More Warnings Week Jul 12-16 followed by
Weak Earnings Guidance Week Jul 19-23
Legg Mason- (FDC) Reit "Buy" We have modeled that the company will report 2Q04 EPS of $0.52 EPS, which is $0.01 below the Street consensus. We continue to believe that 2004 will be an integration year and, as such, earnings estimates will likely be cluttered with multiple charges throughout the year. Total consolidated revenue is expected to increase 26% y/y, to $2.7 billion driven by growth in its Western Union (up 16.1% y/y) and merchant services businesses (up 47% y/y) as a result of the contribution from CE acquisition.
BearS (UIS) Reit "Peer Perform" UIS joined the long list of technology companies pre-announcing weak results for the June quarter. Unisys will come up short on the top and bottom line in the second quarter. The company cited unexpected deferrals of certain enterprise server contracts and deferrals and delays on service projects late in the quarter. The unexpected weakness was primarily in the U.S. and Latin America.
Wedbush (NDN) Reit "Buy" NDN reported Q2 comps of -2.5%, slightly better than company guidance of -3% to -4%. Total sales increased 14.6% to $237.3 million in-line with guidance for sales of $235-$238 million. Comps were negatively impacted by the shorter Easter selling season, late store deliveries and out-of-stocks created primarily by overcapacity issues at the Los Angeles distribution center as well as aggressive promotions by Southern CA grocers and higher gas prices. same issues at WFMI.
H&Q - (UTSI) Downgrade to Hold from Buy Earlier this quarter UTStarcom announced its intention to acquire the Handset Division of Audiovox Communications Corporation (ACC) for $165.1 million in cash. The acquisition provides UTStarcom with an entree into the high-growth CDMA handset market in North and South America. However, we feel that the integration of ACC introduces significant incremental execution risk into the Company's operating model, and severely limits visibility into intermediateterm margin performance. We expect shares of UTSI will remain in a trading range as investors gauge management's ability to enhance the margin profile of the CDMA handset business over the next few quarters. Therefore, we are downgrading shares of UTSI from BUY to HOLD.
Wedbush-(NNBR) Reit Buy NN Inc. today announced a shortfall in estimated earnings for the second quarter and full year. The company now expects 2Q EPS of $0.11-$0.12 and full year EPS of $0.60-$0.63. We are reducing our EPS estimate for the quarter from $0.19 to $0.12 and for the full year from $0.77 to $0.62. We are also reducing our EPS estimate for 2005 from $0.93 to $0.90.
Barrington: Barrington Research Associates, Inc.
Weak Retail Chain Store Sales in June:
Confirming recent weekly reports, comparable sales of retail chain stores were weak for the full month of June, adding to other evidence that the economic recovery was slowing toward the end of the second quarter. The ICSC chain store index was up just 2.9% for the month, for the weakest growth in about a year and down from the 5.7% May increase. The final results were also below ICSC's forecast of a 3%-3.5% increase. Total sales including new stores were up 8.1%, but that was the weakest result in a year. The weak performance was due to a combination of depressing factors in the current year and the difficult comparison with strong year ago sales as retail spending was rebounding from the ill effects of the Iraq war ramp-up. As we've been reporting on weekly retail sales trends, these comparisons have been increasingly difficult in the last couple of months and will get even worse in July.
AI
Market Data 
Markets 
