updated its earnings guidance due to the impact of Hurricane Katrina. CEC said 17 of its company-operated restaurants were closed at some point during or after the hurricane and five restaurants remain closed. The company reported a decrease in same-store sales of 5% for the first 10 weeks of the third quarter. Due to the difficulty in estimating the full impact of the hurricane, the company expects to earn 43 cents to 47 cents for the third quarter. Analysts were expecting earnings of 58 cents a share, according to Thomson First Call. The stock was down $1.31, or 3.8%, to $33.17 in after-hours trading.
reported a loss of $26.1 million, or 69 cents a share, for the fourth quarter ended June 30, versus a loss of $36.6 million, or 97 cents a share, a year ago. Revenue for the quarter was $70.4 million, down from $89.3 million last year. Excluding certain items, the company broke even. Analysts polled by Thomson First Call expected earnings of a penny a share on revenue of $66.8 million. The stock was down 4 cents, or 0.78%, to $5.08 in after-hours trading.
Property and casualty insurance provider
Endurance Specialty Holdings
reported that its initial estimate of losses, net of reinsurance, reinstatement premiums, and tax benefits related to Hurricane Katrina will be between $375 million and $450 million. The company estimates its gross losses related to the hurricane to be between $400 million and $500 million. Endurance said 50% of its losses were from wind-related exposures, including energy-related losses. The stock was unchanged at $36.95.
announced that Edmond English, its president and chief executive, resigned, effective immediately. Bernard Cammarata, the chairman, was named acting president and chief executive until the company can complete its search of a replacement. TJX said English has agreed to act in an advisory role to Cammarata to ensure a smooth transition. The stock was down 79 cents, or 3.71%, to $20.51 in after-hours.
Premiere Global Services
lowered its 2005 earnings forecast, citing an "unexpected fall-out from prolonged regulatory uncertainty concerning our legacy fax business and greater seasonal softness than expected." The company expects to earn 66 cents to 67 cents on revenue of $494 million to $498 million.
announced that its board has increased its quarterly dividend to 13 cents from 11 cents. The dividend will be payable on Oct. 31 to shareholders of record as of Oct. 10. In a separate statement, Brady said its board also authorized the repurchase of up to 800,000 common shares. The company will release its fiscal 2005 financial results on Sept. 14. The stock was up $2.05, or 6.06%, to $35.35 in after-hours trading.
announced that its board approved a plan to pursue the sale of Duke Energy North America's physical and commercial assets outside of the midwestern U.S. Due to the plan, Duke will take a non-cash, pretax charge of $1.3 billion, or 88 cents a share, which will be reported in the third quarter 2005 earnings. The energy company said it now expects to earn $1.60 to $1.65 for 2005. The stock was up 12 cents, or 0.41%, to $29.10 in after-hours trading.
continued to trade higher after the company announced Tuesday afternoon that it has introduced a line of vacuum food storage bags for use in the home under the Simply Smart brand. The bags are designed for use with all major vacuum sealing machines. The stock was up 96 cents, or 22.38%, to $5.25 in after-hours trading.