Stocks to Watch: Therasense Climbs, Callaway Golf Drops
LosersAon (AOC) expects first-quarter earnings of 56 cents to 59 cents a share, including a gain. The company earned 32 cents in the year-ago quarter, before charges and goodwill amortization. Excluding the one-time gain, the company's results didn't meet internal targets that Aon established at the beginning of the year. The stock was falling more than 5% to $37.09. Aquila (ILA), formerly UtiliCorp United, was down almost 6% to $23.45 after the company said it expects first-quarter earnings of 32 cents a share, down from 69 cents in the year-earlier period. The company now expects a profit of $2.20 to $2.30 a share for the year, well below its previous forecast. Analysts expect first-quarter earnings of 62 cents and full-year earnings of $2.67. Callaway Golf (ELY) was dropping 10% to $18.25 after reporting earnings of 45 cents a share in the first quarter, 3 cents ahead of estimates. Sales slipped to $256.4 million from $261.4 million during the same quarter in 2001. In constant dollars, sales would have increased slightly. For the second quarter, Callaway expects sales of $240 million to $260 million and earnings of 38 cents to 48 cents a share. The company still expects net sales and operating earnings in 2002 to exceed 2001. Analysts expect second-quarter earnings of 47 cents and full-year earnings of $1.14. Impath (IMPH) was dropping 19% to $28.14 on news that its first-quarter revenue came in short of expectations. Earnings met estimates at 29 cents a share, but revenue rose to only $52.6 million. Analysts expected a top line of $55.9 million.
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