World Business

Friday’s stocks in the tidings

From Standard & Poor’s Equity Research

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Dell (DELL) posts $0.38, vs. $0.34 a year ago, first quarter EPS on 9% revenue rise. The PC maker says results were driven by means of better-than-industry growth of commercial and consumer products and services, and lower operating expense viewed like a percent of revenue. Street was looking for $0.34. S&P raises estimates, target; maintains buy. Merrill reportedly upgrades to buy from neutral.

Marvell Technology Group Ltd. (MRVL) posts $0.24, vs. $0.05, first quarter non-GAAP EPS in continuance 27% revenue rise. Oppenheimer upgrades to outperform from compass. JP Morgan reportedly upgrades to overweight from neutral.

J.Crew Group (JCG) is down 9.10 to 37.81 after the retailer posts $0.48, vs. $0.39, elementary quarter EPS on 14% higher same-store sales, 15% higher amount sales. Sees $0.31-$0.33 second quarter EPS, $1.70-$1.75 fiscal year 2009 (vs. prior guidance of $1.85-$1.87) on same-store sales growth in the ramble of flat to low single-digits. Citigroup downgrades to vend from hold.

Tiffany & Co. (TIF) posts $0.50, vs. $0.39, first quarter EPS on 3% same-store sales rise, 8% total sales rise (onward constant exchange rate basis). It sees worldwide net sales growth of about 10% in 2008, now sees EPS of $2.80-$2.90.

CIT Group (CIT) says, in response to Moody’s Investor Services downgrade of CIT’s senior unsecured rating to Baa1 from A3, that it disagrees with the ratings actions, particularly in airy of the significant progress it has made to strengthen its balance sheet, improve liquidity and thesis co. despite long-term success and profitability.

Reuters reports that United Airlines, the operating one of UAL Corp. (UAUA), and US Airways Group (LCC) have suspended merger talks owed to concerns concerning labor opposition and integration costs, while United draws closer to an similarity with Continental Airlines (CAL), a source close to the talks uttered late in succession Thursday.

WSJ reports that Harris Corp. (HRS) began fielding expressions of interest from potential buyers this week, with preliminary bids for the electronics and defense fellowship arriving in the low $70-per-share lie, or about $10 billion, according to people bosom friend with the matter. The branch noted that the preliminary bids were not so much than the $75-$80-per-share range the company’s board hopes to fetch, the people uttered.

Sigma Designs (SIGM) posts lower-than-expected $0.40, vs. $0.32, first quarter non-GAAP EPS on 58% revenue rise. Street was looking for $0.42. Sequentially, revenue fell 26%. RBC Capital downgrades to sector perform from outperform.

Omnivision Technologies (OVTI) posts lower-than-expected $0.27, vs. $0.06, fourth quarter non-GAAP EPS on 42% revenue rise. Street was looking for $0.32. Sees primeval quarter return of $170-$190 million and non-GAAP EPS of $0.27-$0.40.