Wal-Mart Stores (WMT ) posts 0.7% higher total U.S. March same-store sales without fuel, 1.1% higher with fuel, 7.9% higher total sales. Because of the Easter calendar change, its potential positive impact on Apr. sales period, expects same-store sales without fuel for April four-week period in the U.S. of 1%-3%. Raises $0.70-$0.74 first quarter EPS from continuing operations guidance to $0.74-$0.76.
DuPont (DD) raises $1.14-$1.19 first quarter EPS guidance to $1.29, reflecting strong growth in its agriculture businesses, rapid growth in emerging markets. Sees first halfEPS growth of about 10%, with second quarter EPS about equal to 2007 at $1.05. Raises lower end of its 2008 EPS outlook by $0.05 to $3.40-$3.55.
This morning's WSJ reports that Yahoo (YHOO) and Time Warner's (TWX) AOL unit are closing in on a deal to combine their Internet operations, a move aimed at thwarting Microsoft's (MSFT) bid to acquire Yahoo. But Microsoft is recrafting its plan by talking with News Corp. (NWS) about a joint bid, according to the article. Last night, Yahoo announced that it will begin a limited test of Google's (GOOG) AdSense for Search service, which will deliver relevant Google ads alongside Yahoo's own search results. S&P reiterates hold.
Millennium Pharmaceuticals (MLNM) agrees to be acquired by Takeda Pharmaceutical in $8 billion deal. Terms: $25 cash per MLNM share.
Bed Bath & Beyond (BBBY) posts $0.66, vs. $0.72 a year ago, fourth quarter EPS on slight decline in same-store sales, 3.1% net sales decline. Assuming no significant change in the macroeconomic environment, estimates fiscal year 2009 EPS will decline from a low double digit percentage to a mid teens percentage from the $2.10 reported in fiscal year 2008, on flat to slightly negative comps. Sees 40.26-$0.30 first quarter EPS.
Pier 1 Imports (PIR) posts $0.16 fourth quarter EPS, vs. $0.67 loss a year ago, on 2.5% rise in same-store sales, 7.8% drop in total sales.
Mothers Work (MWRK) posts 6% lower March same-store sales, 7.6% lower total sales. Due to lower-than-planned sales and gross margins for the second quarter, it now sees $0.05-$0.10 second quarter loss per share, below prior guidance for EPS of $0.19-$0.35.
Limited Brands (LTD) posts 8% lower March same-store sales, 18% lower total sales.
Cache (CACH) posts flat March same-store sales, 1% higher total sales. Expects first quarter loss of $0.13-$0.14, including charges of approximately $0.10 for the closure of underperforming stores and $0.03 in costs related to a previously announced management change.
Bebe Stores (BEBE) posts on 7.6% lower third quarter same-store sales, 4% higher total sales.
Zumiez (ZUMZ) posts 3.0% lower March same-store sales, 11% higher total sales.
WD-40 Company (WDFC) posts $0.51, vs. $0.52 a year ago, second quarter EPS on slight sales decline. Household products sales were down 14% in the second quarter. Sees fiscal year 2008 EPS of $1.80-$1.90, compared with consensus estimate of $1.89, on sales growth of 4%-8%, or $320-$332 million. Previous guidance was for $1.83-$1.93 EPS on sales growth of 7%-10%.