Movers & Shakers: Thursday’s biggest gaining and declining stocks; Agilent, Comcast, Marriott, MBIA, UBS, more

Feb.14, 2008 in Market Outlook

Agilent, Comcast, Marriott, MBIA, UBS, more

By MarketWatch

Last Update: 1:51 PM ET Feb 14, 2008

SAN FRANCISCO (MarketWatch) — Shares of the following companies were among those
making notable moves in the U.S. stock market Thursday.

Advancers

Advanced Medical Optics’ (EYE) fourth-quarter loss widened to $12.3 million, or
20 cents a share, from $7.6 million, or 13 cents a share, hurt by charges related
to acquisitions and losses on derivative instruments. Sales rose 25% to $304.6
million. Analysts polled by Thomson Financial expected earnings of 39 cents a
share on revenue of $313 million. The company cut its view of 2008 performance as
the deteriorating U.S. economy will hurt domestic Lasik procedure volumes. It
also plans to cut 150, or about 4%, of its jobs to save $10 million to $12
million a year; it will take $25 million to $30 million in charges on the job-cut
plan.

Amkor Technology Inc.’s (AMKR) fourth-quarter net income climbed to $93.7
million, or 46 cents a share, from $59 million, or 30 cents a share, a year
earlier, boosted in part by stronger-than-expected demand for high-end wireless
communications and computing and gaming applications. The semiconductor assembly
and test services provider said sales increased to $746.9 million from $683
million. Amkor expects first quarter earnings of 25 cents to 29 cents a share.
The company expects first-quarter sales to fall 7% to 9% from the fourth quarter.

Arbitron Inc., (ARB) the New York media and marketing research firm, reported
fourth-quarter earnings fell 25% on 5.4% higher revenue. Earnings fell to $3.7
million, or 13 cents a share, from $4.9 million, or 17 cents, in the year-earlier
quarter. Revenue reached $80.1 million from $76 million. A survey of analysts by
Thomson Financial produced consensus estimated 9 cents of profit on $84 million
of revenue. For 2008, Arbitron expects earnings from continuing operations of
$1.42 to $1.56 a share versus $1.37 in 2007. Thomson’s survey calls $1.40 a share
for the year. Arbitron expects revenue to increase 8% to 10%.

Avis Budget Group (CAR) reported a fourth-quarter net loss of $1.06 billion, or
$10.16 a share, compared with net income of $3 million, or 2 cents a share, in
the year-earlier period. Excluding a charge, the company earned 27 cents a share
in the latest period. Revenue totaled $1.38 billion, up from $1.33 billion.

Baidu.com Inc. (BIDU), the Chinese-language Internet search provider, reported
fourth-quarter net income rose to 219.8 million yuan ($30.1 million), or 6.32
yuan a share (87 cents), from 181.7 million yuan, or 5.23 yuan a share, a year
earlier. Revenue rose to 571.1 million yuan ($78.3 million) from 496.5 million
yuan. Analysts had estimated a profit of 72 cents a share on revenue of $77
million.

Comcast Corp. (CMCSA)(CMCSK) plans its first dividend in nearly a decade and
committed to a timeline for buying back nearly $7 billion in stock. The plans
were announced as Comcast exceeded its 2007 financial expectations, which the
company scaled back in early December. See full story.
Click for Detail

Diageo, (DEO) producer of Guinness stout, Smirnoff vodka, and Johnnie Walker
Scotch, reported first-half earnings rose 9% and affirmed its estimate for the
full year.

Gentiva Health Services Inc. (GTIV) fourth-quarter net income rose 60% to $8.8
million, or 31 cents a share, from $5.5 million, or 20 cents a share. Revenue
rose 7% to $313.4 million. The company said its performance was driven by its
Home Health division and double-digit growth in Medicare revenue. Gentiva raised
its 2008 financial outlook and now expects earnings in a range of $1.32 to $1.40
a share, up from its previous guidance of $1.25 to $1.35 a share.

Mack-Cali Realty Corp. (CLI) reported Thursday funds from operations for the
fourth quarter of $73 million, or 89 cents a share, up from $68.2 million, or 87
cents a share, for the year-ago period. Net income was $15.8 million, or 24 cents
a share, down from $67.4 million, or $1.07 a share. Revenue increased 2.9% to
$201.7 million from $196.1 million.

Marriott International (MAR) fourth-quarter net income dropped 20% to $176
million, or 46 cents a share, as it halted its synthetic fuel operation, while
revenue rose 8% to $4.09 billion. From continuing operations, it earned 62 cents
a share, matching Thomson Financial-compiled analyst forecasts, with revenue per
available room up 8.1% worldwide and 6.2% in North America on a comparable basis.
See full story.
Click for Detail

MBIA Inc. (MBI) said it completed the sale of 94.6 million common shares for
$12.15 each, or net proceeds of about $1.1 billion. Private-equity firm Warburg
Pincus LLC bought $300 million in stock as part of the offering. MBIA said it has
now increased its claims-paying resources by as much as $3.2 billion in about two
months, including Wednesday’s deal, and currently has more than $17 billion in
total claims-paying resources.

Migros Turk TAS, (MGRTF) Turkey’s largest supermarket chain, agreed to be
acquired for about $3.2 billion by the London investment firm BC Partners,
Bloomberg News reported. BC Partners agreed to buy 51% of Migros Turk for 21.85
liras a share, or 1.98 billion liras ($1.7 billion), from Koc Holding AS,
Bloomberg reported. And BC said it will offer to buy out the rest of the
stockholders at that price, an 11% premium to Tuesday’s close on the Istanbul
bourse, the news service reported.

Taiwan Semiconductor Manufacturing Co. (TSM) consolidated net sales in January
climbed 45% to NT$31.07 billion (US$980.4 million) from the year-earlier period.
Analysts said the higher sales figures were related to customers placing orders
ahead of the Lunar New Year holidays on Feb. 6 to 11 while the later start to the
holiday in 2007 led to a lower comparison base.

ValueClick Inc. (VCLK) fourth-quarter net income fell to $18.1 million, or 18
cents a share, from $21.6 million, or 22 cents a share, a year earlier. Results
for the latest quarter included a Federal Trade Commission settlement charge of 3
cents a share. The Internet advertising service provider said revenue increased
to $183.1 million from $160.4 million, helped by results from acquired companies.
Analysts had expected earnings of 18 cents a share on revenue of $176 million.

Yahoo (YHOO)told holders in a letter that Microsoft’s (MSFT) $31-a-share bid
undervalues the Internet-services firm and the board would continue to assess
other possible options. Meantime, The Wall Street Journal reported that Yahoo is
talking with News Corp., (NWS) parent of the Journal, Barron’s, Dow Jones
Newswires and MarketWatch. The talks center on Yahoo swapping a 20% or larger
stake for News Corp.’s MySpace social-networking site and other properties, the
paper reported.

Decliners

Advanced Auto Parts Inc.’s (AAP) fourth-quarter net income fell to $34.8 million
from $35.4 million a year earlier. On a per-share basis, earnings rose to 35
cents from 33 cents. Net sales grew to $1.05 billion from $1.02 billion. Analysts
had expected earnings of 37 cents a share on revenue of $1.07 billion. Advanced
Auto expects 2008 earnings to be about $2.55 a share on revenue of $5.1 billion.

Agilent Technologies Inc.’s (A) fiscal first-quarter net income declined to $120
million, or 31 cents a share, from $150 million, or 36 cents a share, a year
earlier. Excluding stock-based compensation and other items, the latest earnings
were 42 cents a share. The maker of testing and measuring equipment said revenue
increased to $1.39 billion from $1.28 billion. Analysts had expected earnings of
41 cents a share on revenue of $1.38 billion. Looking ahead, Agilent expects
fiscal second-quarter adjusted earnings of 46 cents to 50 cents a share on
revenue of $1.4 billion to $1.45 billion.

Air France-KLM (AFLYY)(FR:003112) reported fiscal third-quarter profit dropped
39% due to income tax of 63 million compared with a tax credit in the
year-earlier period.

Bally Technologies Inc. (BYI) swung to a fiscal second-quarter profit of $24.4
million, or 42 cents a share, from a loss of $2.5 million, or 5 cents a share, a
year earlier. Revenue increased to $230.7 million from $150.9 million. Analysts
had expected second-quarter earnings of 39 cents a share and revenue of $199.1
million. Bally Technologies raised its 2008 forecasts, now projecting earnings of
$1.62 to $1.87 a share for the year ending June 30 and revenue in excess of $875
million.

Baxter International Inc.: (BAX) The Wall Street Journal reported in its online
edition that active ingredients used in the recently recalled blood thinner
heparin made by Baxter have been traced to a Chinese plant that the Food and Drug
Administration had never inspected. The FDA will inspect the plant soon. In
January, Baxter issued an “urgent” recall of batches of heparin after reports it
caused severe allergic reactions in hundreds of recipients. Four people died.

Bear Stearns Cos.: (BSC) Citic Securities is seeking to renegotiate the terms of
its planned $1 billion investment in the New York investment bank following the
continued slide in the share price of the Wall Street firm since the original
agreement was reached, Reuters reported. China’s top brokerage by assets is now
seeking a 9.9% stake in Bear Stearns, up from a 6% stake, the news service
reported, citing two people with knowledge of the deal. The report said Bear
Stearns was likely to agree to the change.

Clear Channel Communications Inc. (CCU) will have to divest radio stations in
four cities before being acquired for $19.5 billion by a private-equity group led
by Bain Capital and Thomas H. Lee Partners, the Department of Justice said. The
agency is requiring Clear Channel to shed radio stations in Cincinnati, Houston,
Las Vegas and San Francisco because Bain and Lee own interests in competitors in
those cities.

Liz Claiborne Inc. (LIZ) expects to report a fourth-quarter loss of 90 cents to
$1 a share, compared with a profit of 71 cents a share a year earlier. The New
York apparel, accessories and fragrance designer estimates adjusted profit of 15
cents to 25 cents a share on net sales of about $1.21 billion. Liz Claiborne
expects to report a loss for 2007 of 25 cents to 35 cents a share, compared with
profit of $2.46 a share in 2006.

Daimler (DAI) swung to a fourth-quarter profit of 1.7 billion euros from a
year-earlier loss of 12 million, on earnings from the core Mercedes-Benz
division. Earnings before interest and taxes in 2008 should be “well above” the
8.71 billion euros of 20007, the company said.

Foundation Coal Holdings Inc. (FCL)swung to a fourth-quarter profit of $9.9
million, or 21 cents a share, from a loss of $21.9 million, or 48 cents, a year
earlier. Excluding special items, earnings rose to 22 cents a share from 5 cents.
The Lithicum Heights, Md., coal company said revenue rose 3.8% to $367.2 million
from $353.8 million. Analysts polled by Thomson Financial projected earnings of
19 cents a share on revenue of $372.8 million. For 2008, Foundation Coal projects
earnings of $1.05 to $1.55 a share on revenue of $1.60 billion to $1.65 billion.

Healthspring Inc.’s (HS) fourth-quarter net income rose to $26.2 million, or 46
cents a share, from $20.1 million, or 35 cents a share, in the year-earlier
period. The managed-care company’s revenue nearly doubled to $468.5 million from
$246.1 million. Analysts had expected earnings of 45 cents a share on revenue of
$454 million.

Jarden Corp. (JAH) swung to a fourth-quarter loss of $11.2 million, or 15 cents a
share, from net income of $35.7 million, or 52 cents a share, in the year-ago
period. Adjusted net rose to 89 cents a share from 80 cents. Charges included in
the latest quarter included $46.5 million in costs tied to its K2 Inc.
acquisition. Analysts surveyed by Thomson Financial forecast earnings of 73 cents
a share for the Rye, N.Y., consumer products maker.

Ingram Micro Inc.’s (IM) fourth-quarter earnings rose to $114.1 million, or 64
cents a share, from $91.7 million, or 53 cents a share. Revenue increased to $10
billion from $8.85 billion a year earlier. Analysts had expected earnings of 60
cents a share and revenue of $9.86 billion. The technology company sees
first-quarter earnings of 36 cents to 40 cents a share and revenue of $8.75
billion to $9 billion.

Intersil Corp. (ISIL) Chief Executive Rich Beyer resigned to become chairman and
CEO of Freescale Semiconductor. Intersil’s board appointed David Bell president
and CEO.

Netgear Inc.’s (NTGR) fourth-quarter net income decreased to $12.5 million, or 35
cents a share, from $13.4 million, or 38 cents a share, a year earlier, due in
part to increased operating expenses. Adjusted earnings fell to 41 cents a share
from 43 cents. The network equipment designer’s revenue rose to $198.3 million
from $164 million. Analysts had expected earnings of 45 cents a share on revenue
of $199 million.

Network Appliance Inc.’s (NTAP) fiscal third-quarter net income rose to $101.8
million, or 29 cents a share, from $66.5 million, or 17 cents a share, a year
earlier. The seller of data storage systems said the latest adjusted profit was
37 cents a share. Analysts had projected earnings at 34 cents a share. Revenue
rose to $884 million from $729.3 million.

Northwest Natural Gas Co., (NWN) the Portland, Ore., natural-gas distributor,
reported fourth-quarter net income fell 1.3% on 1.6% lower revenue. Earnings fell
to $29.7 million, or $1.11 a share, from $30.1 million, or $1.09, in the
year-earlier period. Revenue fell to $331.6 million from $336.9 million. A survey
of analysts by Thomson Financial produced consensus estimates of $1.12 of profit
on $321 million of revenue. For 2008, NWN estimates earnings at $2.48 to $2.63 a
share. Thomson’s survey calls $2.68 for the year.

Nvidia Corp. (NVDA) reported fourth-quarter earnings of $257 million, or 42 cents
a share, against $163.5 million, or 27 cents a share, for the year-earlier
period. The latest adjusted profit was 49 cents a share. Revenue rose to $1.2
billion. Analysts were expecting earnings of 47 cents a share on revenue of $1.19
billion.

Swift Energy Co., (SFY) the Houston oil-and-gas company, reported a
fourth-quarter loss of $80.1 million after a $132.8 million loss from
discontinued operations. Earnings from continuing operations rose 54% to $52.7
million, or $1.71 a share, from the year-earlier period. Revenue rose 46% to
$196.4 million. A survey of analysts by Thomson Financial produced consensus
estimates of $1.64 of profit on $203 million of revenue. The loss from
discontinued operations reflects Swift’s plan to sell much of its New Zealand
operations.

Taser International Inc., (TASR) the Scottsdale, Ariz., producer of weapons
systems for law enforcement and personal protection, reported fourth-quarter
earnings doubled on 61% higher revenue. Earnings reached $4.7 million, or 7 cents
a share, from $2.3 million, or 4 cents, in the year-earlier period. Shars
outstanding rose 2.4% to 66.3 million. Sales rose to $31 million from $19.3
million. A survey of analysts by Thomson Financial produced a consensus estimate
of 7 cents of profit on $29 million of sales.

UBS (UBS) posted its first full-year net loss, tied to the U.S. housing and
subprime-mortgage problems, and said 2008 would be “difficult.”

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