European gold prices continued to advance. In London gold traded at the fixed price of $562.60 bid per troy ounce, up from $559.30. In Zurich the precious metal traded at $562, up from $558.40. In Hong Kong gold rose $7.40 to $562.70. Silver opened at $9.73, down from $9.75.

The U.S. dollar gained vs. the yen, fell against the euro and pound. The euro traded at $1.1938, up from $1.1921. The dollar bought 116.13, up from 115.73. The British pound stood at $1.7557, up from $1.7536.

EARNINGS NEWS

Saks Inc, (SKS: chart), retailer, reported a Q4 net loss of 2 cents a share, compared to net income of 71 cents a share in the year-earlier period. The company also okayed a special cash dividend of $4 a share, immediately following the expected closing on March 13 of the sale of its Northern Department Store Group. Q4 results incorporated net after-tax charges of $56.3 million, or 42 cents a share related to goodwill and other asset impairments. Revenue decline to $1.77 billion from $2.1 billion, reflecting the sale of the Proffitt's/McRae's business. The company missed analysts’ forecasts for earnings of 58 cents a share and revenue of $1.78 billion.

The Houston Exploration Co, (THX: chart), oil and gas company, reported Q4 earnings of 68 cents a share, down from a profit of $1.21 a share a year-ago due to revenue decline. The company stated that declines in production more than offset improvements in average realized prices for the quarter. Production for Q4 dropped to 26.3 billion cubic feet of natural gas equivalent, or bcfe, from 30.3 bcfe in last year's period. The company missed analysts’ estimates by a penny.

William Lyon Homes, (WLS: chart), single family home builder, reported that Q4 net income advanced to $10.11 a share, up from $8.58 a share last year. Net new home orders, a predictor of future activity, dropped 7% to 460 homes. The company announced that the softening of some of its markets it experienced in late 2005 is continuing into 2006 as orders are lower and cancellation rates are higher for the first eight weeks of 2006 relative to the year-ago period.

American Eagle Outfitters Inc, (AEOS: chart), apparel company, reported Q4 income of 71 cents a share, up from 66 cents a share in the year-earlier period on 13.4% total sales and 7.8%. same-store sales growth. Operating income rose to $174.2 million from $171.7 million last year.

SciClone Pharmaceuticals, Inc, (SCLN: chart), pharmaceutical company, reported a Q4 net loss of 4 cents a share, up from a loss of 5 cents a share in the year-ago period on revenue growth and a 22% jump in sales of Zadaxin, SciClone's lead product. The company predicted Zadaxin sales will advance to about $32 million in 2006, driven by continued growth in China.

Aristotle Corp, (ARTL: chart), manufacturer of products for the education, medical and agricultural markets, reported that Q4 net earnings advanced 54.7% to 9 cents a share on 5.9% net sales growth. Aristotle, announced that reductions in administrative and selling costs had more than offset higher energy prices and sluggish spending in the education market.

Fargo Electronics, Inc, (FRGO: chart), provider of sercure identity-card technologies, reported that Q4 net income increased 12% to 19 cents a share from the year-ago period on 7% sales growth. Gross profit margins advanced to 44% from 39%. The company predicted it will earn 13 cents to 15 cents a share in Q1, including one cent for the expensing of stock options.

Walter Industries Inc, (WLT: chart), diversified infrastructure company, posted a Q4 net loss of $1.88 a share, three times more than earned in the same period a year ago. Total revenue at the company advanced to $801.2 million from $391 million a year ago. Walter Industries beat analysts’ forecasts of $1.44 a share.