Earnings - 21st May 2009

4:20PM Safe Bulkers beats by $0.50, misses on revs (SB) 7.06 -0.64 : Reports Q1 (Mar) earnings of $1.14 per share, $0.50 better than the First Call consensus of $0.64; revenues fell 4.9% year/year to $46.9 mln vs the $50.5 mln consensus. The increase in net income is mainly attributable to early redelivery income, a foreign exchange gain and net revenue. The Company operated 12.53 vessels on average during the first quarter of 2009 earning a Time Charter Equivalent ("TCE") rate of $41,486 compared to 11 vessels and a TCE rate of $49,692 during the first quarter of 2008.

4:15PM Salesforce.com beats by $0.04, reports revs in-line; guides mixed Q2; raises FY10 EPS, lowers FY10 revs (CRM) 39.65 -0.62 : Reports Q1 (Apr) earnings of $0.15 per share, $0.04 better than the First Call consensus of $0.11; revenues rose 23.1% year/year to $304.9 mln vs the $304.7 mln consensus. Co issues mixed guidance for Q2, sees EPS of $0.14-0.15 vs. $0.13 consensus; sees Q2 revs of $312-313 mln vs. $319.22 mln consensus. Co issues mixed guidance for FY10, sees EPS of $0.59-0.60 vs. $0.55 consensus, up from previous guidance of $0.54-0.55; sees FY10 revs of $1.24-1.27 bln vs. $1.31 bln consensus, down from previous guidance of $1.30-1.33 bln. "In a tough IT spending environment, we added a first quarter record 3,900 net new customers to bring our total to over 59,000, and strong cost controls enabled us to raise our full year earnings guidance."

4:10PM LDK Solar misses by $0.13, beats on revs (LDK) 9.30 -0.55 : Reports Q1 (Mar) loss of $0.21 per share, $0.13 worse than the First Call consensus of ($0.08); revenues fell 33.6% year/year to $283.3 mln vs the $240 mln consensus. Gross margin for 1Q09 was 1.7%, compared to negative 49.6% in 4Q08 and 27.7% in the first quarter of fiscal 2008. For 2Q09, LDK estimates its wafer shipments between 200 MW to 220 MW. Co states, "...We continue to adjust our expansion plans in order to most effectively reduce near-term capital expenditure outlays and to best align with the decrease in demand seen industry-wide. We continued to ramp polysilicon production in our 1,000 MT polysilicon plant and are pleased with the progress in the construction our 15,000 MT plant and look forward to the increasing cost savings that in-house polysilicon production will afford as our polysilicon production grows."

4:09PM Autodesk beats by $0.10, beats on revs; guides Q2 EPS above consensus, revs in-line (ADSK) 18.83 -0.31 : Reports Q1 (Apr) earnings of $0.18 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.08; revenues fell 28.9% year/year to $425.8 mln vs the $419.1 mln consensus. Co issues mixed guidance for Q2, sees EPS of $0.15-0.20, excluding non-recurring items, vs. $0.14 consensus; sees Q2 revs of $395-420 mln vs. $413.01 mln consensus. Autodesk began implementing its new expense reduction plan, which was announced in April. The plan is anticipated to result in pre-tax cost savings of approximately $120 million in fiscal 2010. Combined with the expense reduction initiatives announced in January, Autodesk anticipates achieving approximately $250 million in total cost savings in fiscal 2010, as compared to fiscal 2009.

4:05PM Aeropostale beats by $0.01, reports revs in-line; guides Q2 EPS above consensus (ARO) 32.47 -0.16 : Reports Q1 (Apr) earnings of $0.49 per share, excluding $0.02 in non-recurring items, $0.01 better than the First Call consensus of $0.48; revenues rose 21.3% year/year to $408 mln vs the $404.7 mln consensus. Co issues upside guidancefor Q2, sees EPS of $0.46-0.48, excluding $0.03 in non-recurring items, vs. $0.37 consensus. Same store sales for the first quarter increased 11%, compared to an increase of 10% in the year-ago period.

4:05PM Alkermes misses by $0.02, misses on revs; guides FY10 revs below consensus (ALKS) 8.50 -0.31 : Reports Q4 (Mar) loss of $0.14 per share, $0.02 worse thanthe First Call consensus of ($0.12); revenues fell 29.7% year/year to $43.9 mln vs the $44.6 mln consensus. Co issues downside guidance for FY10, sees FY10 revs of $182-197 mln vs. $205.84 mln consensus.

4:04PM Dress Barn beats by $0.08, beats on revs; guides FY09 EPS above consensus (DBRN) 14.85 +0.02 : Reports Q3 (Apr) earnings of $0.39 per share, $0.08 better than the First Call consensus of $0.31; revenues rose 6.6% year/year to $375.7 mln vs the $362.3 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.00-$1.05 vs. $0.88 consensus. Co says, "This estimate is based upon various assumptions for the fiscal fourth quarter including flat to a low single digit increase in comparable store sales and average diluted shares for the earnings per share calculation of approximately 64 million."

9:17AM ReneSola beats by $0.01, misses on revs; guides FY09 revs below consensus (SOL) 3.70 : Reports Q1 (Mar) earnings of $0.02 per share, $0.01 better thanthe First Call consensus of $0.01. Co issues downside guidance for FY09, sees FY09 revs of $500-550 mln vs. $585.70 mln consensus. Co's production costs were reduced to US$0.36 per watt and our silicon consumption rate fell to an average of 6.0 grams per watt during 1Q09. Operating margin for 1Q09 was negative 54.6%, compared to negative 90.2% for Q4 2008 and positive 18.9% for 1Q08. Excluding the inventory write-down, adjusted operating margin for Q1 2009 was 9.1%. ReneSola's wholly owned subsidiary Zhejiang Yuhui Solar Energy Source Co., Ltd entered into an agreement on May 20, 2009 to acquire the entire issued share capital of solar cell and module manufacturer, Wuxi Jiacheng Solar Energy Technology Co. The total consideration for the acquisition was RMB 118 mln, paid in cash.

8:36AM Barnes & Noble beats by $0.11, beats on revs; guides Q2 EPS above consensus; guides FY10 EPS above consensus (BKS) 23.89 : Reports Q1 (Apr) loss of $0.04 per share, $0.11 better than the First Call consensus of ($0.15); revenues fell 4.4% year/year to $1.1 bln vs the $1.08 bln consensus, with comparable store sales decreasing 5.7% for the quarter, slightly better than guidance for a decrease of 6-9%. Co issues upside guidance for Q2, sees EPS of $0.05-0.15 vs. $0.03 consensus; the co expects Q2 comparable store sales to decline 5-7%. Co issues upside guidance for FY10, sees EPS of $1.10-1.40 vs. $1.07 consensus, from previous guidance of $0.95-1.25; the co now expects FY10 comparable store sales to decline 3-5%, better than previous guidance for a comparable store sales decline of 4-6%.

8:34AM Gamestop reports EPS in-line, revs in-line; guides Q2 EPS below consensus; reaffirms FY10 EPS guidance (GME) 26.47 : Reports Q1 (Apr) earnings of $0.42 per share,in-line with the First Call consensus of $0.42; revenues rose 9.2% year/year to $1.98 bln vs the $2 bln consensus. Co issues downside guidance for Q2, sees EPS of $0.28-0.33 vs. $0.40 consensus. Q2 comparable store sales are projected to decline by 8% to 11%, due to an unfavorable comparison to the 20% increase in same store sales in the prior year quarter, declining new console unit sales, and the impact of government stimulus checks issued last year.  Co reaffirms guidance for FY10, sees EPS of $2.83-2.93 vs. $2.87 consensus. "Although new video game software sales declined by 2.8%, lower-priced used products grew a robust 31.9%, illustrating that value is becoming more important to our customers... In the second quarter, like the first, we face very strong comparisons to the prior year period due to the unprecedented number of blockbuster titles released in the first half of 2008 and a significantly more brittle global economy. We do expect the back half of this year to be stronger than the first half due to a full and wide-ranging new title lineup. All together, this places us in a prime position to capitalize on the growth in the market in the fall and holiday seasons."

8:32AM Toro beats by $0.10, misses on revs; guides FY09 EPS in-line (TTC) 27.99 : Reports Q2 (Apr) earnings of $1.00 per share, $0.10 better than the First Call consensus of $0.90; revenues fell 21.7% year/year to $499.9 mln vs the $507.7 mln consensus. Co issuesin-line guidance for FY09, sees EPS of $1.60-1.80 vs. $1.64 consensus. "While there are forecasts of the economic environment improving by the end of 2009, we expect that would have little impact on our fiscal year which ends in October," said Hoffman. Given the ongoing global recession, the co has adjusted its outlook for fiscal 2009 and now expects fiscal 2009 revenues to decline about 18% from fiscal 2008. Co also said that shipments during the quarter to both the professional and residential markets declined due to the impact of the ongoing global recession resulting in lower golf equipment and project spending, continued weakness in commercial construction and housing, and soft consumer demand.

8:32AM Ross Stores reports EPS in-line, beats on revs; guides Q2 EPS above consensus; guides FY10 EPS above consensus (ROST) 35.81 : Reports Q1 (Apr) earnings of $0.72 per share, in-line with the First Call consensus of $0.72; revenues rose 8.7% year/year to $1.69 bln vs the $1.66 bln consensus. Co issues upside guidance for Q2, sees EPS of $0.60-$0.63 vs. $0.54 consensus. Co issues upside guidance for FY10, sees EPS of $2.62-$2.72 vs. $2.54 consensus.

7:33AM Hormel Foods beats by $0.09, misses on revs, sees FY09 EPS at upper end of range (HRL) 32.95 : Reports Q2 (Apr) earnings of $0.59 per share, $0.09 better than the First Call consensus of $0.50; revenues rose 19.9% year/year to $1.6 bln vs the $1.68 bln consensus. Co sees FY09 EPS at upper end of previously announced guidance range of $2.15-2.25.

7:04AM Brocade beats by $0.02, beats on revs (BRCD) 6.23 : Reports Q2 (Apr) earnings of $0.11 per share, $0.02 better than the First Call consensus of $0.09; revenues rose 42.7% year/year to $506.3 mln vs the $476.4 mln consensus. Non-GAAP gross margin was 56.2% vs 59.7% in Q109 and 61.1% in Q208. Non-GAAP operating margin was 18.8% vs 26.1% in Q109 and 22.9% in Q208.

7:02AM The Buckle beats by $0.08, beats on revs (BKE) 32.83 : Reports Q1 (Apr) earnings of $0.58 per share, $0.08 better than the First Call consensus of $0.50; revenues rose 24.6% year/year to $199.7 mln vs the $195.4 mln consensus. Comparable store net sales for the thirteen-week period ended May 2 increased 17.7% from the prior year period. Online sales (not included in comparable store sales) increased 75.7% to $11.7 mln for the thirteen week period.

6:04AM Stage Stores beats by $0.01, reports revs in-line; guides Q2 EPS above consensus; guides FY10 EPS in-line (SSI) 11.55 : Reports Q1 (Apr) loss of $0.02 per share, $0.01 better than the First Call consensus of ($0.03); revenues fell 5.6% year/year to $333.6 mln vs the $336.2 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.20-0.27 vs. $0.09 consensus. Co issues in-line guidance for FY10, sees EPS of $0.40-0.65 (previous $0.35-0.60) vs. $0.49 consensus. Co projects Q209 comparable store sales decrease of 6.0-9.0%. For FY09, co projects comparable store sales decrease of 5.5-8.0%.

Earnings - 12th March 2009

4:09PM Smith & Wesson beats by $0.03, beats on revs (SWHC) 4.59 +0.61 : Reports Q3 (Jan) earnings of $0.05 per share, $0.03 better than the First Call consensus of $0.02; revenues rose 25.9% year/year to $83.7 mln vs the $74.1 mln consensus. Co says "While our hunting business continues to suffer in the current economic environment, the market for hunting rifles in a healthy economy is a sizeable one. In addition, this portion of our business produces barrels for our tactical rifles, products that are clearly in very high demand right now. Finally, the barrel manufacturing expertise we possess via our hunting business defines us as a firearms manufacturer with a full portfolio of products and capabilities, an important distinction when seeking business from the federal government and military markets. For these reasons, we continued to selectively invest in our hunting business while focusing on reducing its cost structure. During the third quarter, we implemented a reduction in force and a work furlough at our Rochester, New Hampshire factory. At the same time, we launched the T/C Venture bolt-action hunting rifle at this year's SHOT Show..."

4:02PM Aeropostale beats by $0.01, beats on revs; guides Q1 EPS in-line with consensus (ARO) 25.13 +0.76 : Reports Q4 (Jan) earnings of $1.01 per share, $0.01 better than the First Call consensus of $1.00; revenues rose 16.7% year/year to $690 mln vs the $681.7 mln consensus. Co issues guidance for Q1, sees EPS of $0.25-0.27, ex items vs. $0.25 consensus. The Company ended fiscal 2008 with cash and cash equivalents of $228.5 million, compared to $111.9 million last year. The Company currently has no debt outstanding. As of January 31, 2009, the Company had $150.0 million available under its revolving credit facility.

8:03AM ReneSola reports wider than expected loss, revs in-line; guides FY08 revs in-line (SOL) 2.27 : Reports Q4 (Dec) loss of $1.84 per ADS, $0.41 worse than the First Call consensus of ($1.43); revenues rose 65.2% year/year to $158.6 mln vs the $157.7 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $650-700 mln vs. $666.50 mln consensus.  Co expects 2009 full year wafer shipment of between 620 MW to 670 MW. The co has pre-sold output of approximately 550 MW of wafers out of the 620 MW to 670 MW projected output for 2009. The co expects to achieve wafer manufacturing capacity of 825 MW by July 2009 with the implementation of additional production capacity expansion to be determined by market demand. "Looking ahead to 2009 and beyond, we believe that although the solar industry is experiencing short term demand weakness, the declining ASPs and other production costs along the solar value chain are improving end-user affordability and should ultimately increase demand for solar generated electricity. We remain confident that we can continue to reduce production costs while improving operational efficiency to stay ahead of the competition."

7:22AM Global Sources beats by $0.01, beats on revs (GSOL) 3.57 : Reports Q4 (Dec) earnings of $0.14 per share, $0.01 better than the First Call consensus of $0.13; revenues rose 6.9% year/year to $65 mln vs the $63.3 mln consensus. Co says, "The dramatic slowdown in global consumer demand has led to declining revenue and profitability. The business climate remains uncertain; as such, we have suspended guidance. Nonetheless, we continue to be committed to profitability. We have a solid operating model, which is supported by a very strong balance sheet, comprised of a liquid and unencumbered cash position, and no debt. Furthermore, our collections remain very healthy, with only 12 days sales outstanding."

7:04AM Smithfield Foods beats by $0.12, misses on revs (SFD) 5.95 : Reports Q3 (Jan) loss of $0.15 per share, $0.12 better than the First Call consensus of ($0.27); revenues rose 7.3% year/year to $3.35 bln vs the $3.41 bln consensus. Co says, "Looking forward, I fully expect the fourth quarter to be another difficult quarter with continued substantial losses in hog production. However, I am reasonably optimistic about fiscal 2010 in spite of the current recession. Our raising costs should decline significantly and the impact of reduced protein supplies of all types should bode well for hog prices and meat prices. Our packaged meats business is improving very nicely and I expect this to continue... All of this is encouraging and leads one to believe that fiscal 2010 should be a much better year for the co."

Earnings - 3rd March 2009

4:05PM Masimo beats by $0.07, beats on revs; guides FY09 revs in-line (MASI) 23.00 +0.65 : Reports Q4 (Dec) earnings of $0.24 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.17; revenues rose 19.9% year/year to $83.1 mln vs the $80.4 mln consensus. Co issues guidance for FY09, sees EPS of $0.83-0.87, including a reduction in y/y royalty payments, may not be comparable to $0.81 consensus; sees FY09 revs of $352-361 mln vs. $357.32 mln consensus.

4:02PM Netezza beats by $0.05, beats on revs (NZ) 5.80 +0.04 : Reports Q4 (Jan) earnings of $0.09 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.04; revenues rose 28.1% year/year to $50.6 mln vs the $49.8 mln consensus. "We believe that we have positioned the company for substantial growth when the external macro conditions improve. However, while our very near term visibility remains good, we are not in a position to comment on the year's outlook, given the macro economic uncertainty that is evident today in the marketplace."

4:02PM Wilson Greatbatch beats by $0.13, beats on revs; guides FY09 revs in-line (GB) 17.56 -0.47 : Reports Q4 (Dec) earnings of $0.50 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.37; revenues rose 73.7% year/year to $146.6 mln vs the $132.2 mln consensus. Co issues in-line guidance for FY09, sees FY09 revs of $550-600 mln vs. $571.35 mln consensus.

9:38AM ReneSola sees Q4 revs $157-159 mln vs $153.63 mln First Call consensus and sees FY09 revs $650-700 mln vs $759.09 mln First Call consensus (SOL) 2.47 +0.26 : Co estimates Q4 2008 net revenues in the range of $157-159 mln and production output of ~112 megawatts (MW). For the fourth quarter 2008, co expects to record write-downs of ~$130-$140 mln against the net realizable value of inventories as a result of the rapid decrease in the market price and value of feedstock such as polysilicon and scrap silicon materials, work in progress materials and finished solar wafers. As a result of the write-downs, co expects to report a net loss in the range of $125-$130 mln for the quarter. Co also sees FY09 revs of $650-700 mln vs $759.09 mln First Call consensus... "We have witnessed significant downward pressure on wafer ASPs and gross margin since late 2008 as industry demand has been negatively impacted by the broader repercussions of the financial crisis and seasonality... The price recalibrations witnessed from the fourth quarter of 2008 have resulted in margin compression and inventory write-downs for many participants in the industry. However, the affordability, competitiveness and popularity of solar energy should rise exponentially as solar generated electricity nears grid parity. Despite recent challenges, we remain confident in the mid- to long-term prospects of the industry and believe that ReneSola is well positioned to ride out the storm through our continual focus on cost reduction, prudent expansion in line with market demand, solid cash position, and significant pre-sold output for the year."

7:04AM Trina Solar beats by $0.01, beats on revs (TSL) 5.96 : Reports Q4 (Dec) loss of $0.03 per share, $0.01 better than the First Call consensus of ($0.04); revenues rose 113.3% year/year to $216.3 mln vs the $201.3 mln consensus. While the co typically provides a range of guidance for future performance, the current global economic and financial climate makes such predictions difficult. For the first quarter of 2009, the co expects to ship between 50 MW to 55 MW of PV modules. The co believes gross margin for the first quarter will likely be between 15% and 17%. For the full year of 2009 the co expects total PV module shipments between 350 MW to 400 MW, representing an increase of 74% to 99% from 2008.

7:03AM Seaspan beats by $0.02, beats on revs (SSW) 7.75 : Reports Q4 (Dec) earnings of $0.31 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.29; revenues rose 14.0% year/year to $62.7 mln vs the $61.3 mln consensus.

7:03AM AutoZone beats by $0.18, beats on revs (AZO) 140.03 : Reports Q2 (Feb) earnings of $2.03 per share, $0.18 better than the First Call consensus of $1.85; revenues rose 8.1% year/year to $1.45 bln vs the $1.38 bln consensus. Co said, "During these challenging economic times, we believe our merchandise and service offerings provide a compelling shopping experience for both our do-it-yourself and professional customers. We remain committed to growing our business through a relentless focus on customer service, continual refinement of our product offerings and ongoing improvements to grow our commercial sales, all while managing our expenses appropriately. At the end of the second quarter, our balance sheet was in excellent condition, and we remain committed to our disciplined approach of growing operating earnings while utilizing our capital effectively".

5:16AM Superior Well Services beats by $0.01, beats on revs (SWSI) 4.65 : Reports Q4 (Dec) earnings of $0.48 per share, $0.01 better than the First Call consensus of $0.47; revenues rose 70.3% year/year to $161.7 mln vs the $140.5 mln consensus.

1:15AM Petroleum Development beats by $0.19, beats on revenue (PETD) 11.01 : Reports Q4 (Jan) earnings of $0.76 per share, excludes items, $0.19 better than the First Call consensus of $0.57; revenues increased 105% year/year to $195.41 mln vs the $140.4 mln consensus. Q408 production increased 11% to 11.3 Bcfe compared to Q308 production of 10.2 Bcfe.

12:53AM First Ind. Rlty reports Q4 (Dec) results, beats on revs; guides FY09 FFO above consensus (FR) 2.10 : Reports Q4 (Dec) funds from operations of $0.52 per share, may not be comparable to the First Call consensus of ($0.17); revenues rose 44.3% year/year to $145.4 mln vs the $83.8 mln consensus. Under the co's prior definition of funds from operations (FFO), First Industrial's fourth quarter FFO was $(0.89) per share/unit on a diluted basis, compared to $1.22 per share/unit last year. Co issues upside guidance for FY09, sees FFO of $1.34-1.44, excluding non-recurring items, vs. $1.20 consensus.

Comments- FR, Debt laiden, however, the FFO is still positive and stock is wayyy too oversold. At somepoint, REITs will be a great short-sqeeze trade. Keep watching. 

Earnings - 19th Aug 2008

5:06PM TJX Cos announces sale of Bob's Stores; co guides FY09 EPS in-line with consensus (TJX) 34.77 -0.82 : Co guides FY09 adjusted EPS in-line; co sees EPS of $2.17-2.22, now excluding a $0.02 gain, vs $2.30 consensus. Full year guidance for diluted earnings per share from continuing operations for the current fiscal year includes an expected $.09 per share benefit from the 53rd week in the Company's Fiscal 2009 fourth quarter as well as $.02 per share of unanticipated tax-related adjustments recorded in Q1 of FY09. Co announced that it has sold Bob's Stores to private equity firms Versa Capital Management and Crystal Capital. Terms of the sale were not disclosed. The co will record an after-tax loss in its FY09 third quarter of approximately $15 million, or $.03 per share, from the sale of Bob's Stores, which will be reported as a loss from discontinued operations. As a result of this sale and reclassification of Bob's Stores to discontinued operations, the Company is updating its guidance to reflect income from continuing operations, which will exclude the impact of the sale of Bob's Stores and its operating results. The Company's guidance for the third and fourth quarter for diluted earnings per share from continuing operations is unchanged from the guidance for diluted earnings per share previously issued in the Company's 8/12/08 press release.

4:29PM Open Text beats by $0.05, beats on revs (OTEX) 34.00 -0.66 : Reports Q4 (Jun) earnings of $0.63 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.58; revenues rose 14.3% year/year to $200.3 mln vs the $190.8 mln consensus.

4:13PM Hewlett-Packard beats by $0.03, beats on revs; guides Q4 EPS above consensus, revs in-line (HPQ) 43.69 -0.91 : Reports Q3 (Jul) earnings of $0.86 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.83; revenues rose 10.5% year/year to $28.03 bln vs the $27.41 bln consensus. Co reports Q3 (Jul) notebook rev grew 26% y/y, compares to 31% y/y growth in Q2, and desktop rev grew 6% y/y, compares to 0% y/y growth in Q2. Co issues guidance for Q4, sees EPS of 1.01-1.03, excluding non-recurring items, vs. $1.00 consensus; sees Q4 revs of $30.2-30.3 bln vs. $30.22 bln consensus.

4:09PM Verifone guides 3Q revs and EPS above consensus; 4Q revs and EPS above consensus; FY09 EPS above consensus (PAY) 14.73 -0.95 : PAY guides 3Q08 revs of $256-258 mln vs. First Call consensus of $248.3 mln, sees EPS of $0.34-0.35 vs. $0.28 First Call Consensus. PAY guides 4Q08 revs of $260-268 mln vs. First Call consensus of $255.2 mln, sees EPS of $0.36-0.39 vs. $0.30 First Call Consensus. Douglas Bergeron, CEO of VeriFone, stated: "We expect our third and fourth quarters, beginning in May of this year, to be positive in many respects. Despite a slowdown in the US market, we are seeing excellent growth internationally and in the emerging markets in particular."... "For fiscal year 2009, we are prudently expecting that weak macro-economic conditions will prevail in North America and Western Europe, though we expect continued favorable conditions in the emerging markets," said Mr. Bergeron. "We are also working diligently to control growth in operating expenses across the enterprise." For the full year ending October 31, 2009, VeriFone expects to achieve net revenue growth of 10 to 15% annual growth, consistent with its long-term growth targets. VeriFone is projecting continued improvements to gross margins as the year progresses as a result of product cost reduction initiatives and improved pricing strategies. PAY sees FY09 EPS of $1.35-1.55 vs. $1.14 First Call Consensus

4:09PM Navios Maritime announces Q2 results (NM) 9.08 -0.57 : Co reports Q2 EPS of $0.22, ex-items, vs $0.30 First Call consensus; revs increased 161% from a year ago to $354.43 mln vs $139.03 mln First Call consensus. "During the second quarter of 2008, we delivered excellent financial and operational performance, as evidenced by the 6% increase in Adjusted EBITDA to $48.2 million," stated Ms. Angeliki Frangou, Chairman and CEO of Navios Holdings. "Furthermore, we continue to strike a favorable balance of spot exposure and long-term cash flow generation as illustrated by our chartering strategy." ... The increase in revenue is mainly attributable to the increase in TCE per day and the increase in the available days of the fleet in 2008 as compared to 2007.

4:06PM Analog Devices misses by $0.01, reports revs in-line; guides Q4 EPS in-line, revs in-line (ADI) 32.15 -0.03 : Reports Q3 (Jul) earnings from cont operations of $0.44 per share, $0.01 worse than the First Call consensus of $0.45; revenues rose 6.7% year/year to $659 mln vs the $660.5 mln consensus. Co issues in-line guidance for Q4, sees EPS from cont operations of $0.44-0.46 vs. $0.46 consensus; sees Q4 revs growth of 6-9% YoY, which equates to ~$660.9-679.6 mln vs. $673.07 mln consensus.

8:28AM Target beats by $0.06, revs in-line (TGT) 50.05 : Reports Q2 (Jul) earnings of $0.82 per share, $0.06 better than the First Call consensus of $0.76; revs rose 5.8% year/year to $15.47 bln, in-line with the $15.46 bln First Call consensus. "Our second quarter earnings per share modestly exceeded our expectations despite continued soft sales trends. We continue to focus on driving our financial results through superior execution and discipline and by continuing to delight our guests with differentiated merchandise at a compelling value."

8:00AM ReneSola beats by $0.06, beats on revs; guides FY08 revs above consensus; raises output guidance (SOL) 17.93 : Reports Q2 (Jun) earnings of $0.38 per share, $0.06 better than the First Call consensus of $0.32; revenues rose 289.0% year/year to $173 mln vs the $141.3 mln consensus. Co issues upside guidance for FY08, sees FY08 revs of $640-670 mln vs. $612.01 mln consensus, prior guidance $570-590 mln. Co expects output to be in the range of 340 MW to 350 MW from the previously guided 330 MW to 340 MW.

7:17AM Medtronic beats by $0.03, reports revs in-line (MDT) 53.44 : Reports Q1 (Jul) earnings of $0.72 per share, $0.03 better than the First Call consensus of $0.69; revenues rose 18.5% year/year to $3.71 bln vs the $3.67 bln consensus.

6:03AM Home Depot beats by $0.10, beats on revs (HD) 26.96 : Reports Q2 (Jul) earnings of $0.71 per share, $0.10 better than the First Call consensus of $0.61; revenues fell 5.4% year/year to $20.99 bln vs the $20.58 bln consensus. Co believes FY08 sales will decline by approx 5.0% and diluted EPS from continuing operations will decline by approx 24.0%. This is consistent with its previous guidance. FY08 EPS guidance doesn't include its store rationalization charge from the closing of 15 stores and removal of 50 stores from its future growth pipeline.