Earnings - 9th Jan 2009

9:02AM Stryker guides revs in-line for Q4, reaffrirms FY08 EPS guidance; issues in-line guidance for FY09 (SYK) 38.58 : Co issues in-line guidance for Q4 (Dec), sees Q4 (Dec) revs of $1.718 bln vs. $1.7 bln First Call consensus. Co reaffirms guidance for FY08 (Dec), sees EPS of $2.82-2.84 vs. $2.83 consensus. Co issues in-line guidance for FY09 (Dec), sees EPS of $3.12-3.22 vs. $3.15 consensus.

8:36AM CVS Caremark guides below consensus for Q1 & FY09 (CVS) 29.34 : Co issuesdownside guidance for Q1 (Mar), sees EPS of $0.53-0.55 vs. $0.63 First Call consensus. Co issues downside guidance for FY09 (Dec), sees EPS of $2.53-2.61 vs. $2.74 consensus.

8:01AM AsiaInfo lowers EPS guidance, raises rev guidance; sees Q4 EPS of $0.03-0.04 vs $0.17 consensus; revs $48-51 mln vs $48.16 mln consensus (ASIA) 10.98 : Co sees Q4 EPS of $0.03-0.04 including recognition of $6.6 mln, or $0.15 per basic share, non-cash impairment charges to earnings in Q4 of 2008 related to certain short-term investments in stock funds and long-term investments, vs $0.17 consensus. Co raises Q4 rev guidance, sees revs of $48-51 mln vs $48.16 mln consensus; which represents a 37% to 45% y/y increase in fourth quarter net revenue.

8:00AM Best Buy narrows FY09 guidance; reports Dec revenue of $7.5 bln, market share gains (BBY) 29.65 : Best Buy updates its FY09 (ends Feb) EPS guidance to $2.50-2.70, which excludes the $111 mln investment impairment charge taken during Q3 (Nov) and any other restructuring charges to streamline operations in preparation for a challenging fiscal 2010 environment. This new guidance represents a narrowing of its prior range of $2.30-2.90. Consensus is $2.61. The guidance assumes a comparable store sales decline of 2-3% for FY09. Co also reported that December revenue rose 4% to $7.5 bln, which was in line with company expectations. Gains from the inclusion of Best Buy Europe's revenue and the net addition of 194 new stores were largely offset by a 6.5% decline in comparable store sales and the unfavorable impact of fluctuations in foreign currency exchange rates. Co says "While the environment continues to be as challenging as we expected, consumers are being drawn to brands that they trust, and they are responding to our customer-centric model. In this light, we believe the market share gains we've been making will be sustained."

7:07AM Emergent Biosolutions lowers FY08, FY09 rev guidance; sees FY09 revs of $225-240 mln vs $240.43 First Call Consensus (EBS) 25.79 : Co issues downside guidance for FY08 (Dec), sees FY08 (Dec) revs of $179 vs. $187.23 mln First Call consensus; co notes An additional $12 mln of BioThrax revenue originally planned for the fourth quarter of 2008 is expected to be recognized in 1Q 2009. Co issues downside guidance for FY09 (Dec), sees FY09 (Dec) revs of $225-240 vs. $240.43 mln consensus; For 2009, co is forecasting 25% to 35% growth in total revenue.

6:41AM ICON plc sees FY09 EPS of $1.40-1.52 vs. $1.55 First Call consensus; guides down for FY09 (Dec) revs, sees $930-980 vs. $1.03 bln consensus (ICLR) 20.46 : Co issues guidance for FY09 (Dec), sees EPS of $1.40-1.52 vs. $1.55 First Call consensus; issues downside guidance for FY09 (Dec) revs; sees $930-980 vs. $1.03 bln consensus.

6:34AM Donnelley & Sons guides below consensus for Q4 (RRD) 15.04 : Co issuesdownside guidance for Q4 (Dec), sees EPS of $0.51-0.61, excluding non-recurring items, vs. $0.78 First Call consensus. Board of Directors declares a regular quarterly dividend of 26 cents per common share and currently plans to maintain present quarterly dividend. "We believe that the rate of economic change remains elevated... As a consequence of the unpredictable global environment and its potential impacts on competitors and customers, we do not expect to provide full-year earnings per share guidance for 2009 on our February 25 conference call. However, we look forward to providing detail behind our strategic and operational plans at that time."

5:11AM AZZ Inc. beats by $0.07, misses on revs; guides FY09 EPS above consensus, revs in-line (AZZ) : Reports Q3 (Nov) earnings of $0.88 per share, $0.07 better than the First Call consensus of $0.81; revenues rose 25.8% year/year to $108.9 mln vs the $113 mln consensus. Co issues mixed guidance for FY09, sees EPS of $3.35-3.45 vs. $3.23 consensus; sees FY09 revs of $420.0-430.0 mln vs. $423.11 mln consensus.