Earnings -29th April 2009 (2)

4:23PM AvalonBay beats by $0.06; guides Q2 FFO in-line (AVB) 58.04 +1.90 : Reports Q1 (Mar) funds from operations of $1.26 per share, excluding gain, $0.06 better than the First Call consensus of $1.20. Including discontinued operations, total revenue increased by $3,491,000, or 1.6% to $219,679,000. Co issues in-line guidance for Q2, sees FFO of $1.16-1.20 vs. $1.16 consensus.

4:22PM Trinity Industries beats by $0.04, beats on revs (TRN) 13.46 +1.05 : Reports Q1 (Mar) earnings of $0.28 per share, excluding $0.15 per common diluted share resulting from the sale at the end of the first quarter of $132.1 million of railcars by its railcar leasing business, $0.04 better than the First Call consensus of $0.24; revenues fell 11.7% year/year to $793.5 mln vs the $661.4 mln consensus. "We are focused on rapidly adapting to the lower product volumes that have resulted from the current economic environment. Our employees have responded well to this difficult task. While certain of our businesses did well, the first quarter was challenging for several of our other businesses. Our customers continue to be cautious as they try to get a better sense of the economy's direction."

4:22PM Covance beats by $0.02, beats on revs; guides FY09 EPS below consensus (CVD) 40.29 +1.86 : Reports Q1 (Mar) earnings of $0.63 per share, $0.02 better than the First Call consensus of $0.61; revenues rose 7.0% year/year to $441.2 mln vs the $429.4 mln consensus. Co issues downside guidance for FY09, sees EPS of $2.50-$2.70 vs. $2.88 consensus, and vs prior guidance of $3.00-$3.20. Co states, "...However, first quarter results in Early Development were well below our expectations and, while we believe a bottoming of demand is underway, we expect growth to return later and slower than originally projected and from a lower base of revenue. As a result, we are now lowering our 2009 revenue growth rate expectation to the single-digit range..."

4:17PM Agnico-Eagle Mines beats by $0.26, beats on revs (AEM) 46.02 +0.72 : Reports Q1 (Mar) earnings of $0.35 per share, $0.26 better than the consensus estimate of $0.09; revenues fell 10.5% year/year to $110.7 mln vs the $71.8 mln single analyst estimate. Payable gold production(1) in the first quarter of 2009 was a record 91,812 ounces at total cash costs per ounce(2) of $312. This compares with payable gold production of 50,892 ounces, at total cash costs per ounce of minus $399 in the first quarter of 2008.

4:16PM Nutrisystem misses by $0.02, misses on revs (NTRI) 15.09 +0.58 : Reports Q1 (Mar) earnings of $0.31 per share, $0.02 worse than the First Call consensus of $0.33; revenues fell 24.8% year/year to $162.7 mln vs the $177.3 mln consensus.

4:14PM Visa beats by $0.09, beats on revs; affirms financial outlook through 2010 (V)63.51 +2.80 : Reports Q2 (Mar) earnings of $0.73 per share, $0.09 better than the First Call consensus of $0.64; revenues rose 13.4% year/year to $1.65 bln vs the $1.61 bln consensus. Payments volume growth, on a nominal basis, was a negative 1% over the prior year at $675 bln; total volume, on a nominal basis and inclusive of cash volume, was $1.1 trillion, flat over the prior year. Visa  updates its financial outlook for annual adjusted operating margin in the low 50% range. Visa affirms its financial outlook annual net revenue growth of high single digits in 2009 and at the lower end of the 11% to 15% range in 2010, given certain economic recovery assumptions; co sees annual adjusted diluted class A common stock earnings per share growth of greater than 20%. Co says, "Despite the challenging economy, Visa continued to post strong operational and financial performance during our fiscal second quarter, and we remain confident in delivering our EPS guidance for FY 2009." Co also announces that it intends to file a universal shelf registration statement on Form S-3 with the SEC.  Although the Co expects to have the flexibility under the universal shelf to quickly access the capital markets with either equity or debt security offerings, Visa has no immediate plans to issue any such securities.

4:13PM SurModics beats by $0.05, beats on revs (SRDX) 18.75 +0.24 : Reports Q2 (Mar) earnings of $0.24 per share, $0.05 better than the First Call consensus of $0.19; revenues fell 18.7% year/year to $20.9 mln vs the $20.5 mln consensus.

4:12PM ManTech misses by $0.01, misses on revs; guides Q2 EPS in-line, revs below consensus; guides FY09 EPS in-line, revs below consensus (MANT) 43.22 +1.18 : Reports Q1 (Mar) earnings of $0.68 per share, $0.01 worse than the First Call consensus of $0.69; revenues rose 5.8% year/year to $449.6 mln vs the $495.2 mln consensus. Co issuesmixed guidance for Q2, sees EPS of $0.71-$0.74 vs. $0.73 consensus; sees Q2 revs of $480-$510 mln vs. $529.45 mln consensus. Co issues mixed guidance for FY09, sees EPS of $2.91-$3.01 vs. $2.98 consensus; sees FY09 revs of $2.00-$2.075 bln vs. $2.14 bln consensus.

4:08PM Human Genome beats by $0.31, beats on revs (HGSI) 1.39 +0.06 : Reports Q1 (Mar) earnings of $0.85 per share, $0.31 better than the First Call consensus of $0.54; revenues rose 1341.5% year/year to $177.3 mln vs the $150.4 mln consensus. 2008. Revenues included $153.8 million recognized upon the sale and delivery of ABthrax to the U.S. Strategic National Stockpile, $9.0 million recognized from the Syncria agreement with GSK, $8.9 million recognized from the Albuferon agreement with Novartis and $1.6 million recognized from the LymphoStat-B agreement with GSK.

4:08PM Citrix Systems beats by $0.01, beats on revs, issues 2Q09 guidance (CTXS)25.65 -0.19 : Reports Q1 (Mar) earnings of $0.32 per share, $0.01 better than the First Call consensus of $0.31; revenues fell 2.1% year/year to $369 mln vs the $359.2 mln consensus. Citrix expects to achieve the following results during its second fiscal quarter 2009 ending June 30, 2009: Net revenue is expected to be flat to slightly down compared to the net revenue reported for the second quarter of 2008; and, Non-GAAP operating margin is expected to increase between 100 and 150 basis points compared to the second quarter 2008, excluding the effects of amortization of intangible assets primarily related to business combinations, stock-based compensation expense, and restructuring charges. In addition to quarterly financial results, Citrix also announced that its board of directors has authorized it to repurchase up to an additional $300 million of its common stock.

4:08PM Digital River beats by $0.05, beats on revs; guides Q2 EPS below consensus, revs above consensus (DRIV) 36.35 +1.53 : Reports Q1 (Mar) earnings of $0.56 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.51; revenues fell 0.7% year/year to $102.9 mln vs the $98.8 mln consensus. Co issues mixed guidance for Q2, sees EPS of $0.39-0.42, excluding non-recurring items, vs. $0.44 consensus; sees Q2 revs of $95-97 mln vs. $95.15 mln consensus. "We are very encouraged by the solid growth in our pipeline, the high caliber of companies that we are adding to our client list, and the moderate sequential increase we saw in e-commerce sales activity.

4:06PM Akamai Tech beats by $0.03, reports revs in-line; announces $100 mln stock buyback (AKAM) 20.06 +0.46 : Reports Q1 (Mar) earnings of $0.43 per share, $0.03 better than the First Call consensus of $0.40; revenues fell 1.0% year/year to $210.4 mln vs the $208.5 mln consensus. AKAM announces $100 mln stock buyback, to be funded by cash from operations. The Company plans to use this program over the next several quarters to roughly offset dilution created by ongoing equity compensation programs. "The Board's authorization of a share repurchase program reflects our continued confidence in the future of our business and our focus on providing an attractive return on investment to our shareholders... We plan to fund this program out of our operating cash flow while maintaining flexibility to make strategic investments, which is a testament to our belief in the strength of our business." Cash from operations was $90.5 million in the first quarter of 2009, up 3 percent over 2008 first quarter cash from operations of $88.0 million. At the end of the first quarter of 2009, the Company had approximately $848.5 million in cash, cash equivalents and marketable securities.

4:06PM Amkor beats by $0.16, beats on revs; guides Q2 EPS above consensus, revs above consensus (AMKR) 4.06 +0.26 : Reports Q1 (Mar) loss of $0.12 per share, $0.16 better than the First Call consensus of ($0.28). Co issues upside guidance for Q2, sees EPS of -0.04 to $0.00 vs. ($0.25) consensus; sees Q2 revs to increase 18% to 22% from the first quarter, which calculates to roughly $459.02-$474.58 mln vs. $419.12 mln consensus. Co says "Our sales were adversely impacted by the sharp global economic downturn and weakness in consumer demand. However, there remains significant uncertainty regarding the full scope and duration of the current downturn, and it is difficult to predict future results in this very challenging economic environment... Gross margin for the first quarter of 2009 was 12%, and we expect that gross margin for the second quarter of 2009 will be between 17% and 19%. In the current environment, we are focused on gross margin and cash flows. Starting in early 2008, we began implementing wide-ranging, but carefully selected cost reduction measures to align our cost structure with decreasing levels of demand. Our first quarter operating results compared to the fourth quarter of 2008 benefited by approximately $55 million from these cost reduction programs,"

4:05PM Express Scripts beats by $0.04, reports revs in-line; guides FY09 EPS in-line (ESRX) 60.45 -0.50 : Reports Q1 (Mar) earnings of $0.86 per share, $0.04 better than the First Call consensus of $0.82; revenues fell 1.2% year/year to $5.42 bln vs the $5.4 bln consensus. Co issues in-line guidance for FY09, sees EPS of $3.67-3.77 vs. $3.68 consensus. This guidance range excludes NextRx transaction-related costs and NextRx results after the transaction closes.

4:05PM International Coal beats by $0.02, misses on revs (ICO) 1.97 +0.08 : Reports Q1 (Mar) earnings of $0.02 per share, $0.02 better than the First Call consensus of ($0.00); revenues rose 21.1% year/year to $305 mln vs the $309.2 mln consensus. Margin per ton sold increased 144% to $8.94 in the first quarter of 2009, compared to $3.67 for the same period last year, due to higher realized prices and improved cost performance. For 2009, the co expects to sell approximately 19.3 million to 19.9 million tons of coal. The average selling price is projected to be $59.50 to $60.00 per ton. The projected average cost per ton sold is $49.25 to $50.75, excluding selling, general and administrative expenses. The co expects coal production to be approximately 18.5 million to 19.1 million tons. For 2010, based upon the recent weakness in coal demand, the company expects to sell 18.5 million to 19.5 million tons of coal. Coal production is expected to total 18.0 million to 19.0 million tons. However, the Co plans to maintain idled mines in a status that allows timely reactivation if 2010 market demand is sufficient to support greater Central Appalachian production. Due to the high degree of market uncertainty, the co is not offering revenue or cost guidance for 2010. The Company anticipates 2009 capital expenditures of approximately $90-$95 million.

4:03PM Varian Medical beats by $0.04, misses on revs; guides Q3 EPS in-line; guides FY09 EPS in-line (VAR) : Reports Q2 (Mar) earnings of $0.64 per share, $0.04 better thanthe First Call consensus of $0.60; revenues rose 6.8% year/year to $553.6 mln vs the $562.3 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.61-0.65 vs. $0.63 consensus. Co issues in-line guidance for FY09, sees EPS of $2.50-2.60 vs. $2.56 consensus.

4:03PM First Solar beats by $0.48, beats on revs (FSLR) 151.67 +5.01 : Reports Q1 (Mar) earnings of $1.99 per share, $0.48 better than the First Call consensus of $1.51; revenues rose 112.4% year/year to $418.2 mln vs the $403.4 mln consensus.

4:02PM Itron misses by $0.19, reports revs in-line (ITRI) 51.35 +3.18 : Reports Q1 (Mar) earnings of $0.33 per share, $0.19 worse than the First Call consensus of $0.52; revenues fell 18.6% year/year to $389 mln vs the $392.3 mln consensus. New order bookings for the first quarter of 2009 were $625 mln, compared with $484 mln in the first quarter of 2008. Our book-to-bill ratios were 1.6 to 1 and 1.02 to 1 for the first quarter of 2009 and 2008, respectively.

8:21AM Affiliated Managers beats by $0.02, misses on revs (AMG) 44.68 : Reports Q1 (Mar) "cash" earnings of $0.94 per share, excluding non-recurring items, $0.02 better thanthe First Call consensus of $0.92; revenues fell 46.7% year/year to $178.5 mln vs the $194.5 mln consensus.

8:06AM CenterPoint misses by $0.12, beats on revs; reaffirms FY09 EPS guidance (CNP) 10.74 : Reports Q1 (Mar) earnings of $0.19 per share, $0.12 worse than the First Call consensus of $0.31; revenues rose 21.6% year/year to $3.36 bln vs the $3.26 bln consensus. Co reaffirms guidance for FY09, sees EPS of $1.05-1.15 vs. $1.09 consensus.

Earnings - 28th Jan 2008

4:20PM Qualcomm misses by $0.16, beats on revs; guides Q2 revs in-line; guides FY09 revs below consensus (QCOM) 36.82 +1.19 : Reports Q1 (Dec) earnings of $0.31 per share, excluding non-recurring items, $0.16 worse than the First Call consensus of $0.47; revenues rose 3.0% year/year to $2.51 bln vs the $2.42 bln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $2.25-2.45 bln vs. $2.41 bln consensus. Co issuesdownside guidance for FY09, sees FY09 revs of $9.3-9.8 bln vs. $10.25 bln consensus, down from $10.2-10.8 bln previously. "Net income and diluted EPS for the quarter were adversely impacted by other-than-temporary impairments to its marketable securities portfolio... The CDMA inventory channel has contracted as we expected, and the business environment continues to remain uncertain. Reduced visibility in the marketplace makes it difficult to forecast future inventory levels or predict when a recovery will begin. As a result, while we continue to estimate healthy growth in the CDMA-device market, we have lowered our shipment estimate for calendar year 2009."

4:19PM Western Digital beats by $0.24, beats on revs (WDC) 14.40 +0.85 : Reports Q2 (Dec) earnings of $0.55 per share, excluding restructuring charges, $0.24 better than the First Call consensus of $0.31; revenues fell 17.3% year/year to $1.82 bln vs the $1.75 bln consensus. Co says, "Against a backdrop of unprecedented global economic turmoil and a rapid intra-quarter fall off in demand for hard drives, WD acted swiftly to align production and operating expenses with significantly lower-than-originally planned unit volumes... With a strong balance sheet and competitive cost structure, we plan to continue investing in next-generation product platforms and technologies during this downturn. We are focused on maintaining our leadership in technology deployment, ease-of-use features, and availability of the right products for our diversified customer base. We remain enthused about our long-term prospects as a full-line storage supplier in addressing the demands of both the commercial and consumer markets as the digitization of content continues to grow."

4:17PM Airgas beats by $0.01, reports revs in-line; guides Q4 EPS in-line (ARG) : Reports Q3 (Dec) earnings of $0.76 per share, $0.01 better than the First Call consensus of $0.75; revenues rose 7.0% year/year to $1.08 bln vs the $1.08 bln consensus. Co issues in-line guidance for Q4, sees EPS of $0.73-0.76 vs. $0.74 consensus.

4:15PM Lam Research misses by $0.04, beats on revs (LRCX) 23.89 +1.47 : Reports Q2 (Dec) loss of $0.09 per share, $0.04 worse than the First Call consensus of ($0.05); revenues fell 53.6% year/year to $283.4 mln vs the $277.5 mln consensus. "The global semiconductor industry has entered one of the most difficult periods in its history, one that is presenting severe challenges to our customers and thus severely limiting investment in wafer fab equipment."

4:12PM Sepracor beats by $0.36, beats on revs; guides FY09 revs below consensus (SEPR) 13.62 +0.12 : Reports Q4 (Dec) earnings of $0.92 per share, excluding non-recurring items, $0.36 better than the First Call consensus of $0.56; revenues rose 8.7% year/year to $369.7 mln vs the $352.7 mln consensus. Co issues guidance for FY09, sees EPS of $2.10-2.70, may not be comparable to $1.43 consensus; sees FY09 revs of $1.15-1.25 bln vs. $1.37 bln consensus. LUNESTA brand eszopiclone, indicated for the treatment of insomnia, had revenues of $161.9 mln for Q4 of 2008 compared to $149.8 mln for the same quarter in 2007.

4:08PM FormFactor misses by $0.16, beats on revs (FORM) 16.04 +0.97 : Reports Q4 (Dec) loss of $0.61 per share, $0.16 worse than the First Call consensus of ($0.45); revenues fell 66.9% year/year to $39.9 mln vs the $39.1 mln consensus.

4:08PM Symantec beats by $0.10, beats on revs; guides Q4 EPS in-line, revs in-line (SYMC) 14.63 +0.64 : Reports Q3 (Dec) earnings of $0.42 per share, $0.10 better than the First Call consensus of $0.32; revenues rose 0.6% year/year to $1.54 bln vs the $1.48 bln consensus. Co issues in-line guidance for Q4, sees EPS of $0.33-0.35 vs. $0.34 consensus; sees Q4 revs of $1.49-1.54 bln vs. $1.51 bln consensus.

4:07PM Covance beats by $0.02, beats on revs; reaffirms FY09 EPS guidance (CVD) : Reports Q4 (Dec) earnings of $0.72 per share, $0.02 better than the First Call consensus of $0.70; revenues rose 6.7% year/year to $438.6 mln vs the $419.2 mln consensus. Coreaffirms guidance for FY09, sees EPS of $3.00-3.20 vs. $3.07 consensus.

4:05PM Green Mtn Coffee beats by $0.03, beats on revs; guides FY09 EPS above consensus, revs above consensus (GMCR) 39.85 +2.05 : Reports Q1 (Dec) earnings of $0.16 per share, excluding a patent litigation settlement, $0.03 better than the First Call consensus of $0.13; revenues rose 55.9% year/year to $197 mln vs the $189.3 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.25-1.35 vs. $1.25 consensus; sees FY09 revs of $715.0-740.0 mln vs. $699.76 mln consensus. Co says, "Even in a difficult consumer economy, GMCR is driving significant top and bottom line growth with innovative products that have tremendous consumer appeal and are positioned at the intersection of quality and value. Our success is driven by the winning combination of our outstanding coffees and the Keurig Single-Cup Brewing System."

4:03PM Affymetrix reports Q4 (Dec) results, beats on revs (AFFX) 3.93 -0.13 : Reports Q4 (Dec) loss of $4.65 per share, may not be comparable to the First Call consensus of ($0.19); revenues fell 27.0% year/year to $78.6 mln vs the $75.6 mln consensus. Affymetrix shipped 23 GeneChip systems in the fourth quarter of 2008, bringing its cumulative systems shipped to 1,813. "During the fourth quarter, we took action to position Affymetrix for stronger performance going forward, which resulted in consolidation and restructuring charges. At the same time, the continued decline in our market capitalization and other changes in the business climate necessitated a $239.1 million goodwill impairment charge."

4:02PM Open Text beats by $0.07, reports revs in-line (OTEX) 32.90 +1.24 : Reports Q2 (Dec) earnings of $0.64 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.57; revenues rose 13.8% year/year to $207.7 mln vs the $206.5 mln consensus.

8:58AM Sybase beats by $0.17, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY09 EPS above consensus, revs below consensus (SY) 25.86 : Reports Q4 (Dec) earnings of $0.78 per share, excluding non-recurring items, $0.17 better than the First Call consensus of $0.61; revenues rose 3.4% year/year to $305.1 mln vs the $300.3 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.40-0.42 vs. $0.41 consensus; sees Q1 revs of $260-270 bln vs. $268.02 mln consensus. Co issues mixed guidance for FY09, sees EPS of $2.16-2.21, excluding non-recurring items, vs. $2.14 consensus; sees FY09 revs of $1.14 bln vs. $1.16 bln consensus.

8:37AM Tidewater beats by $0.38, reports revs in-line (TDW) 40.09 : Reports Q3 (Dec) earnings of $2.28 per share, $0.38 better than the First Call consensus of $1.90; revenues rose 15.3% year/year to $362.3 mln vs the $358.8 mln consensus.

8:36AM Affiliated Managers beats by $0.09, misses on revs (AMG) 39.40 : Reports Q4 (Dec) cash earnings per share of $1.30, ex-items, $0.09 better than the First Call consensus of $1.21; revenues fell 41.7% year/year to $223.4 mln vs the $239.3 mln consensus. Co states, "Although market volatility has impacted near-term new investment activity, over the medium to long term, our prospects for earnings growth from accretive investments are excellent. Even in the current environment, there continue to be a large number of outstanding boutique firms which are facing ongoing demographically-driven succession issues, as well as a range of opportunistic transactions, including those involving corporate sellers..."

7:36AM Southern Co beats by $0.01, beats on revs (SO) 34.94 : Reports Q4 (Dec) earnings of $0.26 per share, excluding a $0.02 charge for three leveraged leases from the 1990s, $0.01 better than the First Call consensus of $0.25; revenues rose 13.8% year/year to $3.8 bln vs the $3.31 bln consensus.

6:19AM Becton Dickinson beats by $0.11, misses on revs; raises FY09 EPS guidance (BDX) 74.15 : Reports Q1 (Dec) earnings of $1.26 per share, $0.11 better than the First Call consensus of $1.15; revenues rose 1.6% year/year to $1.73 bln vs the $1.77 bln consensus. Co estimates that EPS from continuing operations for FY09 will increase approx 9-11% over diluted EPS from continuing operations of $4.46 for FY08 (First Call consensus FY09 EPS:  $4.88). CEO states that thus far in 2009, there has been strength in Biosciences and Diagnostics segments and strong sales of insulin delivery products.

5:17AM Baker Hughes beats by $0.15, beats on revs (BHI) 32.77 : Reports Q4 (Dec) earnings of $1.41 per share, $0.15 better than the First Call consensus of $1.26; revenues rose 16.3% year/year to $3.19 bln vs the $3.05 bln consensus. Revenue from North America increased 17% and revenue from outside North America increased 12% for the year 2008 compared to the year 2007. CEO Chad C. Deaton comments "... In North America, where the US rig count has already fallen 25% from peak, customers are continuing to reduce their budgets to address an oversupplied gas market. The depth and duration of the cycle remains uncertain, dependent in part on the timing of the recovery of the global economy."

Earnings - 23rd July 2008 (1)

8:15AM Lincoln Electric beats by $0.24, beats on revs (LECO) 74.43 : Reports Q2 (Jun) earnings of $1.62 per share, $0.24 better than the First Call consensus of $1.38; revenues rose 19.3% year/year to $699.8 mln vs the $663.6 mln consensus.

8:13AM Affiliated Managers beats by $0.02, misses on revs (AMG) 86.13 : Reports Q2 (Jun) earnings of $1.43 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $1.41; revenues fell 6.8% year/year to $309 mln vs the $313.7 mln consensus. "Looking ahead, our pipeline of prospective new Affiliate investments continues to be very strong. Our proven track record of successful investments and established reputation as the partner of choice for growing boutique firms makes our competitive position stronger than ever. With our substantial financial capacity to execute upon the opportunities before us, we are uniquely well-positioned to generate meaningful incremental growth in earnings through accretive investments in outstanding boutique asset management firms."

8:07AM McDonald's beats by $0.08, beats on revs; reports global comparable sale +6.1% (MCD) 60.12 : Reports Q2 (Jun) earnings of $0.94 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.86; revenues rose 4.0% year/year to $6.08 bln vs the $5.92 bln consensus. MCD reports global comparable sales increased 6.1%.

8:05AM Peabody Energy beats by $0.35; guides Q3 EPS in-line; guides FY08 EPS in-line (BTU) 65.03 : Reports Q2 (Jun) earnings of $0.89 per share, $0.35 better than the First Call consensus of $0.54; revenues rose 43.2% year/year to $1.53 bln vs the $1.5 bln consensus. Co issues in-line guidance for Q3, sees EPS of $0.80-1.05 vs. $0.87 consensus. Co issues in-line guidance for FY08, sees EPS of $2.50-3.00 vs. $2.58 consensus. Full-year EBITDA is now targeted to be $1.6-1.8 bln. The company is reaffirming production volume targets of 220 to 240 million tons with sales of 240 to 260 million tons, including 22 to 24 million tons in Australia.

8:01AM Palomar Medical expands its product portfolio through a distribution agreement with Astron Clinica (PMTI) 12.15 : Co announces that it has entered into a Distribution Agreement with Astron Clinica to distribute a range of aesthetic imaging products in the United States and Canada. The agreement gives Palomar exclusive distribution rights to sell Beau Visage, a clinically proven skin imaging and consultation system, to medical professionals.

7:59AM Ryder System beats by $0.06, beats on revs; guides Q3 EPS in-line; narrows FY08 EPS guidance (R) 75.09 : Reports Q2 (Jun) earnings of $1.22 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $1.16; revenues rose 0.1% year/year to $1.66 bln vs the $1.6 bln consensus. Co issues in-line guidance for Q3, sees EPS of $1.25-1.30 vs. $1.27 consensus. Co issues in-line guidance for FY08, sees EPS of $4.60-4.70 vs. $4.68 consensus, prior guidance $4.55-4.75.

7:48AM Allegheny Tech beats by $0.01, beats on revs; guides FY08 EPS below consensus (ATI) 54.62 : Reports Q2 (Jun) earnings of $1.55 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $1.54; revenues fell 0.7% year/year to $1.46 bln vs the $1.41 bln consensus. Co issues downside guidance for FY08, sees EPS of $5.80-6.10 vs. $6.42 consensus. Co says demand for its titanium alloys, nickel-based superalloys, and specialty alloys was good for jet engine applications. Demand for its airframe titanium alloys was steady. Demand for its exotic alloys was strong from the chemical process industry and is growing from the nuclear energy market.
7:44AM AT&T reports EPS in-line, revs in-line (T) 31.82 : Reports Q2 (Jun) earnings of $0.76 per share, excluding non-recurring items, in-line with the First Call consensus of $0.76; revenues rose 4.7% year/year to $30.87 bln vs the $31.15 bln consensus. Co reports consolidated operating income margin expansion to 21.3% reported from 16.8% in the year-earlier quarter and 25.1% adjusted versus 23.9%. Co reports 15.8% increase in wireless revenues with wireless data revenues from areas such as Internet access, messaging and e-mail up a robust 52.0%. Reports more than 1.3 mln net gain in wireless subscribers to reach 72.9 mlnin service; postpaid subscriber churn down to 1.1%, lowest level in company's history. Co reports 16.1% growth in wireline IP data revenue. AT&T U-verse net subscriber gain of 170,000 to reach 549,000 in service; on trajectory to exceed 1 million subscribers in service by the end of this year.


7:36AM General Dynamics beats by $0.16, beats on revs; guides FY08 EPS above consensus (GD) 83.45 : Reports Q2 (Jun) earnings of $1.60 per share, $0.16 better than the First Call consensus of $1.44; revenues rose 10.8% year/year to $7.30 bln vs the $7.23 bln consensus. Co issues upside guidance for FY08, sees EPS of $6.00-6.05 vs. $5.91 consensus. Co says cash generation was exceptionally strong and the robust backlog suggests continued healthy demand for each business area. Growth in the Aerospace backlog is a reflection of continued demand for the entire existing product line and extremely strong demand for the new Gulfstream G650. Co says it is very pleased to see this interest in the new plane.

7:04AM PepsiCo beats by $0.03, beats on revs; guides FY08 EPS in-line (PEP) 66.19 +1.74 : Reports Q2 (Jun) earnings of $1.05 per share, $0.03 better than the First Call consensus of $1.02; revenues rose 13.9% year/year to $10.95 bln vs the $10.55 bln consensus. Co issues in-line guidance for FY08, sees EPS of at least $3.72 vs. $3.73 consensus and low-double-digit net revenue growth (including acquisitions and foreign exchange).

7:03AM Wyeth beats by $0.04, beats on revs; guides FY08 EPS above consensus (WYE) 44.68 : Reports Q2 (Jun) earnings of $0.91 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.87; revenues rose 5.3% year/year to $5.95 bln vs the $5.69 bln consensus. Co issues upside guidance for FY08, sees EPS of $3.47-3.55, excluding non-recurring items, compared to previous guidance of $3.35-3.42, vs. $3.45 consensus.

7:01AM Philip Morris International beats by $0.03; guides FY08 EPS above consensus (PM) 52.05 : Reports Q2 (Jun) earnings of $0.86 per share, $0.03 better than the First Call consensus of $0.83; net revenues rose 15.0% year/year to $6.71 bln. Co issues upside guidance for FY08, sees EPS of $3.32-3.38, excluding non-recurring items, compared to previous guidance of $3.18-3.24, vs. $3.25 consensus.

6:08AM Praxair beats by $0.02, beats on revs; guides in-line; authorizes $1 bln buyback (PX) 91.95 : Reports Q2 (Jun) earnings of $1.08 per share, $0.02 better than the First Call consensus of $1.06; revenues rose 23.4% year/year to $2.88 bln vs the $2.72 bln consensus. Co issues in-line guidance for Q3, sees EPS of $1.06-1.10 vs. $1.08 consensus. Co issues in-line guidance for FY08, sees EPS of $4.20-4.30 vs. $4.24 consensus. Co also announces that the board has authorized a new repurchase program for up to $1 bln of its common stock.

6:06AM Air Products beats by $0.01, beats on revs; guides Q4 EPS above consensus (APD) 98.68 : Reports Q3 (Jun) earnings of $1.32 per share, excluding impairment charge and income from discontinued operations, $0.01 better than the First Call consensus of $1.31; revenues rose 16.2% year/year to $2.81 bln vs the $2.71 bln consensus. Co issues upside guidance for Q4, sees EPS of $1.37-1.42 vs. $1.35 consensus.

6:05AM Whirlpool beats by $0.16, reports revs in-line; reaffirms FY08 EPS guidance (WHR) 68.15 : Reports Q2 (Jun) earnings of $1.53 per share, $0.16 better than the First Call consensus of $1.37; revenues rose 4.6% year/year to $5.08 bln vs the $5.03 bln consensus. Co reaffirms guidance for FY08, sees EPS of $7.00-7.50 vs. $6.71 consensus. The company continues to expect full-year 2008 industry unit shipments to increase 5 percent to 10 percent from 2007 levels.

6:03AM WellPoint beats by $0.08, reports revs in-line; guides FY08 EPS in-line (WLP) 48.75 : Reports Q2 (Jun) earnings of $1.44 per share, $0.08 better than the First Call consensus of $1.36; revenues rose 3.1% year/year to $15.48 bln vs the $15.61 bln consensus. Co issues in-line guidance for FY08, sees EPS of $5.42-5.57 vs. $5.48 consensus.

2:28AM CNH Global beats by $0.33, beats on revs; guides FY08 EPS above consensus (CNH) 31.00 : Reports Q2 (Jun) earnings of $1.48 per share, excluding non-recurring items, $0.33 better than the First Call consensus of $1.15; revenues rose 28.9% year/year to $5.28 bln vs the $4.85 bln consensus. Co issues upside guidance for FY08, sees EPS of $3.40-3.60, excluding non-recurring items, vs. $3.37 consensus.

2:16AM Panera Bread beats by $0.06, reports revs in-line; guides Q3 EPS above consensus; guides Q4 (Dec) EPS in-line; guides FY08 EPS above consensus (PNRA) 51.00 : Reports Q2 (Jun) earnings of $0.55 per share, excluding unfavorable tax adjustment and write-down, $0.06 better than the First Call consensus of $0.49; revenues rose 26.8% year/year to $320.9 mln vs the $318.6 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.42-0.44 vs. $0.41 consensus. Co issues in-line guidance for Q4 (Dec), sees EPS of $0.82-0.86 vs. $0.84 consensus. Co issues upside guidance for FY08, sees EPS of $2.17-2.23 vs. $2.15 consensus. Comparable co-owned bakery-cafe sales increased 6.5% in Q2 and comparable bakery-cafe sales in franchise-operated bakery-cafes increased 4.8% in Q2. Co believes that estimates reflecting a growth rate for FY09 of >20% aren't prudent at this time given anticipated commodity cost inflation of 5% to 6%.

1:02AM Boston Prpts beats by $0.04, beats on revs; guides Q3 FFO above consensus; guides FY08 FFO above consensus (BXP) 99.88 : Reports Q2 (Jun) funds from operations of $1.21 per share, $0.04 better than the First Call consensus of $1.17; revenues fell 1.0% year/year to $368.5 mln vs the $364.1 mln consensus. Co issues upside guidance for Q3, sees FFO of $1.22-1.23 vs. $1.19 consensus. Co issues upside guidance for FY08, sees FFO of $4.86-4.92 vs. $4.68 consensus.

12:00AM CEMEX S.A. misses by $0.14, reports revs in-line (CX) 23.29 : Reports Q2 (Jun) earnings of $0.59 per share, $0.14 worse than the First Call consensus of $0.73; revenues rose 29.2% year/year to $6.35 bln vs the $6.38 bln consensus.