Early Stocks in Motion

CACI earnings top estimates.
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Morgan Stanley

(MWD)

took a few steps to improve profitability. The board decided to cancel the spinoff of Discover, saying it believes it can create value for shareholders. The firm will sell its non-strategic aircraft leasing business and invest the proceeds into its core business. From this, it expects an after-tax non-cash charge of $1 billion in the third quarter of 2005. Morgan Stanley also said that Roy J. Bostock, Charles H. Noski, and O. Griffith Sexton have been named to the board. The stock was down 5 cents, or 0.09%, to $52.80 in after-hours trading.

CACI International

(CAI) - Get Report

said it earned $23.4 million, or 76 cents a share, for the fourth quarter ended June 30, compared with $20.7 million, or 69 cents a share, a year ago. Revenue for the quarter rose 20% to $429.8 million from $358.3 million a year ago. Analysts expected a profit of 73 cents a share on revenue of $422.4 million, according to Thomson First Call. The stock was unchanged at $62.48.

Network Appliance

(NTAP) - Get Report

reported earnings of $60.1 million, or 16 cents a share, on revenue of $448.4 million for the first quarter ended July 29. This compares with $46.9 million, or 13 cents a share, on revenue of $358.4 million a year ago. Excluding certain items, the company earned $62.1 million, or 16 cents a share. Analysts polled by Thomson First Call expected 15 cents a share on revenue of $447.5 million. For the year, the storage solutions provider expects GAAP earnings of 74 cents to 77 cents a share and non-GAAP earnings of 76 cents to 79 cents a share. Wall Street was expecting non-GAAP earnings of 73 cents a share. The stock was up $1.02, or 4.16%, to $25.54 in after-hours trading.

Medtronic

(MDT) - Get Report

reported net income of $320.6 million, or 26 cents a share, for the first quarter ended July 29, versus $529 million, or 43 cents a share, last year. The medical technology company posted revenue of $2.69 billion for the quarter. Excluding charges, the company earned 50 cents a share. Analysts expected earnings of 49 cents a share on revenue of $2.67 billion. The stock was up 3 cents, or 0.05%, to $54.60 in after-hours trading.

Salesforce.com

(CRM) - Get Report

posted a profit of $5 million, or 4 cents a share, for the second quarter ended July 31, up from $1.2 million, or a penny a share, a year ago. Revenue for the quarter increased 77% to $71.9 million from $40.6 million last year. Analysts polled by Thomson First Call expected earnings of 4 cents a share on revenue of $71.6 million. For the year, Salesforce.com expects to earn 13 cents to 16 cents a share on revenue in the range of $298 million to $303 million, compared with Wall Street's estimate of 17 cents a share on revenue of $305.4 million. The stock was down $2.20, or 9.91%, to $20 in after-hours trading.

BEA Systems

(BEAS)

reported earnings for the second quarter ended July 31 of $36.1 million, or 9 cents a share, on revenue of $285.2 million. This compares with earnings of $30.6 million, or 7 cents a share, on revenue of $262.3 million a year ago. Excluding certain items, the company earned $37.7 million, or 9 cents a share. According to Thomson First Call, analysts expected a profit of 9 cents a share on revenue of $285.9 million. The stock was down 16 cents, or 1.72%, to $9.15 in after-hours trading.

Hot Topic

(HOTT)

reported disappointing earnings and lowered guidance. The retailer said it earned $900,000, or 2 cents a share, for the second quarter ended July 30, down from $4.5 million, or 9 cents a share, a year ago. Revenue for the quarter was $152.2 million up from $136.3 million last year. Analysts expected 3 cents a share on revenue of $153.2 million, according to Thomson First call.

The teen retailer said that same store sales month-to-date through Aug. 16 have decreased 8% from the same period last year. For the third quarter, Hot Topic now expects to earn 15 cents to 18 cents a share on sales of $192 million to $195 million. For the fourth quarter, it expects to earn 30 cents to 38 cents a share on revenue of $220 million to $230 million. Wall Street's estimates were 27 cents on revenue of $209 million for the third quarter and 43 cents a share on revenue of $244 million for the fourth quarter. The stock was down $2.31, or 14.6%, to $13.50 in after-hours trading.

Papa John's International

(PZZA) - Get Report

announced that it will sell 84 company-owned restaurants in Colorado and Minnesota to PJCOM Acquisition Corp, an affiliate of private equity firm Milestone Capital Management. Terms of the deal, which is expected to close at the end of the quarter or beginning of the fourth quarter, were not disclosed. The stock was unchanged at $44.86.

Tweeter Home Entertainment

(TWTR) - Get Report

said that its board does not agree with a proposal by Mark Wattles of Wattles Capital Management that the company needs to raise additional capital. "To suggest publicly that Tweeter, a competitor and publicly listed company, may be undercapitalized in the future is highly inappropriate," said Joe McGuire, president and chief executive officer of Tweeter Home Entertainment Group. The stock was unchanged at $4.50.