Professional Traders

[dDT]

KKD - Krispy Kreme Reports Financial Results for the Second Quarter of Fiscal 2013

Management Targets High End of Full Year Outlook
PR NewswirePress Release: Krispy Kreme Doughnut Corporation – 31 minutes ago


WINSTON-SALEM, N.C., Aug. 22, 2012 /PRNewswire/ -- Krispy Kreme Doughnuts, Inc. (NYSE: KKD) (the "Company") today reported financial results for the second quarter of fiscal 2013, ended July 29, 2012. The Company also reaffirmed its outlook for the full fiscal year and is targeting the high end of its previously announced range.

Second Quarter Fiscal 2013 Highlights Compared to the Year-Ago Period:

Revenues increased 4.3% to $102.1 million from $98.0 million
Company same store sales rose 5.4%, the fifteenth consecutive quarterly increase
Operating income rose 87% to $9.2 million from $4.9 million
Adjusted net income rose 95% to $8.2 million ($0.12 per share) from $4.2 million ($0.06 per share); adjusted net income and adjusted EPS reflect income tax expense only to the extent currently payable in cash and, in the second quarter of fiscal 2012, exclude the after-tax gain on the sale of the Company's 30% equity interest in KK Mexico; adjusted net income and adjusted EPS are non-GAAP measures (see the reconciliation of GAAP to adjusted earnings in the table accompanying this release)
Net income was $4.9 million ($0.07 per share) compared to $8.8 million ($0.12 per share) in the second quarter last year; net income for the second quarter of fiscal 2013 reflects a substantially higher book income tax rate compared to the second quarter of fiscal 2012 as more fully described below; net income for the second quarter of fiscal 2012 included an after-tax gain on the sale of the Company's 30% equity interest in KK Mexico of $4.7 million ($0.06 per share)
Cash provided by operating activities was $12.6 million compared to $7.6 million in the second quarter last year
The Company completed its $20 million share repurchase in the quarter, purchasing 2,858,000 shares at an average price of $6.35; cumulatively, the Company purchased 3,113,000 shares at an average price of $6.42

The Company ended the second quarter of fiscal 2013 with a total of 711 Krispy Kreme stores systemwide, a net increase of 19 shops during the quarter. As of July 29, 2012, there were 93 Company stores and 618 franchise locations.

President and Chief Executive Officer James H. Morgan commented: "We were very pleased with our quarterly performance, as we drove both solid same store sales growth and increased guest traffic. The top-line momentum translated into significant year-over-year increases in both operating income and adjusted earnings per share. The period was highlighted by our 75th Birthday celebration and by National Doughnut Day, each of which provided consumers another reason to visit Krispy Kreme and create some lasting joyful memories." Morgan continued, "Based on our performance to date, we are reiterating our operating income guidance for the full year of $29 to $33 million, although we now believe the high end of that range is increasingly achievable."

Full Year Outlook

Management expects fiscal 2013 operating income of between $29 and $33 million, compared to $25.6 million in fiscal 2012, and fiscal 2013 adjusted EPS, which includes income tax expense only the extent currently payable in cash, of between $0.36 and $0.42, compared to $0.31 in fiscal 2012; adjusted EPS for fiscal 2012 also excludes the gain on the sale of the Company's 30% equity interest in KK Mexico. Adjusted net income and adjusted EPS are non-GAAP measures (see the reconciliation of GAAP to adjusted earnings in the table accompanying this release).

Management expects fiscal 2013 GAAP EPS of between $0.22 and $0.25, reflecting an estimated tax rate of 45%. The higher tax rate compared to fiscal 2012 is a result of the required reversal of valuation allowances on deferred tax assets in the fourth quarter of fiscal 2012, as described in the Company's March 20, 2012 earnings release and in the Company's annual report on Form 10-K filed on March 30, 2012. Because the Company has substantial net operating loss carryovers, the amount of taxes payable in cash is expected to remain insignificant for the foreseeable future.

The expected range for both fiscal 2013 adjusted and GAAP EPS is $0.01 per share higher than management's previous guidance and reflects the completion of the $20 million share repurchase.

Second Quarter Fiscal 2013 Results

Consolidated Results

For the second quarter ended July 29, 2012, revenues increased 4.3% to $102.1 million from $98.0 million.

Direct operating expenses were unchanged at $85.7 million, but as a percentage of total revenues fell to 83.9% from 87.5%. General and administrative expenses decreased to $4.8 million from $4.9 million in the year-ago period and, as a percentage of total revenues, decreased to 4.7% from 5.0%.

Operating income increased to $9.2 million from $4.9 million.

Adjusted net income was $8.2 million ($0.12 per share) compared to $4.2 million ($0.06 per share) in the second quarter last year. Adjusted net income and adjusted EPS reflect income tax expense only to the extent currently payable in cash and, in the second quarter of last year, exclude the gain on the sale of the Company's 30% equity interest in KK Mexico. Adjusted net income and adjusted EPS are non-GAAP measures (see the reconciliation of GAAP to adjusted earnings in the table accompanying this release).

Net income was $4.9 million ($0.07 per share) compared to $8.8 million ($0.12 per share), in the second quarter last year. Last year's results included an after tax gain of $4.7 million ($0.06 per share) on the sale of the Company's interest in KK Mexico. In addition, net income and EPS for the second quarter of fiscal 2013 reflect a book tax rate of 45% compared to a rate of 12% in the second quarter last year (exclusive of the KK Mexico gain). The increase reflects the reversal of valuation allowances on deferred tax assets in the fourth quarter of fiscal 2012. Accordingly, net income and EPS for the second quarter of fiscal 2013 are not comparable to those for the second quarter of fiscal 2012.

Segment Results

Company Stores revenues increased 5.1% to $69.3 million from $66.0 million. Same store sales at Company stores rose 5.4%, the fifteenth consecutive quarterly increase, and were driven by higher traffic. The Company Stores segment posted operating income of $338,000 compared to an operating loss of $1.0 million in the second quarter last year.

Domestic Franchise revenues rose 3.4% to $2.4 million from $2.3 million, reflecting higher royalties partially offset by lower initial franchise fees. Total sales by domestic franchisees rose 7.3%, while same store sales increased 6.7%. Domestic Franchise segment operating income improved to $1.3 million compared to $216,000 in the second quarter last year. Last year's results included a charge of $820,000 for estimated payments under a lease guarantee related to a franchisee whose franchise agreements were terminated in the second quarter of fiscal 2012.

International Franchise revenues increased 8.0% to $5.8 million from $5.4 million, driven by higher royalty revenues. Sales by international franchise stores rose 7.1%. Adjusted to eliminate the effects of changes in foreign exchange rates, same store sales at international franchise stores fell 10.0%, reflecting, among other things, honeymoon effects from the substantial number of international store openings in recent years, as well as cannibalization as markets develop. The International Franchise segment generated operating income of $4.2 million, up from $3.4 million in the second quarter last year.

KK Supply Chain revenues (including sales to Company stores) rose 2.2% to $51.5 million from $50.3 million in the same period last year. External KK Supply Chain revenues rose 1.3% to $24.6 million from $24.3 million in the year-ago period. KK Supply Chain generated operating income of $8.4 million in the second quarter of fiscal 2013, up from $7.7 million in the second quarter last year. This year's results reflect favorable mark-to-market adjustments on agricultural derivatives of approximately $1.1 million.

Read more ...

[dDT]

PSEC - Prospect Capital Announces 48% Increase in Net Investment Income per Share and $0.47 per Share Increase in Net Asset Value for June 2012 Fiscal Year, Including $0.51 of Net Investment Income per Share in June 2012 Quarter

MarketwirePress Release: Prospect Capital Corporation – 31 minutes ago


NEW YORK, NY--(Marketwire -08/22/12)- Prospect Capital Corporation (PSEC) ("Company" or "Prospect") today announced financial results for our fourth fiscal quarter and fiscal year ended June 30, 2012.

For the June 2012 fiscal year, our net investment income ("NII") was $186.7 million, an increase of 98% from the prior year on a dollars basis. On a weighted average share basis, NII increased from $1.10 for the June 2011 fiscal year to $1.63 for the June 2012 fiscal year, an increase of 48%.

Our net asset value per share on June 30, 2012 stood at $10.83 per share, an increase of $0.47 per share from June 30, 2011, and an increase of $0.01 per share from March 31, 2012.

For the June 2012 quarter, our NII was $64.2 million or $0.51 per weighted average number of shares for the quarter, representing increases of 113% and 66% year-over-year, respectively.

For the June 2011 quarter, our NII was $30.2 million or $0.31 per weighted average number of shares for the quarter.

We are targeting continued growth in NII per share as we utilize prudent leverage to finance our growth through new originations, given our debt to equity ratio stood at less than 44% (and less than 36% after subtraction of cash and equivalents) as of June 30, 2012. We estimate that our net investment income for the current September 2012 quarter will be $0.41 to $0.46 per share.

We have previously announced our upcoming cash distributions, our 49th, 50th, and 51st consecutive cash distributions to shareholders, as follows:

$0.101600 per share for August 2012 (record date of August 31, 2012 and payment date of September 21, 2012);

$0.101625 per share for September 2012 (record date of September 28, 2012 and payment date of October 24, 2012); and

$0.101650 per share for October 2012 (record date of October 31, 2012 and payment date of November 22, 2012).

We have generated cumulative NII in excess of cumulative distributions to shareholders for both (i) the current August 2012 tax year ($173.0 million of NII from September 1, 2011 through June 30, 2012, compared to shareholder distributions of $119.2 million during the same period) and (ii) since Prospect's initial public offering eight years ago.

Our NII per weighted average share exceeded our cash distributions per share in each of the June 2012 quarter, March 2012 quarter, December 2011 quarter, and June 2012 fiscal year. Depending on future distributions to shareholders, spillback dividend classifications, differences between NII and investment company taxable income, and other factors, we may retain significantly all or a portion of recent realizations and reinvest them in additional income-producing investments.

Based on past distributions and assuming its current share count for upcoming distributions, Prospect since inception through its October 2012 distribution will have distributed more than $10.40 per share to original shareholders and $530 million in cumulative distributions to all shareholders.

HIGHLIGHTS

Equity Values:
Net assets as of June 30, 2012: $1.512 billion
Net asset value per share as of June 30, 2012: $10.83

Fiscal Year Operating Results:
Net investment income: $186.68 million
Net investment income per share: $1.63
Dividends to shareholders per share: $1.21695

Fourth Fiscal Quarter Operating Results:
Net investment income: $64.23 million
Net investment income per share: $0.51
Dividends to shareholders per share: $0.304575

Fourth Fiscal Quarter Portfolio and Investment Activity:
Portfolio investments in quarter: $573.31 million
Total Portfolio investments at cost at June 30, 2012: $2.099 billion
Number of portfolio companies at June 30, 2012: 82

Read more ...

[PoemStone]

HPQ 10-Q/3 results.
http://ih.advfn.com/p.php?pid=nmona&article=53913672

HP (NYSE: HPQ) today announced financial results for its third fiscal quarter ended July 31, 2012. For the quarter, net revenue of $29.7 billion was down 5% year over year and down 2% when adjusted for the effects of currency.

GAAP loss per share was $4.49, down from earnings per share (EPS) of $0.93 in the prior-year period. Non-GAAP diluted EPS was $1.00, down 9% from the prior-year period. Third quarter non-GAAP earnings information excludes after-tax costs of $10.8 billion, or $5.49 per diluted share, related to the amortization and impairment of purchased intangible assets, the impairment of goodwill, restructuring charges, acquisition-related charges and charges relating to the wind-down of certain retail publishing business activities, including the previously announced charges related to the impairment of goodwill within HP's Services segment, the restructuring program announced in May 2012, and the impairment of the purchased intangible asset associated with the "Compaq" trade name.

"HP is still in the early stages of a multi-year turnaround, and we're making decent progress despite the headwinds," said Meg Whitman, HP president and chief executive officer. "During the quarter we took important steps to focus on strategic priorities, manage costs, drive needed organizational change, and improve the balance sheet. We continue to deliver on what we say we will do."

Business Group Results
•Personal Systems Group (PSG) revenue was down 10% year over year with a 4.7% operating margin. Commercial revenue decreased 9%, and Consumer revenue declined 12%. Desktop units were down 6%, notebook units were down 12% and total units were down 10%.
•Imaging and Printing Group (IPG) revenue declined 3% year over year with a 15.8% operating margin. Commercial hardware revenue and units were up 4% year over year. Consumer hardware revenue was down 13% year over year with a 23% decline in printer units.
•Services revenue declined 3% year over year with an 11.0% operating margin. Technology Services revenue was down 1% year over year, Application and Business Services revenue was flat, and IT Outsourcing revenue declined 6% year over year.
•Enterprise Servers, Storage and Networking (ESSN) revenue declined 4% year over year with a 10.9% operating margin. Networking revenue was up 6%, Industry Standard Servers revenue was down 3%, Business Critical Systems revenue was down 16%, and Storage revenue was down 5% year over year.
•Software revenue grew 18% year over year with an 18.0% operating margin, including the results of Autonomy. Software revenue was driven by 2% license growth, 16% support growth, and 65% growth in services.
•HP Financial Services revenue was flat year over year as the 2% increase in net portfolio assets was offset by a 2% decrease in financing volume. The business delivered a 10.4% operating margin.

Asset Management

HP generated $2.8 billion in cash flow from operations in the third quarter. Inventory ended the quarter at $7.3 billion, with days of inventory up 1 day year over year to 29 days. Accounts receivable of $15.7 billion was down 4 days year over year to 48 days. Accounts payable ended the quarter at $12.6 billion, down 4 days from the prior-year period to 50 days. HP's dividend payment of $0.132 per share in the third quarter resulted in cash usage of $260 million. HP also utilized $365 million of cash during the quarter to repurchase approximately 16.5 million shares of common stock in the open market. HP exited the quarter with $9.9 billion in gross cash.

Outlook

For fiscal 2012, HP now estimates non-GAAP diluted EPS to be in the range of $4.05 to $4.07, at the low end of the previously provided outlook.

HP now estimates its fiscal 2012 GAAP loss per share to be in the range of $2.23 to $2.25.

Full year fiscal 2012 non-GAAP diluted EPS estimates exclude after-tax costs of approximately $6.30 per share, related primarily to the amortization and impairment of purchased intangible assets, the impairment of goodwill, restructuring charges and acquisition-related charges.

More information on HP's quarterly earnings, including additional financial analysis and an earnings overview presentation, is available on HP's Investor Relations website at www.hp.com/investor/home.

HP's Q3 FY12 earnings conference call is accessible via an audio webcast at www.hp.com/investor/2012q3webcast.

[PoemStone]

GWR. SeekingAlpha: I want to highlight a small railroad that has a great track record of growth: Genesee & Wyoming, Inc. (GWR). Although it is a small railroad, GWR has high potential for above-average stock growth, perhaps enough to surpass the growth of the larger railroads.

Genesee & Wyoming started out as a 14-mile railroad with one customer in upstate New York. The company now has over 10,000 miles of track serving over 800 customers in five countries. GWR operates short line and regional railroads in the United States, Canada, Australia, the Netherlands, and Belgium.

In July, the company entered into an agreement to acquire RailAmerica, Inc. (RA), a $1.38 billion small-cap railroad. This acquisition will combine the largest U.S. short line regional railroad operators. After the merger is complete, the United States will account for 70% of GWR's revenue. Australia will account for 20% of the company's revenue, while Canada will account for 10%.

GWR is currently fairly valued with a forward PE ratio of 17.85, a PEG of 1.22, and a price to book ratio of 2.5. It has a profit margin of 14.64% and an operating margin of 22.17%. For the past twelve months, the company has hauled in $212.34 million in operating cash flow.

The most compelling thing about GWR is its earnings growth. For the past five years, the company has grown earnings annually at 16.28%. The company is expected to grow earnings annually at a healthy 17.87% for the next five years. This growth rate should be enough of a catalyst to allow a $10,000 investment to be worth over $22,000 in five years. If this growth rate is maintained, your investment could double approximately every four years.

http://seekingalpha.com/article/821031-build-substantial-wealth-with-genesee-wyoming-railroad

Golden Cross at hand.

[Charles Living]

Following in Dell's footsteps performance wise for the PPS? Only time will tell :)

[Charles Living]

End of Day Tankers:

EGI (-15.48%)

EXPR (-11.12%)

FGP (-11.08%)

NEXS (-26.49%)

PPHM (-16.48%)

PSID (-12%)

UCTT (-10.45%)

[PoemStone]

HPQ reporting tonight. Analylists think all depends on cost savings by Meg and the outlook. 9 billion loss already expected.

[Charles Living]

More Easing Warranted Unless Economy Improves: Fed

Published: Wednesday, 22 Aug 2012
By: Reuters

The Federal Reserve is likely to deliver another round of monetary stimulus "fairly soon" unless the economy improves considerably, minutes from the central bank's August meeting show.

While the meeting was held before a recent improvement in the economic data, including a stronger-than-expected July reading for U.S. employment, policymakers were pretty categorical about their dissatisfaction with the current outlook.

Following the release, U.S. stocks pared losses, and U.S. Treasury debt prices extended price gains.

"Many members judged that additional monetary accommodation would likely be warranted fairly soon unless incoming information pointed to a substantial and sustainable strengthening in the pace of the economic recovery," the Fed said in minutes to its July 31-Aug. 1 meeting.

Fed officials saw significant risks to an already weak U.S. economy, which grew at a sluggish 1.5 percent annual rate in the second quarter. The risks include a worsening of Europe's financial strains and the looming U.S. budget cuts and tax hikes, which have become commonly known as the fiscal cliff.

Many Fed officials supported extending the central bank's guidance for the likely timing of an eventual interest rate hike, currently set at late 2014, further into the future. But they decided to defer the decision to the Fed's Sept. 12-13 meeting, when the central bank will release a new round of economic forecasts.

Officials also actively debated and tested the possibility of developing a consensus Fed forecast.

A couple of policymakers favored lowering the rate the Fed pays banks to park their excess reserves at the central bank, currently at 0.25 percent. But several participants worried that money market funds could run into trouble if their returns are crimped further.

[Charles Living]

Thanks for keeping us updated Dan :)

[dDT]

Update ...

Symbol %Change Last High Change

LPHI +12.64% 1.96 2.07 +0.22
ALC +9.36% 8.1801 8.25 +0.7001
ARNA +8.05% 8.72 8.73 +0.65
ITMN +6.92% 8.03 8.07 +0.52
CAS +6.59% 12.46 13.16 +0.77
DATE +6.02% 4.58 4.58 +0.26
CNTF +5.31% 1.19 1.27 +0.06
INOD +5.09% 3.92 3.92 +0.19
CTRP +4.97% 15.85 15.89 +0.75
AUO +4.23% 3.20 3.22 +0.13
ALXA +4.22% 4.20 4.34 +0.17
NOK +3.99% 2.87 2.89 +0.11
ARO +2.69% 13.00 13.04 +0.34
TROX +2.57% 27.15 27.19 +0.68
ARX +2.48% 6.62 6.65 +0.16
ANR +2.32% 7.0599 7.25 +0.1599
CRIS +2.02% 4.05 4.11 +0.08

[dDT]

> Update ...

Symbol %Change Last High Change

LPHI +12.07% 1.95 1.98 +0.21
ALC +8.96% 8.15 8.21 +0.67
CAS +6.76% 12.48 13.16 +0.79
ARNA +5.33% 8.50 8.65 +0.43
ITMN +5.19% 7.90 7.97 +0.39
INOD +4.56% 3.90 3.90 +0.17
AUO +4.56% 3.21 3.22 +0.14
CNTF +4.43% 1.1801 1.27 +0.0501
DATE +4.17% 4.50 4.55 +0.18
NOK +4.17% 2.875 2.89 +0.115
ALXA +2.73% 4.14 4.34 +0.11
ARO +2.37% 12.96 13.04 +0.30
ANR +2.25% 7.055 7.25 +0.155
STRI +2.06% 3.46 3.53 +0.07
CRIS +2.02% 4.05 4.06 +0.08

[Charles Living]

Existing Home Sales Rise 2.3 Percent on Pent-Up Demand

Published: Wednesday, 22 Aug 2012
By: Reuters

U.S. existing home sales rose 2.3 percent in July to 4.47 million from 4.37 million in the previous month but missed analysts' estimates, according to the National Association of Realtors.

"It's pretty much in line with market forecasts," said Omer Esiner, chief analyst at Commonwealth Foreign Exchange. "It's encouraging to see the inventory of unsold homes come down and median price continue to rise, though I think there are technical issues involved in that. The homes that are selling tend to be higher in price, which is skewing that a bit."

Monthly sales increased in every region but the West, where housing inventory is tight. Sales were just below analysts' expectations of a 4.52 million-unit rate.

“Mortgage interest rates have been at record lows this year while rents have been rising at faster rates," said Lawrence Yun, the association's chief economist. "Combined, these factors are helping to unleash a pent-up demand.”

Nationwide, the median price for a home resale was $187,300 in July, 9.4 percent higher than in the same month a year earlier.

The report’s embargo, which was set to lift at 10 a.m. EST, was broken about 30 minutes before when a reporter at Bloomberg gained access to an invisible computer link from the association and Tweeted the data early.

The association’s chief economist said there will be an investigation into how this link was accessed.

[Charles Living]

SRZ (+59%) Health Care REIT to buy Sunrise Senior Living in deal valued at about $1 billion

Associated Press

TOLEDO, Ohio (AP) -- Health Care REIT Inc., a real estate investment trust, plans to buy Sunrise Senior Living Inc. in an all-cash deal valued at about $1 billion.

The Toledo, Ohio-based company said Wednesday it will pay $14.50 for each share of Sunrise, which is based in McLean, Va. The price represents a premium of more than 62 percent to Sunrise's closing stock price of $8.93 on Aug. 21.

Sunrise shares climbed $5.28, or more than 59 percent, in morning trading to $14.22. The stock had previously traded in a range of $3.68 to $9 in the past 52 weeks...

[Charles Living]

LPHI (+12%) Now that's a bounce!

[Charles Living]

KTCC (+22.72%) Year-over-Year Revenue Up 36% and Net Income Up 103%
Continued New Customer Wins and Revenue Diversification

SPOKANE VALLEY, Wash.--(BUSINESS WIRE)--

Key Tronic Corporation (KTCC), a provider of electronic manufacturing services (EMS), today announced its results for the quarter and year ended June 30, 2012.
For the fourth quarter of fiscal 2012, Key Tronic reported total revenue of $96.7 million, up 46% from $66.0 million in the same period of fiscal 2011. For the full year of fiscal 2012, total revenue was a record $346.5 million, up 36% from $253.8 million in fiscal 2011...

[Charles Living]

WSTLA (-14.05%) Wet Seal Suffers Loss on Lower Sales

By Zacks Equity Research

Wet Seal Inc. (WTSLA) reported second quarter fiscal 2012 loss of 7 cents per share compared to year-ago quarter’s earnings of 3 cents per share. The loss was in line with the Zacks Consensus Loss Estimate, but was narrower than management’s guidance range of a loss of 9 cents to 10 cents. The loss resulted from a decline in sales and margins...

[Charles Living]

UCTT (-10.15%) Ultra Clean Holdings shares tumble on lower revenue outlook, lost business from major customer

Associated Press

NEW YORK (AP) -- Shares of Ultra Clean Holdings Inc. lost more than 20 percent before the opening bell after the semiconductor equipment maker cut its revenue outlook for the current quarter.
The Hayward, Calif., company, which makes machines used by semiconductor companies to produce chips, said a decline in demand it reported last month is worse than it anticipated. It's also lost business from a major customer.
At that time, when it reported second-quarter results, the company predicted third-quarter earnings per share of 10 to 14 cents on revenue of $107 million to $112 million...

[Charles Living]

RJET (-7.68%) Evercore Partners downgraded shares of Republic Airways Holdings Inc. (RJET) from an overweight rating to an equal weight rating.

[Charles Living]

PPHM (-16.13%) Peregrine: Bavi Results Are Overhyped And Inconclusive

Seeking Alpha August 22, 2012
http://seekingalpha.com/article/821601-peregrine-bavi-results-are-overhyped-and-inconclusive?source=yahoo

We think Peregrine Pharmaceuticals (PPHM) is highly overvalued, following its 500% run-up over the past two months on what we consider to be overhyped and inconclusive Phase II results for its cancer drug Bavituximab, also known as Bavi. The recent massive stock price increase for PPHM is highly unjustified and we think that the company is worth much less than the $300 million market capitalization it is currently valued at.

In our opinion, investors are assigning an overly inflated valuation to an unproven Phase II drug with an unusual mechanism of action on a substantially incomplete subset of data...

[Charles Living]

EXPR (-8.4%) Express cuts full-year profit outlook, shares fall

Associated Press

COLUMBUS, Ohio (AP) -- Express posted a 25 percent jump in net income for the second quarter, but shares plunged 11 percent after the clothing retailer slashed its profit outlook for the year and said that same-store sales barely rose last quarter and it expects about the same for the rest of the year.
Revenue for the second quarter also fell short of Wall Street expectations.
Express Inc. earned $15.8 million, or 18 cents per share, compared with $12.6 million, or 14 cents per share, in the prior-year period...

[Charles Living]

DELL (-7%) Dell Forecast Misses Estimates

By Aaron Ricadela - Aug 22, 2012 6:44 AM PT

Dell Inc. (DELL) declined the most in three months after cutting this year’s profit forecast as revenue from corporate customers fails to counter shrinking personal computer sales.
The company yesterday forecast third-quarter revenue that missed analysts’ estimates and cut its profit outlook by 20 percent, as competition from Apple Inc. (AAPL)’s iPad and an anemic global economic recovery drags down PC demand...

[dDT]

TOL - 5:10AM Toll Brothers beats by $0.19, beats on revs; guides FY12 revs in-line based on delivery/ASP assumptions (TOL) 31.81 : Reports Q3 (Jul) earnings of $0.36 per share, $0.19 better than the Capital IQ Consensus Estimate of $0.17; revenues rose 40.6% year/year to $554.3 mln vs the $508.52 mln consensus. Co issues in-line guidance for FY12, sees FY12 revs of $1.71-1.84 bln vs. $1.77 bln Capital IQ Consensus Estimate. Co currently estimates to deliver between 800-1,000 homes in FY12's fourth quarter at an average price of between $570,000-590,000 per home. Also reports homebuilding deliveries of 963 units rose 41% in dollars and 39% in units, compared to FY11'sthird quarter. Net signed contracts of $674.4 mln and 1,119 units rose 66% in dollars and 57% in units, compared to FY11's third quarter. Backlog of $1.62 bln and 2,559 units rose 59% in dollars and 44% in units, compared to FY11's third-quarter-end backlog. The average price of homes delivered was $576,000, compared to $557,000 in FY12's second quarter and $569,000 in FY11's third quarter. Co stated: "We are enjoying the most sustained demand we've experienced in over five years...We believe the housing recovery is being driven by pent-up demand, very low interest rates and attractively priced homes...We do, however, remain cautious in our optimism as we believe consumer confidence remains fragile and subject to the impact of negative economic and political headlines."

Toll Brothers Reports FY 2012 3rd QTR and 9 Month Results

Click here ...

[dDT]

EXPR closed yesterday at $16.90 - trading $15.30 pre-market

[dDT]

EXPR - Express, Inc. Reports an Increase in Second Quarter Net Sales and Net Income

-- Achieves twelfth consecutive quarter of increased comparable sales
-- Second quarter diluted EPS increases to $0.18, at high-end of guidance
-- Quarter end inventory aligned with sales growth
-- Revises guidance for full year 2012
PR NewswirePress Release: Express, Inc. – 1 hour 21 minutes ago

COLUMBUS, Ohio, Aug. 22, 2012 /PRNewswire/ -- Express, Inc. (EXPR), a specialty retail apparel chain operating more than 600 stores, today announced its second quarter 2012 financial results for the thirteen and twenty-six week periods ended July 28, 2012, which compares to the same period ended July 30, 2011.

Michael Weiss, Express, Inc.'s Chairman, President, and Chief Executive Officer commented: "Our second quarter results included an increase in net sales, positive comparable sales, and disciplined expense management, which combined, offset increased promotional activity in the latter part of the quarter and drove earnings per diluted share to the high end of our guidance. We continued to focus on our growth pillars during the quarter, opening new stores and maintaining double digit growth in e-commerce. We were also pleased with the progress against our international growth pillar. To that end, we entered into our third international franchise agreement, this one in Mexico. We also firmed up the timing of our U.S. flagship locations in Times Square in New York and Union Square in San Francisco. We expect these flagship locations, scheduled to open by the fall of 2013, to serve as international gateways for our brand. We ended the quarter with a strong balance sheet that included $130.2 million in cash, even after investing $50 million to repurchase 2.7 million shares of our common stock. Additionally, inventory was aligned with sales growth. As we begin the second half of the year, we believe it is prudent to set our guidance more conservatively and in line with the trend we experienced in the second quarter. We remain confident in our strategies and expect the disciplined execution against our growth pillars to result in another year of growth for Express."

Second Quarter Operating Results:

Net sales increased 2% to $454.9 million from $446.0 million in the second quarter of 2011;
Comparable sales increased 1%, following a 6% increase in comparable sales in the second quarter of 2011;
Gross margin was 32.2% of net sales compared to 33.6% in the second quarter of 2011;
Selling, general, and administrative (SG&A) expenses totaled $115.3 million, or 25.3% of net sales, compared to $117.7 million, or 26.4% of net sales, in the second quarter of 2011;
Operating income was $31.2 million, or 6.9% of net sales, compared to $31.7 million, or 7.1% of net sales, in the second quarter of 2011;
Interest expense totaled $4.8 million compared to $10.5 million in the second quarter of 2011, which included a $3.7 million loss on extinguishment of debt associated with the repurchases of $24.2 million of Senior Notes and the amendment of the $200 million Revolving Credit Facility;
Income tax expense was $10.4 million, at an effective tax rate of approximately 39.6%, compared to $8.6 million, at an effective tax rate of approximately 40.6%, in the second quarter of 2011; and
Net income was $15.8 million, or $0.18 per diluted share. This compares to net income of $12.6 million, or $0.14 per diluted share, in the second quarter of 2011, which included a $2.2 million, or $0.03 per diluted share, after tax loss on extinguishment of debt associated with the repurchases of $24.2 million of Senior Notes and the amendment of the $200 million Revolving Credit Facility. Net income in the second quarter of 2011 adjusted for non-core operating costs noted above was $14.9 million, or $0.17 per diluted share (see Schedule 4 for discussion of non-GAAP measures).

Twenty-Six Week Operating Results:

Net sales increased 4% to $950.8 million from $913.4 million in the prior year period;
Comparable sales increased 2%, following a 7% increase in comparable sales in the prior year period;
Gross margin was 35.3% of net sales compared to 35.9% in the prior year period;
SG&A expenses totaled $229.5 million, or 24.1% of net sales, compared to $227.2 million, or 24.9% of net sales, in the prior year period;
Operating income increased 4.5% to $105.8 million, or 11.1% of net sales, compared to $101.2 million, or 11.1% of net sales, in the prior year period;
Interest expense totaled $9.6 million compared to $21.5 million in the prior year period, which included a $7.2 million loss on extinguishment of debt associated with the repurchases of $49.2 million of Senior Notes and the amendment of the $200 million Revolving Credit Facility;
Income tax expense was $38.3 million, at an effective tax rate of approximately 39.8%, compared to $32.0 million, at an effective tax rate of approximately 40.2%, in the prior year period; and
Net income was $57.9 million, or $0.65 per diluted share. This compares to net income of $47.6 million, or $0.54 per diluted share, in the prior year period, which included the following non-core operating costs after tax: (i) $0.3 million, or $0.01 per diluted share, of costs related to the secondary offering completed in April 2011; and (ii) $4.3 million, or $0.04 per diluted share, loss on extinguishment associated with the repurchases of $49.2 million of Senior Notes and the amendment of the $200 million Revolving Credit Facility. Net income in the prior year period adjusted for non-core operating costs noted above was $52.3 million, or $0.59 per diluted share (see Schedule 4 for discussion of non-GAAP measures).

Second Quarter Balance Sheet Highlights:

Cash and cash equivalents decreased $14.4 million and totaled $130.2 million compared to $144.6 million at the end of the second quarter of 2011, primarily driven by $50 million of cash used to repurchase 2.7 million shares of the Company's common stock in the second quarter of 2012;
Inventories were $210.4 million, an increase of 1.4%, compared to $207.4 million at the end of the second quarter of 2011. Inventory per square foot decreased slightly compared to 2011; and
Debt declined by $119.7 million to $198.7 million compared to $318.4 million at the end of the second quarter of 2011 driven by the $119.7 million prepayment of the $125 million Opco Term Loan outstanding balance in 2011.

Real Estate:

During the second quarter of 2012, the Company opened 8 new stores, including 1 in Canada, and closed 3 stores. At quarter end, the Company operated 611 stores and had approximately 5.3 million gross square feet in operation.

2012 Guidance:

Third and Fourth Quarter:

The Company currently expects third quarter 2012 comparable sales to be flat to up low single digits compared to an increase of 5% in the third quarter of 2011. The effective tax rate is expected to be approximately 41% for the third quarter of 2012. Net income is expected in the range of $23.0 million to $28.0 million, or $0.27 to $0.32 per diluted share on 86.4 million weighted average shares outstanding. This compares to net income of $32.7 million, or $0.37 per diluted share, in the third quarter of 2011. The Company expects to open 8 new stores in the third quarter, including 7 stores in the United States and 1 store in Canada, and close 1 store to end the quarter with 618 stores and approximately 5.3 million gross square feet in operation.

Based on third quarter 2012 and full year 2012 guidance, this implies fourth quarter 2012 net income guidance in the range of $67.0 million to $71.0 million, or $0.77 to $0.82 per diluted share on 86.6 million weighted average shares outstanding. This compares to adjusted net income of $62.1 million, or $0.70 per diluted share, in the fourth quarter of 2011.

Full Year:

The Company is revising its 2012 guidance and currently expects full year comparable sales to increase low single digits compared to an increase of 6% in 2011. The effective tax rate is expected to be between 39.9% and 40.1% for the full year 2012. Earnings for the fifty-three week period in 2012 are expected in the range of $1.69 to $1.79 per diluted share on 87.6 million weighted average shares outstanding. This compares to adjusted earnings of $1.66 per diluted share in 2011 (see Schedule 4 for a discussion of non-GAAP measures). The Company notes that 2012 is a fifty-three week period compared to a fifty-two week period in 2011 and expects the fifty-third week impact to be in the range of $0.04 to $0.05 per diluted share. The Company now plans to open 28 new stores in 2012, including 23 in the United States and 5 in Canada, and close 12 stores in the United States, to end the year with 625 locations and approximately 5.4 million gross square feet in operation. Consistent with previous years, this guidance excludes any non-core operating items that may occur, such as debt extinguishment costs.

Conference Call Information:

A conference call to discuss second quarter results is scheduled for August 22, 2012, at 9:00 a.m. Eastern Daylight Time (EDT). Investors and analysts interested in participating in the call are invited to dial [phone] approximately ten minutes prior to the start of the call. The conference call will also be webcast live at: http://www.express.com/investor and remain available for 90 days. A telephone replay of this call will be available at 12:00 p.m. EDT on August 22, 2012 until 11:59 p.m. EDT on August 29, 2012 and can be accessed by dialing [phone] and entering replay pin number 398130.

Read more ...

[dDT]

CHS - Chico's FAS, Inc. Reports Record Second Quarter and First Half Results

-- 28% increase in second quarter earnings per share to a record $0.32
-- 14th consecutive quarter of double digit EPS growth
-- 5.6% comparable sales increase in second quarter, a 2-year stack of 18.4%
PR NewswirePress Release: Chico's FAS, Inc. – 1 hour 2 minutes ago

FORT MYERS, Fla., Aug. 22, 2012 /PRNewswire/ -- Chico's FAS, Inc. (CHS) today announced its financial results for the fiscal 2012 second quarter and twenty-six weeks ended July 28, 2012.

(Logo: http://photos.prnewswire.com/prnh/20110920/FL71045LOGO )

For the second quarter, the Company reported net income of $53.4 million, an increase of 23% compared to net income of $43.4 million in last year's second quarter and record earnings per diluted share of $0.32, an increase of 28% compared to $0.25 per diluted share in last year's second quarter.
For the twenty-six weeks ended July 28, 2012, the Company reported record net income of $107.0 million, an increase of 20% compared to net income of $89.3 million in the same period last year and record earnings per diluted share of $0.64, an increase of 25% compared to $0.51 per diluted share in the same period last year.

Net Sales

For the second quarter, net sales were $641.7 million, an increase of 16.4% compared to $551.4 million in last year's second quarter, reflecting comparable sales growth of 5.6%, square footage increase of 7.4%, and sales for Boston Proper of $32.6 million. The 5.6% increase in comparable sales for the second quarter was on top of a 12.8% increase in last year's second quarter, for a two-year stack of 18.4%, and reflected increases in both average dollar sale and transaction count. The Company's comparable sales growth primarily reflected the effectiveness of the Company's innovative marketing plans, a positive customer response to the Company's merchandise offering and new product launches.

The Chico's/Soma Intimates brands' comparable sales increased 7.2% on top of an 11.9% increase in last year's second quarter for a two-year stack of 19.1%, and the White House | Black Market ("WH|BM") brand's comparable sales increased 2.3% on top of a 14.9% increase in last year's second quarter for a two-year stack of 17.2%.

Gross Margin

For the second quarter, gross margin was $362.2 million, an increase of 17.1% compared to $309.3 million in last year's second quarter. As a percentage of net sales, gross margin was 56.4%, a 30 basis point improvement from last year's second quarter, primarily reflecting increased full-price selling and effective promotional activities, partially offset by the inclusion of Boston Proper's results.

Selling, General and Administrative Expenses

For the second quarter, selling, general and administrative expenses ("SG&A") were $276.1 million compared to $240.4 million in last year's second quarter. As a percentage of net sales, SG&A was 43.0%, a 60 basis point improvement from last year's second quarter, primarily reflecting the sales leverage impact on store expenses and the inclusion of Boston Proper's results.

Inventories

At the end of the second quarter, total inventories were $191.7 million compared to $190.7 million in the second quarter last year. Excluding $12.6 million related to Boston Proper, inventories decreased by $11.6 million or 6.1%, reflecting planned inventory reductions.

Share Repurchase Program

During the second quarter of fiscal 2012, the Company repurchased 1.8 million shares for $25.6 million under its $200 million share repurchase program announced in November 2011, with $149.4 million remaining under the program as of the end of the second quarter. For the four quarter period ended July 28, 2012, the Company repurchased 9.0 million shares for $110.6 million.

Outlook

As a result of the Company's record first half results, the Company is updating its planning assumptions for fiscal 2012. The new planning assumptions are:

Net sales of approximately $2.55 billion to $2.6 billion, which includes comparable store growth at a mid-single digit percent;
Gross margin rate of approximately flat to 2011;
SG&A expense, as a percentage of net sales, down approximately 50 basis points to 2011;
One-time acquisition and integration costs for Boston Proper of approximately $4 million pre-tax;
Effective tax rate of approximately 38%;
Weighted average diluted shares of approximately 165 million, excluding any potential future impact of share repurchases;
Inventory increase in-line with sales growth; and
Capital expenditures of approximately $155 million, reflecting an additional $5 million for Boston Proper initiatives, including new stores in early fiscal 2013 and system integration costs.

A conference call to review the second quarter is scheduled for today at 8:30 a.m. EDT. A live webcast of the call can be accessed at the Events Calendar page of the Chico's FAS, Inc. corporate website, www.chicosfas.com.

Read more ...

[dDT]

AEO - American Eagle Outfitters Reports 62% Increase in Second Quarter EPS

Sales Increase 11% to Record $740 Million on Comp Growth of 9%
Business WirePress Release: American Eagle Outfitters, Inc. – 12 minutes ago

PITTSBURGH--(BUSINESS WIRE)--

American Eagle Outfitters, Inc. (AEO) today announced income from continuing operations increased 62% to $0.21 per diluted share for the second quarter ended July 28, 2012, compared to $0.13 per diluted share for the comparable quarter last year. Due to the closure of the 77kids business, results are presented as discontinued operations for all periods and are further discussed below. Net income for the second quarter, which includes a loss from discontinued operations, was $0.09 per diluted share, compared to $0.10 per diluted share last year.

Robert Hanson, chief executive officer stated, “While pleased with our results, and therefore raising our annual outlook, we continue to drive for long-term performance improvement through fortifying our brands, further strengthening our products, marketing and customer experience, enhancing operational disciplines and pursuing growth across North America."

Non-GAAP Second Quarter Results – Continuing Operations (Excluding 77kids)

The following discussion of second quarter results excludes Non-GAAP adjustments comprised of tax benefits and restructuring costs as presented in the accompanying GAAP to Non-GAAP reconciliation.

Net sales increased 11% to a record $740 million, compared to $669 million last year.
Comparable store sales, including AE Direct, increased 9%, compared to a 1% increase last year.
Gross profit increased 17% to $277 million, or 37.4% as a rate to sales, compared to $236 million, or 35.3% as a rate to sales, last year. Decreased product costs and markdowns led to a 120 basis point improvement in the merchandise margin. Buying, occupancy and warehousing costs improved 90 basis points due to strong sales.
Selling general and administrative expense of $178 million, which excludes $4 million of restructuring costs, improved 40 basis points to 24.0%, compared to 24.4% last year.
Excluding restructuring costs, operating income increased 76% to $67 million. The operating margin expanded to 9.1% compared to 5.7% last year.
Adjusted EPS from continuing operations of $0.21 compared to $0.13 last year, a 62% increase. Results exclude restructuring costs of $0.02 per diluted share, offset by $0.02 per diluted share of tax benefits.

Read more ...

[PoemStone]

Thanks, dDT.

[dDT]

Big Boards - Top Losers Tue Aug 21 - Source: finviz.com

[ 10%+ losers ]

CFBK Central Federal Corp. 1.61 -31.49%
ENG ENGlobal Corp. 0.79 -28.64%
AMCN AirMedia Group Inc. 1.89 -17.47%
IMUC ImmunoCellular Therapeutics, Ltd. 2.43 -16.49%
CHC China Hydroelectric Corporation 1.07 -11.57%
CIS Camelot Information Systems Inc. 2.00 -10.31%

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[PoemStone]

IART. shares outstanding as of July 27, 2012 was 27,033,216.
10-Q 7/31/12

Rings Nasdaq closing bell Wednesday, August 22, 2012 – 3:45 p.m. to 4:00 p.m. ET
http://ih.advfn.com/p.php?pid=nmona&article=53894545

[dDT]

Big Boards - Top Gainers Tue Aug 21 - Source: finviz.com

Top 25 charts posted.

20%+ gainers

SPMD SuperMedia LLC 3.64 41.09%
LPHI Life Partners Holdings, Inc. 1.74 32.82%
DEXO Dex One Corporation 1.63 31.45%
CAS AM Castle & Co. 11.69 26.79%

10%-20% gainers

URBN Urban Outfitters Inc. 36.98 18.22%
DAKT Daktronics Inc. 9.43 17.00%
ASTX Astex Pharmaceuticals, Inc. 2.77 15.42%
AUMN Golden Minerals Company 5.47 15.16%
MVIS Microvision Inc. 2.27 13.50%
CPRX Catalyst Pharmaceutical Partners Inc. 1.64 13.10%
LONG eLong Inc. 15.95 11.46%
NDSN Nordson Corporation 61.07 11.04%
ADEP Adept Technology Inc. 4.42 10.50%

5%-10% gainers

SKX Skechers USA Inc. 21.39 9.75%
VRNG Vringo, Inc. 3.75 9.33%
SGRP Spar Group Inc. 1.80 9.09%
FRP Fairpoint Communications, Inc. 6.33 8.95%
BCDS BCD Semiconductor Manufacturing Limited 3.90 8.94%
PSUN Pacific Sunwear of California Inc. 2.18 8.46%
EVEP EV Energy Partners LP 59.10 8.36%
REXX Rex Energy Corporation 13.07 8.20%
REED REEDS, Inc. 6.75 8.11%
OCZ OCZ Technology Group, Inc. 5.76 8.07%
LCC US Airways Group, Inc. 11.42 7.84%
ELOQ Eloqua, Inc. 14.20 7.58%
MUX McEwen Mining Inc. 3.98 7.57%
THM International Tower Hill Mines Ltd. 3.14 7.53%
FSLR First Solar, Inc. 24.14 7.48%
AXU Alexco Resource Corporation 3.76 7.43%
AZC Augusta Resource Corp. 2.76 7.39%
RIC Richmont Mines Inc. 4.10 7.33%
BAA Banro Corporation 4.27 7.29%
TAHO Tahoe Resources Inc. 17.62 7.24%
XRA Exeter Resource Corporation 1.78 7.23%
ZN Zion Oil & Gas, Inc. 2.23 7.21%
GPL Great Panther Silver Ltd 1.94 7.18%
TSL Trina Solar Limited 5.18 7.02%
GPRE Green Plains Renewable Energy, Inc. 4.92 6.96%
BONT Bon-Ton Stores Inc. 7.97 6.84%
HSOL Hanwha SolarOne Co., Ltd 1.10 6.80%
CBLI Cleveland BioLabs, Inc. 1.59 6.71%
HUSA Houston American Energy Corp. 1.12 6.67%
MPG MPG Office Trust, Inc. 3.25 6.56%
ELON Echelon Corporation 3.59 6.53%
HOLI Hollysys Automation Technologies, Ltd 9.80 6.52%
IVC Invacare Corporation 14.44 6.49%
GURE Gulf Resources, Inc. 1.16 6.42%
HEES H&E Equipment Services Inc. 18.60 6.29%
MVG Mag Silver Corp. 10.02 6.26%
AVL Avalon Rare Metals Inc. 1.87 6.25%
ANR Alpha Natural Resources, Inc. 6.90 6.15%
GMCR Green Mountain Coffee Roasters Inc. 25.83 6.12%
WLB Westmoreland Coal Co. 7.94 6.01%
HMY Harmony Gold Mining Co. Ltd. 9.53 6.01%
XIDE Exide Technologies 3.38 5.96%
JRCC James River Coal Co. 2.72 5.84%
TSPT Transcept Pharmaceuticals, Inc. 5.65 5.81%
GSM Globe Specialty Metals, Inc. 14.96 5.80%
QCOR Questcor Pharmaceuticals, Inc. 40.87 5.80%
SVM Silvercorp Metals Inc. 5.84 5.80%
HCKT The Hackett Group, Inc. 4.02 5.79%
CTRP Ctrip.com International Ltd. 15.10 5.74%
ONXX Onyx Pharmaceuticals, Inc. 71.68 5.72%
LVB Steinway Musical Instruments Inc. 25.82 5.39%
DSW DSW Inc. 64.50 5.34%
BONE Bacterin International Holdings, Inc. 1.58 5.33%
EGO Eldorado Gold Corp. 12.55 5.29%
ZLC Zale Corporation 3.84 5.21%
GRZ Gold Reserve Inc. 3.84 5.21%
GIII G-III Apparel Group, Ltd. 29.46 5.14%
FXEN FX Energy Inc. 8.02 5.11%
CHD Church & Dwight Co. Inc. 55.75 5.11%
PLCM Polycom, Inc. 10.13 5.08%
TC Thompson Creek Metals Company Inc. 2.69 5.08%
OWW Orbitz Worldwide, Inc. 2.90 5.07%
VGZ Vista Gold Corp. 3.14 5.02%

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[dDT]

Update

Symbol %Change Last High Change

DEXO +45.16% 1.80 1.92 +0.56
LPHI +18.33% 1.55 1.60 +0.2401
DAKT +16.75% 9.41 10.09 +1.35
URBN +16.02% 36.29 37.65 +5.01
AMWD +14.42% 20.87 22.00 +2.63
CAS +13.99% 10.51 10.77 +1.29
AUMN +8.68% 5.1622 5.20 +0.4122
AXU +8.00% 3.78 3.86 +0.28
YGE +7.14% 2.10 2.10 +0.14
HEES +6.91% 18.71 19.45 +1.21
ANR +6.85% 6.945 6.99 +0.445
LCC +5.19% 11.14 11.19 +0.55
LDK +4.61% 1.5901 1.60 +0.0701
MM +4.29% 11.43 11.78 +0.47
IDIX +4.00% 6.24 6.24 +0.24
ARX +3.85% 6.47 6.49 +0.24
AUQ +3.79% 6.85 6.88 +0.25
NOK +3.26% 2.8397 2.85 +0.0897
MPO +3.12% 8.25 8.32 +0.25
STRI +2.86% 3.60 3.62 +0.10
FN +2.84% 13.75 14.20 +0.38
NFLX +2.80% 66.04 66.08 +1.80
ADTN +2.77% 22.98 22.98 +0.62
BPZ +2.73% 2.445 2.48 +0.065
VELT +2.72% 7.93 8.04 +0.21
ACOR +2.50% 23.8199 23.88 +0.5799
LEAP +2.49% 6.58 6.70 +0.16
SREV +2.46% 9.16 9.19 +0.22
MTG +2.46% 1.25 1.25 +0.03
MIG +2.42% 7.62 7.63 +0.18
WPP +2.25% 9.55 9.60 +0.21
PAAS +2.20% 17.18 17.38 +0.37
OCZ +2.16% 5.445 5.50 +0.115
ANF +2.07% 37.00 37.00 +0.75
EZCH +2.04% 32.195 32.31 +0.645

[Charles Living]

Morning tankers...not many :)

BBY (-6.72%)

IMUC (-17.53%)

VHC (-3.18%)

WAVX (-9.82%)

[dDT]

Early movers ...

Symbol %Change Last High Change

DEXO +40.32% 1.74 1.89 +0.50
DAKT +18.73% 9.57 10.09 +1.51
URBN +17.20% 36.66 37.65 +5.38
AMWD +15.13% 21.00 22.00 +2.76
CAS +13.77% 10.49 10.70 +1.27
LPHI +10.60% 1.4487 1.51 +0.1388
YGE +7.14% 2.10 2.10 +0.14
HEES +7.09% 18.74 19.45 +1.24
AXU +6.12% 3.7142 3.73 +0.2142
MM +5.11% 11.52 11.78 +0.56
LDK +4.47% 1.588 1.60 +0.068
LCC +3.79% 10.991 11.01 +0.401
ANR +3.23% 6.71 6.75 +0.21
IDIX +3.17% 6.19 6.22 +0.19
VELT +3.11% 7.96 8.04 +0.24
MPO +2.88% 8.23 8.30 +0.23
FN +2.69% 13.73 14.20 +0.36
STRI +2.57% 3.59 3.59 +0.09
NOK +2.55% 2.82 2.82 +0.07
MTG +2.46% 1.25 1.25 +0.03
PAAS +2.38% 17.21 17.38 +0.40
EZCH +2.12% 32.22 32.31 +0.67
BPZ +2.10% 2.43 2.48 +0.05
ACOR +2.07% 23.72 23.74 +0.48

[Charles Living]

Best buy misses big and halts guidance; shares take a tumble (-6.72%).

[Charles Living]

Morning! Markets and commodities are soaring today :)

[PoemStone]

I'd take a flyer at MNOV this morning if my cash position were
there, intact, still existing.

Well now, that is one of the advantages of trading quickly
isn't it.

Food for thought.

[PoemStone]

OnWatch MNOV. After-close. MediciNova Enters Into a $20 Million Common Stock Purchase Agreement With Aspire Capital Fund
http://ih.advfn.com/p.php?pid=nmona&article=53885955

net loss reduced 50%.
http://ih.advfn.com/p.php?pid=nmona&article=53777238

16,163,565 shares of Common Stock ($0.001 par value) outstanding.
10/Q 8/9/12
http://ih.advfn.com/p.php?pid=nmona&article=53776468

[dDT]

Good morning ...

[PoemStone]

MidnightTrader's After Hours Watch List: DWA, FN, NDSN, URBN, ZOOM
BY MidnightTrader 5:23 PM ET 08/20/2012

[MiamiGent]]
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=78733485

05:23 PM EDT, 08/20/2012 (MidnightTrader) -- Here are some of the stocks moving in after-hours trading worth watching in Friday's regular session.

DWA, +4.1%: Announced a new five-year distribution agreement with Twentieth Century Fox, a division of News Corp. (NWSA).
http://stockcharts.com/h-sc/ui?s=DWA

FN, +7.0%: Post total Q4 2012 revenue of $142.8 million, a decrease of 25% compared to total revenue of $190.3 million for Q4 2011. Non-GAAP net income for the period was $10.7 million, or $0.31 per diluted share, a decrease of 39% compared to non-GAAP net income of $17.5 million, or $0.50 per diluted share, Q4 2011.
http://stockcharts.com/h-sc/ui?s=FN

NDSN, +14.6%: Reported Q3 adjusted earnings of $1.06 a share, beating expectations of $0.99 per share. It also raised its Q4 guidance. Revenue grew 22% to $380 million, topping the analyst consensus of $357 million, according to Capital IQ.
http://stockcharts.com/h-sc/ui?s=NDSN

URBN, +16.6%: Reported Q2 sales of $676 mln, vs. the analyst consensus of $671 mln on Capital IQ. EPS was $0.42, vs. expectations of $0.33 per share.
http://stockcharts.com/h-sc/ui?s=URBN

ZOOM, +8.3%: Post Q2 revenue of $98.6 mln, up from $57.6 mln in the year ago quarter. Income was $0.4 mln, down from $1.5 mln in the year ago quarter.
http://stockcharts.com/h-sc/ui?s=ZOOM

[dDT]

Big Boards - Top Losers Mon Aug 20 - Source: finviz.com

[ 10%+ losers ]

LPHI Life Partners Holdings, Inc. 1.31 -33.17%
SWSH Swisher Hygiene Inc. 1.68 -18.84%
CERE Ceres, Inc. 7.56 -16.09%
ASX Advanced Semiconductor Engineering Inc. 3.67 -13.85%
AZC Augusta Resource Corp. 2.57 -13.76%
ZAGG ZAGG Inc. 7.30 -13.30%
IMH Impac Mortgage Holdings Inc. 4.25 -13.09%
OIBR Oi SA 3.74 -12.41%
ELLI Ellie Mae, Inc. Common Stock 25.13 -12.07%
BBY Best Buy Co. Inc. 18.16 -10.41%

http://stockcharts.com/c-sc/sc?s=LPHI&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=SWSH&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=CERE&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=ASX&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=AZC&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=ZAGG&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=IMH&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=OIBR&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=ELLI&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=BBY&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

[dDT]

Big Boards - Top Gainers Mon Aug 20 - Source: finviz.com

Top 20 charts posted.

20%+ gainers

WLBC Western Liberty Bancorp 3.82 34.07%
CVH Coventry Health Care Inc. 42.04 20.32%
RPRX Repros Therapeutics Inc. 10.98 15.22%
JKS JinkoSolar Holding Co., Ltd. 2.78 14.88%
ACUR Acura Pharmaceuticals Inc. 1.82 13.75%
LDK LDK Solar Co., Ltd. 1.52 13.43%
HDSN Hudson Technologies Inc. 3.70 11.45%
STRM Streamline Health Solutions, Inc. 4.80 11.16%
ADEP Adept Technology Inc. 4.00 11.11%
TPGI Thomas Properties Group Inc. 5.47 10.73%
CIDM Cinedigm Digital Cinema Corp. 1.25 9.65%
QIHU Qihoo 360 Technology Co. Ltd 20.21 9.01%
MEG Media General, Inc. 4.92 8.61%
NLST Netlist Inc. 1.71 8.23%
DRRX DURECT Corporation 1.08 8.00%
REED REEDS, Inc. 6.24 7.96%
NSPH Nanosphere, Inc. 3.60 7.78%
ZN Zion Oil & Gas, Inc. 2.08 7.77%
DMND Diamond Foods, Inc. 19.75 7.63%
VELT Velti Plc 7.72 7.52%
FOR Forestar Group Inc. 13.49 7.06%
MTSL MER Telemanagement Solutions Ltd. 2.40 6.67%
VRS Verso Paper Corp. 1.61 6.62%
UNIS Unilife Corporation 3.22 6.62%
HCII Homeowners Choice, Inc. 21.96 6.60%
AERL Asia Entertainment & Resources Ltd. 3.88 6.59%
OPTT Ocean Power Technologies, Inc 2.51 6.36%
DRYS DryShips, Inc. 2.37 6.28%
UBNT Ubiquiti Networks, Inc. 9.19 6.24%
PHMD PhotoMedex, Inc 11.60 6.13%
SOL ReneSola Ltd. 1.75 6.06%
TISA Top Image Systems Ltd. 4.40 6.02%
KERX Keryx Biopharmaceuticals Inc. 2.12 6.00%
SSRI Silver Standard Resources Inc. 13.29 5.90%
NRGY Inergy, L.P. 20.86 5.83%
OXF Oxford Resource Partners, L.P. 9.08 5.83%
GFA Gafisa S.A. 3.84 5.79%
NTE Nam Tai Electronics, Inc. 7.00 5.74%
UAL United Continental Holdings, Inc. 19.45 5.71%
DLIA dELiA*s, Inc. 1.49 5.67%
FSLR First Solar, Inc. 22.46 5.64%
AET Aetna Inc. 40.18 5.63%
ONCY Oncolytics Biotech Inc. 3.23 5.56%
MILL Miller Energy Resources, Inc. 4.67 5.42%
ENZ Enzo Biochem Inc. 1.60 5.26%
KOOL ThermoGenesis Corp. 1.21 5.22%
CHC China Hydroelectric Corporation 1.21 5.22%
GVA Granite Construction Incorporated 28.07 5.21%
SREV ServiceSource Corporation 8.94 5.18%
MNKD MannKind Corp. 2.47 5.11%
ROYL Royale Energy Inc. 2.27 5.09%
LCC US Airways Group, Inc. 10.59 5.06%
FB Facebook, Inc. 20.01 5.04%
SSYS Stratasys Inc. 71.98 5.02%

http://stockcharts.com/c-sc/sc?s=WLBC&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=CVH&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=RPRX&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=JKS&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=ACUR&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=LDK&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=HDSN&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=STRM&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=ADEP&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=TPGI&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=CIDM&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=QIHU&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=MEG&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=NLST&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=DRRX&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=REED&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=NSPH&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=ZN&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=DMND&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

http://stockcharts.com/c-sc/sc?s=VELT&p=D&yr=0&mn=6&dy=0&i=p85310988516&a=270624201&r=1342041056464

[Charles Living]

It looks like the financials are doing well. Analysts are expecting them to tread higher in the second half of the year.

[PoemStone]

WFC. Wells Fargo & Company Declares Cash Dividends on Preferred Stock
http://ih.advfn.com/p.php?pid=nmona&article=53881942

[Charles Living]

The Worst Day for the Market is...

Published: Sunday, 19 Aug 2012
NEW YORK - It's not just in your head. Mondays really are the worst.

Monday is the only day the stock market is more likely to fall than to rise. The Dow Jones industrial average has been down 10 of the past 11 Mondays. And the two worst days in market history are both known as Black Monday.

There's no single reason why Mondays are so blue. Then again, there's no single reason the market rises or falls on any given day, driven as it is by the whims of traders placing millions of individual buy and sell orders.

Some anecdotal evidence comes to mind: Companies are prone to release bad news on Friday nights, when fewer people are paying attention. Monday is the first day investors can react.

And when companies collapse, they often do it late Sunday or early Monday, after spending a last weekend trying to stay afloat. See Wachovia, Bear Stearns and, most famously, Lehman Brothers investment bank, on Sept. 15, 2008.

Maybe people are just grumpier. They are at least more anxious: The so-called Vix, a gauge of investor fear, tends to go up on Mondays, notes Ryan Detrick, senior technical strategist for Schaeffer's Investment Research in Cincinnati.

The Vix has risen on two-thirds of this year's Mondays. On Tuesdays, the second-most-anxious day, the Vix was up just 58 percent of the time.

Or maybe it's a fluke — another pattern people latch on to, to make the market seem more understandable, same as the stories that hemlines go up in bull markets, or that stocks rise if a team from the NFC wins the Super Bowl.

Burton Malkiel wrote about those last two theories in his finance classic, "A Random Walk Down Wall Street." He stuck them in a section called "A Gaggle of Other Technical Theories to Help You Lose Money."

He found the "blue Monday" phenomenon equally underwhelming. "Far from dependable," he says, and "most likely due to chance..."

[dDT]

SREV

[dDT]

... coming to you

[Charles Living]

Best Buy Taps New CEO as Takeover Battle Heats Up

Published: Monday, 20 Aug 2012
By: Reuters

Best Buy [BBY down -7%] named Carlson executive Hubert Joly as chief executive on Monday, hoping to tap his expertise in restructuring companies to turn around the world's largest consumer electronics chain.

The struggling retailer also said its founder Richard Schulze has turned down an offer from the board to conduct due diligence in connection with his proposal to take the company private at a valuation of more than $8 billion.

Best Buy, engaged in a takeover battle with founder Richard Schulze, has posted same-store sales declines in seven of the last eight quarters. It is expected to report results for the latest quarter on Tuesday.

Joly, former CEO of privately held hospitality and travel company Carlson, replaces interim CEO Mike Mikan. Joly is expected to step into his role as president and CEO in early September when his visa is secured, Best Buy said.

Joly led the restructuring and growth of Vivendi’s video game business — now part of Activision Blizzard [ATVI 11.81 -0.29 (-2.4%) ] — from 1999 to 2001.

He also drove the turnaround of EDS — now part of Hewlett Packard [HPQ 19.73 0.21 (+1.08%) ] — in France from 1996 to 1999, Best Buy said.

Mikan was named interim CEO following the abrupt departure of CEO Brian Dunn in April during a personal conduct probe that eventually found he had engaged in an improper relationship with a female employee.

Schulze, the 71-year-old former chairman of Best Buy, informed the board earlier this month he was interested in teaming up with private equity partners to buy the company for $24 to $26 per share, or more than $8 billion.

Schulze Declined Due Diligence Deal

The struggling retailer also said Schulze has turned down an offer from the board to conduct due diligence in connection with his proposal to take the company private.

The consumer electronics chain said its board had authorized its advisors to start talks with Schulze, and had shown "great flexibility" on structuring an agreement that would not limit his ability to make a definitive proposal.

Schulze has noted., however, that obstacles to making an official bid include a provision of Minnesota law that would prevent him from bringing in private-equity firms and his inability to access the company's financial data.

Best Buy said on Sunday it had offered Schulze a proposal that would have given him 60 days to put together a deal for the company, and would have also have given him the opportunity to take a buyout offer directly to shareholders from January.

"Mr. Schulze did not accept the company proposal," it said in a statement.

A source familiar with Schulze said the executive and his team were "shocked" by the Best Buy statement because they thought they were still in talks with the company over an agreement on due diligence.

A spokesman for Schulze could not be immediately reached.

Best Buy said the board's proposal would have given Schulze a waiver of Minnesota law so that he could develop a definitive proposal.

It said it asked Schulze to agree to "certain protections for Best Buy and its shareholders, with the goal of limiting outside distractions", in exchange for opening its books. It did not detail the conditions.

The retailer has previously called Schulze's proposal "highly conditional" and asked him to name his still undisclosed private-equity partners.

Schulze, who owns about a fifth of Best Buy's shares, has said he plans to fund a deal through a combination of investments from private equity firms, reinvestment of about $1 billion of his own equity, and debt financing.

Last week, Schulze sent the company's board a second letter saying he would be persistent in stalking Best Buy.

"I still hope to work with the board on a mutually beneficial transaction — but you should know that I am not going away," Schulze wrote.

Schulze resigned from the company's board in June and said he was exploring options for his ownership stake. He lost the chairmanship after a probe by a board committee found he had failed to tell the board about allegations of personal misconduct by Dunn.

Best Buy has been closing stores, cutting jobs, and trying out a new store format to improve business. It has faced criticism for being too slow to react to a changing retail world, where many use Best Buy as a "showroom" to try out gadgets and then buy them online or elsewhere for less.

Best Buy shares [BBY 18.90 -1.37 (-6.76%) ] closed on Friday at $20.27.

[Charles Living]

Yes Yes, I know...why did I sell APPL (have a sell target at $640) when I know if it hits that this early, it will go higher since there's still plenty of time for a run up until iPhone 5...simple! Majority of my funds was in AAPL and I needed to put that into another company that yields better gains.

My opinion, if you don't have anything else better to buy, hold APPL for $700+.

[dDT]

LOL ... g/m Charles ! Never know

[Charles Living]

Stocks Open Lower After Six Weeks of Gains

Published: Monday, 20 Aug 2012
By: JeeYeon Park

Stocks opened slightly lower Monday as investors appeared to take a breather following the recent stealth rally that propelled the Dow and S&P 500 near four-year highs.

Still, hopes of further bond buying by the ECB helped limit losses...