News

TELENAV, INCORPORATED(TNAV) : TNAV posts $0.31 vs. $0.28 Q4 non-GAAP EPS on 45% revenue rise. Street was looking for $0.25. Sees $50M Q1 rev, $0.23 non-GAAP EPS. TNAV says it and SPRINT are in talks to amend material terms of their contract incl. extension of contract and TNAV's preferred provider status, changes to current per subscriber revenue model. TNAV anticipates any extended agreement would result in declines in ARPU, significant reductions in total revenue from S. JP Morgan downgrades to neutral from overweight.See

SIERRA WIRELESS, INC.(SWIR) : SWIR posts $0.14 vs. $0.05 Q2 non-GAAP EPS on 18% revenue rise. Street was looking for $0.08. Sees $0.15-$0.17 Q3 EPS on revenue of $168M-$173M. Morgan Joseph upgrades to buy from hold.See

POWER-ONE, INC.(PWER) : PWER posts $0.17 Q2 EPS vs. $0.08 loss on sharp sales rise, wider gross margin. Street was looking for $0.10. Consolidated bookings reached $757M. Sees Q3 revenue of $250M-$270M. S&P maintains buy.See

APPLIED MICRO CIRCUITS CORP.(AMCC) : AMCC posts $0.12 vs. $0.09 Q1 non-GAAP EPS on 35% revenue rise. Street was looking for $0.09. S&P maintains hold.See

AXT, INC.(AXTI) : AXTI posts $0.13 Q2 EPS (excl. sales tax refund) vs. $0.05 loss on 78% revenue rise. Street was looking for $0.08. Sees Q3 revenue of $24.7M-$25.5M, EPS of $0.12-$0.14. B. Riley raises estimates, target, reiterates buy.See

ITT CORP.(ITT) : ITT posts $1.14 vs. $1.05 Q2 adj. EPS from cont. ops on 1% revenue rise. Sees Q3 adj. EPS down 6% from year-ago, at $0.94-$0.98 on $2.7B revenue. For '10, taking into account the expected $0.11 impact of acquisitions and discontinued ops, projects '10 adj. cont. EPS of $4.08-$4.18. S&P reiterates strong buy.See

MEMC ELECTRONIC MATERIALS, INC.(WFR) : WFR posts $0.06 vs. $0.01 Q2 EPS on 58% sales rise. Street was looking for EPS of $0.09. Expects '10 EPS to be below previous guidance of $0.70-$0.80, despite revenue of about $1.85B. S&P downgrades to hold from buy. Wunderlich Securities downgrades to sell from buy.See

ARCH COAL, INC.(ACI) : ACI posts $0.41 Q2 EPS vs. $0.11 loss on 38% rise in revenues. Sees $0.98-$1.26 '10 GAAP EPS, including non-cash amortization of acquired coal supply agreements; excluding this non-cash charge, adjusted EPS would be $1.10-$1.40. S&P upgrades to buy from hold.See

REALNETWORKS, INC.(RNWK) : RNWK posts $0.19 Q2 loss vs. $1.40 loss on 35% lower net revenue. The Street was looking for a $0.09 loss. For Q3, RNWK expects overall revenue to be slightly lower sequentially, primarily due to softness in Games, and to fall year over year vs. Q3 '09 total revenue, excluding music. Expects Q3 adjusted EBITDA to rise slightly sequentially and to fall year over year. S&P keeps hold. Morgan Keegan cuts to market perform from outperform.See

DOMTAR CORP.(UFS) : UFS posts $2.67 vs. $1.59 Q2 EPS (excl. items) on 17% sales rise. S&P upgrades to buy from hold.See

TELECOMMUNICATION SYSTEMS, INC.(TSYS) : TSYS posts $0.06 vs. $0.13 Q2 EPS despite 39% revenue rise. Earnings decline was partially due to 2010 non-cash charges and shares outstanding resulting from 2009 acquisitions. Street was looking for EPS of $0.08. Oppenheimer downgrades to perform from outperform.

MCAFEE, INC.(MFE) : MFE posts $0.63 vs. $0.60 Q2 non-GAAP EPS on 5.7% non-GAAP revenue rise. Street was at $0.60. Sees Q3 non-GAAP EPS of $0.62-$0.66. S&P maintains hold.See

TENNECO INC.(TEN) : TEN posts $0.62 Q2 adjusted EPS vs. $0.22 adjusted loss on 36% higher revenue. S&P upgrades to buy from hold.See

ABAXIS, INC.(ABAX) : ABAX posts $0.16 vs. $0.17 Q1 EPS despite 18% revenue rise. While EPS were a penny shy of Street view, revenue beat.

GENWORTH FINANCIAL, INC.(GNW) : GNW posts $0.24 vs. $0.02 Q2 op. EPS on 2.9% revenue drop. Street was at $0.28. Separately, GNW reportedly among cos. subpoenaed by New York Attorney General Andrew Cuomo in insurer probe. S&P keeps buy.See

DYNAMIC MATERIALS CORP.(BOOM) : BOOM posts $0.23 vs. $0.12 Q2 EPS on slight sales rise. In addition to stronger-than-anticipated sales, net income benefited from a $2.1M, 1X gain associated with previously announced acquisition of the remaining interest in two Russian joint ventures. Expects '10 sales to be down about 5%, vs. previous forecast of flat to down 5%. S&P downgrades to sell from hold.See

GERON CORP.(GERN) : GERN announces that the FDA has notified co. that the clinical hold placed on its IND application has been lifted, its Phase I clinical trial of GRNOPC1 in patients with acute spinal cord injury may proceed. Says FDA notification enables co. to move forward with the world's first clinical trial of a human embryonic stem cell (hESC)-based therapy in man.

RUTH'S HOSPITALITY GROUP, INC.(RUTH) : RUTH posts $0.09 vs. $0.10 Q2 EPS as higher expenses offset a 2.9% rise in company-owned same restaurant sales and a 3.0% rise in total revenue. S&P maintains sell.See

LITHIA MOTORS, INC.(LAD) : Posts $0.27 vs. $0.22 Q2 EPS on 19% higher same-store sales, 20% higher total sales. S&P upgrades to buy from hold.See

WARNER CHILCOTT PLC(WCRX) : WCRX sets recapitalization pursuant to which it intends to incur, subject to market and other conditions, $2.25B of new debt to fund a special dividend to WCRX ordinary shareholders of $8.50 per share, or about $2.15B in aggregate. Now sees adj. '10 revenue near the lower end of current guidance range of $2.90B-$2.95B. Raises $3.30-$3.40 '10 adj. EPS forecast to $3.45-$3.55, before giving effect to the impact of the proposed recapitalization plan. S&P cuts to hold from buy.See

GEN-PROBE INC.(GPRO) : GPRO posts $0.52 vs. $0.45 Q2 non-GAAP EPS on 15% revenue rise. Street was looking for $0.49 EPS. Sees Q2 non-GAAP EPS of $2.12-$2.25 on revenue of $545M-$562M. Street is looking for EPS of $2.18. S&P maintains hold.See

EXPEDIA, INC.(EXPE) : EXPE posts $0.40 vs. $0.14 Q2 EPS on 8.3% higher revenue. S&P reiterates buy.See

INTERMEC, INC.(IN) : IN posts $0.03 Q2 non-GAAP loss vs. $0.03 loss despite 2.2% revenue rise. Street was at $0.01 loss. IN sees Q3 revenues of $160M-$170M, non-GAAP EPS of $0.01-$0.04.

CHIQUITA BRANDS INTERNATIONAL, INC.(CQB) : CQB posts $1.40 vs. $2.08 Q2 non-GAAP EPS on 4% lower sales. The Street, however, was looking for only $1.10 EPS. On a GAAP basis, EPS grew to $2.06 from $1.95 on a $32M gain from the sale of 51% of Just Fruit in a Bottle and a return to profitability in Europe.

VOLCANO CORP.(VOLC) : VOLC posts $0.10 Q2 EPS vs. $0.11 loss on 36% revenue rise. Street was looking for breakeven. Sees $0.05-$0.10 '10 EPS on revenue of $286M-$290M (up from $277M-$282M).

QUEST SOFTWARE, INC.(QSFT) : QSFT posts $0.32 vs. $0.29 Q2 non-GAAP EPS on 13% revenue rise. Street was looking for $0.28. S&P upgrades to buy from hold.See

VOLCOM, INC.(VLCM) : VLCM posts breakeven Q2 vs. $0.04 EPS as higher operating expenses offset 15% revenue rise. Street was looking for EPS of $0.05. Sees Q3 total consolidated revenues of about $102M-$105M, EPS of $0.47-$0.51. Needham downgrades to hold from buy.See

FIRST SOLAR, INC.(FSLR) : FSLR posts $1.84 vs. $2.11 Q2 EPS as lower module average selling prices and higher operating expenses offset 12% sales rise. EPS were above Street view of $1.61. Sees '10 sales of $2.5B-$2.6B, reflecting reallocation of module capacity from its systems business to meet stronger module demand by its European customers. Raises EPS view to $7.00-$7.40, which includes $0.20-$0.23 reduction for forex adjustment. Street was looking for $7.12. S&P reiterates hold.See

PILGRIM'S PRIDE CORPORATION(PPC) : PPC posts $0.15 vs. $0.72 Q2 EPS on 3.9% sales drop.

ACME PACKET, INC.(APKT) : APKT posts $0.18 vs. $0.07 Q2 non-GAAP EPS on 62% revenue rise. Street was looking for EPS of $0.17. Raises $0.65-$0.70 '10 non-GAAP EPS view to $0.72-$0.74 on revenue of $214M-$218M (from $204M-$208M). Shares seen lower on reports that new revenue guidance is disappointing. S&P maintains hold.See

THORATEC CORP.(THOR) : THOR posts $0.34 vs. $0.19 Q2 non-GAAP EPS on 37% revenue rise. Street was looking for $0.32 EPS. Sees '10 revenue from cont. ops of $380M-$385M; guidance reflects expectations that THOR will experience some seasonal softness in Q3, which has been typical of the past few years. Sees $1.19-$1.23 non-GAAP EPS. Street view is $1.23; co. expects operating expenses to be higher in H2 '10.

MAXWELL TECHNOLOGIES, INC.(MXWL) : MXWL posts $0.02 Q2 non-GAAP EPS vs. $0.02 loss on 19% revenue rise, wider gross margin. Street was looking for $0.02 loss.

PORTFOLIO RECOVERY ASSOCIATES, INC.(PRAA) : PRAA posts $1.14 vs. $0.76 Q2 EPS on 31% revenue rise. Street was looking for $0.93. S&P maintains sell.See

DUN&BRADSTREET CORP. (THE)(DNB) : DNB posts $1.23 vs. $1.21 Q2 op. EPS (excluding non-core gains and charges) as lower expenses offset a 3% drop in core revenue before the effect of foreign exchange. On a GAAP basis, posts $1.10 vs. $1.43 EPS, largely due to a 1x gain tied to the disposal of the domestic portion of its Italian operations. For 2010, sees 1%-3% core rev. growth (before forex), 1%-6% EPS growth (excl. non-core gains and charges). S&P keeps hold.See

AMERIGROUP CORP.(AGP) : AGP posts $1.31 vs. $0.94 (incl. gain) Q2 EPS on 11% revenue rise. Street was at $0.62.

HARMONIC INC.(HLIT) : HLIT posts $0.09 vs. $0.03 Q2 non-GAAP EPS on 18% revenue rise. Street was looking for EPS of $0.07. Sees Q3 revenue of $95M-$98M, non-GAAP gross margins and operating expenses in the range of 48%-50% and $36M-$37M, respectively.

COINSTAR, INC.(CSTR) : CSTR posts $0.39 vs. $0.35 Q2 EPS from cont. ops on 35% revenue rise. Street was looking for EPS of $0.33. Q2 DVD revenue growth slowed. Sees '10 EPS from cont. ops of $1.88-$2.00 on lower-than-expected revenue of $1.425B-$1.505B.

NUTRISYSTEM, INC.(NTRI) : NTRI posts $0.40 vs. $0.28 Q2 EPS on 8% revenue rise. Street was looking for EPS of $0.35. Says uncertainty in the macro environment and the seasonality of the business lead co. to be cautious regarding the outlook for the balance of the year. Raises lower end of its full year EPS guidance to $1.07, while maintaining upper end of guidance at $1.12.