Earnings - 29th May 2008

3:02PM Plains All Amer increases 2008 operating & financial guidance; provides preliminary 2009 guidance (PAA) 47.36 +0.66 : For Q2 Co sees adjusted EBITDA of $200-215 mln with a midpoint of approximately $208 mln, which represents an approximate 11% increase over the midpoint of second-quarter guidance provided on April 30, 2008. Co projects its Adjusted EBITDA for the full year of 2008 to range from $835-875 mln with a midpoint of approximately $855 mln, which represents an approximate 9% increase over the midpoint of annual guidance provided on February 13, 2008. Co is also providing certain preliminary financial information with respect to 2009, including Adjusted EBITDA which is expected to range from $925-975 mln. On a sequential basis, the 2009 midpoint of $950 mln represents an approximate 21% increase over the midpoint of the original full-year 2008 annual guidance range provided on February 13, 2008 and an approximate 11% increase over the midpoint of the updated 2008 guidance range provided today.

1:25PM China Finance Online beats by $0.13, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY08 EPS above consensus, revs above consensus (JRJC) : Reports Q1 (Mar) earnings of $0.26 per share, $0.13 better than the First Call consensus of $0.13; revenues rose 176.5% year/year to $11.1 mln vs the $10.4 mln consensus. Co issues upside guidance for Q2, sees EPS of 0.24-0.26 vs. $0.15 consensus; sees Q2 revs of $13.0-13.5 mln vs. $12.51 mln consensus. Co issues upside guidance for FY08, sees EPS of 1.09-1.26 (previous guidance $1.04-1.26) vs. $0.94 consensus; sees FY08 revs of 56-61 mln (previous $54-61 mln) vs. $58.47 mln consensus. Gross margin was 84% in the first quarter, compared to 79% in the same period of 2007 and 85% in the fourth quarter of 2007. The year-over-year gross margin improvement was primarily due to cost leverage on increased sales and the modest sequential gross margin decline was driven by product mix change during the quarter. (Note- ADS is single analyst estimate; 2 analyst on revenue estimates)

8:32AM Corning reffirms Q2 revenue guidance of $1.71-1.75 bln & EPS of $0.4-0.50 (GLW) 27.53 : Corning reaffirms that it has seen no evidence of an economic downturn impacting LCD TV sales in the U.S.

7:37AM Genesco beats by $0.05, beats on revs; guides FY09 EPS above consensus (GCO) 26.50 : Reports Q1 (Apr) earnings of $0.14 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.09; revenues rose 6.7% year/year to $356.9 mln vs the $347.4 mln consensus. Co issues upside guidance for FY09, sees EPS of $2.09-2.19 vs. $1.89 consensus.

7:32AM Movado Group beats by $0.01, beats on revs; reaffirms FY09 guidance (MOV) 23.09 : Reports Q1 (Apr) earnings of $0.05 per share, $0.01 better than the First Call consensus of $0.04; revenues were unchanged from the year-ago period at $101.4 mln. Co reaffirms guidance for FY09, sees EPS of $1.65-1.72, includes $0.20 negative impact related to expected wholesale door closings, certain expenses related to the co's ERP implementation, and severance costs, may not be comparable to $1.69 consensus; sees FY09 revs of $555-565 mln vs. $555.95 mln consensus.

7:32AM Monro Muffler misses by $0.01; guides Q1 EPS in-line; reaffirms FY09 guidance (MNRO) 17.69 : Reports Q4 (Mar) earnings of $0.13 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.14; revenues fell 0.5% year/year to $107.2 mln vs the $108.2 mln single estimate. Co issues in-line guidance for Q1, sees EPS of $0.37-0.39 vs. $0.33 consensus. Co reaffirms guidance for FY09, sees EPS of $1.08-1.18 vs. $1.14 consensus; sees FY09 revs of $455-465 mln vs. $517.15 mln single estimate

7:04AM Joy Global beats by $0.14, beats on revs; raises FY08 guidance (JOYG) 77.88 : Reports Q2 (Apr) earnings of $0.86 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $0.72; revenues rose 34.0% year/year to $843 mln vs the $798.3 mln consensus. Co raises guidance for FY08, sees EPS of $3.15-3.30, compared to previous guidance of $2.96-3.22, vs. $3.27 consensus; sees FY08 revs of $3.3-3.4 bln, compared to previous guidance of $3.1-3.3 bln, vs. $3.23 bln consensus.

7:02AM DSW misses by $0.01; reaffirms FY09 EPS guidance (DSW) 14.28 : Reports Q1 (Apr) earnings of $0.23 per share, $0.01 worse than the First Call consensus of $0.24; revenues rose 2.6% year/year to $366.3 mln, in-line with preannouncement. Co reaffirms guidance for FY09, sees EPS of $0.75-0.85 vs. $0.79 consensus.

6:07AM Sears Hldg misses by $0.68, misses on revs; announces $500 mln share repurchase (SHLD) 89.36 : Reports Q1 (Apr) loss of $0.53 per share, excluding non-recurring items, $0.68 worse than the First Call consensus of $0.15; revenues fell 5.8% year/year to $11.07 bln vs the $11.41 bln consensus. Board approves the repurchase of up to an additional $500 mln of common shares.

6:00AM Big Lots beats by $0.06, reports revs in-line; guides Q2 EPS in-line; guides FY08EPS above consensus (BIG) 28.53 : Reports Q1 (Apr) earnings of $0.42 per share, excludes discontinued operations, $.06 better than the First Call consensus of $0.36; revenues rose 2.1% year/year to $1.15 bln vs the $1.14 bln consensus. Co issues in-line guidance for Q2, sees EPS of $0.21-0.25, excluding non-recurring items, vs. $0.23 consensus. Co issues upside guidance for FY08 sees EPS of $1.80-1.90, excluding non-recurring items, vs. $1.78 consensus.

3:15AM Costco beats by $0.02, reports revs in-line (COST) 73.24 : Reports Q3 (May) earnings of $0.67 per share, $0.02 better than the First Call consensus of $0.65; revenues rose 13.4% year/year to $16.26 bln vs the $16.34 bln consensus.