posted fourth-quarter earnings from continuing operations of $361 million, or 19 cents a share, down sharply from $841 million, or 41 cents a share, last year, but well above the Wall Street consensus forecast of 8 cents. The company's bottom-line earnings were $97 million, or 5 cents a share, after charges. H-P cited strong execution in its printer and imaging businesses for the better-than-expected results. Fourth-quarter sales fell to $10.9 billion from $13.3 billion last year, and the company warned first-quarter revenue would be slightly below the fourth quarter. H-P also reiterated its plans to acquire
Earnings Reports & Warnings
lowered its guidance for the second quarter, saying the results may be slightly below analysts' expectations because of a decline in the company's uniform sales division. The company now expects income of 33 cents to 34 cents a share, while analysts are looking for 35 cents.
forecast earnings of 25 cents to 35 cents a share for 2002. Wall Street is looking for 28 cents. The company projected total revenue for 2002 of $790 million to $825 million.
reported third-quarter earnings of 16 cents a share, 3 cents better than the First Call consensus estimate. Revenue fell 10.5% to $333 million. The company expects fourth-quarter earnings of 49 cents to 56 cents a share, compared with the mean estimate of 50 cents.
to hold from buy, citing the stock's valuation. The firm said a discounted cash flow analysis points to a value of $67.
Gerard Klauer Mattison upgraded
to buy from neutral. The firm set a price target of $50 on Applied and $36 on Teradyne. The firm expects orders to bottom in the fourth quarter and recover in the first half of 2002.
Christopher & Banks
declared a 3-for-2 stock split, payable Dec. 12 to shareholders of record Nov. 27.
signed an agreement with
to collaborate on a genome-wide validation of single nucleotide polymorphisms for pharmacogenetic studies.
plans to provide up to $266 million to Vesper, a Brazilian CDMA wireless service provider. Another Vesper partner is committing $80 million to the company.
agreed to provide co-branded broadband access in
13-state region. The companies also will offer co-branded dial-up product nationwide. For Yahoo!, the agreement provides monthly per-subscriber payments from SBC. Yahoo! also named Gary L. Wilson and Ronald W. Burkle to the board, increasing the number of directors to 10.
After Tuesday's Close
reported third-quarter earnings, excluding certain items, of $24.2 million, or 6 cents a share, on $219.6 million in revenue. Updated Wall Street consensus estimates saw BEA earning 5 cents a share on $220 million in revenue, according to Multex.com. Prior to the company's warning Nov. 1, analysts had expected the company to earn 8 cents with revenue of $253.5 million.
set plans to cut 10% of its staff of 1,300 workers. The company also said its first-quarter guidance remains unchanged. Analysts expect the company to lose 13 cents.