortfall to negative same store sales growth
at its Hardees and Carl Jr. chains, Hurricane Floyd, and Y2K related
spending.
DATUM INC (DATM,
9)- The company's board has rejected a hostile, $10 per share, $58
million takeover bid from Frequency Electronics (FEI,
9).
DELL COMPUTER CORP (DELL,
43.43)- The PC maker met expectations as third quarter earnings rose
29% to 18 cents per share, excluding charges. Revenues increased 41% to
$6.78 billion in the quarter. The company said its results were negatively
impacted by an increase in the price of memory chips. The company
said its Internet sales rose to 43% of total revenues, or $35 million in
e-commerce revenues a day. The company expects to meet estimates for the
fourth quarter, and does not see any Y2K related spending slowdown.
JLM INDUSTRIES (JLMI,
4)- The maker of acetone and other chemicals missed estimates by three
cents as third quarter earnings slumped 67% to 7 cents per share.
Revenues increased 1.2% to $84.1 million. The company blamed higher
raw materials costs and lower finished product prices for the earnings
decline.
NORDSTROM INC (JWN,
22)- The retailer missed estimates by 3 cents as it earned 28 cents
per share, excluding charges, in its third quarter. Revenues rose
1.4% to $1.1 billion, but same store sales fell 1.9% in the quarter.
NORTH FACE INC (TNFI,
5.06)- The apparel maker lost 47 cents per share,
excluding charges in its third quarter as revenues tumbled 24.2% to $71
million. Inventories increased to $81.7 million from $58.7 million
in last year's third quarter.
ZALE CORP (ZLC,
44)- The jewelry retailer beat estimates by 3 cents as fiscal first
quarter earnings rose 150% to 15 cents per share. Revenues increased
26.9% to $322.6 million, and same store sales rose 10.1%.
11/11/99
BANC
ONE CORP (ONE,
35)- The bank holding company warned that it sees full year 1999
earnings of $3.45-$3.55 per share, compared to current analyst's
expectations of $3.59. The company blamed the shortfall on weakness
at its First USA credit card unit. The warning was the second in 3
months, and the shares dropped 2 1/2 in after hours trading on the news.
CLAIRE'S STORES (CLE,
21)- The apparel retailer met expectations as third quarter earnings
rose to 25 cents per share from last year's 21 cents. Revenues rose
$25.5 million to $182.6 million in the quarter. Same store sales
dropped 2%, but the company said it sees a return to positive same store
sales growth in the fourth quarter.
FOREST OIL CORP (FST,
11.63)- The oil and gas company met expectations as it earned 10 cents
per share in its third quarter. Revenue in the quarter increased to
$93.1 million from last year's $78 million.
FROZEN FOOD EXPRESS (FFEX,
4.75)- The refrigerated trucking company surprised with a loss of
seven cents per share in the third quarter. Analysts were looking
for a profit of 18 cents. Revenues rose to $97.1 million in the
quarter from last year's $93.5 million. The company blamed the
earnings shortfall on higher fuel prices, rising interest expenses, an
increase in the cost of hiring and training drivers, and higher insurance
costs.
GAP INC (GPS,
34)- The retailer beat estimates by a penny as third quarter earnings
rose 30% to 35 cents per share. Revenues jumped 27% to $3 billion in
the quarter, but same store sales growth in the quarter slowed to 5% from
the prior year's 13%. The company's Gap stores had negative same
store sales growth, while its Old Navy stores experienced
"low-teens" comparable sales growth.
INTERNATIONAL MULTIFOODS (IMC,
20)- The food distributor warned that third quarter earnings will be
$0.42-$0.45, compared to the current consensus estimate of 58 cents. The
company also said it sees earnings growth of 15%-20% in fiscal 2000, which
would put earnings 17-22 cents below current expectations. The company
blamed the shortfall on higher than expected distribution costs.
J.C. PENNEY CO (JCP,
25)- The department and drug store retailer announced plans to create
a tracking stock for its Eckerd drug store unit. J.C. Penney, with
$31.7 billion in annual sales, is trading at 11.4 times trailing earnings,
0.21 times sales, and below its book value of $26.73. The stock is
down from a 52-week high of $56.13.
U.S. INDUSTRIES (USI,
13)- The diversified manufacturer of plumbing, lighting, and hardware
products beat estimates by 13 cents as it earned 62 cents per share in its
fourth quarter, an increase from last year's 22 cents. Revenues in
the quarter increased to $916 million from the prior year's $825
million. The company, with $3.3 billion in annual sales, is trading
at 10.4 times trailing earnings, 1.3 times book, 0.4 times sales.
Earnings are projected to grow 12.8% a year over the next 5 years.
VERISIGN INC (VRSN,
152)- The company announced a 2 for 1 stock split.
11/10/99
ABERCROMBIE
& FITCH (ANF,
26.5)- The apparel retailer beat estimates by 5 cents as third quarter
earnings rose 50% to 36 cents per share. Revenues increased 25% to
$287 million in the quarter, and same store sales rose 11%. The
company said it is confident it will meet fourth quarter estimates.
AVID TECHNOLOGY (AVID,
12)- The maker of digital video tools announced plans to cut its
workforce by 11% as part of a planned restructuring. The company will take
a fourth quarter charge of $9-$10 million to cover restructuring costs,
and expects the shakeup to produce $20 million in annual cost savings.
FEDERATED DEPARTMENT STORES (FD,
42)- The department store operator beat estimates by 3 cents as third
quarter earnings rose 12% to 56 cents per share. Revenues in the
quarter increased to $4.24 billion from the prior year's $3.65
billion. The company said same store sales rose 3.9% in the quarter.
PMC CAPITAL (PMC,
8)- The company said third quarter earnings fell 17% to 24 cents
a share. Revenues in the quarter fell to $5.68 million from the
prior year's $6 million.
PLANETRX.COM (PLRX,
18.38)- The online pharmacy reported a narrower than expected third
quarter loss of 83 cents per share, compared to analysts' expectations of
a loss of 97 cents. Revenues increased 308% sequentially to $3.1
million in the quarter, while gross margins improved to 16% from the
second quarter's 11%.
SANGSTAT MEDICAL CORP (SANG,
20.5)- The maker of organ transplant drugs reported a narrower than
expected third quarter loss of 38 cents per share, excluding
charges. Analysts were looking for a loss of 43 cents in the
quarter. Revenues increased 3% sequentially to $14.8 million in the
quarter.
TELIGENT INC (TGNT,
61.63)- The communications company met expectations as it lost $2.66
per share in the third quarter, an increase from the prior year's loss of
$1.49. Revenues jumped 160% sequentially to $10.3 million. The
company said its customer base increased 110% sequentially to over 7,500
customers.
UNITED PARCEL SERVICE (UPS,
50)- Shares of the package delivery service were priced at $50, above
the expected range of $46-$49. Trading begins today on the
NYSE.
11/9/99
ALLIED
WASTE INDUSTRIES (AW,
10.25)- The waste management company missed expectations by 6 cents as
it earned 23 cents per share in its third quarter on revenues of $1
billion. The company warned that fourth quarter 1999 and full year
2000 earnings will be below current analysts' estimates. Allied
Waste sees fourth quarter earnings of $0.20-$0.21 per share, compared to
estimates of $0.32, and full year 2000 earnings of $1.22-$1.32, compared
to analysts' expectations of $1.45.
AXSYS TECHNOLOGIES (AXYS,
9.75)- The optical products maker earned 15 cents per share, excluding
a tax reversal gain, in the third quarter. Analysts were looking for
20 cents. The company earned 27 cents in last year's third
quarter. Revenues rose 2.4% to $26.88 million in the quarter.
The company said it is continuing to experience slow sales in its
Precision Systems Group due to ongoing weakness in the data storage
industry.
BOB EVANS FARMS (BOBE,
13.56)- The restaurant operator announced plans to buyback 7.8% of its
outstanding shares.
CAIS INTERNET INC (CAIS,
14.5)- The provider of broadband Internet access services reported a
much wider than expected third quarter loss of 59 cents per share,
excluding charges. Analysts were looking for a loss of 38
cents. Revenues increased 48% sequentially to $2.7 million in the
quarter.
CHARTER
COMMUNICATIONS (CHTR,
19)- The cable TV company's shares were priced at the top end of their
range at $19. Trading in the shares begins today on NASDAQ.
DOLLAR GENERAL CORP (DG,
25.25)- The discount retailer met expectations as earnings rose 26.1%
to 19 cents per share in the third quarter. Revenues increased 21.6%
to $950 million, and same store sales rose 7.4%. The company said
gross margin increased to 29.24% from 28.76%.
DONNA KARAN INTERNATIONAL (DK,
8.13)- The apparel maker beat estimates by two cents as earnings rose
18% to 46 cents per share, excluding gains, in the third quarter.
FREMONT GENERAL CORP (FMT,
8.56)- The provider of workers compensation insurance reported a wider
than expected third quarter loss of $1.30 per share, compared to last
year's profit of 53 cents. Analysts were looking for a loss of 90
cents in the quarter. Revenues in the quarter increased to $349
million from the prior year's $250 million. The company warned that
it expects fourth quarter results to be breakeven.
JACK IN THE BOX INC (JBX,
20.5)- The fast food restaurant operator beat estimates by 4 cents as
it earned 47 cents in the fourth quarter, an increase of 51.6% from the
prior year. Revenues increased 32% to $361.1 million in the quarter,
and same restaurant sales rose by 9.3%. Operating margins increased
to 21.1% from 18.6% in last year's fourth quarter.
NATIONSRENT INC (NRI,
6.25)- The equipment rental company met expectations as third quarter
earnings rose 21.4% to 17 cents per share. Revenues increased 127% to
$154.9 million in the quarter.
OAKWOOD HOMES CORP (OAK,
3.68)- The manufactured homebuilder reported a wider than expected
fourth quarter loss of 56 cents per share, excluding charges, compared to
analysts' expectations of a loss of 55 cents. Revenues slumped to
$362.2 million from $522.5 million in last year's fourth quarter.
The company's gross profit margin declined to 23.7% from 29.7% in the
prior year.
OFFICEMAX (OMX,
6.38)- The office supply retailer met expectations as it earned 14
cents per share, excluding charges, in the fourth quarter. Revenues
increased 13% to $1.3 billion. The company said same store sales
rose 1% in the quarter, but fell 26% in its Computer Business Segment.
TOYMAX INTERNATIONAL (TMAX,
9.94)- The toymaker earned 38 cents per share in its second quarter, a
penny above expectations, and two cents above last year. Revenues
increased 15% to $47.4 million in the quarter. Separately, the
company announced that it has agreed to acquire the Funnoodle line of
backyard pools and water toys from Kid Power.
VIANT CORP (VIAN,
96)- The Internet company announced a 2 for 1 stock split.
11/8/99
ANGELICA
CORP (AGL,
10.75)- The textile rental company warned that it expects third
quarter earnings to fall short of expectations. The company sees
earnings falling below the 31 cents earned in last year's third
quarter. Analysts were looking for 32 cents. The company
blamed the shortfall on lower than expected revenue growth, pricing
pressures, and a shortage of qualified labor. The company's CEO said
AGL will seek strategic alternatives to enhance shareholder value, which
may include the possible sale of some, or all, of the company.
AUTOCAM CORP (ACAM,
13)- The auto parts maker earned 23 cents per share in its fiscal
first quarter, missing estimates by six cents. The company also said
it has agreed to be purchased for $18.75 per share by an investment group.
COMPLETE BUSINESS SOLUTIONS (CBSI,
14)- The provider of technology consulting services missed estimates
by a penny as third quarter earnings fell 8.3% to 22 cents per
share. Revenues rose 20.8% to $119.2 million in the quarter.
The company attributed the lower earnings to a Y2K related revenue
slowdown and warned it expects the problems to continue into the fourth
quarter, resulting in Q4 earnings of $0.11-$0.13 per share. Analysts
were looking for the company to earn 23 cents in the fourth quarter.
ENRON CORP (ENE,
38)- The energy company will sell its Portland General Electric
subsidiary to utility holding company Sierra Pacific Resources (SRP,
22) in a deal valued at $2.1 billion.
GENESEE & WYOMING INDUSTRIES (GNWR,
13.75)- The railroad operated missed estimates by 10 cents as it
earned 57 cents per share (excluding a tax benefit gain of 96 cents) in
its third quarter. Revenues increased 29.8% to $45.1 million in the
quarter.
MEREDITH CORP (MDP,
35.13)- The publisher of Better Homes and Gardens received a favorable
mention in this weekend's Barron's, and was given a price target of $50 a
share.
MICROSOFT CORP (MSFT,
91.56)- The shares are down 10% in European trading following Friday's
adverse anti-trust ruling.
PEAPOD (PPOD,
11.68)- The Internet based grocer reponded to rumors that it was
running out of cash and said it currently has sufficient cash on hand to
fund operations into next year's third quarter, and said it is talking to
parties who are interested in investing in the company.
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Last modified: April 02, 2000
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