Early Stocks in Motion
Paychex (PAYX) reported net income of $101.4 million, or 27 cents a share, for the fourth quarter ended May 31, compared with $61.4 million, or 16 cents a share, a year ago. The business-solutions provider said revenue for the quarter increased 15% to $379 million from $330.4 million last year. Analysts expected earnings of 24 cents a share on revenue of $369.6 million, according to Thomson First Call. For fiscal 2006, the company said it expects net income growth of 18% to 20% and total revenue growth of 11% to 12%, assuming no change in interest rates. The stock was up 78 cents, or 2.6%, to $30.80 on Instinet.
Wyeth (WYE) raised its 2005 full-year earnings guidance to $2.80 to $2.90 a share, citing high single-digit revenue growth, lower-than-expected growth in several expense items and favorable tax developments. Analysts expected earnings of $2.82, according to Thomson First Call. The stock was unchanged at $43.
IBM (IBM) announced that it has received notification of an informal investigation by the Securities and Exchange Commission concerning IBM's disclosures relating to its first-quarter earnings and expensing of equity compensation. The stock was down 88 cents, or 1.2%, to $73 on Instinet.
Kemet (KEM) announced that it will incur a special charge of $4 million in the June quarter related to the reduction of 150 jobs worldwide; the majority of the cuts will occur in the U.S. The company said the restructuring will result in annual savings of $8 million. The stock was unchanged at $6.12.Phazar Corp (ANTP) announced that its wholly owned subsidiary, Antenna Products Corp., received a $1.7 million subcontract from BAE Systems for the installment of low-band and high-band antenna matching unit assemblies in Alaska. The installation work is scheduled to be completed by Nov. 1. Antenna Products said its backlog of orders as of June 27 was approximately $6.4 million, as a result of this order. The stock was up $1.39, or 6.82%, to $21.76 on Instinet.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV