Electronic Arts (ERTS) posts $0.06 second quarter non-GAAP loss per share, vs. $0.27 EPS a year ago, despite 20% revenue rise. Sales were driven by the launches of Madden NFL 09, SPORE, Mercenaries 2: World in Flames, NCAA Football 09, Tiger Woods PGA TOUR 09, Warhammer Online: Age of Reckoning, as well as the continued strength of Rock Band. To cut 6% of workforce. Sees fiscal year 2009 non-GAAP EPS of $1.00-$1.40 on revenue of $5-$5.3 billion (non-GAAP basis). Street is looking for $1.42 fiscal year 2009 EPS.
McAfee (MFE) rises 4.65 to 32.40 after the company posts $0.53, vs. $0.44, third quarter non-GAAP EPS on 27% revenue rise. Expects fourth quarter revenue of $400-$420 million and non-GAAP EPS of $0.50-$0.56. S&P maintains hold. Stifel Nicolaus raises estimates, reiterates hold.
Wynn Resorts (WYNN) jumps 13.79 to 60.29 after the company posts $0.62, vs. $0.67, third quarter EPS despite 18% revenue rise. S&P says results beat its estimate, but believes valuation is full on exposure to economic slowdown. S&P cuts estimates, target, reiterates sell.
AON Corp. (AOC) rises 3.86 to 41.96 after the company posts $0.69, vs. $0.52, third quarter EPS from continuing operations (excluding certain items) on 6% revenue rise. S&P maintains buy.
Bankrate (RATE) posts $0.32, vs. $0.28, third quarter EPS on 77% higher revenue. Expects 2008 revenue to be between $164-$169 million, and adjusted EBITDA to be between $54-$58 million.
Morningstar (MORN) falls 3.36 to 36.44 after the company posts lower-than-expected $0.45, vs. $0.41, third quarter EPS on 12% revenue rise. Street was looking for $0.51. Keefe Bruyette downgrades to market perform from outperform.
Bare Escentuals (BARE) drops 2.19 to 4.68 after the cosmetics maker posts $0.25, vs. $0.22, third quarter EPS on 3% sales rise. Street was looking for EPS of $0.26. Based on third quarter results and impact of challenging consumer environment on current business trends, now sees 2008 sales and earnings growth of about 10%. S&P cuts estimates, target. Maintains buy. Wedbush Morgan downgrades to hold from buy.
Express Scripts (ESRX) posts $0.81, vs. $0.61, third quarter EPS from continuing operations on 1.7% revenue rise. Now sees 2008 EPS from continuing operations of $3.07-$3.10. Cash flow from continuing operations is expected to be $1.0-$1.1 billion. As a result of expected growth in generic utilization, home delivery and specialty pharmacy management, as well as lower drug purchasing costs, sees 2009 EPS of $3.63-$3.73. Citigroup upgrades to buy from hold.
Chevron (CVX) posts $3.85, vs. $1.75, third quarter EPS on 36% higher sales, operating revenue.
General Motors (GM) - According to a story on Reuters newswire, a deal to merge GM and Chrysler LLC has hit an impasse after the Bush administration ruled out funding for it, citing three people with direct knowledge of the talks. This puts any merger of the struggling automakers on hold until after the U.S. presidential election, the sources said.
Yahoo (YHOO) - WSJ reports that the prospects for a Web-advertising partnership between (~