6:08PM Cooper Industries sees Q4 EPS of $0.70-$0.80 vs $0.74 First Call consensus (CBE) 22.56 -1.58 : Co issues in-line guidance, sees Q4 EPS of $0.70-$0.80, ex-restructuring items, vs $0.74 consensus. Co states, "As outlined on our November 21st press release, we have seen extraordinary volatility in business conditions over the past few weeks, driven primarily by severe tightening in the credit markets, significant fluctuations in commodity prices and the rapid appreciation of the U.S. dollar. As a result, we have seen weak orders in both the Electrical and Tools businesses, particularly in the U.S. and Western Europe in the fourth quarter. Consequently, Cooper has taken additional measures that reduce our cost structure and lower our overall levels of inventory in preparation for what we expect to be a continued challenging business environment in 2009." Cooper also announces that it has acquired Cyme International, a power engineering software and services provider that enables utility engineers to design, analyze and optimize their networks.
5:30PM EXFO raises GAAP net earnings range for 1Q09; sees EPS of $0.04-$0.07 vs $0.03 First Call consensus (EXFO) 2.42 -0.02 : Co issues upside guidance for 1Q09, sees EPS of $0.04-$0.07 vs $0.03 First Call consensus, and vs previous forecast of ($0.03)-$0.01. Co also reaffirms Q1 rev guidance of $45-$47 mln vs $48.3 mln consensus. Given that the closing Canadian/US exchange rate was US$0.8083 in the 1Q09, compared to US$0.9411 in the previous qtr, the company raised its EPS guidance. The company expects to realize a pre-tax, foreign-exchange gain of about $4 mln.
5:10PM St. Jude Medical: In 8-K, company lowers Q4 EPS and revenue guidance (STJ) 26.80 -1.23 : In an 8-K, STJ lowers their Q4 EPS guidance to $0.56-$0.60 vs $0.61 First Call consensus, and guides Q4 revs to $1.058-$1.123 bln vs $1.127 bln consensus. Co issues downside guidance for FY09, sees EPS of $2.47-$2.52 vs $2.60 consensus. Co says the updated outlook assumes that the current exchange rate environment for all of the currencies affecting the operations of St. Jude Medical remains consistent through 2009. Specifically, for the two main currencies affecting the operations of the company, the Euro and the Yen, the company assumes that each Euro will translate into $1.25-$1.30 and that each 95-100 Yen will translate into one U.S. dollar.
4:46PM Skyworks lowers Q1 EPS and revs guidance (SWKS) 5.18 -0.21 : Co sees Q1 EPS of $0.15-0.17, down from prior guidance of $0.23, vs $0.23 First Call consensus; revs $210-215 mln, down from prior guidance of $240 mln, vs $239.75 mln First Call consensus. "We are lowering our guidance to reflect weakness in the handset and broader analog markets... Our 8 to 10% sequential revenue decline is being driven by recent customer inputs and bookings levels, which point to a broad-based slowdown in several of our end markets. Nevertheless, our diversification, market share gains and balance sheet strength are enabling us to maintain strong financial performance during the downturn."
4:36PM Shanda Interactive beats by $0.13, beats on revs (SNDA) 21.08 -0.38 : Reports Q3 (Sep) earnings of $0.68 per ADS, $0.13 better than the First Call consensus of $0.55; revenues rose 42.7% year/year to $137.3 mln vs the $131.9 mln consensus.
4:28PM Mosaic says due to soft market conditions, phosphate sales volumes for Q2 800,000 tonnes lower than Q1; co withdraws fiscal 2009 sales volume guidance (MOS) 25.40 : Co announces that due to soft market conditions, phosphate sales volumes for the second quarter were approximately 1.3 mln tonnes, or about 800,000 tonnes lower than the volume sold during the co's 1Q09. The average selling price for DAP during the quarter was within the co's estimated guidance range of $1,020 to $1,080 per tonne. However, phosphate gross margins are expected to be impacted due to high cost raw materials used to produce phosphates in the second quarter. Potash sales volumes for the Q2 were approximately 1.7 mln tonnes. The average MOP selling price was approximately $525 per tonne compared to the co's estimated guidance range of $560 to $620 per tonne during the Q2, primarily due to the mix of products sold internationally. "Several factors have impacted worldwide crop nutrient demand, including lower grain and oilseed prices, a late North American harvest, congested distribution supply chains, and the unprecedented global economic and credit downturn which has seen business moderate in nearly all sectors," stated Jim Prokopanko, President and Chief Executive Officer of Mosaic... As announced in October, Mosaic is reducing phosphate production by approximately one million tonnes through December 2008. In addition, the co announced that it is prepared to further reduce phosphate production by up to an additional one million tonnes during the remainder of fiscal 2009 if market conditions continue slower than normal. The co advised that 3Q09 sales volumes are expected to remain soft followed by a strong recovery in Q4 and that it expects to record an operating loss for the second quarter in its Offshore business segment due to inventory valuation adjustments. Mosaic further indicated that due to uncertainties in the global economy the co has withdrawn fiscal 2009 sales volume guidance for phosphates and potash. The Company said that it will resume providing sales volume guidance when the market returns to a more normalized condition.
1:40PM Thor Industries misses by $0.05, reports revs in-line (THO) 14.23 -1.41 : As mentioned at 13:38, co reports Q1 (Oct) earnings of $0.09 per share, $0.05 worse than the First Call consensus of $0.14; revenues fell 42.5% year/year to $438.8 mln vs the $439.2 mln consensus. "Cash, cash equivalents and investments increased to $299 mln from $265 mln last year. Our financial condition continues to be very strong." (stock is currently halted)
7:02AM UnitedHealth reaffirms FY08 & FY09 EPS guidance (UNH) 21.01 : Co reaffirms guidance for FY08 (Dec), sees EPS of $2.95-2.98 vs. $2.95 First Call consensus. Co reaffirms guidance for FY09 (Dec), sees EPS of $2.90-3.15 vs. $3.05 consensus.
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