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The following defense contracts were announced Tuesday.
Perini Corp. (PCR) received a delivery order as part of a $52.4 million firm-fixed-price contract for design and construction of Afghan National Army Regional Brigade Facilities. The work will be completed by April 11, 2005.
Lockheed Martin Corp. (LMT) received a $10.5 million modification to a firm-fixed-price contract for 283 target acquisition designation sight electronic display and control, line replacement unit spares, and active matrix liquid crystal display for the Apache Aircraft. The work will be finished by June 30, 2006.
Environmental Chemical Corp. received a $6.04 million delivery order as part of a $19.5 million cost-plus-incentive-fee contract for a remedial investigation, feasibility study, and remedial design activities at Camp Edwards. The work will be completed by March 19, 2012.
BAE Systems (BA.LN) received received $5.66 million increment as part of an $11.9 million firm-fixed-price contract for 70 CV-3338B/ASN-128D signal data converters with an upgrade of computer display unit software, and associated logistics and technical documentation. The work will be completed by Oct. 20.
General Dynamics Land Systems (GD) received a $5.12 million order as part of a $56.9 million cost-reimbursable contract for long lead material for 59 M1A1 Abrams Integrated Management Vehicles. The work will be performed by the end of current fiscal year.
Jacobs Engineering Group Inc. (JEC) received a $75,000 delivery order as part of a $300 million firm-fixed-price, guaranteed-fixed-price, cost-plus-fixed-fee, cost-plus-award-fee, and cost-plus-incentive-fee contract for remediation services such as hazardous, toxic and radioactive waste, ordnance and explosive, operations and maintenance, construction/remediation support and clean-up. The work is slated to be completed by July 6, 2014.
Science Applications International Corp. (SAP.XX) received a $75,000 delivery order as part of a $300 million firm-fixed-price, guaranteed-fixed-price, cost-plus-fixed-fee, cost-plus-award-fee, and cost-plus-incentive-fee contract for remediation services such as hazardous, toxic and radioactive waste, ordnance and explosive, operations and maintenance, construction/remediation support and clean-up. The work should be finished by July 6, 2014.
The company also received a $5.12 million time and materials contract modification. This modification involves finding form, fit and function subassembly replacement for items that are unsupportable due to increasing obsolescence problems. This work will be complete by March 2006.
"Trade What Is Happening...Not What You Think Is Gonna Happen"
Today's MoMo...By popular request, I am including(at least till the market improves)NYSE and AMEX stocks along with NAZ issues...So, criteria is Top RS stocks in my database, Gained at least 2% on at least 1.5x ADV:
Unless otherwise noted, the company earnings figures are on a diluted basis and First Call assumes earnings estimates are on a diluted basis.
Upside Surprises
Companies whose quarterly net income (or loss) was better than the mean estimate provided by First Call:
Net Or First Call
(Loss) Mean Estimate
Apple AAPL 3Q Op 17c 15c
CEC Entertainment CEC 2Q 40c 39c
City National CYN 2Q $1.03 $1.02
Doral Fincl DRL 2Q 96c 91c
Illumina ILMN 2Q (10c) (12c)
Planar Sys PLNR 3Q 18c 13c
SanDisk SNDK 2Q 38c 30c
Downside Surprises
Companies whose quarterly net income didn't meet the First Call mean estimate or companies that reported an unexpected loss or a greater-than-expected loss:
Net Or First Call
(Loss) Mean Estimate
W-D 40 Co. WDFC 3Q 35c 42c
On-Target Earnings
Companies whose quarterly net income matched the First Call mean estimate:
Net Or First Call
(Loss) Mean Estimate
Advanced Micro Devices AMD 2Q 9c 9c
Progressive Corp. PGR 2Q $1.76 $1.76
Qlogic Corp. QLGC 1Q Op 36c 36c
Ruby Tuesday RI 4Q 46c 46c
Teleflex Inc TFX 2Q 84c 84c
So Far Today
Upside Surprises 9
Downside Surprises 1
On-Target Earnings 7
Apple shares rise 2% in late trading after 3Q beat expectations and computer maker gives 4Q outlook generally in line with analysts' estimates. Revenue of $2.01 billion handily exceeds forecasts as brisk iPod sales continue and PC sales rise nearly 14%. Earnings excluding charges of 17c a share is 2c better than Street's forecasts.
AMD SWINGS TO PROFIT, MEETS VIEWS
Advanced Micro Devices posts net of $32 million, or 9c a share, matching Wall Street estimates. Sales soar 96% to $1.26 billion driven by demand for microprocessor and flash-memory products. Shares continue to fall after hours.
SANDISK SOARS AS 2Q PROFIT RISES 73%
Shares jump 20% after hours as memory-chip maker reports 2Q net income of $71 million, or 38c a share, topping Wall Street expectations by 8c. Revenue increases 85% to $433 million, also ahead of estimates.
GREEN ENDS BID FOR MARKS & SPENCER
Philip Green abruptly ends his effort to acquire Marks & Spencer, despite having won support from key shareholders. Marks & Spencer had refused to recommend Green's proposals, most recent of which was for $16.9 billion.
TALK OF SCHWAB UNIT SALE INTERESTS STREET
Wall Street is reacting with interest to prospect of a sale of Charles Schwab's capital-markets unit, raised by a New York Post article, though an actual deal hasn't materialized.
INTEL SLIDES ON PROFIT-MARGIN OUTLOOK
Shares shed more than 10% a day after tech bellwether posts net largely in line with forecasts but lowers its forecast for gross margins and excess inventory in second half, putting pressure on market at large as well as rival chip makers.
MCDONALD'S GAINS ON RAISED FORECAST
Shares add 3% after company said sales for McDonald's restaurants rose 8.4% in June and 11.6% in 2Q, leading to 27% increase in expected 2Q net to 47c a share. Wall Street is expecting EPS of 44c.
SENATE REJECTS GAY MARRIAGE BAN
Senate vote deals an election-year blow to Bush administration, rejecting pleas from the president and fellow conservatives that the measure was needed to safeguard an institution that has flourished for thousands of years.
BANK OF AMERICA BEATS VIEWS; SEES STRONG 2H
Bank of America's consumer business helps boost 2Q profit by 41%. Bank is optimistic earnings will continue to show strength through second half of year as it meets integration goals for FleetBoston acquisition. Shares flat.
CASES AGAINST ABBOTT DIET DRUG DISMISSED
Judge says plaintiffs in 113 cases failed to show sufficient evidence that anti-obesity drug Meridia caused severe side effects such as heart attacks and birth defects.
FOREX GROUP REVISES ANTI-FRAUD GUIDELINES
Advisory group made up of foreign-exchange professionals adopts new recommendations for currency trading to address concerns about fraud arising from currency scam bust late last year.
US RETAIL SALES, IMPORT PRICES FALL
Retail sales fall 1.1% in June, sharpest drop in more than a year, as higher energy prices take toll on consumer. Also, import prices decline 0.2%, validating Fed's view that inflation is likely to be tame.
CAESARS RISES ON POSSIBLE HARRAH'S BID
Shares jump 16% after The Wall Street Journal reports casino operator is close to being acquired by Harrah's Entertainment in deal that would create world's biggest gambling company. Harrah's slips 2%.
MOSUL GOVERNOR ASSASSINATED
Iraqi insurgents toss hand grenades and fire machine guns at convoy in Mosul, killing governor and two guards. Earlier, suicide attacker detonated car bomb near British Embassy and headquarters of Iraqi government, killing at least 10.
UK IRAQ INTELLIGENCE INADEQUATELY CHECKED
Inquiry into U.K. intelligence failures leading up to Iraq war says key sources were inadequately checked and cites "serious weakness" in way government presented intelligence, but clears Tony Blair of distorting information.
SEC CLOSER TO REGULATING HEDGE FUNDS
U.S. securities regulators move a step closer towards exercising oversight of hedge fund industry, proposing regulations that would require fund advisers to register with government and open their books and records.
FED FUNDS SEE 25-POINT HIKE IN AUGUST
Fed funds futures price in near 10% chance of a 50 basis point hike and a 90% chance of a 25 basis point hike at Aug. 10 Fed meeting, but some feel that if this week's inflation data come in weak, those odds could drop drastically.
STEEL STOCKS UP ON SCRAP PRICE OPTIMISM
Steel Dynamics gains 6% and AK Steel adds 5% after several analysts make upbeat comments about sector due to effect of higher scrap steel prices.
UAL MACHINISTS TO FIGHT PENSION CHANGES
Indicates it will fight United Airlines parent's deferral of $72.4 million pension payment as concern mounts that airline's pensions might be toast. UAL says deferral would help while it tries to exit bankruptcy. Shares lose 5%.
DEMOCRATS CONTINUE OVERTIME FIGHT
Responding to reports concluding that new overtime rules will hurt U.S. workers, Iowa Sen. Tom Harkin vows to use any means necessary to block rules from taking effect.
=======
LATE TRADING
Apple, SanDisk Rise; AMD Slips
Apple adds 2% in late session after 3Q results beat expectations and company gives positive 4Q outlook. Sandisk surges after better-than-expected 2Q results. Advanced Micro Devices loses 2% after giving vague 3Q sales outlook.
EARNINGS PREVIEW
IBM 2Q Seen In Line Despite Warnings
NYSE Composite Market Diary
. Today Prev Day
Advanced 1,572 1,703
Declined 1,688 1,552
Unchanged 166 168
Total Issues 3,426 3,423
New Highs 95 59
New Lows 43 28
.DOW JONES CLOSING AVERAGES: DJIA 10208.80 DN 38.79
30 INDUS 10208.80 DN 38.79 OR 0.38%
20 TRANSP 3085.22 UP 5.48 OR 0.18%
15 UTILS 279.83 UP 2.69 OR 0.97%
65 STOCKS 3007.42 UP 0.32 OR 0.01%
---
The Dow Jones Equity Market Index closed at 262.78, dn 0.80 points, or 0.30%, from the prior close. The volume for the stocks in the index totaled 1,897,605,000.
---
4 PM NYSE COMMON STOCK INDEX
ß Today Prev Day
ß 1,461,980,000 1,198,380,000 ß NYSE Common Stock Index
ßNYSE Composite 6488.80 DN 15.80
ßNYSE World Ldrs 5117.56 DN 15.01
ßNYSE US 100 5624.02 DN 8.83
ßInternational 100 4335.17 DN 21.99
ßNYSE TMT 4778.17 DN 41.81
ßFinancial 6597.83 DN 29.99
ßEnergy 7000.34 UP 62.33
ßHealth Care 5898.21 UP 10.59
This is a weekly ranking by First Call of the Lowest-rated stocks, based on analyst comments contributed within the past month to First Call's database.
To be included on the list, a company must be rated by at least five analysts.
IBM CFO:Full-Yr Earnings,Rev, Analyst View 'Reasonable'-2
During the conference call, CFO Loughridge said he was "very pleased" with IBM's results in the second-quarter. He said Big Blue's balance sheet remains strong at $8.2 billion.
Going into IBM's earnings report, nervousness abounded among tech investors, who feared a rash of software earnings warnings, coupled with excess inventory at Intel Corp. (INTC), would spread to Big Blue.
Analysts tried to alleviate those fears in recent days, saying IBM should meet analysts views, largely because of its multiple units that have recurring revenue streams. For instance, 60% of IBM's software revenue comes from monthly subscriptions. Not to mention its services business, which enabled it to weather the tech wreck.
For the second-quarter, IBM reported net income of $1.99 billion, or $1.16 a share, up from net income of $1.71 billion, or 97 cents a share, in the year ago second quarter. The company benefited from strength in servers and favorable currency-exchange rates.
Revenue came in at $23.15 billion, up 7% from $21.63 billion a year ago. Analyst had expected IBM to weigh in with earnings of $1.12 a share and revenue of $23.35 billion.
According to Loughridge, IBM's global services business will see year-to-year revenue and margin improvement for the second-half of the year. He noted that IBM's services backlog stands at $118 billion and the pipeline of short-term and long-term contracts is "solid" for the rest of the year.
In the case of its software unit, Loughridge said that business will see "modest" but positive growth in the third quarter, while its technology unit will post a pro forma profit in 2004.
As for Apple Computer Inc.'s (APPL) comments that a manufacturing problem at IBM delayed Apple's new line of iMacs, Loughridge pointed out that Apple's chip is just one of hundreds of chips that Big Blue manufactures.
"We do hundreds of different chips in microelectronics. We are meeting customer commitments except for one chip," he said. Loughridge noted that the chip it produces for Apple is "truly leading edge" with only two companies manufacturing the chip.
In after-hours action, shares of IBM were trading at $84.50, slightly higher than its regular session close of $84.02
"Trade What Is Happening...Not What You Think Is Gonna Happen"
ASE Tst 5.75 CitrixSys 16.50 Entegris 9.26
Interwoven s 7.56 PrdigmGen 0.66 SpectraLink 8.91
Actel 15.24 Cohu 15.84 Entrust 2.52
Intrado 9.70 PtnrsTr s 9.35 StratosIntl 4.31
Adolor 11.15 COLT Tele 2.98 ePlus 9.51
Intuit 36.12 PlexusCp 10.40 StridesJtblue n 23.55
AnadysPharma n 6.51 CptrNtwkTch 5.07 FfthThrd 50.50
Kopin 4.29 Plumtree 3.03 TalkAmHldgs 6.67
AppldInnovt 3.09 ConcrdComm 9.50 FstAlbny 8.90
LearnTreeInt 13.31 PortalSftwr s 2.72 TaroPharm 36.09
ArenaPharm 4.60 Convera 2.23 FogCutter 3.21
LbrtyMItl A n 33.82 REMEC Inc 4.86 UltraClean n 5.35
ATA Hldgs 3.40 CorixaCp 4.14 FrnklnBk n 15.05
MentorGraph 12.76 Repligen 1.75 Ultratech 12.74
AtlCstAir 4.37 Cray 5.40 FreshBrds 7.30
MetroOne 1.36 RschFrontr 6.37 UTStarcom 25.65
BUCA 4.42 CriticalPath s 0.91 GigaMedia 0.96
MdwstBanc 20.50 RockfordCp 3.80 VntriPrtners n 10.31
BlueMrtini 2.73 CumulusMda 15.09 HEI Inc 1.79
MonolithicSys 4.92 SCM Micro 4.28 VitesseSemi 3.43
Brooks Auto 15.71 Cymer 30.10 HiTechPhrml 14.07
Neopharm 8.75 ST Assmbly 7.15 WD40 24.55
BrukrBiSci 4.12 DepoMed 4.60 ICTS Int 1.70
NrthnTrust 39.48 SanminaCp 6.67 WirelessFac 8.54
CPAC Inc 5.36 DgtlInsght 16.95 ID Biomed 8.08
Orbitz A n 18.44 SapiensInt 2.14 XOMA 3.71
CallidusSftwr n 4.20 DPAC Tech 0.53 Inhibitex n 6.80
OrigenFnl n 7.11 SciClone 4.20 XyratexLtd n 10.62
CellThrp 5.71 ebookers ADS 8.88 InsWeb 3.90
OrphanMed 7.96 SkyWest 15.10 YungBdcst A 10.84
chinadotcom 6.17 EDEN Biosci 0.64 Intel 23.14
PalmHarbor 15.82 SkywrkSol 7.11 Zilog n 8.71
Ciprico 3.91
AMEX New 52-Week Highs And Lows
.
New 52-Week Highs 22
AdvMagnet 16.15 FriedmanInd 6.50 Jaclyn 5.43
MSNmntMng n 10.11 ProvWorRR 11.35 VlyNtlGas 11.23
AmSciEng 23.44 iShrDJUSEn 57.56 Medtox 11.50
MS Oil Bridges 10.70 Rotonics 1.93 Vndngdata n 4.75
AtlsPlas A 19.25 iShrGldSach 117.41 MerLynOil nts 12.37
NE Realty 72.70 SPDR Engy 32.38 VulcanCp 47.70
DevonEgy 69.96 iShrSPGbl GE 65.84 MerLyEngy06 13.15
PlymRub B 0.90
New 52-Week Lows 22
AXM Pharma n 3.40 AmWtrStar n 0.82 EndvrIntl n 3.19
MerLynIntel n 19.98 MS TX Instr n 22.95 Tengasco 0.30
Aerosonic 5.00 BootsCoots s 0.94 EngyInco&Gth n 19.98
MS NtlSemi n 19.55 S&PGlblEqty n 13.70 VangdInfoTch n 42.65
Alteon 0.94 CNE Grp 0.35 GblliUtilInco n 18.12
MS Avaya n 15.30 Segmentz n 1.10 WllsfrdProp 14.85
AmMtg 85 2.21 ComrcEngyGp n 1.88 Infosonics n 4.20
MS Tellabs n 8.02
[/code:1:e9cb8916cc]
"Trade What Is Happening...Not What You Think Is Gonna Happen"
The U.S. Department of Defense announced the following contracts Thursday:
Public Warehousing Co. (WARE.KW) received a $67.2 million indefinite delivery type of contract for prime vendor subsistence support for the Army, Navy, Air Force and Marine Corps. The work is slated to finish July 14, 2007.
General Electric Aircrafts Engine (GE) received a $7.75 million firm, fixed-price with price re-determination type of contract for airplane parts for the Navy and the Air Force. Performance is slated to be completed March 31, 2006.
"Trade What Is Happening...Not What You Think Is Gonna Happen"
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