Stocks to Watch: Borland Affirms Guidance, Deere Tops Estimates
Krispy Kreme
(KKD)
said fourth-quarter total company revenue rose 40.3% to $114.9 million. Additionally, the company said it was comfortable with its earnings guidance of 44 cents a share in 2002 and 61 cents a share in 2003. Also, the company will no longer finance its new manufacturing and distribution facility in Illinois with a synthetic lease. The company will instead use conventional, on balance sheet financing on the $35 million facility. The doughnut maker said its banks have approved conventional financing for the facility.
Earnings Reports & Outlooks
Blockbuster
(BBI) - Get Brickell Biotech, Inc. Report
posted fourth-quarter earnings, excluding items, of 35 cents a share, beating the consensus expectation by 7 cents. According to generally accepted accounting principles, the company lost 3 cents. Revenue rose to $1.36 billion from $1.34 billion. In 2002, the company expects to open about 300 company-operated stores and achieve double-digit growth in earnings before interest, taxes, depreciation and amortization.
Borland
(BORL)
reaffirmed its guidance for the first quarter and fiscal 2002. The company expects earnings of 7 cents to 9 cents in the first quarter. The consensus forecast is 8 cents. The company also said it knows of no reason for the decline in its stock price Monday, when the shares dropped 17%.
Concord EFS
(CEFT)
reported fourth-quarter earnings of 17 cents a share, in line with the consensus estimate. Revenue rose 18% to $473.6 million.
TheStreet Recommends
Deere
(DE) - Get Deere & Company Report
lost 16 cents a share in the first quarter, topping the consensus forecast by 8 cents. Revenue fell 7% from a year ago to $2.52 billion.
Analyst Actions
Thomas Weisel upgraded the electronics manufacturing services sector to overweight from market weight. The firm raised its rating on
Jabil Circuit
to strong buy from buy and upgraded
Sanmina-SCI
(SANM) - Get Sanmina Corporation Report
to buy from attractive.
Offerings
Amylin Pharmaceuticals
(AMLN)
priced an offering of 10.5 million shares at $8 each.
Miscellaneous News
Overture Services
(OVER)
signed an agreement through at least 2003 to provide its search results to
Microsoft's
(MSFT) - Get Microsoft Corporation Report
MSN. Separately, Goldman Sachs added Overture to its recommended list, upgrading the company from market outperform.
