6:09PM Tupperware beats by $0.06, reports revs in-line; guides Q4 EPS below consensus (TUP) 19.30 -0.36 : Reports Q3 (Sep) earnings of $0.47 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.41; revenues rose 12.8% year/year to $513.1 mln vs the $510.2 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.79-0.84, excluding non-recurring items, vs. $0.93 consensus. For 2009 and forward the guidance range for annual local currency sales increases is raised from 5-7% to 6-8%, although based on current foreign exchange rates, the negative impact on the 2009 versus 2008 comparison would be negative 9 percentage points. The outlook for local currency sales increases is 12-14% from the more than half of the co's sales that are generated in emerging market economies and is 1-2% in the remaining established market economies in which the co operates. The pretax return on sales guidance range is raised one-half percentage point from 9-10% to 9.5-10.5%. The income tax rate is expected to be in the low-to-mid 20 percent range. Based on current foreign exchange rates, the negative impact on the 2009 versus 2008 diluted earnings per share comparison would be $0.37-0.39. The $150 mln share repurchase authorization from May 2007 has been used to date to repurchase shares with proceeds from stock option exercises. In 2007 and through Q3 of 2008, $64 mln of such repurchases have been made. This program has now been accelerated to also include repurchases with a portion of cash generated by the business going forward such that the Company maintains its target debt-to-EBITDA ratio of 1.5 to 2.0X and remains in compliance with its debt covenants. Purchases are expected to be made beginning with about $10 mln Q4 of 2008 and about $40 mln in 2009.
5:45PM Norfolk Southern beats by $0.16, beats on revs (NSC) 53.87 -1.99 : Reports Q3 (Sep) earnings of $1.37 per share, $0.16 better than the First Call consensus of $1.21; revenues rose 23.0% year/year to $2.89 bln vs the $2.76 bln consensus. "Continued weakness in the automotive and housing-related industries, mostly offset by strength in coal shipments, contributed to a one percent reduction in traffic volume compared with the third quarter of 2007."
5:32PM Panera Bread beats by $0.03, reports revs in-line; guides Q4 EPS in-line; guides FY09 EPS in-line (PNRA) 41.09 -0.71 : Reports Q3 (Sep) earnings of $0.46 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.43; revenues rose 15.4% year/year to $315.2 mln vs the $317.9 mln consensus. Co reaffirms in-line guidance for Q4, sees EPS of $0.82-0.86 vs. $0.85 consensus. Co issues in-line guidance for FY09, sees EPS of $2.55-2.71 vs. $2.63 consensus.
5:06PM Boston Scientific beats by $0.05, reports revs in-line; guides Q4 EPS above consensus, revs in-line (BSX) 8.62 -0.28 : Reports Q3 (Sep) earnings of $0.16 per share, $0.05 better than the First Call consensus of $0.11; revenues fell 3.4% year/year to $1.98 bln vs the $1.97 bln consensus. Co issues mixed guidance for Q4, sees EPS of 0.18-0.23 vs. $0.15 consensus; sees Q4
revs of $1.965-2.08 bln vs. $2.05 bln consensus.
4:47PM Apple beats by $0.15, misses on revs; guides Q1 EPS below consensus, revs below consensus - Stock is halted (AAPL) 91.49 -6.95 : Reports Q4 (Sep) earnings of $1.26 per share, $0.15 better than the First Call consensus of $1.11; revenues rose 27.0% year/year to $7.89 bln vs the $8.05 bln consensus. Co reports Mac shipments 2.611 mln, iPhone shipments 6.892 mln and iPod shipments 11.052 mln.Co reports gross margin Q4 34.7% vs. guidance of ~31.5% and 32.3% First Call consensus. Co issues downside guidance for Q1, sees EPS of $1.06-1.35 vs. $1.65 consensus; sees Q1 revs of $9.0-10.0 bln vs. $10.57 bln consensus. Co said, "Looking ahead, visibility is low and forecasting is challenging and as a result we are going to be prudent in predicting the December quarter". (Stock is halted, resumes at 17:10 EST.)
4:45PM Solera issues preliminary Q1 results (SLH) 21.25 -0.53 : Co issues preliminary Q1 (Sep) results, sees EPS of $0.43 vs. $0.33 First Call consensus; sees Q1 (Sep) revs of $143 vs. $134.39 mln consensus. Co issues mixed guidance for FY09 (Jun), sees EPS of $1.56-1.60 up from $1.45-1.55 vs. $1.52 consensus; sees FY09 (Jun) revs of $542-548 mln down from $570-580 mln vs. $579.22 mln consensus.
4:39PM Yahoo! reports EPS in-line, misses on revs (YHOO) 12.07 -0.79 : Reports Q3 (Sep) earnings of $0.09 per share, excluding non-recurring items, in-line with the First Call consensus of $0.09; revenues rose 3.3% year/year to $1.32 bln vs the $1.37 bln consensus. Operating Income before Depr, Amort and SBC for Q3 $410 mln vs. guidance of $405-$465 mln; Free cash flow for Q3 $215 mln, a 31% decrease compared to $310 mln for the same period of 2007... Q4 sees operating income in the range of $490-$570 mln; Y08 operating guidance narrowed to $1.862-$1.942 bln from $1.825-$1.975 bln. Co sees Q4 revenues (excluding TAC) in the range of $1.773-1.973 bln, not comparable to First Call consensus of $1.513 bln; sees Y08 revenues in the range of $7.175-7.375 bln, not comparable to First Call consensus of $5.578 bln.
4:34PM QLogic beats by $0.03, reports revs in-line (QLGC) 12.55 -1.08 : Reports Q2 (Sep) earnings of $0.34 per share, $0.03 better than the First Call consensus of $0.31; revenues rose 22.0% year/year to $171.2 mln vs the $169.8 mln consensus. Co states, "We are very pleased with our strong financial performance and record revenue during the second quarter despite significant challenges as a result of the current macro-economic environment...Second quarter highlights include the continued ramp of our 8Gb Fibre Channel HBAs and initial revenue from our FCoE converged network adapters."
4:21PM CSG Systems beats by $0.02, misses on revs; guides FY08 EPS above consensus, revs in-line (CSGS) 14.14 -0.58 : Reports Q3 (Sep) earnings of $0.40 per share, $0.02 better than the First Call consensus of $0.38; revenues rose 9.7% year/year to $118 mln vs the $119.3 mln consensus. Co issues mixed guidance for FY08, sees EPS of $1.64-1.66 vs. $1.61 consensus; sees FY08 revs of $470-472 vs. $471.20 mln consensus.
4:19PM Coventry Health Care misses by $0.48, misses on revs; guides Q4 revs below consensus (CVH) 28.49 +0.49 : Reports Q3 (Sep) earnings of $0.58 per share, including $0.15 of charges, $0.48 worse than the First Call consensus of $1.06; revenues rose 18.0% year/year to $2.97 bln vs the $3.03 bln consensus. Co issues downside guidance for Q4, sees Q4 revs of $3 bln vs. $3.08 bln consensus. Co sees GAAP diluted EPS of $0.60-0.62 in Q4. "Our results for 2008 are unacceptable, and a great disappointment to me and the entire Company," said Dale B. Wolf, chief executive officer of Coventry. "However, we have identified and understand the issues that have affected our results. We have implemented a corrective action plan which we expect will increasingly be reflected in the Company's results throughout 2009 and fully realized in 2010. Most importantly, I continue to have confidence in our future prospects, both strategically and financially."
4:16PM Cree misses by $0.01, reports revs in-line; guides Q2 EPS above consensus, revs below consensus (CREE) 18.57 -2.25 : Reports Q1 (Sep) earnings of $0.10 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.11; revenues rose 23.8% year/year to $140.4 mln vs the $139.6 mln consensus. Co issues mixed guidance for Q2, sees EPS of $0.15-0.16 vs. $0.11 consensus; sees Q2 revs of $142-146 vs. $146.49 mln consensus.
4:12PM Illumina beats by $0.06, beats on revs; guides Q4 EPS above consensus, revs in-line; guides FY08 EPS above consensus, revs in-line (ILMN) 32.32 +0.13 : Reports Q3 (Sep) earnings of $0.22 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.16; revenues rose 54.2% year/year to $150.3 mln vs the $146 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.22-0.24, excluding non-recurring items, vs. $0.18 consensus; sees Q4 revs of $152-156 mln vs. $153.40 mln consensus. Co issues mixed guidance for FY08, sees EPS of $0.84-0.87, excluding non-recurring items, vs. $0.63 consensus; sees FY08 revs of $564-568 mln vs. $562.22 mln consensus.
4:10PM VMware beats by $0.04, beats on revs; reaffirms FY08 rev guidance (VMW) 18.73 -1.91 : Reports Q3 (Sep) earnings of $0.24 per share, $0.04 better than the First Call consensus of $0.20; revenues rose 32.1% year/year to $472 mln vs the $462.7 mln consensus. Q3 non-GAAP operating margin 24.4% vs. guidance of 20%-22% and 21.2% First Call consensus. Co reaffirms FY08 rev guidance, sees FY08 revs up 42-45% YoY, which equates to ~$1.88-1.92 bln vs. $1.88 bln consensus. Co cautions of an increased likelihood that 2008 revenue will be at the lower end of the guidance range. Co expects GAAP operating margin for Q4 to be between 16-18%. This guidance includes stock-based compensation, employer payroll tax on employee stock transactions, and amortization of intangible assets and capitalized software development costs which are targeted at 6% of projected revenue. 2008 GAAP tax rate is expected to be between 13-15% and reflects the reinstatement of the U.S. Federal research tax credit.
4:10PM Sigma-Aldrich misses by $0.01, misses on revs; reaffirms FY08 EPS guidance; raises buyback (SIAL) : Reports Q3 (Sep) earnings of $0.64 per share, $0.01 worse than the First Call consensus of $0.65; revenues rose 7.4% year/year to $540.6 mln vs the $564.1 mln consensus. Co reaffirms guidance for FY08, sees EPS of $2.62-2.72 vs. $2.68 consensus. Co increases its buyback authorization by 10 mln shares
4:09PM Amylin Pharms misses by $0.07, misses on revs (AMLN) 12.72 -0.60 : Reports Q3 (Sep) loss of $0.57 per share, including an impairment loss on investments of $0.11 per share, $0.07 worse than the First Call consensus of ($0.50); revenues rose 14.9% year/year to $218.4 mln vs the $229 mln consensus.
4:03PM Cerner beats by $0.01, reports revs in-line; issues Q4 guidance (CERN) : Reports Q3 (Sep) earnings of $0.57 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.56; revenues rose 13.4% year/year to $422.7 mln vs the $420.8 mln consensus. Co issues upside guidance for Q4 (Dec), sees EPS of $0.58-0.64 vs. $0.64 consensus; sees revs of $435-460 mln vs. $453.05 mln consensus. Cerner expects new business bookings in the fourth quarter of 2008 to be between $410 million and $440 million.
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