JoS A Bank Clothiers, retailer, announced 2Q earnings went up 55.8% to 37 cents a share, and raised its full year earnings guidance to a $2.15 to $2.19 range. Analysts expected 2Q earnings per share of 33 cents and $2.14 a share fro the full year. JoS. A Bank Clothiers had posted before a 20.2% sales increase. Comparable store sales advanced 4.9%.
Core-Mark, convenience retail industry distributor, reported today first-half net income of 2005 advanced to 56 cents per share, up vs.14 cents per share for the same period last year on a strong net sales growth and a significant income increase from operations for the same period of 2005.
Lowrance Electronics, reported 4Q net income advanced to 49 cents a share, slightly down from 51 cents a share in the year-ago period despite 59% sales growth. 5.1 million diluted shares were outstanding in the current quarter, up from 4 million diluted shares a year ago.
Psychiatric Solutions, behavioral health care services provider, improved its 2006 earnings outlook to $2.10 to $2.15 a share from $1.97 to $2.05 a share owing to better-than-expected terms of its new credit facilities and sustained growth in its existing and acquired operations. The forecast takes into account the impact of planned 3.5 million share offering, but does not include the influence of any future acquisitions. The analyst estimate had been of earnings of $2.09 a share.
TradeStation Group, Internet-based securities brokerage provider, reported its daily average revenue trades for August advanced 32%. Client assets increased 15% as of Aug 31. The company stock went up 7 cents to $9.32 on Friday.
CORPORATE NEWS
Capital Automotive REIT agreed to be acquired by clients advised by DRA Advisors LLC for the total value of $3.4 billion, or $38.75 a share, including assumption of debt and preferred shares. The transaction is expected to close at the end of 2005 or the beginning of 2006.
The Spanish Gas Natural SDG made a takeover bid for Endesa, Spanish power utility, for 23 billion euros, or 21.30 euros a share, as 65% of the deal will be in stock and the rest in cash. The successful completion of the deal is expected to create one of the biggest energy producers in Europe.
General Motors GM should be observed as Deutsche Bank cut down its rating on the world's biggest car maker's debt to sell from hold, and affirmed a sell rating on the share, while also downgrading stocks of three suppliers, American Axle and Manufacturing AXL, Dana Corp. (DCN and Lear Corp. LEA.
American National Insurance ANAT announced that its subsidiaries estimate the pre-tax net loss, net of reinsurance will be in the $17 million range, following Hurricane Katrina. Estimated pre-reinsurance losses might go up to the $100 million range based on preliminary modeled losses.
British Airways BAB said passenger traffic decreased 0.7% in August, damaged by the strike that came as a result of catering firm Gate Gourmet firing several workers. Premium traffic declined 4.7% during the month.
Carnival Corp. CCL found it impossible to go ahead with one cruise and shortened the voyages of two others because of hurricanes. The cruise line operator announced it's chartered its cruise ships Ecstasy, Sensation and Holiday to the Military Sealift Command for the Federal Emergency Management Agency. The ships will ensure emergency housing to about 7,000 evacuees. |