Fishhead
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- Oct 20, 1999
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<TABLE cellSpacing=0 cellPadding=2 width="100%" bgColor=white border=0 xmlns:msxsl="urn:schemas-microsoft-com:xslt" xmlns:js="http://cbs.markewatch.com/xsl"><TBODY><TR><TD width="100%">Boeing (BA: news, chart, profile) may be in focus after ACE Aviation Holdings Inc. (CA:ACERV: news, chart, profile) , which owns Air Canada, placed firm orders for 32 Boeing aircraft. It has placed orders for 18 Boeing 777s and 14 Boeing 787 Dreamliners, scheduled to begin delivery next year and in 2010, respectively. ACE Aviation has also agreed the rights to purchase 18 more Boeing 777s and 46 Dreamliners. No terms of the deal were disclosed, which is expected to be finalized by the middle of this year.
BioSource International (BIOI: news, chart, profile) reported first-quarter net income of $691,000, or 7 cents a share, down from $708,000, or 7 cents, earned in the same period in 2004. There were fewer shares outstanding in the latest quarter. The life-sciences company's sales reached $12.8 million from the prior year's $11.5 million. The year-ago quarter included a loss from discontinued operations of $38,000, or 1 cent a share. The one analyst polled by Thomson First Call who follows the company had expected BioSource to earn 2 cents a share on revenue of $13 million. The company also raised its 2005 forecast for operating income from continuing operations to a range of $2.5 million to $3.25 million, up from $2 million to $3 million previously, while affirming net sales from continuing operations at $49 million to $51 million. Shares of BioSource added 24 cents, or 2.5%, to end Friday's trading at the $10 mark.
DoubleClick (DCLK: news, chart, profile) agreed to be acquired by Hellman & Friedman LLC, a private investment firm based in San Francisco, for about $1.1 billion. See full story.
Entergy Corp. (ETR: news, chart, profile) reported first-quarter earnings of $172 million, or 79 cents a share, down from $207.2 million, or 88 cents a share in the same period a year ago as lower residential usage led to soft utility results, which was partially offset by strength in its nuclear business. Analysts surveyed by Thomson First Call had been expecting earnings of 80 cents a share, on average. Revenue rose 3.2% to $2.32 billion from last year's $2.25 billion, ahead of analyst forecasts of $2.27 billion. The energy company reiterated its 2005 earnings estimate of $4.60 to $4.85 a share. The stock closed Friday up 32 cents at $72.35.
Gardner Denver (GDI: news, chart, profile) , the Quincy, Ill., producer of industrial compressors, pumps and blowers, reported that first-quarter net income rose 57% on 55% higher revenue. First-quarter net reached $10.3 million, or 50 cents a share, from $6.6 million, or 39 cents, in the year-earlier period. Revenue rose to $238.8 million from $154.4 million. Gardner Denver expects net of 55 cents to 65 cents a share for the second quarter. The company raised its estimate for the year to a range of $2.35 to $2.55 from $2.15 to $2.40. GDI shares rose 18 cents, or 0.5%, to $39.18 on Friday.
Immunicon Corp. (IMMC: news, chart, profile) Chief Executive Edward Erickson will step down March 31. The compamy also said Byron Hewett has been promoted to president and chief operating officer. Hewett had been chief operating officer and general manager of cancer products at Immunicon. The Huntingdon Valley company is working to devlop proprietary cell-based research and human diagnostic products with an initial focus on cancer.
Integrated Electrical Services (IES: news, chart, profile) , the Houston provider of electrical systems and solutions, said it won a court verdict against a contractor, with the company expecting an award of $4.9 million. The figure could reach $7 million after interest and attorneys' fees, the company said. Integrated said that a unit "hadn't been paid for work performed" and that Watkins Engineers & Constructors Inc. "interfered with and disrupted their work on a cement plant in Victorville, Calif." The jury in U.S. District Court for the Northern District of California determined that Watkins breached its subcontract with the Integrated unit, Integrated said. Integrated shares were unchanged Friday at $1.79.
MDS Inc. (MDZ: news, chart, profile) named Stephen DeFalco chief operating officer, effective June 6. In addition, the Toronto company said DeFalco will eventually succeed John Rogers as president and CEO of the company. Rogers currently plans to retire by the end of 2005. The stock closed Friday at $13.51, down 4 cents.
Metals USA, Inc. (MUSA: news, chart, profile) said first-quarter net income fell to $17.3 million, or 83 cents a share, from $18.5 million, or 91 cents a share, in the year-earlier quarter, on market conditions less favorable than in 2004. Revenue for the period climbed to $427.6 million from $319.2 million a year ago. The company attributed the rise in sales to an increase in average realized sales prices of 52%.
OfficeMax Inc. (OMX: news, chart, profile) said it has settled a potential proxy contest with shareholder K Capital over the election of directors at its annual meeting on May 9. K Capital has withdrawn its candidate for election to the board in exchange for Officemax's willingness to appoint an additional independent director to the board at the end of June and to give "active consideration in good faith" to candidates proposed by K Capital for the position, OfficeMax said.
Pilgrim's Pride Corp. (PPC: news, chart, profile) reported net earnings of $56.4 million, or 85 cents a share, for the second quarter ended April 2, up 71% from the $33 million, or 50 cents, that the poultry producer earned in the same period in fiscal 2004. Quarterly sales eased to $1.38 billion fromm the prior year's $1.39 billion. Analysts were looking for earnings of 74 cents a share on revenue of more than $1.38 billion on average. Excluding a one-time gain for a litigation settlement, Pilgrim's Pride would have earned 75 cents a share in the latest quarter. Operating income improved to nearly $89 million from $61.5 million in the fiscal 2004 second quarter. "We expect that poultry market prices will remain solid and feed costs will be considerably lower," said CEO O.B. Goolsby regarding the company's outlook for the rest of fiscal 2005. The stock fell $1.03, or 3.1%, to end Friday's trading at $33.95. See full story.
Qwest Communications International (Q: news, chart, profile) said it expects to report a profit for the first quarter after recording a gain of $250 million on the sale of its wireless assets to Verizon Wireless. The company, which plans to report its results for the period on May 3, expects revenue for the first quarter to hold flat for the fourth consecutive quarter. It forecast a revenue total for the period of between $970 million and $990 million, less cost of sales and selling, general and administrative expenses. Shares of the Denver-based telecommunications company, which saw its $9.7 billion bid to acquire MCI (MCIP: news, chart, profile) declared "superior" to Verizon's (VZ: news, chart, profile) rival bid over the weekend, closed Friday at $3.55, down 6 cents.
RR Donnelley (RRD: news, chart, profile) said it has won a multi-year $280-million contract to produce magazines and books for Meredith Corp. (MDP: news, chart, profile) . Of Meredith's 17 magazine brands, the contract awards RR Donnelley the printing of nine titles. The contract extends a 20-year relationship and includes the addition of new work.
Sepracor (SEPR: news, chart, profile) , the Marlborough, Mass., pharmaceutical producer, reported a narrower first-quarter loss on 20% higher revenue. The net loss shrank to $22.6 million, or 22 cents a share, from $50.4 million, or 59 cents, in the year-earlier period. Revenue reached $119 million from $99.5 million. The year earlier reflects a charge of $30.7 million, or 36 cents, for the termination of an agreement to co-promote Xopenex. Sepracor shares rose 95 cents, or 1.6%, on Friday to $60.28.
Valero Energy (VLO: news, chart, profile) agreed to acquire Premcor (PCO: news, chart, profile) for roughly $8 billion in cash and stock. The combined company will be the largest crude-oil refiner in North America. See full story.
Whiting Petroleum Corp. (WLL: news, chart, profile) , the Denver energy company, reported that first-quarter net income per share rose 73% as revenue more than doubled. Net reached $26.1 million, or 88 cents a share, from $9.6 million, or 51 cents, in the year-earlier period. Revenue rose to $103.5 million from $46.7 million. Whiting attributed 60% of the revenue growth to higher production and 40% to higher prices. Whiting shares fell 90 cents, or 2.6%, to $33.70 on Friday.
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Michael Baron is a reporter for MarketWatch in New York.
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BioSource International (BIOI: news, chart, profile) reported first-quarter net income of $691,000, or 7 cents a share, down from $708,000, or 7 cents, earned in the same period in 2004. There were fewer shares outstanding in the latest quarter. The life-sciences company's sales reached $12.8 million from the prior year's $11.5 million. The year-ago quarter included a loss from discontinued operations of $38,000, or 1 cent a share. The one analyst polled by Thomson First Call who follows the company had expected BioSource to earn 2 cents a share on revenue of $13 million. The company also raised its 2005 forecast for operating income from continuing operations to a range of $2.5 million to $3.25 million, up from $2 million to $3 million previously, while affirming net sales from continuing operations at $49 million to $51 million. Shares of BioSource added 24 cents, or 2.5%, to end Friday's trading at the $10 mark.
DoubleClick (DCLK: news, chart, profile) agreed to be acquired by Hellman & Friedman LLC, a private investment firm based in San Francisco, for about $1.1 billion. See full story.
Entergy Corp. (ETR: news, chart, profile) reported first-quarter earnings of $172 million, or 79 cents a share, down from $207.2 million, or 88 cents a share in the same period a year ago as lower residential usage led to soft utility results, which was partially offset by strength in its nuclear business. Analysts surveyed by Thomson First Call had been expecting earnings of 80 cents a share, on average. Revenue rose 3.2% to $2.32 billion from last year's $2.25 billion, ahead of analyst forecasts of $2.27 billion. The energy company reiterated its 2005 earnings estimate of $4.60 to $4.85 a share. The stock closed Friday up 32 cents at $72.35.
Gardner Denver (GDI: news, chart, profile) , the Quincy, Ill., producer of industrial compressors, pumps and blowers, reported that first-quarter net income rose 57% on 55% higher revenue. First-quarter net reached $10.3 million, or 50 cents a share, from $6.6 million, or 39 cents, in the year-earlier period. Revenue rose to $238.8 million from $154.4 million. Gardner Denver expects net of 55 cents to 65 cents a share for the second quarter. The company raised its estimate for the year to a range of $2.35 to $2.55 from $2.15 to $2.40. GDI shares rose 18 cents, or 0.5%, to $39.18 on Friday.
Immunicon Corp. (IMMC: news, chart, profile) Chief Executive Edward Erickson will step down March 31. The compamy also said Byron Hewett has been promoted to president and chief operating officer. Hewett had been chief operating officer and general manager of cancer products at Immunicon. The Huntingdon Valley company is working to devlop proprietary cell-based research and human diagnostic products with an initial focus on cancer.
Integrated Electrical Services (IES: news, chart, profile) , the Houston provider of electrical systems and solutions, said it won a court verdict against a contractor, with the company expecting an award of $4.9 million. The figure could reach $7 million after interest and attorneys' fees, the company said. Integrated said that a unit "hadn't been paid for work performed" and that Watkins Engineers & Constructors Inc. "interfered with and disrupted their work on a cement plant in Victorville, Calif." The jury in U.S. District Court for the Northern District of California determined that Watkins breached its subcontract with the Integrated unit, Integrated said. Integrated shares were unchanged Friday at $1.79.
MDS Inc. (MDZ: news, chart, profile) named Stephen DeFalco chief operating officer, effective June 6. In addition, the Toronto company said DeFalco will eventually succeed John Rogers as president and CEO of the company. Rogers currently plans to retire by the end of 2005. The stock closed Friday at $13.51, down 4 cents.
Metals USA, Inc. (MUSA: news, chart, profile) said first-quarter net income fell to $17.3 million, or 83 cents a share, from $18.5 million, or 91 cents a share, in the year-earlier quarter, on market conditions less favorable than in 2004. Revenue for the period climbed to $427.6 million from $319.2 million a year ago. The company attributed the rise in sales to an increase in average realized sales prices of 52%.
OfficeMax Inc. (OMX: news, chart, profile) said it has settled a potential proxy contest with shareholder K Capital over the election of directors at its annual meeting on May 9. K Capital has withdrawn its candidate for election to the board in exchange for Officemax's willingness to appoint an additional independent director to the board at the end of June and to give "active consideration in good faith" to candidates proposed by K Capital for the position, OfficeMax said.
Pilgrim's Pride Corp. (PPC: news, chart, profile) reported net earnings of $56.4 million, or 85 cents a share, for the second quarter ended April 2, up 71% from the $33 million, or 50 cents, that the poultry producer earned in the same period in fiscal 2004. Quarterly sales eased to $1.38 billion fromm the prior year's $1.39 billion. Analysts were looking for earnings of 74 cents a share on revenue of more than $1.38 billion on average. Excluding a one-time gain for a litigation settlement, Pilgrim's Pride would have earned 75 cents a share in the latest quarter. Operating income improved to nearly $89 million from $61.5 million in the fiscal 2004 second quarter. "We expect that poultry market prices will remain solid and feed costs will be considerably lower," said CEO O.B. Goolsby regarding the company's outlook for the rest of fiscal 2005. The stock fell $1.03, or 3.1%, to end Friday's trading at $33.95. See full story.
Qwest Communications International (Q: news, chart, profile) said it expects to report a profit for the first quarter after recording a gain of $250 million on the sale of its wireless assets to Verizon Wireless. The company, which plans to report its results for the period on May 3, expects revenue for the first quarter to hold flat for the fourth consecutive quarter. It forecast a revenue total for the period of between $970 million and $990 million, less cost of sales and selling, general and administrative expenses. Shares of the Denver-based telecommunications company, which saw its $9.7 billion bid to acquire MCI (MCIP: news, chart, profile) declared "superior" to Verizon's (VZ: news, chart, profile) rival bid over the weekend, closed Friday at $3.55, down 6 cents.
RR Donnelley (RRD: news, chart, profile) said it has won a multi-year $280-million contract to produce magazines and books for Meredith Corp. (MDP: news, chart, profile) . Of Meredith's 17 magazine brands, the contract awards RR Donnelley the printing of nine titles. The contract extends a 20-year relationship and includes the addition of new work.
Sepracor (SEPR: news, chart, profile) , the Marlborough, Mass., pharmaceutical producer, reported a narrower first-quarter loss on 20% higher revenue. The net loss shrank to $22.6 million, or 22 cents a share, from $50.4 million, or 59 cents, in the year-earlier period. Revenue reached $119 million from $99.5 million. The year earlier reflects a charge of $30.7 million, or 36 cents, for the termination of an agreement to co-promote Xopenex. Sepracor shares rose 95 cents, or 1.6%, on Friday to $60.28.
Valero Energy (VLO: news, chart, profile) agreed to acquire Premcor (PCO: news, chart, profile) for roughly $8 billion in cash and stock. The combined company will be the largest crude-oil refiner in North America. See full story.
Whiting Petroleum Corp. (WLL: news, chart, profile) , the Denver energy company, reported that first-quarter net income per share rose 73% as revenue more than doubled. Net reached $26.1 million, or 88 cents a share, from $9.6 million, or 51 cents, in the year-earlier period. Revenue rose to $103.5 million from $46.7 million. Whiting attributed 60% of the revenue growth to higher production and 40% to higher prices. Whiting shares fell 90 cents, or 2.6%, to $33.70 on Friday.
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Michael Baron is a reporter for MarketWatch in New York.
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