Earnings: OCZ Technology, Monsanto, Marriott International, Ruby Tuesday, Lufkin Industries, RADVision Ltd

  Inline Guidance

OCZ Technology Raises Guidance, but Remains In-line with Estimates Wednesday, October 05, 2011  4:35:08 PM ET   View:   Complete Article | Historical Guidance OCZ Technology Group, Inc. (OCZ) said it expects fiscal 2012 revenue of $320.0 million to $350.0 million. The company's previous guidance was revenue of $310.0 million to $345.0 million and the current consensus estimate is revenue of $331.9 million for the year ending February 29, 2012. Monsanto Sees First Quarter Above Estimates; Fiscal Year In-line Wednesday, October 05, 2011  8:00:00 AM ET   View:   Complete Article | Historical Guidance Monsanto Co. (MON) said it expects first quarter earnings of $0.10 to $0.15 per share and fiscal 2012 earnings of $3.34 to $3.44 per share. The current consensus earnings estimate is $0.05 per share for the quarter ending November 30, 2011 and $3.41 per share for the year ending August 31, 2012. RPM International Reaffirms Wednesday, October 05, 2011  7:30:00 AM ET   View:   Complete Article | Historical Guidance RPM International Inc. (RPM) said it continues to expect fiscal 2012 earnings of $1.60 to $1.67 per share on revenue of $3.65 billion to $3.72 billion. The current consensus earnings estimate is $1.58 per share on revenue of $3.64 billion for the year ending May 31, 2012.

  Negative Guidance

Marriott Sees 2012 Below Estimates Wednesday, October 05, 2011  4:10:00 PM ET   View:   Complete Article | Historical Guidance Marriott International Inc. (MAR) said it expects fourth quarter earnings of $0.45 to $0.50 per share. The current consensus earnings estimate is $0.49 per share for the quarter ending December 31, 2011. The company also said it expects 2012 earnings of $1.48 to $1.68 per share. The current consensus earnings estimate is $1.70 per share for the year ending December 31, 2012. Ruby Tuesday Lowers Guidance Wednesday, October 05, 2011  4:03:00 PM ET   View:   Complete Article | Historical Guidance Ruby Tuesday, Inc. (RT) said it expects a second quarter loss of $0.08 to $0.04 per share and now expects fiscal 2012 earnings of $0.60 to $0.75 per share. The company's previous guidance was for fiscal 2012 earnings of $0.75 to $0.85 per share. The current consensus estimate is for earnings of $0.05 per share for the quarter ending November 30, 2011 and earnings of $0.75 per share for the year ending May 31, 2012. Lufkin Industries Warns Wednesday, October 05, 2011  8:19:00 AM ET   View:   Complete Article | Historical Guidance Lufkin Industries, Inc. (LUFK) said it now expects third quarter earnings of $0.50 to $0.60 per share on revenue of $225.0 million to $235.0 million. The company's previous guidance was earnings of $0.72 to $0.82 per share on revenue of $230.0 million to $250.0 million and the current consensus earnings estimate is $0.75 per share on revenue of $242.5 million for the quarter ending September 30, 2011. The company also said it expects fourth quarter earnings of $0.70 to $0.80 per share on revenue of $240.0 million to $260.0 million. The current consensus earnings estimate is $0.90 per share on revenue of $255.2 million for the quarter ending December 31, 2011. RADVision Guides Lower Wednesday, October 05, 2011  8:00:03 AM ET   View:   Complete Article | Historical Guidance RADVision Ltd. (RVSN) said it now expects a third quarter non-GAAP loss of $0.39 to $0.35 per share on revenue of $17.0 million to $17.5 million. The company's previous guidance was loss of approximately $-0.27 per share on revenue of approximately $19.0 million and the current consensus estimate is a loss of $0.36 per share on revenue of $19.0 million for the quarter ending September 30, 2011.

Source: EarningsWhispers

Earnings: Pozen, Mindspeed Technologies, Acme Packet, Radware, Global Payments

 Positive Guidance

Global Payments Raises Earnings Guidance Tuesday, October 04, 2011  4:01:00 PM ET   View:   Complete Article | Historical Guidance Global Payments, Inc. (GPN) said it now expects fiscal 2012 GAAP earnings of $3.13 to $3.20 per share and continues to expect revenue of $2.10 billion to $2.15 billion. The company's previous guidance was earnings of $3.02 to $3.09 per share and the current consensus earnings estimate is $3.11 per share on revenue of $2.12 billion for the year ending May 31, 2012.

  Inline Guidance

Radware Narrows Guidance Lower, but Remains Above Estimates Tuesday, October 04, 2011  8:31:00 AM ET   View:   Complete Article | Historical Guidance Radware Ltd. (RDWR) said it now expects third quarter non-GAAP earnings of $0.33 to $0.34 per share on revenue of $42.0 million to $42.2 million. The company's previous guidance was for earnings of $0.33 to $0.35 per share on revenue of $42.0 million to $43.0 million and the current consensus earnings estimate is $0.32 per share on revenue of $41.9 million for the quarter ending September 30, 2011. SciClone Pharmaceuticals Reaffirms Above Estimates Tuesday, October 04, 2011  7:01:39 AM ET   View:   Complete Article | Historical Guidance SciClone Pharmaceuticals Inc. (SCLN) said it continues to expect 2011 earnings of $0.52 to $0.57 per share on revenue of $133.0 million to $138.0 million. The current consensus earnings estimate is $0.50 per share on revenue of $134.3 million for the year ending December 31, 2011.

  Negative Guidance

TranSwitch Lowers Guidance Tuesday, October 04, 2011  4:55:00 PM ET   View:   Complete Article | Historical Guidance TranSwitch Corp. (TXCC) said it expects third quarter revenue of $6.5 million to $7.0 million. The company's previous guidance was revenue of approximately $7.0 million and the current consensus estimate is revenue of $7.1 million for the quarter ending September 30, 2011. Acme Packet Guides Below Third Quarter Estimates Tuesday, October 04, 2011  4:01:00 PM ET   View:   Complete Article | Historical Guidance Acme Packet Inc (APKT) said it expects third quarter earnings of $0.20 to $0.22 per share on revenue of $70.0 million. The current consensus earnings estimate is $0.30 per share on revenue of $82.8 million for the quarter ending September 30, 2011. The company said it continues to expect 2011 earnings of $1.14 to $1.18 per share on revenue of $315.0 million to $320.0 million. The current consensus earnings estimate is $1.18 per share on revenue of $326.3 million for the year ending December 31, 2011. Mindspeed Technologies Guides Lower Tuesday, October 04, 2011  8:30:03 AM ET   View:   Complete Article | Historical Guidance Mindspeed Technologies Inc (MSPD) said it expects fourth quarter revenue of approximately $40.5 million. The company's previous guidance was revenue of $42.2 million to $43.9 million and the current consensus estimate is revenue of $43.1 million for the quarter ending September 30, 2011. Pozen Guides Below Estimates Tuesday, October 04, 2011  7:30:00 AM ET   View:   Complete Article | Historical Guidance Pozen, Inc. (POZN) said it expects 2011 revenue of $18.0 million to $19.0 million. The current consensus estimate is revenue of $20.0 million for the year ending December 31, 2011.

Source: EarningsWhispers

September Private-Sector Jobs +91K Vs Expected +75K

Private businesses added slightly more than expected jobs in September, according to a report released Wednesday. But large companies cut jobs and thanks mostly to two enterprises cutting staff, layoff announcements last month jumped to the highest number in more than two years.

Private-sector jobs in the U.S. rose by 91,000 last month, according to a national employment report published by payroll giant Automatic Data Processing Inc. (ADP) and consultancy Macroeconomic Advisers. Economists surveyed by Dow Jones Newswires had expected ADP would report a September gain of just 75,000. The August data were revised down to show a rise of 89,000 versus 91,000 reported a month ago. The ADP survey tallies only private-sector jobs, while the Bureau of Labor Statistics' nonfarm payroll data, to be released Friday, include government workers.

Economists surveyed by Dow Jones Newswires expect total nonfarm payrolls rose by only 60,000 slots in September after the number of jobs were unchanged in August. State and local government layoffs probably cut the top-line payroll number, while the return of about 46,000 workers on strike at Verizon in mid-August will lift the job tally. The September unemployment rate is expected to remain at 9.1%. The jobless rate has been 9.0% or more since April, a sign of how labor markets are running out of steam.

The latest ADP report showed large businesses with 500 employees or more cut 5,000 employees from their staffs, while medium-size businesses added 36,000 workers in September and small businesses that employ fewer than 50 workers hired 60,000 new workers. Service-sector jobs increased by 90,000 last month, and factory jobs fell by 5,000. ADP, of Roseland, N.J., says it processes payments of one in six U.S. workers, while Macroeconomic Advisers, based in St. Louis, is an economic-consulting firm. In another job-related report, U.S. employers announced plans to trim 115,730 workers from the payrolls last month, a 126% jump from August, according to Challenger Gray & Christmas.

Last month's total is the highest since April 2009, when 132,590 job cuts were announced. But the report said "it is important to keep in mind that 80,000 cuts, or nearly 70% of last month's total, came from just two organizations: Bank of America and the United States Army."

ECB Trichet: Not In Favor Of Bailout Funds Refinanced By ECB

The euro zone's economic growth is likely to be "very moderate" in the second half of 2011, with risks "to the downside," European Central Bank President Jean-Claude Trichet said Tuesday.

"We expect very moderate real GDP growth in the euro area in the second half," Trichet said at a hearing of the European Parliament's economic and monetary affairs committee in Brussels.

Trichet said inflation is likely to stay above 2% in the coming months before falling below that level next year.

Medium and long-term inflation 

Market News: Deutsche Bank, UBS, Google TV, Greece, AMR Crash Alert, IPO Market

Melancholy start to Q4. Greece's admission that it will miss its budget-deficit targets roiled markets Monday as stocks kicked off Q4 on a sour note, with the S&P falling 2.85% to a 13-month low of 1,099.23, led by weakness in bank stocks. Morgan Stanley (MS) fell 7.6% and Bank of America (BAC) dived 9.6% as traders worried about counterparty risk if Europe continues to deteriorate. Futures are near session lows at 7:00, with benchmark S&P -0.8% to 1078, reflecting broader losses across Europe.

Europe double-dip? S&P dropped its 2012 outlook for Europe growth - for the second time in five weeks - to 1.1% from 1.5%, and now pegs the risk of a double-dip recession at 40%. Recent data "point to a fresh deterioration in the business climate," S&P said, not only in debt-strapped countries, "but also in the core countries of the eurozone and in the U.K." In a report today, Goldman said it now expects the eurozone to sink into a mild recession in Q4.

Deutsche Bank scraps profit target. Deutsche Bank (DB) said this morning it would not reach its 2011 profit target, predicting a €250M Q3 impairment on Greek sovereign debt. DB will also reduce headcount by another 500 "in response to the significant and unabated slowdown in client activity." While most banks have marked down Greek debt, Dexia (DXBGY.PK), BNP Paribas (BNPQY.PK) and SocGen (SCGLY.PK) have not - a decision analysts say is contributing to the downdraft in their share prices. Shares of DB were recently -5.8% in Frankfurt.

UBS sees modest Q3 profit. UBS (UBS) said this morning it expects to turn a "modest net profit" in Q3, despite the recent $2.3B rogue trading loss. But if you factor out €2.2B in 'adjustments,' UBS's modest profit is likely to fall well short of the €1.5B Street consensus, likely due to ongoing poor performance at its I-bank. UBS was recently +0.1% in Zurich.

Dexia props. French and Belgian FMs pledged to guarantee financing raised by teetering Dexia (DXBGY.PK), and said they'll intervene if necessary to protect account holders and creditors. Dexia needs about €5B to achieve its required 9% Tier I ratio. Shares fell Tuesday as much as 32% to an all time low, and are down 59% since June (PR). In a throwback to 2008, a French government source today insisted Dexia "has a problem of liquidity, not of solvency."

Google forges ahead with YouTube TV. Sources say Google (GOOG) is in late-stage talks with superstars and media outlets (TWX, NWS) to produce YouTube-only content, a first step to becoming "a next-generation cable provider that oversees dozens of free online channels with professional-grade shows." GOOG is forking over than $100M in advances to secure the exclusive shows.

A backstop for the Greece backstop. Eurozone FMs - including Finland - agreed on a deal to provide collateral for loans to Greece. The deal is available to all eurozone members; other member nations had vetoed an earlier bilateral deal between Greece and Finland.

AMR crash alert? American Airlines parent AMR (AMR) dove 33% Monday on renewed fears the third-largest U.S. carrier may be forced to seek bankruptcy protection. Fueling the speculation are concerns AMR has burned through its cash reserves, and reports that more than 200 pilots have retired from its central hub over the last two months, compared with a typical monthly dozen. AMR denied the reports, saying a bankruptcy filing is "not our goal or preference," but conceded that "we need to improve our results." Peer impact: LCC -16%, UAL -12%, DAL -11%, LUV -9%.

McGraw-Hill sells broadcasting business for $212M. McGraw-Hill (MHP) unloaded its nine-station broadcasting group to E.W. Scripps (SSP) for $212M, cashing in on a "non-strategic asset" as it works toward completing its split into two "pure play" companies.

Next up, $15T. The U.S. government ended its fiscal year with an unprecedented debt of $14.79T, including $95B tacked on in the final day.

China lashes out at U.S. yuan bill. In a veiled threat of a trade war, China expressed "deep regret" over a proposed bill - approved yesterday by the Senate - designed to pressure Beijing on its currency policy, saying it "seriously violates rules of the WTO and obstructs China-U.S. trade ties." The PBOC maintains that after factoring in inflation, the yuan is now close to a balanced level. House Republicans remain skeptical of the bill and the White House hasn't endorsed it.

IPO weakness not echoed in PE markets. In further evidence of the chill that's descended over the IPO scene, only 5 venture capital-backed companies went public in Q3, the lowest number since late 2009. On the other hand, 101 VC-backed companies were bought out; the dollar amount for deals with disclosed terms at its highest level since Q4 2009.

Earnings: ClickSoftware, Focus Media, Datalink, Wolverine World Wide, Vitesse Semiconductor, AudioCodes

Positive Guidance

ClickSoftware Technologies Raises Guidance Monday, October 03, 2011  5:30:00 AM ET   View:   Complete Article | Historical Guidance ClickSoftware Technologies Ltd. (CKSW) said it expects third quarter revenue of $22.7 million to $23.5 million. The current consensus estimate is revenue of $21.0 million for the quarter ending September 30, 2011. The company also said it now expects 2011 revenue of $85.0 million to $87.0 million. The company's previous guidance was revenue of $81.5 million to $85.0 million and the current consensus estimate is revenue of $83.4 million for the year ending December 31, 2011.

  Inline Guidance

Team Reaffirms Monday, October 03, 2011  4:05:07 PM ET   View:   Complete Article | Historical Guidance Team, Inc. (TISI) said it continues to expect fiscal 2012 earnings of $1.45 to $1.60 per share. The current consensus earnings estimate is $1.55 per share for the year ending May 31, 2012. Datalink Provides Guidance Monday, October 03, 2011  8:00:10 AM ET   View:   Complete Article | Historical Guidance Datalink Corp. (DTLK) said it expects third quarter non-GAAP earnings of $0.17 to $0.19 per share on revenue of $88.0 million to $90.0 million. The current consensus earnings estimate is $0.17 per share on revenue of $87.2 million for the quarter ending September 30, 2011. Focus Media Reaffirms Monday, October 03, 2011  7:17:00 AM ET   View:   Complete Article | Historical Guidance Focus Media Holding Ltd. (FMCN) said it continues to expect third quarter revenue of $186.0 million to $190.0 million. The current consensus estimate is revenue of $186.6 million for the quarter ending September 30, 2011. Wolverine World Wide Raises Guidance but Remains In-line with Estimates Monday, October 03, 2011  6:30:00 AM ET   View:   Complete Article | Historical Guidance Wolverine World Wide Inc. (WWW) said it expects 2011 earnings of $2.46 to $2.52 per share on revenue of $1.40 billion to $1.43 billion. The company's previous guidance was earnings of $2.40 to $2.50 per share on revenue of $1.38 billion to $1.42 billion and the current consensus earnings estimate is $2.49 per share on revenue of $1.42 billion for the year ending December 31, 2011.

  Negative Guidance

Vitesse Semiconductor Lowers Guidance Monday, October 03, 2011  8:00:10 AM ET   View:   Complete Article | Historical Guidance Vitesse Semiconductor Corp. (VTSS) said it expects fourth quarter revenue of $29.0 million to $30.5 million. The company's previous guidance was revenue of $35.0 million to $38.0 million and the current consensus estimate is revenue of $35.8 million for the quarter ending September 30, 2011. AudioCodes Guides Lower Monday, October 03, 2011  8:00:09 AM ET   View:   Complete Article | Historical Guidance AudioCodes Ltd. (AUDC) said it expects third quarter revenue of $36.0 million to $37.0 million. The current consensus estimate is revenue of $43.6 million for the quarter ending September 30, 2011. The company also said it expects 2011 revenue of $155.0 million to $162.0 million. The company's previous guidance was revenue of $167.0 million to $174.0 million and the current consensus estimate is revenue of $171.5 million for the year ending December 31, 2011.

Source: EarningsWhispers

Eastman Kodak Weighing Options Including A Bankruptcy Filing...

End of an era!!

Eastman Kodak Co. (EK), the unprofitable 131-year-old camera maker, is weighing options including a bankruptcy filing because of concerns raised by possible bidders for its patent portfolio, said three people with direct knowledge of the process. 

Some potential buyers of the patents are reluctant to proceed with bids because a purchase may amount to a so-called fraudulent transfer if Kodak becomes insolvent, said the people, who asked not to be named because the talks are private. 

A number of suitors, such as Google Inc. (GOOG), have signed confidentiality agreements to examine the assets, said these people. If a sale were judged a fraudulent transfer, creditors could later sue for more money, said one of the people. A bankruptcy filing may help clear the way for the patent sale, said the people. The sale could fetch about $3 billion, according to estimates from MDB Capital Group. 

Kodak has discussed its options with law firms Kirkland & Ellis LLP and Jones Day, the people said. It hasn’t yet hired a firm and a filing isn’t imminent, they said. Lazard Ltd. is advising Kodak on options for the patent portfolio. 

“As we sit here today, the company has no intention of filing, and there is no change in our strategy to monetize our intellectual property,” said Gerard Meuchner, a spokesman for Kodak. “We’re not concerned about fraudulent conveyance in regards to the sale of our IP portfolio.”
He declined to comment on whether the company had discussed a potential filing with law firms, saying that Kodak is “focused on the fourth quarter and on delivering on our strategy to become a profitable, sustainable digital company.” 

Exploring Options
A representative from Kirkland declined to comment. Katelin Todhunter-Gerberg, a spokeswoman for Mountain View, California- based Google, didn’t immediately respond to voice-mail and e- mail messages seeking comment, nor did an official for Jones Day.
Moody’s Investors Service cut Rochester, New York-based Kodak’s bond ratings this week and indicated further reductions may follow, citing “ongoing weakness” in the company’s operations. Kodak, which tapped a credit line earlier this month, has seen its market value sink by more than $30 billion from its 1997 peak. 

Chief Executive Officer Antonio Perez announced plans in July to explore options for the portfolio of more than 1,100 patents, including some for processing, editing and storing images. Perez, who took the helm in 2005, has sharpened Kodak’s focus on the printing business to help revive revenue. 

Sales have fallen by half since 2005 to $7.2 billion last year, with further declines predicted this year and next. The company’s losses since 2008 exceed $1.76 billion.Kodak, whose origins date back to 1880, was founded by George Eastman, who introduced the Kodak camera eight years later, according to the company’s website. Kodak has shifted away from traditional film as consumers gravitated toward digital cameras.

Source: Bloomberg 

Earnings: Arch Coal, Key Technology, Ingersoll Rand, Alpha and Omega Semiconductor

Negative Guidance

Arch Coal Lowers Guidance Friday, September 30, 2011  4:32:00 PM ET   View:   Complete Article | Historical Guidance Arch Coal, Inc. (ACI) said it expects 2011 earnings of $1.00 to $1.40 per share. The company's previous guidance was earnings of $1.75 to $2.15 per share and the current consensus earnings estimate is $2.02 per share for the year ending December 31, 2011. Key Technology Guides Below Estimates Friday, September 30, 2011  9:30:06 AM ET   View:   Complete Article | Historical Guidance Key Technology Inc. (KTEC) said it expects fourth quarter revenue of approximately $26.3 million. The current consensus estimate is revenue of $29.8 million for the quarter ending September 30, 2011. Sun Healthcare Guides Below Estimates Friday, September 30, 2011  8:30:34 AM ET   View:   Complete Article | Historical Guidance Sun Healthcare Group Inc. (SUNH) said it expects 2011 earnings of $0.83 to $0.94 per share on revenue of $1.925 billion to $1.945 billion. The company previously withdrew its earlier guidance for earnings of $1.30 to $1.45 per share on revenue of $1.95 billion to $1.995 billion. The current consensus earnings estimate is $1.04 per share on revenue of $1.94 billion for the year ending December 31, 2011. Ingersoll-Rand Lowers Guidance Friday, September 30, 2011  7:00:00 AM ET   View:   Complete Article | Historical Guidance Ingersoll-Rand Co. (IR) said it now expects third quarter earnings of $0.77 to $0.80 per share on revenue of $3.90 billion to $3.95 billion. The company's previous guidance was earnings of $0.85 to $0.95 per share on revenue of $3.85 billion to $3.95 billion and the current consensus earnings estimate is $0.91 per share on revenue of $3.90 billion for the quarter ending September 30, 2011. The company also said it now expects 2011 earnings of $2.70 to $2.80 per share on revenue of $14.85 billion to $15.00 billion. The company's previous guidance was earnings of $2.90 to $3.10 per share but now expects revenue of $14.7 billion to $14.9 billion and the current consensus earnings estimate is $2.97 per share on revenue of $14.78 billion for the year ending December 31, 2011. Alpha and Omega Semiconductor Lowers Guidance Friday, September 30, 2011  6:00:09 AM ET   View:   Complete Article | Historical Guidance Alpha and Omega Semiconductor Ltd. (AOSL) said it expects first quarter revenue of $81.0 million to $83.0 million. The company's previous guidance was revenue of $83.0 million to $87.0 million. There currently are no revenue estimates for the quarter ending September 30, 2011.

Source: EarningsWhispers