Movers & Shakers: Thursday’s biggest gaining and declining stocks

Jan.31, 2008 in Market Outlook

Amazon, Audible, Harris, MBIA, Pulte, Starbucks

By MarketWatch

Last Update: 7:40 AM ET Jan 31, 2008

NEW YORK (MarketWatch) — Among the companies whose shares are expected to see
active trade in Thursday’s session are Amazon, Audible, Burger King, Dun &
Bradstreet, Eagle Materials, Harris, ImClone, MBIA, Merrill Lynch, Pulte Home,
Starbucks and Ann Taylor.

Aflac Inc.’s (AFL) fourth-quarter earnings rose to $382 million, or 78 cents a
share, from $332 million, or 67 cents, a year earlier. Revenue increased to $4.02
billion from $3.69 billion. Analysts had expected earnings of 80 cents a share on
revenue of $3.96 billion. The insurance provider said it expects 2008 operating
earnings, excluding the impact of the yen, of $3.70 to $3.76 a share on a sales
increase of 8% to 12%. Wall Street expects 2008 earnings of $3.83 a share.

Alliance Data Systems Corp.’s (ADS) fourth-quarter net income fell to $33.9
million, or 42 cents a share, from $39.6 million, or 48 cents a share, a year
earlier. The transaction processor said revenue grew to $602.7 million from
$524.5 million. Analysts had expected earnings of 93 cents a share on revenue of
$601 million. Earlier Wednesday, Alliance Data sued Blackstone Group LP (BX) to
force the private-equity firm to go through with its $6.4 billion acquisition of
the company.

Alliant Techsystems, (ATK) the Minneapolis weapons- and space-systems company,
reported fiscal third-quarter net income rose 14% on 17% higher sales. For the
quarter ended Dec. 30, earnings rose to $58.3 million, or $1.65 a share, from
$51.2 million, or $1.53, in the year-earlier period. Sales reached $1.05 billion
from $903.8 million. A survey of analysts by Thomson Financial produced consensus
estimates of $1.59 of profit on $1.03 billion of sales. ATK raised its estimate
of fiscal 2008 earnings to a range of $6.25 to $6.35 from $6.20 to $6.30. The
company affirmed its full-year sales estimate of $4.1 billion. Thomson’s survey
is looking for $6.34 a share and $4.13 billion.

Amazon.com (AMZN) reported fourth-quarter earnings more than doubled to $207
million, or 48 cents a share, from a year earlier, as revenue grew 42% to $5.67
billion. Analysts were expecting earnings of 48 cents a share on revenue of $5.37
billion. For the first quarter, the company said it expects revenue to come in
between $3.95 billion and $4.15 billion, ahead of the $3.92 billion predicted by
analysts. See full story
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AstraZeneca (AZN) fourth-quarter profit dropped to $1.28 billion, or 86 cents a
share, from $1.45 billion, or 93 cents a share, a year ago. Sales climbed 14% to
$8.17 billion. AstraZeneca also said that it expects to file license applications
for as many as three new medicines in 2008.

Audible Inc.: (ADBL) Amazon.com (AMZN) agreed to buy the provider of digital
spoken word audio content for $11.50 a share, a 23% premium to its closing price
of $9.33 a share in Wednesday trading.

Burger King Holdings Inc. (BKC) second-quarter earnings rose to $49 million, or
36 cents a share, from $38 million, or 28 cents, in the year-earlier period.
Revenue rose 10% to $613 million. Results reflected a comparable-sales rise of
4.5%.

CACI International Inc.’s (CAI) fiscal second-quarter earnings fell to $19.2
million, or 63 cents a share, from $20.5 million, or 65 cents a share, a year
earlier. The information technology company said revenue increased to $577.8
million from $476.9 million a year ago. Analysts had predicted earnings of 63
cents a share on revenue of $559.1 million for the quarter. CACI raised the lower
end of its 2008 outlook by a dime, to $2.60 to $2.80 a share.

Covance Inc.’s (CVD) fourth-quarter earnings rose to $50.9 million, or 78 cents a
share, from $38.3 million, or 59 cents. The biopharmaceutical company’s revenue
increased to $411 million from $343 million. Analysts had expected 72 cents a
share on revenue of $402 million. Covance expects 2008 earnings of $3.18 per
share on low-to mid-teens-percent revenue growth. Wall Street expects 2008
earnings of $3.19 a share.

Crown Holdings Inc.’s (CCK) fourth-quarter net income more than doubled to $343
million, or $2.11 a share, from a year earlier. Revenue rose to $1.87 billion
from $1.68 billion.

Cytec Industries Inc.’s (CYT) fourth-quarter net income fell to $47.6 million, or
97 cents a share, from $83.4 million, or $1.70 a share, a year earlier. The
chemical company’s sales rose to $901.2 million from $793.6 million. Analysts had
predicted earnings of 83 cents a share and revenue of $852.5 million. Cytec said
it expects year earnings in the range of $4.15 to $4.35 a share, up from 2007
adjusted earnings of $3.90 a share.

Duke Realty Corp.’s (DRE) fourth-quarter net income rose to $62 million, or 40
cents a share, from $55 million, or 37 cents a share, a year earlier. Funds from
operations for the period rose to 80 cents a share from 76 cents. The real estate
investment trust’s revenue from continuing operations increased to $261.4 million
from $256.4 million. Duke lowered its estimate of 2008 funds from operations to a
range of $2.60 to $2.90 a share from $2.80 to $3.

Dun & Bradstreet Corp. (DNB) reported fourth-quarter net income rose to $101.7
million, or $1.74 a share, from $91.2 million, or $1.46 a share, a year earlier.
Revenue rose to $464.7 million from $424.2 million. Analysts had forecast
earnings of $1.67 a share. The business information, data and services company
expects earnings in 2008 to range from $5.19 to $5.29 a share before gains and
charges.

DynCorp International Inc.’s (DCP) fiscal third-quarter earnings increased to $12
million, or 21 cents a share, from $11.6 million, or 20 cents a share, a year
earlier. The technical-services provider’s revenue rose to $523.1 million from
$517.5 million. Analysts had expected 28 cents a share on revenue of $602
million. DynCorp now expects fiscal 2008 earnings of $1 to $1.05 a share, cutting
the top end of the range by a nickel. Revenue is now seen at $2.13 billion to
$2.18 billion instead of $2.3 billion to $2.4 billion. Wall Street is looking for
fiscal 2008 earnings of $1.08 a share on revenue of $2.29 billion.

Eagle Materials Inc.’s (EXP) fiscal third-quarter earnings declined to $22.4
million, or 50 cents a share, from $40.9 million, or 83 cents a share, a year
ago. The cement manufacturer reported weakness in wallboard sales volumes and
prices, as revenue fell to $173 million from $191.8 million a year ago. Analysts
had expected earnings of 47 cents a share on revenue of $174 million.

Everest Re Group (RE) fourth-quarter net income came in at $12.2 million, or 19
cents a share, down from $206.4 million, or $3.15 a share, a year ago. Everest Re
was expected to make $1.19 a share.

Fannie Mae (FNM) cut President and Chief Executive Daniel H. Mudd’s 2007 bonus to
$2.22 million. Mudd received a 2006 bonus of $3.5 million. The financial-services
company also said Mudd will receive a 2007 long-term incentive award of $9
million. Fannie Mae disclosed in January 2007 that Mudd would receive a 2007 and
2008 base salary of $990,000.

Fidelity National Financial (FNF) reported a fourth-quarter loss of $44.9
million, or 21 cents a share, compared with net income of $71.2 million, or 34
cents a share, a year earlier. Analysts expected the company to earn 18 cents a
share.

Hanesbrands Inc. (HBI) fourth-quarter net income more than doubled to $50
million, or 52 cents a share, from $24 million, or 25 cents, a year earlier. The
latest adjusted earnings came in at 34 cents a share. Sales climbed 2% to $1.17
billion.

Harris Corp.’s (HRS) fiscal second-quarter net income increased to $114.3
million, or 83 cents a share, from $94 million, or 67 cents a share, a year
earlier. The communication products company’s revenue rose to $1.32 billion from
$1.02 billion. Analysts had expected earnings of 81 cents on revenue of $1.25
billion. Harris increased its forecast for fiscal 2008, saying it expects
per-share earnings of $3.35 to $3.45.

Hologic Inc.’s (HOLX) board approved a 2-for-1 stock split.

ImClone Systems Inc. (IMCL) swung to a fourth-quarter loss of $19.9 million, or
23 cents a share, from profit of $46.6 million, or 53 cents, in the year-earlier
quarter. A poll of analysts by Thomson Financial had tipped earnings at 25 cents.
Revenue was $151 million compared with $132 million.

Eli Lilly & Co. (LLY) is in talks to settle civil and criminal probes into how
the company marketed its antipsychotic drug Zyprexa, The New York Times reported
on its Web site, citing several sources close to the matter. The settlement could
reach more than $1 billion paid to federal and state governments, the paper
reported.

Mattel (MAT) reported a 15% fourth-quarter profit rise to $328.5 million, or 89
cents a share, with sales up 4% to $2.19 billion. International sales growth
offset a 3% drop in the U.S., helped by a 19% rise in worldwide girls brands
other than Barbie. Analysts polled by Thomson Financial expected earnings of 73
cents a share. Mattel also approved a $500 million stock buyback.

MBIA Inc. (MBI) on Thursday reported it swung to a fourth-quarter loss of $2.3
billion as the bond insurer absorbed a loss on the securities it guaranteed.

Merrill Lynch & Co. (MER) said it won’t pay 2007 bonuses to executives at the
investment bank. The brokerage firm will make stock-option grants to some
executives to encourage them to stay as it tackles tough market conditions this
year. Gregory Fleming, chief operating officer, will get 1.19 million options and
Vice Chairman Robert McCann is getting 971,346 options.

Newell Rubbermaid (NWL) trimmed its 2008 sales outlook after reporting a 26%
profit rise for the fourth quarter to $131.2 million, or 47 cents a share. Sales
rose to $1.64 billion, up 0.3%. The Thomson Financial-compiled analyst estimate
was earnings of 45 cents a share. It trimmed its 2008 sales outlook, seeing
growth of 2% to 3% compared to a previous estimate of 3% to 5% growth, citing
worsening economic conditions in North America. It still expects adjusted
earnings of $1.95 to $2 a share, with margins expected to widen more than one
percentage point.

Novellus Systems Inc. (NVLS) reported fourth-quarter net income of $52.9 million,
or 47 cents a share, up from $42.6 million, or 34 cents, for the year-earlier
period. Revenue was $363.5 million compared with $438.5 million. Analysts had
expected the company to report earnings of 36 cents a share on revenue of $361.4
million.

Pulte Homes Inc.’s (PHM) fourth-quarter loss widened to $874.7 million, or $3.46
a share, from $8.41 million, or 3 cents. The home builder’s revenue fell to $2.9
billion from $4.39 billion. New-home orders fell 29% to 4,562 from 6,446, and
Pulte Homes’ backlog as of Dec. 31 of 7,890 homes was valued at $2.5 billion,
down from $3.58 billion the previous year. Pulte Homes expects a first-quarter
per-share loss from continuing operations of 15 cents to 30 cents.

Raytheon Co. (RTN) fourth-quarter earnings rose 64% to $598 million, or $1.37 a
share up from $365 million, or 81 cents, in the year-ago period. The Waltham,
Mass., defense contractor’s latest adjusted earnings from continuing operations
were 96 cents. Sales climbed 8% to $6 billion. Analysts polled by Thomson
Financial expected 92 cents a share on revenue of $5.9 billion. For 2008,
Raytheon expects earnings from continuing operations to range $3.65 to $3.80 a
share. Analysts are looking for $3.81 a share.

Snap-On Inc.’s (SNA) fourth-quarter net income rose to $57.3 million, or 98 cents
a share, from $38 million, or 64 cents a share, a year earlier. Analysts had
predicted 82 cents a share. Net sales increased to $742.9 million from $651.4
million. Snap-on expects to record $15 million to $20 million in 2008
restructuring expenses, down from $26 million in 2007. The company predicts sales
and operating earnings for the year will exceed its 2007 results due to the cost
reduction.

Starbucks (SBUX) reported fiscal first-quarter net income of $208.1 million, or
28 cents a share, compared with $205 million, or 26 cents, a year ago. Sales rose
17% to $2.8 billion. Starbucks also said it will close 100 under-performing U.S
stores and expects “low double-digit” earnings-per-share growth in 2008. See full
story

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