DOW JONES NEWSWIRES
Below is a synopsis of major quarterly releases from Tuesday
night and Wednesday morning:
Liz Claiborne Loss Widens; Sales Keep Falling
Liz Claiborne Inc.'s (LIZ) second-quarter loss widened on
falling revenue and flat margins as the seventh-straight quarterly
loss for the apparel maker was wider than Wall Street expected.
Shares fell 6% to $3.77.
Applied Materials Tops Views, Sees Improved Demand
Applied Materials Inc. (AMAT) swung to a fiscal third-quarter
loss but joined the ranks of technology companies reporting
improved demand. Results topped analysts' expectations, helping
send it stock up 4.4% to $13.80.
Bob Evans Posts Weak Sales; Shares Drop
Bob Evans Farms Inc.'s (BOBE) fiscal first-quarter earnings rose
17% despite disappointing same-store sales, as the restaurateur and
sausage maker benefited from lower costs in the restaurant segment.
Shares fell 75.7% to $26.62 amid the weak sales and as the company
reiterated its fiscal-year outlook.
E-House 2Q Results Soar On Chinese Housing Demand
Chinese builder E-House Holdings Ltd. (EJ) reported a 65% surge
in second-quarter earnings as the company's results handily topped
analysts' expectations and the company continues to quickly develop
new space. American depositary shares jumped 11.5% to $22.36 as the
company projected third-quarter revenue well above estimates.
Macy's Earnings Slump 90% On Restructuring; View Raised
Macy's Inc.'s (M) fiscal second-quarter earnings plunged 90% on
restructuring charges and lower revenue as earnings beat its
expectations and the company boosted its fiscal-year forecast.
Shares edged higher.
Cree Income Up 15%, Gives Upbeat Forecast
Cree Inc.'s (CREE) fiscal fourth-quarter profit rose 15% on
higher margins and sales for the semiconductor and LED lighting
company. Its stock climbed 8% to $34.38 as the company projected
results this quarter above analysts' expectations.
Clearwire Loss Narrows; Subscriber Growth Slows
Clearwire Corp.'s (CLWR) second-quarter loss narrowed slightly
as the wireless Internet provider continued to roll out its WiMax
wireless network into more cities. Shares fell 10.5% to $7.55 as
subscribership growth continued to slow.
JA Solar Posts Loss On Demand, Hedging Impacts
JA Solar Holdings Co. (JASO) swung to the red amid weak demand
and a hedging-related loss. American depositary shares were down
13% to $4.57; they have tripled in the past nine months.
Sara Lee Loss Narrows; Outlook Falls Short Of Estimates
Sara Lee Corp. (SLE) posted a narrower fiscal fourth-quarter
loss on sharply lower write-downs while lower sales were offset by
higher margins. The company also gave a downbeat forecast for its
new year, sending its stock down 7.4% to $10.
Ethan Allen Posts Loss; Earnings Minus Charges Top Views
Ethan Allen Interiors Inc. (ETH) swung to a loss, reflecting the
home-furnishings company's sales woes and costs of transferring of
upholstery production to North Carolina. But earnings excluding
items handily topped analysts' expectations, pushing shares up 5.2%
to $14.88.
Warnaco Income Down 8.3% On Weaker Sales, Margins
Warnaco Group Inc.'s (WRC) second-quarter profit dropped 8.3% as
the stronger dollar weighed on sales abroad and higher promotions
led to slumping margins. Still, the clothing retailer boosted its
full-year targets more in line with Wall Street's expectations.
Shares fell 1% to $37.94.
WuXi PharmaTech Earnings Soar 72%; Forecast Raised
WuXi PharmaTech Inc.'s (WX) earnings jumped 72% and the
research-and-development outsourcing company for pharmaceutical and
biotechnology concerns also increased its full-year profit outlook.
ADS rose 17% to $12.27.