Ralph Lauren, Time Warner, Sprint, Computer Sciences Attracting Trader Attention Feb. 8th
Ralph Lauren Corp (NYSE:RL): The company said, “Due to the stronger-than-expected third quarter performance, the Company now expects consolidated revenues for Fiscal 2012 to increase by approximately 20%, which compares to a prior expectation of high-teens-to-low 20% growth. The Company has also raised its operating margin outlook for Fiscal 2012. The full year operating margin from continuing operations is now estimated to be approximately equivalent to or only slightly below the prior year period, which compares to a prior expectation of a 50 basis point decline. The full year Fiscal 2012 tax rate is currently estimated to be 34%.” Consensus for FY12 revenue is $6.8B. Shares of Ralph Lauren Corp are trading 11.48% higher today.
Time Warner Inc. (NYSE:TWX): Time Warner announced that its Board of Directors has approved an increase in the Company’s regular quarterly cash dividend of 11%. On an annual basis, Time Warner’s regular cash dividend on its Common Stock will grow from 94c per share to $1.04 per share. The Board of Directors declared a regular quarterly dividend of $0.26 per share of Common Stock, payable in cash on March 15, 2012 to stockholders of record at the close of business on February 29, 2012. Shares of Time Warner Inc. are trading 2.28% higher today.
Buffalo Wild Wings (NASDAQ:BWLD): Buffalo Wild Wings (NASDAQ:BWLD) is launching a second phase of a pilot program which gives customers access to Apple (NASDAQ:AAPL) iPads, after working out technical issues at one of its Toronto restaurants, reported Computerworld, citing the company’s director of international business. Shares of Buffalo Wild Wings are trading 13.71% higher today.
Sprint Nextel Corporation (NYSE:S): Wireless startup LightSquared asked the FCC to set tough standards for the design of GPS devices, according to The Hill. The company is developing a wireless broadband service and tests showed that the service could interfere with GPS devices, but LightSquared counters that the GPS devices are receiving signals from outside their designated frequency bands, the publication reported. Shares of Sprint Nextel Corporation are trading 5.71% lower today.
Computer Sciences Corporation (NYSE:CSC): Reports Q3 revenue $3.76B, consensus $3.98B. Revenue was $3.76B net of a $204M reduction relating to the U.K. National Health Service contract; excluding the NHS reduction, revenue was $3.97B. EPS from continuing operations was ($8.97) and included two significant non-cash charges: a material impairment of the company’s net investment in the NHS contract, a charge of $1.49B, reducing EPS from continuing operations by $9.93, and a further goodwill impairment review for the BSS-Health reporting unit that resulted in a net goodwill impairment charge of $60M, which reduced EPS from continuing operations by 39c. Shares of Computer Sciences Corporation are trading 24.36% higher today.
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