Noticias USA (28/01/2005)

[News]

Vulcan Materials (VMC) moved to the upside at the open of Friday's session and has climbed higher in the last few minutes. The stock is now up 0.52 at $55.79.

Vulcan Materials has risen above resistance and is now trading at a new high for the year.

[News]

MDU Resources Group, Inc. (MDU), a diversified natural resource company, reported higher fourth quarter earnings that missed analysts' expectations by a penny, on higher revenues.

The company reported fourth quarter net income of $53.1 million or $0.45 per share, compared to $46.2 million or $0.41 per share in the same quarter last year. On average, 7 analysts polled by First Call/Thomson Financial expected earnings of $0.46 per share for the fourth quarter.

Operating revenues climbed to $745.9 million from $620.1 million in the comparable quarter a year-ago. Revenues from construction materials and mining segment contributed $348.6 million to the total revenues.

For the full year, the company posted net income of $207.1 million or $1.76 per share, compared to $175.3 million or $1.55 per share in the same period last year. On average, 4 analysts expect full earnings of $1.79 per share.

Earnings at its Natural Gas and Oil Production segment were $110.8 million for 2004, higher than $63.0 million for the previous year. The earnings rise in the segment was due to 20% rise in average realized natural gas prices and realized oil prices that were 25% higher than 2003. Combined natural gas and oil production increased 7%.

Revenues for the period rose to $2.71 billion from $2.35 billion in the comparable period prior year.

For the first quarter, the company projects earnings growth to be between 10% and 15%. The company also reaffirmed its 2005 earnings guidance of $1.70 to $1.90 per share. On average, 7 analysts expect 2005 earnings of $1.91 per share.

Further, the company anticipates investing about $445 million in capital expenditures during 2005.

MDU is currently trading at $26.38, down 12 cents.

[News]

Goldman Sachs Group (GS) gapped open higher Friday morning and has since climbed steadily to the upside. The stock is now higher by 2.60 at $106.61.

Goldman Sachs Group has risen above a narrow range to set over a 5-week high. The stock is approaching the highs of the year, around $110.50.

[News]

1/28/2005 10:29:24 AM The indecisive trading of the opening 30 minutes has continued into the 10 o'clock hour. None of the major averages is now more than a couple of points off the unchanged mark. Dow +1.13, Nasdaq +1.68, S&P 500 +0.48. NYSE Adv/Dec 1246/1554, Nasdaq Adv/Dec 1099/1419.

The oil service sector, the leader of an energy sell off, has come off its lows over the past half hour, but still remains about 1.5% below the flat line. Halliburton (HAL) is a drag on the sector, falling more than 4% on disappointing fourth-quarter earnings.

On the upside, the broker/dealer space is a notable standout, ticking further higher in the last few minutes and now posting a modest advance. The REIT sector is rising moderately as well.

There is a split decision in technology. While the disk drive space remains 1.3% above the flat line, certain tech spaces, like the networking and computer hardware sectors, are posting modest losses.

Synagro Technologies (SYGR) is one of the biggest percentage gainers in the early going after it announced plans to initiate a dividend and refinance debt. The stock is currently up $1.40, or 49%.

Aceto (ACET), meanwhile, is a significant mover to the downside after it provided lowered earnings guidance for the second quarter. The stock is currently posting a decline of $2.20, or 19%.

[News]

Harris Corp. (HRS) has been moving to the upside for the better part of Friday morning and is now higher by 1.21 at $65.20.

Harris Corp. has been heading higher for the last 2 sessions and is now trading at a 7-week high.

[News]

Aspect Communications Corp. (ASPT) have been on the rise since the open of Friday's session and are now higher by 1.33 at $11.70. Volume has begun to accelerate in the last 20 minutes.

Aspect Communications Corp. has risen to over a 6-month high and has re-crossed both its 50 and 200-day moving averages. The company reported fourth quarter EPS of $0.19 after the bell on Thursday, which was flat with last year.

[News]

Church & Dwight Co. (CHD) gapped up slightly Friday morning and has since climbed gradually higher on above average volume. The stock is now up 1.09 at $33.69.

Church & Dwight Co. has risen above over a 5-week range and is now trading at a new 52-week high.

[News]

Lehman Brothers Holdings (LEH) moved slightly to the upside at the open of Friday's session, but has risen higher in the last 10 minutes on increased volume. The stock is now up 0.89 at $90.41.

Lehman Brothers Holdings is approaching the highs of the year, around $90.55.

[News]

CryptoLogic Inc. (CRYP) has been climbing to the upside since the open of Friday's session and is now higher by 1.78 at $24.70. Volume has begun to increase in the last 15 minutes.

CryptoLogic Inc. is challenging resistance at the highs of the year, trading at nearly a one-month high.

[News]

Orckit Communications Ltd. (ORCT) has been climbing to the upside for the last 15 minutes on increased volume and is now higher by 4.60 at $44.16.

Orckit Communications Ltd. is now trading at its second consecutive 52-week high. The company reported a fourth quarter EPS loss of $0.67 Thursday morning, compared to the loss of $1.26. Orckit expects to report first quarter EPS of $0.15.

[News]

 Praecis Pharmaceuticals, Inc. (PRCS), a pharmaceutical company engaged in research and clinical development programs, reported net loss for the fourth quarter that decreased from the net loss for the same period last year.

The Waltham, Massachusetts - based company reported net loss of $13.42 million or $0.26 per share for the quarter, compared to a net loss of $16.04 or $0.31 per share for the same period last year. On average, 2 analysts from First Call/ Thomson Financial estimated net loss at $0.27 per share for the quarter.

The company reported total revenues of approximately $780 thousand for the quarter, which was nil a year ago.

For the full year, the company reported net loss of approximately $57.60 million or $1.10 per share, compared to a net loss of approximately $55.80 million or $1.08 per diluted share, for the prior year.

Total revenues during the year were approximately $3.0 million including approximately $2.8 million in sales of Plenaxis®, the company's first commercial product to receive US FDA approval for use in treating patients with certain symptoms of prostrate cancer. The revenue was nil the previous year.

The company had cash, cash equivalents and marketable securities of approximately $83.34 million at December 31, 2004compared to approximately $143.20 million at December 31, 2003.

PRCS is currently trading at $1.59 gaining 2 cents on a volume of 70,757 shares.

[News]

Ryland Group Inc. (RYL) gapped open higher Friday morning, but has since moved in a range. The stock has risen higher in the last 10 minutes and is now up 0.70 at $62.68.

Ryland Group Inc. has been moving in a range for the last week and a half at the highs of the year and may encounter resistance around $63.00.

[News]

Career Education Corp. (CECO) moved slightly to the downside around 10:00 this morning and has spiked lower in the last few minutes on above average volume. The stock is now down 1.01 at $38.00.

Career Education Corp. has been heading lower for the last 2 weeks and is now trading at a 5-week low.

[News]

First Merchants Corp. (FRME), a financial holding company, released fourth quarter financial results, reporting earnings that increased from last year but missed Wall Street analysts' projections by two cents.

The Muncie, Indiana-based First Merchants reported net income for the quarter of $7.5 million, or $0.40 per share, compared to $5.8 million, or $0.31 per share, in the same period last year. On average, 3 analysts surveyed by First Call/Thomson Financial expected the company to earn $0.42 per share for the period. The company stated that December quarter net interest income, after the provision for loan losses, increased by 6.7 percent to $25.8 million from $24.25 million reported in the year-ago period. For the full year 2004, First Merchants posted net income of $29.4 million, or $1.58 per share, compared to $27.6 million, or $1.50 per share, in 2003.

Total net interest income for the year also rose 6.4 percent to $99.68 million from $93.66 million recorded in the last year. First Merchants is scheduled to host a conference call at 2:30 p.m. ET on January 28

FRME is currently trading at $25.98, down $0.18 or 0.69 percent, on a volume of 2K shares

[News]

Maguire Properties, Inc. (MPG), a real estate investment trust, entered into an agreement with an affiliate of CommonWealth Partners, LLC, underwhich Maguire Properties would purchase a significant number of assets from CommonWealth's Fifth Street Properties Portfolio. The purchase price would be about $1.51 billon, the company said.

Maguire Properties noted that CommonWealth's portfolio of office properties was owned through a partnership with Rockefeller Group International, Inc and the California Public Employees Retirement System.

Maguire Properties intends to initially fund the purchase price with assumed debt and financing provided by Credit Suisse First Boston. The acquisition is expected to close in the first quarter of 2005.

As per the agreement, Maguire Properties has agreed to acquire 10 office properties comprising nearly 5.0 million square feet and four development sites entitled for over 1.5 million square feet of office space. The portfolio is currently 86.4% leased, the company said.

Upon completion, the portfolio would allow Maguire Properties to substantially and rapidly grow its Southern California asset base by three million square feet in a single transaction.

Maguire Properties plans to engage CommonWealth in an interim contract for provision of management and leasing services for the Fifth Street Properties portfolio. MPG is currently trading at $23.97, up 3 cents.