SAN FRANCISCO – Among the companies whose shares are expected to see active trading in Tuesday's session are Cisco Systems Inc., Harrah's Entertainment Inc., and BMC Software Inc.
Cisco Systems Inc. (CSCO) is expected to report fourth-quarter earnings of 35 cents a share, according to a survey of analysts by Thomson Financial.
Dean Foods Co. (DF) is expected to post earnings of 31 cents a share for the second quarter.
Duke Energy Corp. (DUK) is expected to report second-quarter earnings of 20 cents a share.
Fluor Corp. (FLR) is expected to post earnings of 95 cents a share for the second quarter.
Harrah's Entertainment Inc. (HET) is expected to report second-quarter earnings of 98 cents a share.
Interpublic Group Of Cos. (IPG) is expected to post earnings of 10 cents a share for the second quarter.
Marsh & McLennan Cos. (MMC) is expected to report second-quarter earnings of 36 cents a share.
Molson Coors Brewing Co. (TAP) is expected to post earnings of $1.72 a share for the second quarter.
PG&E Corp. (PCG) is expected to report second-quarter earnings of 66 cents a share.
TXU Corp. (TXU) is expected to post earnings of $1.17 a share for the second quarter.
After Monday's closing bell, BMC (BMC) said its first-quarter profit nearly doubled compared to the same period a year earlier, while its profit outlook for the full fiscal year has been raised to a higher-than-anticipated level.
Also, drugmaker Pfizer Inc. (PFE) said it has enough products in its pipeline that it can meet its goal of tripling the company's Phase III portfolio of potential products by 2009.
Acadia Pharmaceutical Inc.'s (ACAD) second-quarter loss narrowed to $10.8 million, or 29 cents a share, from a year-earlier loss of $11.9 million, or 43 cents a share. The San Diego biopharmaceutical company said collaborative revenue increased to $2.06 million from $1.88 million.
A.C. Moore Arts & Crafts Inc. (ACMR) reported a second-quarter net loss of $343,000, or 2 cents a share, compared with $1.77 million, or 9 cents a share, during the year-ago period. The Berlin, N.J.-based retailer said revenue for the three months ended June 30 fell to $124.4 million from $129.8 million.
Bank regulators ordered American Express Bank International, a subsidiary of American Express Corp. (AXP) , to pay $65.0 million in fines for violations of anti-money laundering laws. According to the Federal Reserve, one of the regulators involved in Monday's action, "AEBI had significant breakdowns in carrying out its [Bank Secrecy Act] compliance activities, and, as a result, failed to establish and maintain procedures adequately designed to ensure and monitor AEBI's compliance with the BSA and related laws and regulations."
Array BioPharma Inc.'s (ARRY) fiscal fourth-quarter loss widened to $17.3 million, or 39 cents a share, from a year-earlier loss of $12 million, or 31 cents a share. The Boulder, Colo., biopharmaceutical company said revenue for the period ended June 30 fell 21 percent to $8 million from $10.1 million on lower collaboration revenue.
Blackbaud Inc.'s (BLKB) second-quarter earnings rose 7.3 percent to $8.2 million, or 19 cents a share, from $4.76 million, or 17 cents a share, a year earlier. Revenue increased 32 percent to $64 million from $48.6 million a year ago.
Blue Nile Inc.'s (NILE) fiscal second-quarter net income rose to $3.78 million, or 23 cents a share, from $3.13 million, or 18 cents a share, a year earlier. Net sales for the Seattle-based online jewelry retailer rose 27 percent to $72.1 million for the period ended July 1 from $56.9 million.
Cedar Shopping Centers Inc.'s (CDR) second-quarter net income grew 19 percent to $4.91 million, or 7 cents a share, from a year-earlier profit of $4.12 million, or 7 cents a share, when there were fewer shares outstanding. The Port Washington, N.Y. real estate investment trust's revenue grew to $36.9 million, from nearly $30 million a year earlier.
Clearwire Corp. (CLWR) reduced its net losses in the second quarter as revenue surged amid growth in subscribers. After Monday's closing bell, the provider of high-speed wireless Internet services reported a net loss of $118.1 million, or 72 cents a share, for the second quarter compared to net losses of $76.8 million, or $1.01 a share, for the same period last year. Revenue surged 130 percent to $35.5 million.
Conseco Inc.'s (CNO) second-quarter net loss widened to $59.9 million, or 38 cents a share, from $22.3 million, or 21 cents a share, a year earlier. Results from the most recent period include 6 cents a share of net realized investment losses. The Carmel, Ind., insurance holding company's revenue increased 8 percent to $1.17 billion from $1.08 billion in the year-ago period.
Dell Inc. (DELL) said Monday it would acquire Zing Systems Inc., a privately held developer of consumer software and services company. Dell said it would use Zing's technology to "continue improving the entertainment experiences it provides its customers." Financial terms weren't disclosed and a closing date for the deal wasn't set.
DreamWorks Animation SKG Inc. (DWA) said that DW Investment II Inc., controlled by Paul Allen, will sell about 10 million Class A shares of the animation studio, and that Allen will resign from the board. The reduced position by the investment firm in DreamWorks comes amid a rebalancing of the Vulcan Capital portfolio, said Allen in a statement released by Dreamworks. The company also said its board has increased the size of a share buyback plan, to repurchase about $150 million of DW Investment's Class A stock.
Dun & Bradstreet Corp.'s (DNB) second-quarter net income jumped 68 percent to $87.6 million, or $1.46 a share, from $52.2 million, or 79 cents a share, a year earlier, driven by a $31.2 million gain from its resolved legacy tax matter. The Short Hills, N.J., business information, data and services company said revenue increased 8 percent to $396.8 million from $367.4 million.
El Paso Corp. (EP) said the initial public offering of a pipeline master limited partnership is scheduled for the fourth quarter. The Houston-based natural gas and related energy provider intends to file a registration statement with the Securities and Exchange Commission for the offer and sale of about $500 million common units. The company noted the offering is larger than it originally disclosed at its February 2007 analyst meeting.
Shares of giant mortgage-buyers Fannie Mae (FNM) and Freddie Mac (FRE) jumped Monday after Fannie reportedly asked its federal regulator to increase the amount of mortgages the company may hold in its portfolio. Fannie says the move would provide more liquidity in the mortgage market, the Wall Street Journal reported in its online edition, citing people familiar with the matter. See full story.
Standard & Poor's said it will add Gulf Island Fabrication Inc. (GIFI) to the S&P SmallCap 600 index Wednesday, replacing K2 Inc., which is being acquired by Jarden Corp. Pioneer Drilling Co. (PDC) will replace Inter-Tel Inc. in the SmallCap 600 index on a date to be announced.
HealthExtras Inc. (HLEX) reported second-quarter net earnings of $8.2 million, or 19 cents a share, up 42 percent from $5.78 million, or 14 cents a share, during the year-ago period. Excluding charges, earnings were $10.2 million or 24 cents a share. The Rockville, Md.-based pharmacy-benefit management company said revenue for the three months ended June 30 rose to $421 million from $273 million.
I2 Technologies Inc.'s (ITWO) second-quarter net income fell 17 percent to $2.32 million, or 6 cents a share, from $2.8 million, or 8 cents a share, a year earlier. The Dallas supply chain optimization company said revenue rose to $65 million from $64.7 million.
Introgen Therapeutics Inc.'s (INGN) second-quarter net loss widened to $7.75 million from $7.69 million a year earlier. On a per-share basis, the Austin, Texas, drug manufacturer's loss narrowed to 18 cents a share from 21 cents a share a year earlier. Introgen's revenue fell 16 percent to $82,000 from $98,000.
Komag Inc. (KOMG) reported a second-quarter loss of $21 million, or 72 cents a share, compared to a profit of $40.3 million, or $1.21 a share a year ago. Revenue fell 20% to $187.2 million from last-year's sales of $233.6 million. Komag said its finished-disk shipments fell 29% from a year ago as the company said it dealt with pressure on unit volumes and the average selling prices of hard-disks. Komag is in the process of being acquired by Western Digital Corp. and the deal is expected to close in third quarter of this year.
Maxim Integrated Products Inc. (MXIM) named Bruce Kiddoo vice president of finance, and will assume the chief financial officer title following the company's restatement. Kiddoo succeeds Carl Jasper as chief financial officer, who resigned in January in connection with an investigation of Maxim's stock-option practices.
Mentor Corp.'s (MNT) fiscal first-quarter earnings declined to $21.7 million, or 48 cents a share, from a year-earlier profit $241.4 million, or $4.91 a share. The year-earlier period included earnings from discontinued operations of $4.58 a share. The Santa Barbara, Calif. medical products company's net sales increased 20% to $95.6 million from $79.4 million.
Mindray Medical International (MR) said second-quarter net earnings were 156.5 million yuan ($20.6 million), or 1.40 yuan (18 cents) a share, up from 96.4 million yuan, or 1.05 yuan a year ago. Total revenue was 561.5 million yuan ($73.8 million), up from 358.4 million yuan, last year. Excluding certain items, the medical product maker's earnings would have been 174.9 million yuan, or 1.56 yuan a share.
Novatel Wireless Inc.'s (NVTL) second-quarter earnings jumped, boosted by worldwide demand for 3G wireless broadband access products. The San Diego-based communications company had second-quarter earnings of $7.96 million, or 25 cents a share, compared with $95,000, or less than 1 cent a share, a year earlier. Novatel said revenue for the quarter more than doubled, rising to $97.4 million from $45.7 million a year ago.
Parkway Properties Inc.'s (PKY) second-quarter net income rose to $19.24 million, of $1.14 a share, from year-earlier earnings of $19.16 million, or $1.20 a share. Revenue increased 15% to $61.5 million from $53.3 million. The Jackson, Miss., real estate investment trust said funds from operations fell to 94 cents a share from $1.23 a share.
Plains All American Pipeline L.P.'s (PAA) second-quarter net income rose 23% to $104.8 million from $80.3 million a year earlier. The Houston oil transportation company's per-unit profit fell to 78 cents from 81 cents. The company recorded adjusted per-unit earnings, excluding items, of 91 cents. Revenue fell 20% to $3.92 billion from $4.89 billion.
Qualcomm Inc. (QCOM) said Monday that it plans to continue its appeal a ruling by the International Trade Commission that could keep wireless phones with the company's chipsets from the U.S. market. The company issued a statement late Monday after the Bush Administration decided not to exercise its authority to veto the ITC ruling. The company also said it is working on a software-based work-around to the technology that the agency found had infringed on patents held by rival Broadcom (BRCM) .
Quality Systems Inc.'s (QSII) second-quarter earnings rose 3.5%, boosted by the performance of its NextGen Healthcare Information Systems unit. The Irvine, Calif., maker of computer-based practice management and electronic medical records systems for doctors and dentists had second-quarter earnings of $7.94 million, or 29 cents a share, compared with $7.67 million, or 28 cents a share, a year earlier. Quality Systems said revenue for the quarter rose 17% to $42 million from $36.1 million a year ago.
Sallie Mae, formally known as SLM Corp. (SLM) , late Monday reaffirmed that its buyout by an investment group including J.C. Flowers & Co., Bank of America Corp., and J.P. Morgan Chase & Co., "can and should be consummated by October 2007." The company also reaffirmed its confidence that legislative proposals currently before Congress would not, if enacted, constitute a material adverse effect under the merger agreement. In April, the student-loan firm agreed to be taken private for $60 a share, or about $25 billion.
Sina Corp.'s (SINA) second-quarter net income grew 39% to $14.5 million, or 25 cents a share, from a year-earlier profit of $10.4 million, or 18 cents a share, on strength in its advertising business. The Shanghai online media company's revenue increased to $59.8 million from $53.7 million.
Sykes Enterprises Inc.'s (SYKE) second-quarter earnings fell 46% to $6.33 million, or 16 cents a share, from $11.8 million, or 29 cents a share, a year earlier. Revenue rose 24% to $168.3 million from $135.2 million.
TeleTech Holdings Inc.'s (TTEC) second-quarter net income fell 25% to $9.17 million, or 13 cents a share, from $12.2 million, or 17 cents a share, a year earlier. Excluding items, earnings rose to 24 cents a share. The Englewood, Colo., business process outsourcing services provider's revenue increased 15% to $329.8 million from $287.3 million a year ago.
Strength in Las Vegas and a new casino in Macau put Wynn Resorts (WYNN) back in the black in the second quarter as revenue better than doubled, the gambling company said Monday. Wynn earned $89.6 million, or 82 cents a share, a turn from its loss of $20.1 million, or 20 cents, in the year-ago period. Revenue came in at $687.5 million, up from $273.4 million, largely the result of the Macau casino opening.
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