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HEES reports Q1 EPS of 32c vs. consensus of 29c
Reports Q1 revenue of $209.7M vs. consensus of $205.55M. Sees FY07 EPS of $1.63-$1.85 vs. consensus of $1.82, sees FY07 revenue of $900.0M-$920.0M vs. consensus of $901.22M.
After Hours Summary: WSSI up 25.9% on earnings/guidance
Companies moving in after hours trading in reaction to earnings:
Trading Up: WSSI +25.9%; HSOA +12.4%; MRGE +10.2%; VSTA +9.6%; BFLY +8.6%; PEIX +8.6%; AIRM +8.1%; NKTR +5.8%; TRMS +5.8%; NGEN +5.6%; TFSM +4.2%; HIMX +4.0%; PDII +3.9%; LOCM +3.5%; EAGL +3.1%; SCT +3.0%; IO +3.0%; BRKS +2.4%; NPSP +2.1%; ONXX +2.1%; PFWD +2.1%; CECE +2.0%; CPE +1.6%; XTNT +1.5%; ACA +1.0...
Trading Down: KNOT -15.3%; LGBT -12.1%; SNS -10.2%; WFMI -8.5%; WNG -7.1%; RSTO -6.0%; CTRN -5.6%; TRIS -5.5%; ALJ -5.3%; CRUS -5.0%; CAI -4.2%; PANL -3.9%; SIX -3.9%; GMKT -3.7%; SMCI -3.5%; AMCP -3.1%; NUVO -2.5%; GSS -2.4%; IPAR -2.3%; SYX -1.6%; JUPM -1.5%; RWT -1.4%; HLS -1.4%; BORL -1.2%; SVVS -1.2%; UNTD -1.0%...
Companies moving in reaction to news: Trading Up: VSTA +9.6% (announced co creates special committee to review all strategic alternatives; hires investment Bank RA Capital Advisors)... Trading Down: EPL -3.1% (announces departure of Tim Woodall as Chief Financial Officer); GT -3.0% (announces public offering of common stock; co plans to offer 22,549,609 shares at $33.26); AEO -1.8% (Apr same store sales -10.0%, Briefing.com consensus +1.3%; reaffirms Q1 EPS guidance); ATML -1.4% ( and new management team committed to taking all appropriate actions to unlock shareholder value); PAE -1.2% (announces agreement to acquire Trinity Home Entertainment).
* FWLT 74-$80- prelim $1.60, may not compare to the $0.75 Reuters consensus; revs $1.15 bln vs $1.04 bln Reuters consensus
EXPE $25 - 22.5 - $24 misses by $0.02, beats on revs (24.81 ) : Reports Q1 (Mar) adjusted earnings of $0.18 per share, excluding non-recurring items, $0.02 worse than the Reuters Estimates consensus of $0.20; revenues rose 11.5% year/year to $550.5 mln vs the $531 mln consensus. Briefing.com Note: EPS Consensus contains estimates ranging from $0.17 to $0.26; revenue consensus contains estimates ranging from $$552.5 mln to $507.1 mln. Gross bookings rose 8% to $5.016 bln. CEO Diller comments, "From the very difficult prior year, and a first quarter this year reflecting growth, we begin 2007 with renewed confidence in Expedia's operations and business model. With accelerating transaction growth, a 32% increase in European bookings, 11% revenue growth and the very beginning echoes of resurgence at Expedia.com we are seeing the early results of the reinvestments and reorganizations that made last year so challenging. We can't yet say what the next quarter or year may bring, but clear progress is being made both under the hood of daily work and structurally, with reduced share counts and a focus on managing for free cash flow over the long term."
Expedia upgraded to Buy from Hold at Stifel- tgt $29 (23.90 -0.91) -Update :
08-May-07 12:05 ET In Play Expedia: Earnings Conference Call Summary (23.15 -1.66) -Update : On conference call, EXPE notes they experienced accelerating transaction growth, a 32% increased in European bookings, and 11% rev growth for the quarter. Co states that recent signings of Frontier Airlines, Omni Hotels, Shangri-La Hotels and Hertz shows their ongoing progress in creating world's most compelling mkt place of travel products and services. Co says rev increased due to increased worldwide merchant hotel rev and advertising rev. Co notes worldwide merchant hotel rev increased 17% while worldwide air rev decreased 16% for the quarter due to a 20% decrease in rev per air ticket. For 2007 EXPE says they expect positive single digit "OIBA" growth for 2007. Co sees flat to slightly negative air margin growth for the year. Co notes Q2 will be very challenging compared to Q1. They note will be increasing brand spend for the year and that they expect Capex to increase 10% in 2007. Co notes that they saw a 3% increase in transactions in March and sees continued strength into April and May. Co does expect to see bottom-line pressure in Q2. They state that co does not have control over average price of airline tickers and room nights. Co believes this can impact bookings, but is focused on increasing transaction rates which should result in booking growth. In Q&A co was asked about consolidation and noted they have opportunities in front of them and engage in talks, but have no reason to speculate on any such news. Co also noted they are buyers of EXPE stock, but will only speak of this in the past tense and not announce stock buy backs.
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* NILE $48-$56-55 1Q07 beats ests, raises Y07 guidance - RBC (47.35 ) : RBC notes that NILE's 1Q07 results beat Street ests and guidance as it continued to see the benefits of the strategic price reductions from 1Q06 along with what firm believes to be an acceleration of its non-engagement category. Guidance for 2Q07 was better-than-expected on rev while typically conservative on EPS, and FY07 guidance was raised on flowthru of 1Q07 upside. Firm remains positive on NILE shares as they note that it continues to repurchase shares, shrink its float, and expand FCF. They have raised their tgt from $44 to $58.
* AQNT 29-34-33 beats on top and bottom line, guides Q2, Y07 revs above consensus (29.71 ) : Reports Q1 (Mar) earnings of $0.16 per share, $0.07 better than the Reuters Estimates consensus of $0.09; revenues rose 54.7% year/year to $142.6 mln vs the $122.6 mln consensus. Co issues upside guidance for Q2, sees Q2 revs of $148-153 mln vs. $138.15 mln consensus. Co issues upside guidance for FY07, sees FY07 revs of $595-615 mln vs. $570.28 mln consensus. CEO comments, "aQuantive started 2007 with strong financial performance, resulting in 42 percent organic revenue growth. Our performance in the first quarter builds on the investments and results of 2006. Our focus on innovating, expanding globally and providing differentiated client service to the digital marketing industry is working."
DIS $36.50 (dtop) prelim $0.44 vs $0.37 Reuters consensus, $0.38 First Call; revs $8.07 bln vs $8.11 bln Reuters consensus
CSCO 28-28.50-27 (dtop) prelim $0.34 vs $0.33 Reuters consensus; revs $8.87 bln vs $8.77 bln Reuters consensus reafirms long term rev guidance of 10-15% range
Cisco Systems sees Q4 revs sees Q4 rev growth of 15-16% which calculates to roughly $9.18-9.26 bln vs $9.22 bln consensus (28.36 +0.55) -Update-
ERTS 52-54-52 reports Q4 EPS 06c vs. consensus of 02c reports Q4 revenue $613M vs. consensus of $586.24M. Guides Q1 EPS (34c)-(40c) vs. consensus of (09c) and revenue $350M-$400M vs. consensus of $456.88M. Sees year EPS 90c-$1.20 vs. consensus of $1.31 and year revenue $3.6B-$3.8B vs. consensus of $3.58B.
Louis Navellier's Quantum Growth Update is positive on EXC & WSH and cautious on ACGL, BIDU, DWSN, HUM, & LHCG.
MSTR 115-97 missed by $0.52; missed on revs (115.64 -1.03) : Reports Q1 (Mar) earnings of $0.75 per share, $0.52 worse than the Reuters Estimates consensus of $1.27; revenues rose 4.2% year/year to $72.4 mln vs the $80.7 mln consensus. "Our first quarter results were mixed with an increase in revenue in our services business over the first quarter of 2006 offset in part by a decline in product license revenues."
TIE 32-34 beats by $0.03 earnings of $0.41 per share, $0.03 better than the Reuters Estimates consensus of $0.38; revenues rose 19.1% year/year to $341.7 mln vs the $334.6 mln consensus. "We expect to be operating at full annual capacity of ~12,600 metric tons by the end of Q3 of 2007. Our electron beam cold hearth addition (Morgantown, Pennsylvania) of ~8,500 metric tons of melted product annual capacity is on schedule for an anticipated completion date of early 2008. We have commenced design and engineering efforts for a new VDP sponge plant, which could initially provide an additional 10,000-20,000 metric tons of annual capacity of premium-grade sponge as early as the end of 2009. We have also entered into an extension of an existing third party sponge supply agreement that will provide for the ability to purchase up to 2,600 metric tons of additional sponge beginning in 2009 through 2016."
WYNN 101-108-103 beats by $0.13 (101.85 -0.67) : Reports Q1 (Mar) earnings of $0.67 per share, excluding non-recurring items, $0.13 better than the Reuters Estimates consensus of $0.54; revenues rose 129.2% year/year to $635.3 mln vs the $553.7 mln consensus.
Wynn Resorts: Earnings conf call summary (101.85 -0.67) -Update : Co did not provide guidance... Co says working very hard to understand the Macau mkt. Notes they now pay the most taxes per table of any co there and are proud of it... Co says size of expansion in China is "mind-boggling." Talks about history of resorts & casinos in Las Vegas and says patrons do not care about the size of a resort & casino; it's more about quality than size. Stressing to shareholders that WYNN should be conservative with "unprecedented" demand in Macau. Mentions neighbor who added hundreds of tables and did worse... Co says spending $3-4 mln a quarter on employees in Macau. Not looking for other workers (LVS announced extra cost for new worker training for their expansion there)... Co says can't wait until Palazzo opens. Want to have strong neighbors. Mentions how historically they have a higher hold percentage than their neighbors... Co says when comparing Q1 in Macau to Q4, see no weakening, and sees strengthening in VIP and slots. Says its continued into April and first week of May, which is "Golden Week" in China... Stock is trading $104.20 after hours.
07-May-07 16:47 ET In Play Wynn Resorts on call (101.85 -0.67) -Update : Co says size of expansion in China is "mind-boggling." Talks about history of resorts & casinos in Las Vegas and says patrons do not care about the size of a hotel & casino; it's more about quality than size. Stressing to shareholders that WYNN should be conservative with unprecedented demand in Macau. Mentions neighbor who added hundreds of tables and did worse... Call is already on to Q&A... Stock is trading $105.90 after hours
MDR 60-65 prelim $1.38 vs $0.76 Reuters consensus, $0.75 First Call; revs $1.36 bln vs $1.27 bln Reuters consensus
Stocks that closed near key Moving Averages on Friday -Update- -Technical-
Here's a brief list of stocks that closed near their key moving averages (20-day ema, 50-day ema/sma, & 200-day ema/sma) on Friday. Stocks that closed near their 20-day ema include: ALJ, SLB, BID, & LNET. Stocks that closed near their 50-day ema/sma include: ITRI, LJPC, JSDA, ATI, HITT, CF, KND, AMAG, & CWTR. Stocks that closed near their 200-day ema/sma include: BRKR, XING, TSCO, IIVI, & NYX. Note that this watchlist was compiled from the previous session's closing price and does not necessarily reflect pre-mkt activity
Short-term Overbought/Oversold candidates -Update -Technical : Here's a brief list of stocks that are currently trading at unusually high or low short-term levels.
Stocks that are overbought include: DWSN, VOCS, CRNT, NYMX, VZ, DK, CAMH, UPL, CQB, NAFC, AMED, ICOG, WHQ, GTI, NGA, PQ, CNET, HOS, MA, AH, PDGI, LNOP, AMRI, ARSD, & HLYS.
Stocks that are oversold include: NRMX, VII, WCG, PCOP, ALK, CERS, BBI, BRKR, & SMMX. Watch these stocks for potential continuations or corrections from their current states.
JDSU 17-16-14 JDSU reports Q3 EPS of 6c vs. consensus of 9c
Reports Q3 revenue of $361.7M vs. consensus of $346.24M. Sees Q4 revenue of $325M-$345M vs. consensus of $355.01M
JDSU-JDSU downgraded to Buy from Strong Buy, target $22@NEED
Needham downgraded shares to reflect the guide down for optical. Target lowered to $22 from $26. :
07:58 EDT JDSU-JDSU remain buyers on weakness, reiterate Buy & $20 target@DBAB
DBAB believes weakness in the company's optical segment will be short-term and the management guidance will likely to prove conservative. :
07:50 EDT JDSU-JDSU downgraded to Hold from Buy@ROTH
Roth Capital downgraded shares of JDSU following Q3 results and weak guidance. Target to $18.20 from $23.20. :
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LVS 91-87-81 beats by a penny revs flat/inline 1st-Quarter Profit Falls on Casino Opening Expenses
LAS VEGAS (AP) -- Las Vegas Sands Corp., the casino company run by billionaire Sheldon Adelson, said Wednesday its net profit for the first quarter fell 25 percent from a year ago, saying expenses increased due to planned casino openings in Macau, Singapore and the United States.
Net income dropped to $90.9 million, or 26 cents per share, compared to $121.8 million, or 34 cents a share, a year ago. Revenue grew 18.5 percent to $628.2 million.
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Las Vegas Sands: Color on quarter (88.54 ) : Wachovia notes LVS reported Q1 2007 EPS results of $0.32 vs firm's est of $0.29 and the Street consensus of $0.32. Firm says the numbers out of Sands Macau weighed on results in Q1.
Total EBITDA of $102 mln was down nearly 2% yr/yr and came in more than $14 mln below their est of $116 mln. Mass market table drop was essentially flat yr/yr, which firm believes is disappointing. Firm was relatively disappointed with the results in Q1, especially out of Sands Macau.
Sands Macau was affected by the additional competition in Q1, as well as higher than expected expenses related to the opening of the property. These expenses ($12 mln) in Q1 are likely to remain in Q2. They think these type of player retention costs are likely to be expected, as the Cotai Strip opens...
Deutsche notes LVS reported an in-line quarter with Las Vegas coming in at the high end of the pre-announced range, offset by softer results in Macau. Macau was modestly below firm's expectations and impacted by a $12 mln in atypical expenses... KeyBanc says despite the appearance of an in line quarter for LVS, a second look at the numbers reveals certain discrepancies that suggest results were somewhat lower than expected. This, coupled with the co's recent track record of soundly beating expectations, may inspire a less than enthusiastic near-term reaction regarding LVS shares. While LVS has two major projects opening during the remainder of this year, they believe the operating environment in Macau and Las Vegas will be increasingly challenging for all.
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HANS earnings release: May 7 before market, confirmed. Reuters Research estimate: 0.35
yum yum
*CELG reports Q1 EPS of 20c vs. consensus of 21c
Reports Q1 revenue of $293.41M vs. consensus of $294.54M. The company sees 2007 EPS of approximately $1.00 vs. consensus of $1.04 and revenue in the $1.3B range vs. consensus of $1.35B.
1Q07 EPS missed estimate and was in-line with consensus-Neut@BARD
The Revlimid launch was strong and the firm views it as being priced into the stock. Remains sidelined with their new $57 price target.
target upped to $72 from $70 on projected earnings growth-Buy@LAZA
LAZA increased its target to $72 from $70 and believes the 1.7 PEG and the three year period are warranted given Celgene's projected earnings growth through what the firm argues is a mature phase of Revlimid's launch. :
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TS 47-45 missed by $0.08 : Reports Q1 (Mar) earnings of $0.81 per share, $0.08 worse than the Reuters Estimates consensus of $0.89; revenues rose 49.5% year/year to $2.43 bln vs the $2.45 bln consensus.
Earnings Preview for the week of May 7th-11th:
Of the hundreds of companies reporting earnings the week of May 7th-11th some of the bigger names include:
Monday: AEE, CCOI, DRAD, ENCY, ENTG, ETM, HANS, HOFF, VITA, OSIS, BID, GROW, NILE, ANSW, DCEL, FLR, JCOM, QGEN, and WYNN...
Tuesday: AQNT, BECN, BLTI, CDE, CVS, DEPO, EXPE, TAP, MNTA, PLA, WMG, MDRX, CELL, CSCO, DIGE, LEAP, MVSN, MFLX, OPTV, SUPX, and DIS...
Wednesday: ALLT, AZPN, BRL, DTV, XJT, FWLT, IART, LM, MGAM, NICE, NWS.A, TLM, TOL, TXU, TFSM, HIMX, HSOA, IPAR, MRGE, VNUS, TTEC, and WFMI...
Thursday: STST, XTEX, XTXI, DISH, IPG, MEND, RMIX, VIA.B VG, JOBS, CPKI, CEGE, COGO, DEIX, GCOM, MAMA, NVDA, ROIAK, THQI, and WEBM...
Friday: ALU, CHCI, DRS, EMMS,GG, HELE, NVAX.
Weekly Gainers & Losers List
Weekly Gainers List
Stocks over $5 posting the largest percentage gain over the last five sessions include:
NGA +57%, DJ +54%, INVC +35%, MAFB +32%, CMTY +31%, CPY +30%, DNDN +30%, RTRSY 30%, NPTH +27%, CRNT +27%, CROX +26%, GTI +25%, HNSN +24%, ININ +24%, NVEC +23%, ACY +23%, SMDI +23%, SIL +22%, PDGI +21%, INAP +20%, CMG +19%, CECO +19%, DW +19%
Stocks over $5 posting the largest percentage loss over the last five sessions include:
CBM -53%, TCHC -43%, ISTA -35%, CRAY -29%, ITWO -28%, NRMX -28%, IPCS -23%, LIZ -22%, BBI -22%, CERS -21%, INPC -20%, CGPI -20%, SLP -20%, SLFI -19%, ROCM -19%, XING -18%, HSTX -18%, PGLA -17%, JDSU -16%, SRSL -16%, BDSI -16%, BIF -16%, DIVX -15%, NTE -15%, NFLD -15%
SBUX 31-33-31 reports in line; reaffirms FY07 guidance (31.62 +0.37) : Reports Q2 (Mar) earnings of $0.19 per share, in line with the Reuters Estimates consensus of $0.19; revenues rose 19.6% year/year to $2.25 bln vs the $2.3 bln consensus. SBUX reports Q2 same store sales +4.0% vs +4.36 Briefing.com Benchmark consensus. Co reaffirms guidance for FY07, sees EPS of $0.87-0.89 vs. $0.89 consensus; reaffirms 20% rev growth, which equates to roughly $9.35 bln vs $9.53 bln Reuters consensus. Reaffirms plans to open approximately 2,400 new stores on a global basis in fiscal 2007. "During the second quarter, we demonstrated our ability to deliver solid performance and effectively manage our operations despite difficult comparisons and a more challenging cost environment this year. As a result, we recorded operating margin that was comparable to last year's record second-quarter performance while continuing to substantially expand our business."
Starbucks Conf Call Summary (31.62 ) -Update : Say they remain enthusiastic about their food warming program and plan to have an aggressive rollout(half of US stores by end of FY07). Talking about a major spring promotional campaign featuring drinks, food, and music from latin america. Opened 147 international stores. Co says "second-quarter results also demonstrated that we are still very much in a growth phase with this business, which requires substantial investment to build the foundation for the future." Saying growth is going as planned, they have plans for summer, fall, and holiday season in place and are waiting to execute on them. Saying growth will shift slowly towards international. Saying margins will come down as food revs continue to increase but that will come with increased profits. No plans to increase prices at this time. Co repurchased 14.3 mln shares in Q2 and board authorized 25 million more on april 1st(already known). Saying have achieved relevancy and success in 2 major Chinese cities and believe they will obtain a big payoff from chinese expansion going forward. Stock trading at $31.85
* EXPD $42-$48-$45 reports in-line Q1 (Mar) earnings of $0.27 consensus $0.27; revenues rose 9.0% year/year to $1.12 bln vs the $1.14 bln consensus.
Potash announces three-for-one stock split and 100% dividend increase (181.88 +3.35) : Co announces a a three- for-one stock split of the company's outstanding common shares. Payable in the form of a stock dividend, all shareholders will receive two additional shares for each share owned on the record date of May 22, 2007. Additionally, the Board of Directors approved the doubling of the company's quarterly cash dividend (from $0.15 per share to $0.30 per share on a pre-split basis).
After Hours Summary: CROX up 16.4% on earnings/guidance : Companies moving in after hours trading in reaction to earnings: Trading Up: CROX +16.4%; ONT +15.2%; FSLR +8.2%; MOBE +7.5%; CTLM +6.8%; SRSL +6.6%; SFLY +6.5%; SGTL +6.3%; EXEL +5.9%; UEIC +5.6%; VOXW +5.2%; INAP +5.0%; IDEV +4.2%; RDEN +4.1%; TX +3.3%; NFS +2.6%; NTCT +2.5%; ELY +2.3%; KFN +2.2%; TRAK +2.2%; LF +1.9%; BLKB +1.8%; NBR +1.8%; IDSY +1.7%; MIDD +1.6%; AVNX +1.2%; VRSO +1.1%; WTW +1.0%; EVC +1.0%; SPSX +1.0%... Trading Down: JSDA -16.6%; BBND -13.4%; CRAY -13.0%; GSIG -10.7%; QLGC -7.4%; UDRL -7.1%; DIET -6.9%; BIO -5.6%; BGFV -4.5%; HLTH -4.7%; ADBL -4.4%; CPWM -4.3%; IMOS -3.8%; NBIX -3.7%; BEBE -3.6%; CHK -3.5%; PACR -3.4%; EDS -2.9%;BKHM -2.8%; SIMG -2.5%; UNCA -2.0%; PYX -1.8%; CPHD -1.4%; SDIX -1.3%; NEXT -1.1%; IMMR -1.0%... Companies moving in reaction to news: Trading Up: GEMS +15.9% (6.3% Holder Third Point files SC 13D filing; believes best outcome is for co to promptly commence an auction to sell the co); NFI +14.5% (discloses commitment for a $1.9 bln comprehensive financing facility arranged by Wachovia Capital Markets and certain affiliates); FSLR +7.3% (sees FY07 revs of $370-$400 mln vs $326.97 mln consensus); ICCA +2.8% (Announces Definitive Agreement to Acquire EasyLink Services Corporation); DRIV +2.2% (will replace OSI Restaurant Partners (OSI) in the S&P MidCap 400); SGMO +2.1% (Statistically significant improvements in function in spinal cord injury model with ZFP TF treatment); IDSY +1.7% (announces authorization to repurchase $10 mln shares of common stock); UAUA +1.3% (reports highest ever April passenger load factor); COMV +1.2% (announces 126 megawatt clean energy program with Nevada Power)... Trading Down: SHLD -4.4% (guides below consensus, ex $0.27 gains); ZOOM -1.6% (clarifies potential misunderstanding regarding disclosure in Form 8-K filed May 2, 2007); NNI -1.3% (Statement from Nelnet regarding a subpoena issued to the company by the New York Attorney General today).
SHLD Sears Hldg guides below consensus, ex $0.27 gains (188.32 -0.31)
Co sees Q1 EPS of $1.03-1.26 excluding $0.27 of gains, vs $1.46 consensus. Co announced domestic comparable store sales for the first twelve weeks of the thirteen-week fiscal 2007 first quarter which ends May 5, 2007 for its Kmart and Sears stores. Kmart comparable store sales decreased by 4.7%, primarily due to lower transaction volumes across most businesses. Sears domestic comparable store sales declined by 2.4%, primarily reflecting a reduction in home appliances sales, which the Company believes reflects a slower U.S. housing market and increased competition, partially offset by an improvement in children's apparel sales.
UAUA reports April 2007 traffic up 0.8%
Reports April 2007 load factor of 84.1% versus 82.3% in April 2006. :
FSLR $63.50 R ...reports Q1 EPS 7c vs. consensus estimates of $0.00
FSLR reports Q1 revenue of $66.9 vs. consensus estimates of $52.82
FSLR First Solar sees FY07 revs of $370-$400 mln vs $326.97 mln consensus (57.95 -0.95) -Update-
7:30am April SSS sales 5/10 ...PLCE , GYMB, ANN , JWN , CHS, BEBE , etc etc ...
* MA 108-117-127 reports Q1 earnings of $1.57 per share, $0.41 better than the Reuters Estimates consensus of $1.16; revenues rose 23.9% year/year to $915.1 mln vs the $843.8 mln consensus.
MasterCard Conf Call Summary (125.50 +10.55) -Update : Saying currency fluctuation accounted for 2.5 percentage points of revs increase Y/Y. Saying marketing spending was down because they wanted to keep "their powder dry for later in the year". Saying they don't view the withdrawal of the Belgium Banking Federation collective bargaining position as a setback but rather as a chance to negotiate with each one of those Banks individually. Saying success is not driven by one thing but the whole business seems to be firing on all cylinders right now. Saying their strong presence in Europe gives them a competitive advantage. Saying they look at price increases on a situation by situation basis and don't have any planned right now. Saying that Q1 gross margin shouldnt be extrapolated for the rest of the year implying it will probably be lower. Co doesnt plan on improving margins by reducing costs but rather by increasing transactions and the scalability of the business. They don't see broad-based economic distress coming.
*CME 560-535-509-515 beats by $0.08, top line slightly light (547.40 ) : Reports Q1 (Mar) earnings of $3.69 per share, $0.08 better than the Reuters Estimates consensus of $3.62; revenues rose 32.0% year/year to $332.3 mln vs the $337.2 mln consensus. "During the first quarter, we surpassed volume records in all our products lines, leading to the strongest top-line, quarter-over-quarter growth since 2004 and resulting in record earnings and cash flow..."
Chicago Mercantile: Conference call details I (547.40 ) -Update : On conference call, CME notes that top line growth was the highest they've seen in the last 9 qtrs. FX MarketSpace is tracking ahead of expectations. Client acquisition is ahead of expectations, with 36 customers live on the platform... Notes that electronic energy volume during Q1 increased 63% compared to Q4, ahead of ICE's sequential 20% increase in their energy business. Says that during the quarter, NYMEX total energy volume on Globex exceeded the ICE total energy volume for the first time. Says they continue to build a liquidity advantage over ICE... Notes further progress into the bond mkt with the addition of the exchange traded Lehman Aggregate Index through a 3-year exclusive license, announced yesterday. In May, they will list futures on the China equity mkt... Regarding BOT merger process; co says they remain confident that CME offer is superior. Notes the DOJ review process continues, and they continue to work on the integration plan with BOT counterparts. Notes that the shareholder meeting is set for July 9. If the merger is approved by the shareholders and the DOJ review is completed, the co would still be in position to close in mid-July -- consistent with their original expectations for a mid-2007 close.... Co is averaging 4.9 mln contracts per day so far in April... Q&A is still going on.
* ICE 122-131-127 beats by $0.09, beats slightly on revs (123.50 ) : Reports Q1 (Mar) earnings of $0.80 per share, $0.09 better than the Reuters Estimates consensus of $0.71; revenues rose 151.7% year/year to $126.6 mln vs the $125.3 mln consensus. The record financial results were driven by strong volume during the quarter at ICE Futures, the company's U.K. futures business segment; at NYBOT, ICE's U.S. futures business segment; in ICE's global over-the-counter (OTC) business segment; and in the company's market data business segment, which now includes the NYBOT market data business. ICE's total average daily volume (ADV) for its electronically-traded energy contracts in ICE's global futures and OTC markets exceeded the one-million contract mark for the first time, with ADV of 1.2 million contracts in the first quarter of 2007, representing a 96% increase compared to ADV of 603,000 contracts in the prior year's first quarter. Rate per contract (RPC) for ICE Futures was $1.29 in the first quarter of 2007, compared to $1.13 in the first quarter of 2006.
IntercontinentalExchange: Conference call details I (123.02 ) -Update : On call, ICE says they plan to establish in-house clearing starting in July of 2008. Firm sees clearing as a valuable driver for future growth, especially as the execution venues continue to consolidate. Notes they are exceeding their initial NYBOT synergy/cost savings estimates. Notes that many NYBOT volume records have been beaten through the addition of electronic trading. Notes NYBOT board approved a fee increase, to be implemented beginning in June. Notes they have maintained 50% mkt share of global crude trading, and have record open interest in Brent and WTI. Co will soon offer a third crude benchmark (Middle East sour), set for launch on May 21... Remains highly confident in BOT proposal, and says that they are no less confident in the absence of BOT
NMX 127-125-124 beats by $0.02, beats on revs (129.71 ) : Reports Q1 (Mar) earnings of $0.59 per share, $0.02 better than the Reuters Estimates consensus of $0.57; revenues rose 47.0% year/year to $164.2 mln vs the $161.7 mln consensus. Average daily volume was 1.513 mln contracts during the first quarter 2007, a 40% increase over the first quarter of 2006. "We continue to execute on the aggressive goals we have set since our public offering... During the first quarter, we set volume, revenue, net income and profitability records, resulting in tremendous quarterly performance. Our electronic volumes on the industry-leading CME Globex electronic trading platform hit all-time highs, and we have taken back market share in our energy and metals products. Since January, we have announced and completed important transactions, including a 19% investment in Optionable (OPBL.OB)to enhance our options offering; and a 10% investment in Montreal Exchange Inc., with which we are jointly creating the Canadian Resources Exchange (CAREX) to serve the vast Canadian energy marketplace... We will continue to look at additional acquisitions and strategic investments. Our focus remains on diversification and on expanding the NYMEX brand
AMR's American Airlines reports April Traffic
American Airlines reported an April load factor of 82.1 percent -- an increase of 0.4 points compared to the same period last year. Traffic decreased 3.3 percent year over year as capacity decreased 3.7 percent. Domestic traffic decreased 3.7 percent year over year on 4.3 percent less capacity. International traffic decreased by 2.5 percent relative to last year on a capacity decrease of 2.7 percent. American boarded 8.2 million passengers in April. :theflyonthewall
Hedge fund PAR sells stake in U.S. Airways, for a gain-Barron's Online
From the "Inside Scoop" section: PAR, a Boston-based hedge fund, disclosed Wednesday morning that it had sold 6.75M shares of U.S. Airways (LCC) to UBS Securities the previous day, according to SEC data. The sale lowered PAR's stake in the airline to 0.29% from 7.9%. Earlier this year, PAR sold 6.5M shares to Goldman Sach (GS) in a private deal at $57.81 per share. PAR's cost basis for LCC was $19.25 per share, so it came out well ahead. Ben Silverman, director of research at InsiderScore.com, said PAR did what many others have failed to do: it made a lot of money on an airline stock.
UBS $65 moves to close hedge fund as Q1 net profit falls
http://biz.yahoo.com/bw/070503/20070502006513.html?.v=1
* RIG 86-89 reports $1.77 per share, excluding non-recurring items, $0.33 better than the Reuters Estimates consensus of $1.44; revenues rose 12.0% year/year to $1.33 bln vs the $1.28 bln consensus.
LVS 89-84-86 prelim $0.32 vs $0.31 Reuters consensus, $0.32 First Call; revs $628.2 mln vs $619.62 mln Reuters consensus
Las Vegas Sands: Earnings conf call summary (88.54 +2.92) -Update : Co did not provide guidance (historically they do not)... Major construction of Venetian Macao is finished; both on time and on budget. Same for the Palazzo in Las Vegas... Co says mkt share in Macao remained flat qr/qr, but says that their fair share continues to grow. Says business in Macao is fairly robust and they are keeping pace with it... Co does feel the Sands Macao will feel an effect from the Venetian Macao, but believe it will not be large. Says they will continue to invest in the property and mentioned its superior location; within walking distance from ferry terminal. Adds the economies of scale when both properties are open will help LVS... Co says they have ordered 80 buses from Germany to shuttle their guests from the Venetian Macao to the ferry terminal. Chinese govt has indicated they will allow the co to use a landing area at the terminal... Co says what they are doing in Macao is making other Asian govts take a look (Japan mentioned). Think there are future opportunities, but say these govts are usually conservative and move through the process slowly... Stock is trading ~$86.25 after hours.
02-May-07 17:06 ET In Play Las Vegas Sands on conf call II (88.54 +2.92) -Update : Co does feel the Sands Macao will feel an effect from the Venetian Macao, but believe it will not be large. Says they will continue to invest in the property and mentioned its superior location; within walking distance from ferry terminal. Adds the economies of scale when both properties are open will help LVS.
GSF GlobalSantaFe beats by $0.05; missed on revs (65.24 +0.77)
Reports Q1 (Mar) earnings of $1.28 per share, excluding $0.21 in gains, $0.05 better than the Reuters Estimates consensus of $1.23; revenues rose 33.0% year/year to $903.5 mln vs the $940 mln consensus
MALL $10-$12 reports Q1 EPS of 14c vs consensus of 4c [1 est.]
Reports Q1 revenue of $256.8M versus consensus of $249.6M. [1 estimate.] Note: Unclear if Q1 EPS stat is comparable to consensus
ITWO $26-19-17.30 reports Q1 EPS of 16c vs. consensus of 22c
Reports Q1 revenue of $65.6M vs. consensus of $64.92M.
DIVX $21-$18~17 misses by 3 cents, issues in-line Q2 rev guidance (20.68 +0.52) : Reports Q1 (Mar) earnings of $0.10 per share, $0.03 worse than the Reuters Estimates consensus of $0.13; revenues rose 43.3% year/year to $20.2 mln vs the $19.8 mln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $16.7-18.7 mln vs. $18.25 mln consensus.
before the open look for the following companies to report: ATG, ANPI, WTR, RATE, ABX, BIIB, BBI, CI, CTSH, D, GRMN, ICE, MA, NOVA, POZN, S, SBGI, S, TEVA, RIG, TRW, VPHM, nd WLSC.
* NVTL $18~20-19 beats by $0.05, guides above consensus (18.71 +0.52) : Reports Q1 (Mar) earnings of $0.40 per share, excluding non-recurring items, $0.05 better than the Reuters Estimates consensus of $0.35; revenues rose 173.4% year/year and 43% sequentially to $109.8 mln vs the $101.9 mln consensus. Co issues upside guidance for Q2 (Jun), sees EPS of $0.20-0.22 vs. $0.16 consensus; sees Q2 revs of $90.0 mln vs. $83.2 mln consensus. Co issues upside guidance for FY07, sees EPS of $1.00-1.05 vs. $0.89 consensus; sees FY07 revs of $380-390 mln vs. $369.2 mln consensus
CAL reports April 2007 traffic up 4.8%
Reports April 2007 load factor of 82.3% versus 82.5% in April 2006. Reports April 2007 capacity up 5%.
* BWLD $68-64-$68 reports Q1 EPS 63c vs. consensus of 52c
BWLD reports Q1 revenue $79.9M vs. consensus of $78.45M and Q1 SSS up 8.7%. The company it is confident in achieving annual performance targets of over 15% unit growth, over 20% revenue growth, and over 25% net income growth in 2007. :
BWLD Buffalo Wild Wings Conf Call Summary (64.84 ) -Update-
Saying good NCAA tourney, and a good advertising campaign were responsible for the good results. Saying recent price increases will impact revs by 5.5% going forward. Saying they opened one company owned restaurant in Q1 vs 2 in Q106. Expected chicken wing cost is expected to be $1.25/lb for company owned locations. Dont anticipate meaningful cost increases in 2007 as they have all protein items negotiated through the end of 2007. Saying same store sales improvements are a result of guest hospitality and marketing as well as ramping sales at newer locations. Won't have TV advertising in Q2 but will have radio and community activity. Not giving any clue as to how they will use their excess cash flow going forward. Stock trading at $68
SOHU 26~25~$23 misses by $0.03, guides Q2 EPS below consensus, guides Q2 revs in line (25.52 +0.20)
Reports Q1 (Mar) earnings of $0.12 per share, including option expense that analysts include in their estimates for SOHU, $0.03 worse than the Reuters Estimates consensus of $0.15; revenues fell 3.6% year/year to $33.1 mln vs the $33.7 mln consensus. Co issues downside EPS guidance for Q2, sees EPS of $0.11-0.13, including option expense of $0.06, vs. $0.18 consensus; sees Q2 revs of $35.5-37.5 mln vs. $36.84 mln consensus. CEO comments on outlook, "For the rest of 2007, our catalysts for brand advertising and online games are strong near-term positives. For the longer-term, we continue to devote our efforts to develop our technology, which we believe has not only enhanced our own business but has created an opportunity for us to continue to be a thought leader in the way new technologies change the Internet industry in China."
ATHR $25 Atheros Communications beats by $0.02, ex-items (26.79 -0.76)
Reports Q1 (Mar) earnings of $0.23 per share, excluding non-recurring items, $0.02 better than the Reuters Estimates consensus of $0.21; revenues rose 8.8% year/year to $95.5 mln vs the $94.2 mln consensus.
IVAC $25~$21.50-22 earnings of $0.48 per share, excluding $0.04 in restructuring charges, $0.07 better than the Reuters Estimates consensus of $0.41; revenues rose 53.9% year/year to $76.4 mln vs the $73.5 mln consensus.
IVAC Intevac on Conference Call (24.31 +0.64) -Update-
Co says pricing concerns have dampened spirit of HHD industry; says driving the business with one foot on accelerator and one on the brake so they can meet demand... Sees Q2 revs between $70-75 mln, Reuters consensus is $73.4 mln; expects gross margins of 41-42%; earnings of $0.43-0.44, which includes stock based compensation charges and may not be comparable to the Reuters consensus is $0.50... revs $245-285 mln; shipment of 35-45 200 leans; expects gross margins of 42-43%; op expense of $70-75 mln; expects $1.25-1.65 on a GAAP basis (including stock based compensation) and does not appear to be comparable to the $1.78 Reuters consensus... stock is trading at $21.48 in after hours.
SECTORS :
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Chinese Majors
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Fibre Optics:
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Financial Services
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Fertilizer/Agri
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Oil Drillers /Services
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Oil Refiners
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Precious Metals/Miners
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More Oils Nat Gas & Energy
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RAILS
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Restaurants
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Steels Fabricators
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SEMIS http://finance.yahoo.com/quotes/adi+amd+amat+altr++amkr+asml+brcm+cree+crus+ccmp+cy+csco+cree+cymi+for+intc+issi+klac+lamr+lscc+lrcx+qcom+mrvl+nvls+nok+nvda+silc+sndk+slab+stm++tsm+veco+ter+txn+tqnt+vsea+wfr+xlnx+zran/view/v1
Sofware
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Storage
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$TRAN
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Uranium Stocks
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Truckers
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Water Infrastructure
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Wireless
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Big TEN
Majors http://finance.yahoo.com/q/cq?d=v1&s=+^dji+ba+de+cat+cmi+dow+ir+flr+hees+mon+nue+tm+utx+xom+
US Index ETFS
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World Contry ETFs
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Commodity ETF's List
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World Currency ETF
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Health BioTech
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Natural Resource
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Real Estate ETF
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RARE EARTHs
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Science technology
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Telecom ETF
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Utility
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All ETF Samplings
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