4:33PM Health Net to reaffirm its earnings guidance for FY08, as announced in a press release and conference call on April 30, 2008 (HNT) 29.33 +1.91 : On May 22, 2008, members of the HNT management team will be meeting with investors and analysts. During this meeting, the co intends to address its prospects and historical performance, and reaffirm its earnings guidance for the full year 2008, as announced in a press release and conference call on April 30, 2008. (Briefing.com note: The co guided for FY08 EPS of $3.45-3.55 (consensus is for $3.44)).
4:40PM Phillips-Van Heusen beats by $0.03, reports revs in-line; guides Q2 EPS in-line, revs in-line; guides FY09 EPS in-line, revs in-line (PVH) 45.76 -0.71 : Reports Q1 (Apr) earnings of $0.90 per share, incl $0.08 in start-up costs, $0.03 better than the First Call consensus of $0.87; revenues rose 5.7% year/year to $625.7 mln vs the $620.8 mln consensus. Co issues in-line guidance for Q2, sees EPS of $0.63-0.66 vs. $0.66 consensus; sees Q2 revs of $575-585 mln vs. $581.31 mln consensus. Co issues in-line guidance for FY09, sees EPS of $3.21-3.41 vs. $3.35 consensus; sees FY09 revs of $2.6 bln vs. $2.58 bln consensus. Briefing.com note: The co's Q1 EPS, revs and FY09 revs guidance came across the wires ~20 minutes ago.
4:08PM Intuit beats by $0.06, beats on revs; guides FY08 EPS above consensus, revs above consensus; issues $600 mln buyback (INTU) 27.21 -0.19 : Reports Q3 (Apr) earnings of $1.39 per share, $0.06 better than the First Call consensus of $1.33; revenues rose 15.3% year/year to $1.31 bln vs the $1.29 bln consensus. Co issues upside guidance for FY08, sees EPS of $1.61-1.63 vs. $1.59 consensus, up from $1.56-1.58 previously announced; sees FY08 revs of $3.05-3.06 vs. $3.02 bln consensus, up from $3.0-3.5 bln previously announced. Intuit also announced a new stock repurchase program authorizing the purchase of up to $600 mln of Intuit stock over the next three years.
4:06PM Hewlett-Packard reports Q2 in-line with preannouncement; reaffirms Q3 & FY08 guidance (HPQ) 46.46 -0.25 : Reports Q2 (Apr) earnings of $0.87 per share in-line with company preannouncement of $0.87; revs fell 0.7% yr/yr to $28.3 bln. Co reaffirms guidance for Q3, sees EPS of $0.82-0.83, excluding non-recurring items, vs. $0.82 consensus; sees Q3 revs of $27.3-27.4 bln vs. $27.35 bln consensus. Co reaffirms guidance for FY08, sees EPS of $3.54-3.58, excluding non-recurring items, vs. $3.54 consensus; sees FY08 revs of $114.2-114.4 bln vs. $114.19 bln consensus.
4:05PM Red Robin Gourmet misses by $0.07, reports revs in-line; raises FY08 EPS in-line, revs above consensus (RRGB) 39.06 -0.93 : Reports Q1 (Mar) earnings of $0.43 per share, $0.07 worse than the First Call consensus of $0.50; revenues rose 20.4% year/year to $255.6 mln vs the $256.2 mln consensus. Co raises guidance for FY08 to EPS of $2.04-2.23 vs. $2.15 consensus, up from $2.00-2.20; raises FY08 revs to $905-918 mln vs. $891.53 mln consensus, up from $880-893 mln.
4:04PM Analog Devices beats by $0.03, beats on revs; guides Q3 EPS in-line, revs above consensus (ADI) 34.65 -1.07 : Reports Q2 (Apr) earnings of $0.44 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.41; revenues rose 5.8% year/year to $649.3 mln vs the $627.2 mln consensus. Co issues guidance for Q3, sees EPS of $0.43-0.45 vs. $0.43 consensus; sees Q3 revs of $650-665 mln vs. $638.81 mln consensus. Board of Directors has declared a cash dividend up 11% q/q to $0.20.
8:28AM Target beats by $0.03; announces closing of transaction with JP Morgan Chase (TGT) 54.92 : Reports Q1 (Apr) earnings of $0.74 per share, $0.03 better than the First Call consensus of $0.71; revenues rose 5.0% year/year to $14.3 bln vs the $14.92 bln consensus. The company also announced that the transaction to sell an undivided interest in approximately 47 percent of its credit card receivables to JPMorgan Chase (JPM) for cash proceeds of about $3.6 billion was completed on Monday, May 19, 2008.
8:03AM Saks misses by $0.04, beats on revs (SKS) 14.13 : Reports Q1 (Apr) earnings of $0.13 per share, $0.04 worse than the First Call consensus of $0.17; revenues rose 8.8% year/year to $862.4 mln vs the $841.1 mln consensus. Co sees omparable store sales growth of mid-single digits for the full year, with low-single digit comparable store sales growth in the second quarter and mid-single digit comparable store sales growth in the second half of the year.
7:18AM Medtronic beats by $0.06, beats on revs (MDT) 47.88 : Reports Q4 (Apr) earnings of $0.78 per share, $0.06 better than the First Call consensus of $0.72; revenues rose 17.7% year/year to $3.86 bln vs the $3.72 bln consensus. Fourth quarter ICD revenue of $806 mln increased 5%. Medtronic sees FY09 EPS of $2.94-3.02 vs $2.96 consensus; sees revs of $15-15.5 bln vs $15.14 bln consensus (MDT) 47.88 :
7:03AM AutoZone beats by $0.04, reports revs in-line (AZO) 127.80 : Reports Q3 (May) earnings of $2.47 per share, $0.04 better than the First Call consensus of $2.43; revenues rose 3.0% year/year to $1.52 bln vs the $1.52 bln consensus.
7:03AM Smart Modular Tech issues Q3 downside guidance (SMOD) 6.43 : Co issues Q3 downside guidance, sees Q3 non-GAAP EPS of approx $0.05-0.07 vs $0.17 consensus; co sees revs of $150-155 mln vs $164.9 mln consensus. "While recent reports of improved DRAM pricing should bode well for a return to growth in future quarters, SMART's business during the third quarter of fiscal 2008 has been negatively impacted by three primary factors: 1) the extended difficult pricing environment over the course of the past several quarters and the resulting market share loss to certain semiconductor companies that offer memory modules, in addition to DRAM, and compete against SMART, 2) the slower than expected ramp of high density memory modules because SMART encountered delays in qualifying various module configurations at its customers that stemmed from a product introduction set-back by one of its suppliers, and 3) a higher than expected overall effective tax rate, due to a business shortfall in a certain region with a lower tax rate."
7:02AM Staples reports EPS in-line, beats on revs; reaffirms FY08 guidance (SPLS) 23.57 : Reports Q1 (Apr) earnings of $0.30 per share, in-line with the First Call consensus of $0.30; revenues rose 6.4% year/year to $4.88 bln vs the $4.83 bln consensus. The company expects the weak economic climate to continue throughout 2008. Based on this expectation, and continued investment in growth initiatives, the company's previous full year outlook remains unchanged. The company expects to achieve mid single-digit sales growth and high single-digit earnings per share growth for 2008 The company expects flat earnings per share growth for the second quarter
6:06AM Elbit Systems beats by $0.19, beats on revs (ESLT) 56.79 : Reports Q1 (Mar) earnings of $0.75 per share, $0.19 better than the First Call consensus of $0.56; revenues rose 52.6% year/year to $616.1 mln vs the $520 mln consensus.
6:05AM Home Depot beats by $0.04, beats on revs (HD) 28.87 : Reports Q1 (Apr) earnings of $0.41 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.37; revenues fell 3.4% year/year to $17.91 bln vs the $17.61 bln consensus.
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