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Market Update : 
Split Averages Ahead of Tech Earnings
Author: 123jump.com Staff
123jump.com
Last Update: 10:53 AM ET July 13 2005


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Morning positive report on trade deficit has overshadowed the mild up-tick in the oil price in London and New York. The stocks are likely to respond to the earnings news. Report from Abbott, Harley Davidson and AMB Property will support the morning trend for the higher opening. After the close the companies Apple and Advanced Micro are scheduled to report earnings.

 
Wolverine World Wide, casual shoes maker, announced 2Q earnings rise of 22 cents per share vs. 18 cents last year on stronger sales and profit increases at its Outdoor Group & Hush Puppies unit. Analysts had expected net income of 21 cents per share.

International Electronics, electronic access control product maker, reported 3Q net loss of 8 cents per share down from a loss of 18 cents a share a year ago on 13% sales growth.

Party City, retailer of party supplies, posted decline in 4Q same-store sales of 0.8% citing weak demand for seasonal merchandise.

Winmark Corporation, financial services provider, reported 2Q net income fall of $08 per share compared with $11 per share last year.

Rocky Mountain Chocolate Factory, confectionery products maker, announced 1Q profit growth of 11 cents a share vs. 9 cents a year earlier on improved sales. Same-store sales rose 4.1%. The company backed its full-year outlook.

Resources Global Professional, business consulting firm, posted 4Q net income rise to 31 cents a share, up from 22 cents a year ago reflecting 40% jump in sales. The quarterly profit exceeded expectations of 22 cents a share.

Innoves, manufacturer of flexible circuits, reported 3Q narrower net loss of 13 cents per share compared with 88 cents last year on sales growth and strong demand for flat-panel display products. Analysts had expected a wider loss of 14 cents a share.

FRANKLIN COVEY CO, provider of professional leadership and training services, posted a narrowed loss of 34 cents a share against a loss of 37 cents in the comparable period last year.

Century Bancorop A, reported 2Q profit fall of 37 cents per share compared with 43 cents a year ago on higher operating expenses.

AMB Property Corporation, global developer and owner of industrial real estate, posted 2Q earnings rise of 45 cents a share vs. 20 cents a year ago on development and contribution gains. The quarterly results exceeded previous company’s guidance of earnings from 30 to 33 cents a share
BANK OF THE OZARKS, reported 2Q profit increase of 46 cents a share compared with 38 cents last year on record interest income and service charges.
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