4:20 pm : The market rebounded nicely in the wake of Monday's late day sell-off, as the absence of more strong economic data provided some relief on the interest-rate front and placed extra emphasis on another batch of better than expected earnings. As a result, the Dow closed at a fresh six-year high and eight of ten economic sectors posted gains.
Dow component Verizon Communications (VZ 32.64 -0.15) beat Wall Street's estimates by a penny and added a record 1.7 mln customers, which plays into our Overweight rating on Telecom. However, the stock consolidated late in the day
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The continued popularity of Elvis Presley has given rise to a class of entertainers who make a living through mimicry of "The King.","/reference/dictionary/entry/mimicry
NATALEE'S UNCLE SAYS 'RE-ARREST DEEPAK!'
Natalee Holloway's uncle is demanding that suspect Deepak Kalpoe be re-arrested in the 10-month-old mystery of the pretty blonde honor student who disappeared in Aruba. Deepak, his brother Satish and Joran van der Sloot were with the Alabama teen, pictured center, when she was last seen leaving a bar on the island in the early hours of May 30. Her uncle Paul Reynolds told The National Enquirer that he believes Deepak, 21, should be the chief suspect instead of van der Sloot, 18. Reynolds also... •STAR JONES CHEATS DEATH AS SHE UNDERGOES PLASTIC SURGERY •A WILD NIGHT OUT FOR JESSE & HIS PARTY PAL LINDSAY
Star Magazine
KATIE HOLMES: FEARING FOR HER TOMKITTEN
Katie Holmes was already worried about the upcoming birth of her baby. According to the tenets of 43-year-old fiancé Tom Cruise's religion, Scientology, she'll have to be silent (not even a moan!) during the delivery, lest the trauma be imprinted in her baby's brain. Plus, a source says, "Only Tom and a few Scientology supporters will be in the room — not Katie's mother!" And Scientology advocates separating the baby from its mother for at least the first 24 hours after birth. Now... •IT'S OVER! KRISTIN CHEATS ON NICK WITH HER EX! •ANGELINA PILOTING HER PLANE AT 7 1/2 MONTHS: IS SHE CRAZY?
Jet crashes off Russia, no survivors seen An Armenian airliner carrying 113 people crashed into the sea in heavy rain off Russia's southern coast on Wednesday, and rescue workers were retrieving bodies at the site, officials and local media said. (Graphic/Reuters)
3:34 pm PT Time Warner Tcom reports Q1 results (TWTC) 17.70 +0.52 : Reports Q1 (Mar) loss of $0.19 per share, which includes a $0.02 stock based compensation expense and may not be comparable to the Reuters Estimates consensus of ($0.16) (Briefing.com note: Co would still have missed by a penny even if it excludes the expense); revenues rose 8.6% year/year to $186.2 mln vs the $186.3 mln consensus.
3:01 pm PT Navarre co expects FY06 sales to be $685 mln vs $667.62 mln two analyst est (NAVR) 3.70 -0.16 : Co announces for fiscal year 2007 ending March 31, 2007 the co currently expects net sales to range between $720.0-$740.0 mln vs $741.26 consensus. Earnings before interest, taxes, depreciation and amortization (EBITDA) is expected to range between $36.0-$40.0 mln. For fiscal year 2006 ended March 31, 2006, the co estimates net sales to be approx $685.0 mln vs $667.62 mln consensus and EBITDA to range between $14.0-$15.0 mln. Net sales increased from prior guidance due to market share gains with several of our retail partners and favorable market conditions as well as a focused effort of selling slow-moving inventory. EBITDA is below prior guidance, with fourth quarter margins negatively affected by higher sales in lower margin categories. EBITDA was also negatively affected by the closing of an independent record label during the fourth quarter.
2:43 pm PT Fred's reports Apr same store sales +6.3%, AprQ revs slightly below consensus (FRED) 13.71 -0.12 : Co reports April comparable store sales�up 6.3% yr/yr vs prior guidance of +4-6%. Total sales for Q1 (Apr)�increased 9% to $417.2 mln vs consensus of $420.0 mln. Co says "With sales strengthening appreciably from February and March, we ended our quarter with a solid finish."
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