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With consumers` moods on the economic watch list, a big mall operator will offer results Monday.



Mills Corp. (MLS: news, chart, profile), which runs more than a dozen megamalls, is expected by analysts polled by Multex to post 75 cents a share earnings on $52.7 million revenue. In entertainment sectors, animation filmmaker Pixar (PIXR: news, chart, profile) is seen posting 73 cents a share on nearly $79 million in sales and amusement park operator Six Flags (PKS: news, chart, profile) is expected to earn $1.45 a share on $576 million in sales.

Construction company Abrams Industries (ABRI: news, chart, profile) said its CFO, Thomas F. Stock, retired after 24 years with the company. He will be replaced by Rick Paternostro, previously the controller.

The earnings cops at Barron`s take another run at Amazon.com (AMZN: news, chart, profile), citing a performance that is "merely operating at slightly better than break-even, based on its own pro-forma definition of earnings -- a definition that excludes ongoing restructuring charges and options-based pay." Barron`s suggests that a reasonable price-to-earnings ratio could be 20, but based on its examination of Amazon fundamentals, it says such a ratio justifies a $5 price rather than Friday`s close at $19.80.

American Greetings (AM: news, chart, profile) is keeping certain expenses inside an envelope, says Barron`s, as the news magazine explores how to value the greeting-card company`s shares. The company pays "slotting fees" to gain display space from retailers. That expense is amortized, but Barron`s says the average length of contracts can`t be determined, despite interviews with company officials. Without knowing that amortization period, analysts tell Barron`s they can`t form a valuation or even how to apply the expense to estimate earnings.

Ratings agency A.M. Best lowered its debt outlook late Friday for Cigna (CI: news, chart, profile) and its life-insurance subsidiaries, saying that since a previous downgrade a week earlier Cigna had announced a shortfall in pension funding and results from Connecticut General that could, cumulatively, cut shareholder equity by $800 million. That bumps up Cigna`s debt-to-capital by two percentage points from just a week ago.

Disney (DIS: news, chart, profile) lands on the cover of Barron`s, with some value investors saying the Magic Kingdom looks like a beaten-down value. Amid low theme-park attendance and a movie division that hasn`t had a hit since 1994, analyst Henry Berghoef of Harris Associates tells Barron`s that Disney`s assets provide a breakup value that`s double its $17 price.

Fidelity National Financial (FNF: news, chart, profile) said after Friday`s close that its top officers had repaid all principal and interest under stock purchase plans. The title insurance and real-estate service firm said the move was voluntary and not explicitly required by the federal Sarbanes-Oxley Act.

Chemical product firm H.B. Fuller (FULL: news, chart, profile) said that as of Dec. 2, it will shift to the New York Stock Exchange and trade its shares under the ticker symbol "FUL."

Giga Information Group (GIGX: news, chart, profile) reported after Friday`s close that John Andrews has been named president and CEO of the e-business consulting firm.

Goody`s Family Clothing (GDYS: news, chart, profile) said after Friday`s bell that it ended talks with a private group that proposed to buy all its shares. Goody`s said the deal fell apart over the effect of the present economic environment on Goody`s business.

Magellan Health Services (MGLH: news, chart, profile) disclosed late Friday that it reached an accord for waivers of debt covenants through the end of the year. Also, the company said note holders formed a committee to ease communications on the HMO provider`s debt reduction plans.

Alan Abelson`s column in Barron`s addresses potential problems at hotel chain Marriott (MAR: news, chart, profile). Abelson notes a positive report and "buy" recommendation from Goldman Sachs, as well as follow-up complaints by short-sellers that Marriott`s accounting has problems. Abelson notes that Goldman has since added to its report, with a caution about problems at the chain`s Courtyard operation, where there is a broken covenant on some debt relating to low cash flow.

Reinsurance company Max Re (MXRE: news, chart, profile) said late Friday that its board approved an extra $25 million for a stock repurchase plan, raising the buyback total to $65 million.

Microsoft got an after-hours boost of more than 6 percent after a federal judge approved most of the software giant`s antitrust settlement with the Justice Department. See full story.

Metal and plastic fabricator Morton Industrial Group (MGRP: news, chart, profile) said it is selling its custom plastics operations to privately held Wilbert, a plastics company that is also identified by Hoover`s as the world`s largest maker of concrete burial vaults. Terms of the sale were not disclosed. Morton said the sale involves the custom plastics unit to file for Chapter 11 bankruptcy and, with court approval, obtain $2.5 million of debtor-in-possession financing from its existing lender GE Capital (GE: news, chart, profile).

Web-site operator Proxity Digital Networks (PDNW: news, chart, profile) said late Friday that its chairman, David Dugas, resigned to pursue other interests. Joseph A. Grace, Proxity president, was appointed chairman as a replacement. Proxity also said it has rescinded a joint venture with Media Fusion and that an asset deal with FunTrivia is also scrapped. An exchange of stock with Neighborhood Access Corp. will be restructured. Among Proxity`s initiatives is an attempt to transmit data over power lines.

Wireless telecom innovator Qualcomm (QCOM: news, chart, profile) could suffer in two years, says Barron`s, when South Korea`s phone system is built out. Noting that South Korea accounts for one-fifth of Qualcomm sales, Barron`s also notes that the 3G system Qualcomm backs is having a slow introduction in the U.S. and isn`t likely to be the overriding national system. Qualcomm reports earnings Thursday.

Luggage giant Samsonite (SAMC: news, chart, profile) said late Friday that it sold a plastics factory in Canada to Aegis Strategic Investment; terms were not released. The factory mostly makes parts for the auto industry.

Shares of embattled Tenet Healthcare (THC: news, chart, profile) were boosted in the extended trading session Friday as the company spent more than three hours on a conference call with investors. See full story.

Oil refiner Tesoro Petroleum (TSO: news, chart, profile) said late Friday that it sold 70 gas stations in Northern California for $67 million in cash. The buyers are USA Petroleum, Green Valley Gasoline, Nella Oil and Flyers LLC. In a separate matter, Tesoro said that though it continues to seek Federal Trade Commission approval to sell its Northern Great Plains Product System to Williams Energy Partners (WEG: news, chart, profile) for $110 million, Tesoro now has the right to pursue a deal with another purchaser.

Computer Unisys Corp.(UIS: news, chart, profile) said in a Friday SEC filing that it might take a $1 billion, fourth-quarter charge to account for pension funding unless markets improve.

Moody`s lowered its outlook on Weatherford International (WFT: news, chart, profile) to negative from stable late Friday, saying the oil-and-gas drilling service provider has low cash flow compared with its debt.

Hotel chain Wyndham International (WBR: news, chart, profile) said it sold a hotel in Columbus, Ga., for $11 million to Valley Hospitality. Wyndham said the hotel will retain its brand name under a franchise deal, the fifth it has completed this year.

Xcel Energy (XEL: news, chart, profile) power-generating subsidiary NRG Energy said late Friday that it missed a $9.6 million interest payment and has until Dec. 1 to make the payment to avoid default. NRG said it also missed Oct. 1 bond payments of $13 million and $21.6 million and is in default on those issues.
 
aus der Diskussion: Thema: Ventro, Umsätze enorm, unser kl. Zockertreff, Part 63
Autor (Datum des Eintrages): THECANADIEN  (03.11.02 12:28:23)
Beitrag: 63 von 1,003 (ID:7748056)
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