said it might beat its earlier fourth-quarter earnings guidance. The mobile-phone maker expects earnings to come in at the upper end of the earlier projected range of 0.18 euros to 0.20 euros (16 cents to 18 cents), or possibly even exceed that forecast. Based on developments during October and November, the company expects total sequential net sales growth for the Nokia group of about 20%. Nokia Networks sales should be higher sequentially, but down 20% from the same period a year ago. The company expects Nokia mobile-phone sales for the fourth quarter to rise 25% from the third quarter.
Earnings Reports & Outlooks
raised its guidance for fiscal 2002 and fiscal 2003. For the fiscal third quarter, which ends Dec. 31, the company expects earnings of 58 cents a share. The video-game maker forecast income of 10 cents for the fourth quarter. For fiscal 2003, the company expects earnings of 85 cents a share on revenue of $810 million. According to First Call, analysts expect the company to earn 53 cents in the third quarter, 9 cents in the fourth quarter and 83 cents in fiscal 2003.
forecast second-quarter earnings of 50 cents a share with revenue of more than $145 million. For the fiscal year ending June 30, 2002, the company expects income of $1.79 to $1.84 a share. According to First Call, analysts expect the company to earn 41 cents in the quarter and $1.74 for the year.
posted third-quarter income of 32 cents a share before items, matching the consensus estimate. Total sales for the quarter increased 3.8% to $11.4 billion. The supermarket chain projected fourth-quarter earnings of 46 cents to 48 cents a share, which would fall short of the First Call consensus of 50 cents. As part of a plan to reduce administrative costs, Kroger will eliminate about 1,500 positions during the next 12 months.
Mergers, Acquisitions & Joint Ventures
is considering selling the company's television business to
for $13 billion to $18 billion, according to a story in the
New York Post
The board of
has given the company's management the green light to negotiate a possible acquisition of
( GP) building products business. Willamette pointed out that there are no assurances that a transaction between the wood products companies will be completed. The Georgia-Pacific building products business had revenue of about $7 billion in 2000. Willamette has been fighting off a takeover attempt by fellow forest products concern
for more than a year. Weyerhaeuser has repeatedly extended its $50-a-share hostile bid for Willamette and now claims to have about 52 million Willamette shares.
( BSMD) received Food and Drug Administration approval for the EmboCath catheter.
said researchers found that Revimid demonstrated significant antitumor activity and was generally well tolerated in patients in studies involving people with refractory and relapsed multiple myeloma. The company plans to conduct further trials with the drug.
Internet Security Systems
( ISSX) said Chief Operating Officer Ken Walters will leave the company at the end of the year for personal reasons. The company plans to search for a replacement. Walters joined the company in August 2000.
( HM), which is being acquired by
, in the
after the close of trading Dec. 14. S&P SmallCap 600 component
( TBL) will replace Jones Apparel in the S&P MidCap 400.
will replace Timberland in the S&P SmallCap 600.