Early Stocks in Motion

Starbucks raises its earnings outlook for 2005.

Author:: Mike Marino
Publish date:: Apr 28, 2005 6:54 AM EDT

Starbucks

said Wednesday that it earned $101 million, or 24 cents a share, for the second quarter ended April 3, compared with $79 million, or 19 cents a share a year ago. Revenue for the quarter was $1.5 billion. Analysts expected 24 cents a share on revenue of $1.5 billion, according to Thomson First Call. The company raised its 2005 earnings outlook to $1.17 to $1.19 a share, excluding certain items, from its previous guidance of $1.15 to $1.17 a share. The stock was up $1.04, or 2.24%, to $47.45 in after-hours trading.

MetLife

(MET) - Get Report

announced that it has filed a universal shelf registration statement with the

Securities and Exchange Commission

that will allow it to sell $11 billion of securities at some point in the future. Around $3.9 billion of the registered but unissued securities remaining from the company's prior shelf registration statement are being included in the filing. The stock was unchanged at $37.85.

Sanmina-SCI

(SANM) - Get Report

reported a loss of $1.04 billion, or $1.99 a share, for the second quarter ended April 2, vs. a loss of $43.9 million, or 9 cents a share a year ago. Revenue for the quarter was $2.89 billion. Excluding charges and certain items, the company earned $29.3 million, or 6 cents a share. Analysts expected earnings of 5 cents a share on revenue of $2.99 million. The stock was down 14 cents, or 3.11%, to $4.36 in after-hours trading.

ChevronTexaco

(CVX) - Get Report

announced it has increased its quarterly dividend by 5 cents to 45 cents a share. The dividend is payable on June 10 to stockholders of record as of May 19. The stock was up 20 cents, or 0.38%, to $52.20 in after-hours trading.

Martek Biosciences

( MATK) said it was reaffirming its second-quarter revenue forecast of $55 million. The company, however, revised the third-quarter revenue forecast down to a range of $38 million to $42 million, changed the fourth-quarter outlook to a range of $61 million to $76 million, and guided down fiscal 2005 revenue to a range of $220 million to $240 million. The company said it anticipates earnings being materially lower than the current estimate, and will provide details during a second-quarter earnings release planned for the week of June 6. The stock was down $26.17, or 43.56%, to $33.91 in after-hours trading.

Microchip Technology

(MCHP) - Get Report

said it earned $56.4 million, or 27 cents a share, for the fourth quarter ended March 31, vs. $46.8 million, or 22 cents a share a year ago. Revenue for the quarter was $208.1 million. Analysts expected a profit of 25 cents a share on revenue of $204.3 million. The company also said it has increased the quarterly dividend 36% to 9.5 cents a share. The quarterly dividend is payable on June 3 to shareholders of record as of May 13. The stock was up $1.51, or 5.91%, to $27.04 in after-hours trading.

MRV Communications

(MRVC)

reported a loss of $6.4 million, or 6 cents a share, for the first quarter ended March 31, vs. a loss of $4.8 million, or 5 cents a share a year ago. Revenue for the quarter was $62 million. Analysts expected a loss of 3 cents a share on revenue of $67.9 million, according to Thomson First Call. The stock was down 89 cents, or 29.37%, to $2.14 in after-hours trading.

Skechers USA

(SKX) - Get Report

said it earned $10.3 million, or 25 cents a share, for the first quarter ended March 31, compared with $7 million, or 18 cents a share a year ago. Revenue for the quarter was $246.2 million. Analysts expected a profit of 25 cents a share on revenue of $244 million. Looking forward, the company expects second-quarter profit of 21 cents to 26 cents a share on revenue in the range of $245 million to $255 million, which is below Wall Street's forecast of 28 cents a share on revenue of $259 million. The stock was down 6 cents, or 0.43%, to $13.88 in after-hours trading.

JDS Uniphase

(JDSU)

reported a loss of $38.6 million, or 3 cents a share, for the third quarter ended March 31, compared with a loss of $7.3 million, or a penny a share, a year earlier. Revenue for the quarter was $166.3 million. Excluding certain items, the company lost $23 million, or 2 cents a share. Analysts expected a loss of 2 cents a share on revenue of $159 million, according to Thomson First Call. The stock was down 9 cents, or 5.45%, to $1.56 in after-hours trading.

InPhonic

( INPC) reported a loss of $7 million, or 21 cents a share, for the first quarter ended March 31, compared with a loss of $6.9 million, or 60 cents a share a year ago. Revenue for the quarter was $76.6 million. Analysts expected a profit of a penny a share, according to Thomson First Call. The stock was down $4.59, or 21.90%, to $16.37 in after-hours trading.