May same-store sales rose 0.2% from a year ago, matching estimates, and the company backed its profit forecast. The department-store chain said total sales for the four-week period ended May 28 rose 10.2% to $899.1 million. For the second quarter, the company said it expects a same-store sales increase of 4% to 5% and remains comfortable with its previous earnings guidance of 49 cents to 52 cents a share. The stock was up $1.41, or 2.9%, to $50.10 in after-hours trading.
Marsh & McLennan
announced that it has completed the sale of its private equity subsidiary MMC Capital to the unit's management team. The new firm will be named Stone Point Capital LLC and will continue to focus on insurance and financial sectors, the company said. Stone Point capital will manage more than $2 billion, including its most recent fund, Trident III. The stock was unchanged at $29.04.
said it earned $106.1 million, or $1.62 a share, for the second quarter ended April 30, compared with $70.5 million, or $1.06 a share, a year ago. Revenue for the quarter was $1.2 billion. Analysts expected earnings of $1.61 a share on revenue of $1.27 billion. For the third quarter, the company expects to earn $1.70 a share and for the full year the company forecasts over $7 a share. Wall Street was expecting $1.80 a share for the third quarter and $6.94 for the year. The stock was down $2.35, or 3.9%, to $59.75 on Instinet.
said its second-quarter revenue should be at the high end of its prior forecast of $275 million to $278 million, or 4% to 5% growth from a year ago. Analysts expected earnings of 17 cents a share on revenue of $276 million, according to Thomson First Call. The company also said it would record a tax benefit of $15 million to $20 million as a result from two tax audits. The company will also book a $21 million tax charge to repatriate $400 million in foreign-based earnings. The stock was down 18 cents, or 0.81%, to $22 in after-hours trading.
announced that it will acquire privately held Vintela for around $56.5 in cash. Quest expects the deal to close late in the second quarter or early in the third quarter and said the transaction is expected to be dilutive to 2005 pro forma earnings by about 2 cents a share. The stock was down 4 cents, or 0.3%, to $13.11 in after-hours trading.