Stocks Remain Mixed in Late Trading

Stocks Remain Mixed in Late Trading

Thursday, December 16, 5:30 PM EST (Thomson Financial): Stocks are mixed this evening, continuing the trend seen during the regular trading session. Technology shares are rebounding, while other stocks are weakening. Earnings from Adobe Systems and Nike are among the evening's highlights. Earlier, the Nasdaq Composite Index dipped 16.40 to 2146.15, while the Dow Jones Industrial Average added 14.19 to 10705.64. The S&P 500 Index shed 2.52 to 1203.20.

* The S&P 500 futures contract is edging up 0.10 points, while the Nasdaq
100 futures contract is falling 1.00 point.

* Leading off, Adobe Systems reported fiscal fourth-quarter earnings of
$0.45 a share on a GAAP basis, coming in above the year-ago level of
$0.34 a share, as sales climbed 20% to $429.5 million. Non-GAAP
earnings per share were $0.44, besting Wall Street forecasts by $0.02,
according to Thomson First Call. For the first quarter, Adobe estimates
first-quarter earnings per share of $0.45 to $0.48, above current
views.

* Meanwhile, video game publisher Take-Two Interactive Software posted a
dramatic rise in earnings for the fourth quarter on the back of strong
sales of its "Grand Theft Auto: San Andreas" title. Earnings were $1.36
a share, compared with last year's $0.58 a share, as revenue climbed to
$438 million from $277.6 million a year ago. Analysts were predicting
$1.55 a share for the period. Also, Take-Two forecast fiscal year sales
of $1.2 billion to $1.25 billion, with EPS coming in at $2.00 to $2.20.
The stock is lower.

* Also in tech earnings, Tektronix posted a second-quarter loss of $0.03
a share, reversing a year ago profit of $0.42 a share. Excluding items,
however, the company posted a profit of $0.39 a share, beating
forecasts by $0.07 due to solid order growth across its business. In
the third quarter, earnings are forecast at $0.26 to $0.30 on revenue
of $250 million to $260 million.

* PalmOne, meanwhile, recorded second-quarter earnings of $0.48 a share,
up from last year's loss of $0.11 a share, as revenue climbed 39% to
$376.2 million. Excluding items, earnings were $0.53 a share, meeting
Wall Street forecasts, according to Thomson First Call. PalmOne is down
this evening.

* Also, Nike posted second-quarter earnings per share of $0.97, as sales
rose 11% to $3.1 billion. Earnings easily beat the mean Wall Street
forecast of $0.86 a share for the period. Additionally, worldwide
future orders climbed 9.1% in the quarter.

* Quiksilver saw its profits rise $0.11 a share in the fiscal fourth
quarter to $0.41 a share, as revenue rose 30% to $350.3 million on
strong demand for its styles. Results were a penny above the average
Wall Street forecasts. Looking ahead, full-year earnings are expected
to be $1.58 to $1.62 a share.

* Industrial firm Danaher updated its outlook for 2004 and 2005 this
evening. The company said that its 2004 earnings will be at the high
end of the $2.23 to $2.28 a share range. Also, 2005 earnings are
expected to be $2.62 to $2.72 a share, while first-quarter earnings are
seen at $0.52 to $0.57 a share.

-- Justin.Menza@thomson.com; Thomson Financial Corporate Group



This is Thomson Financial Corporate Group's After-Hours Market Commentary. The information herein is believed to be true and accurate. We take no responsibility for inaccurate information and reserve the right to update our reports. If you have any questions please e-mail James Sang at james.sang@thomson.com or call 646.822.6233.For more information about Thomson Financial Corporate Group visit us on-line at http://www.thomson.com/financial. For more financial information at your fingertips, please visit http://www.irchannel.com/.

PRNewswire -- Dec. 16


Source: Thomson Financial Corporate Group

Web site: http://www.thomsonfinancial.com/
http://www.irchannel.com/


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