Stocks in focus for Monday

Mar.03, 2008 in Market Outlook

Credence Systems, Finisar, MarkWest Energy

By MarketWatch

Last Update: 10:27 PM ET Mar 2, 2008

SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to
see active trade in Monday’s session are Credence Systems Corp., Finisar Corp.
and MarkWest Energy Partners LP.

Credence Systems (CMOS) is expected to report a fiscal first-quarter loss of 16
cents a share, according to analysts surveyed by FactSet Research.

Finisar (FNSR) is forecast to post earnings of 2 cents a share in the fiscal
third quarter.

MarkWest Energy (MWE) is estimated to report a profit of 50 cents a share in the
fourth quarter.

After Friday’s closing bell, Northrop Grumman Corp. (NOC) said it received a
contract to replace the U.S. Air Force’s KC-135 tankers with the KC-45A aerial
refueling tanker. The KC-45A is based on the Airbus A330 commercial jet, which is
produced by EADS (EADSY). The contract has an estimated value of $40 billion.
Northrop beat out Boeing Co. (BA) for the bid.

Watch list

Ambac Financial Group Inc. (ABK) said it lowered its quarterly dividend to 1 cent
from 7 cents and will suspend all new structured finance operations for the next
six months to achieve Moody’s Aaa “target” level. Ambac expects the moves to free
up about $600 million in capital.

Berkshire Hathaway Inc. (BRKA)(BRKB) said its fourth-quarter net income fell 18%
to $2.95 billion, or $1,904 per class A share, from $3.58 billion, or $2,323 per
class A share, a year earlier. The insurance-focused conglomerate reported
operating earnings, which exclude realized gains and losses from investments and
derivatives, of $2.35 billion, or $1,518 per class A share.

E.W. Scripps Co. (SSP) swung to a fourth-quarter loss of $256 million, or $1.56 a
share, from a year-earlier profit of $134 million, or 81 cents a share, because
of a pretax impairment charge of $411 million for losses at uSwitch. The
Cincinnati newspaper publisher’s revenue fell to $679.2 million from $683 million
a year ago.

Pepco Holdings Inc. (POM) said its fourth-quarter profit rose to $57.8 million,
or 29 cents a share, from $36.3 million, or 19 cents a share, last year. Analysts
surveyed by FactSet Research estimated a profit of 33 cents a share. Operating
revenue rose to $2.33 billion from $1.9 billion in the year-ago period.

United Parcel Service Inc. (UPS) widened its fourth-quarter loss to $2.52 a share
from the previously reported $2.46 a share to correct a tax benefit that was
recorded in the most recent period. Fourth-quarter adjusted earnings were lowered
to $1.07 from $1.13 a share. The Atlanta package-delivery company said the
correction has no effect on revenue, operating profit or loss, income or loss
before taxes, segment results, cash flow and liquidity, and reiterated its
outlook for first-quarter earnings of 94 cents to 98 cents a share and fiscal
2008 earnings of $4.30 to $4.50 a share.

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