DRIV $33.50~ $36+.....reports Q4 EPS ex-items 35c vs. consensus est of 31c DRIV reports Q4 rev $61.6M vs. consensus est of $57.15M. Guides Q1 EPS ex-items 40c vs. consensus est of 37c and Q1 rev $70M vs. consensus est of $62.55M. Sees 2006 EPS ex-items $1.53 vs. consensus est of $1.43 and 2006 rev $280M vs. consensus est of $250M.
HAL $33~29~31 beats by $0.03, ex items (32.68 -1.47) : Reports Q2 (Jun) earnings of $0.52 per share, excluding $0.04 charge, $0.03 better than the Reuters Estimates consensus of $0.49; revenues rose 11.5% year/year to $5.54 bln vs the $5.35 bln consensus.
Halliburton downgraded to Add from Buy at Calyon (33.04 ) : Calyon downgrades HAL to Add from Buy and cuts their tgt to $45 from $50 saying they previously believed that KBR's I.P.O would provide a positive catalyst for the shares. However, the firm says the poor performance at KBR in 2Q06 creates serious questions about the marketability of the unit, Halliburton, stumped on IPO, plans to shed unit in a spinoff - WSJ (30.04 ) : WSJ reports the co, facing unexpected problems with the initial public offering of its Kellogg Brown & Root unit, says it will take steps to separate the unit in a tax-free spinoff to shareholders within nine months. The co was facing the prospect of trying to interest investors in K.B.R. while having to explain why the unit incurred a $41 mln operating loss in the second quarter and had to take a $40 mln to $45 mln charge to earnings because of the Nigeria construction problems. The co said it would pursue the separation as soon as the Internal Revenue Service ruled whether the transaction would be tax-free, which would take six to nine months
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