7:10PM Brady sees FY09 EPS and revs above consensus (BRC) 36.97 -0.44 : Co guides FY09 in-line with consensus; Co sees FY09 EPS of $2.63-2.75 vs 2.68 consensus; sees revs of $1.56-1.59 bln vs $1.58 bln. Co says, "While we continue to believe that a target of 12 percent net income as a percentage of sales is still possible in our business, we do not believe it is realistic to think that the current economic climate will support sufficient core business growth needed to reach this by 2010 as discussed in prior communications. We will now be focused on delivering 10 to 15 percent earnings-per-share growth through the current business cycle."
6:02PM Mexco Energy reports Q4 EPS of $0.27 vs $0.10 in the prior year; revs grew 64.9% to $1.2 mln (MXC) 27.81 +0.23 :
4:31PM UPS sees Q2 EPS of $0.83-0.88, down from $0.97-1.04 vs $0.97 First Call consensus (UPS) 66.26 -0.11 : Slow U.S. economic growth and an unprecedented increase in the cost of fuel have resulted in lower-than-expected U.S. package volume and an accelerating contraction in the use of premium air products. In addition, the anemic U.S. economy is negatively impacting package volume into the United States, affecting results for the International segment. Performance in the Supply Chain & Freight segment is continuing to exceed expectations. (stock is currently halted)
11:59AM Rio Tinto PLC confirms 2008 iron ore price settlement (RTP) 468.31 -10.69 : Co confirms that its Iron Ore subsidiary Hamersley Iron reached agreement with China's Baosteel on the price for Hamersley iron ore deliveries for the contract year commencing April 1, 2008. Under this agreement, the new prices for Hamersley will be: Pilbara Blend Fines/ Yandicoogina Fines US cents 144.66 per dry metric tonne unit Pilbara Blend Lump US cents 201.69 per dry metric tonne unit. "The agreement reflects the continuing very strong demand in the market for Hamersley's products. The agreement builds on the valuation premium for Rio Tinto's Pilbara iron ore businesses, the importance of which is highlighted as we move towards our 320 and 420 mln tonne per annum goals from expected capacity of about 200 mln tonnes in 2008."
9:01AM China Security and Surveillance announces recent notable business developments and reiterates Q2 and FY08 rev and EPS estimates (CSR) 15.11 : Co announces recent notable business developments, with two new project wins in Beijing, Safe City Project updates in Kunming City and Yinchuan City, and a Strategic Partnership Memorandum with IBM Global Financing. Together, these two new projects in Beijing are valued at ~$8.0 mln. The co expects to begin realizing revenues from these two projects in the fourth quarter of 2008. In addition, the co is pleased to announce signing a Strategic Partnership Memorandum with IBM Global Financing, a division of IBM (IBM), to obtain lease financing facilities for Safe City projects within China. The co also reiterates its second quarter and full year of 2008 financial forecast. Co sees Q2 $0.36-0.38 vs $0.37 First Call consensus; revs $85-87 mln vs $86.33 mln First Call consensus and sees FY08 $1.59-1.76 vs $1.67 First Call consensus; sees revs $380-400 mln vs $392.84 mln First Call consensus.
8:36AM Kensey 2008 profit outlook below analyst estimates: Kensey Nash issues upside guidance for Q4, Q1, Y09; announces additional stock repurchase (KNSY) 32.66 : Co issues upside guidance for Q4 (Jun), sees EPS of $0.32-0.33, excluding non-recurring items, vs. $0.29 First Call consensus; sees Q4 (Jun) revs of $21-21.3 mln vs. $20.70 mln consensus. Co issues upside guidance for Q1 (Sep), sees EPS of $0.34-0.36 vs. $0.32 consensus; sees Q1 (Sep) revs of $19.4-19.9 mln vs. $18.89 mln consensus. Co issues guidance for FY09 (Jun), sees EPS of $1.57-1.65 vs. $1.48 consensus; sees FY09 (Jun) revs of $86.7-89.0 mln vs. $88.95 mln consensus. Co announces that its board of directors has expanded its existing $25.0 mln stock repurchase program in order to provide the co with more flexibility to buy its own shares. The new program allows the co to repurchase up to an additional $10.0 mln of its issued and outstanding shares of common stock and has no expiration. "Our Biomaterials business, notably the orthopaedic segment, continued to outperform our target of 25% annual growth, which we provided at the start of this fiscal year. We completed the sale of our Endovascular business in the fourth quarter and are looking forward to a successful strategic relationship with Spectranetics."
8:21AM Megellan Midstream (MMP) raising Q2 and annual EPS guidance: Magellan Midstream assets remain fully operational despite Midwest flooding; Increases earnings guidance for quarter and year (MMP) 36.29 : Co announces that its refined petroleum products terminal and pipeline assets remain fully operational, despite flooding in certain Midwest areas. Based on operating results so far this year, mgmt is increasing its 2Q08 net income per unit guidance to $0.76 from $0.66 and vs. $0.68 consensus; and its annual guidance to $3.13 from $3.03 and vs. $2.84 consensus. Co states, while pipeline volumes are expected to be lower than previously forecasted, mgmt currently expects them to be in-line with 2007 volumes for both second quarter and full-year 2008. Higher shipments of liquefied petroleum gases are expected to offset lower refined products volumes, which are projected to decline about 3% during second quarter and 1% for the year compared to the related 2007 period primarily due to high fuel prices, the potential impact of recent wet conditions in the Midwest that could reduce farming diesel demand and higher ethanol blending. However, increases in transportation tariffs and higher profits from commodity-related activities are expected to benefit the quarter and year.
8:02AM Walgreen misses by $0.01, reports revs in-line (WAG) 35.07 : Reports Q3 (May) earnings of $0.58 per share, $0.01 worse than the First Call consensus of $0.59; revenues rose 9.6% year/year to $15.02 bln vs the $15.11 bln consensus.
6:28AM Bunge raises guidance for FY08 above consensus (BG) 122.17 : Co issues upside guidance for FY08 (Dec), sees EPS of $9.35-9.65 vs. $7.70 First Call consensus, prior guidance $7.10-7.40. Co cites better than expected performance in their agribusiness and fertilizer segments. Corn Products to be acquired by Bunge for $56/share
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