4:20 pm : The major averages failed to hold on to what was looking like an impressive day of gains as ongoing concerns about moderating economic growth overshadowed a batch of better than expected earnings.
With so many worries about growth prospects in the face of higher interest rates and rising oil prices, Cisco Systems (CSCO 19.78 +2.49) following up a Q4 earnings surprise by saying FY07 sales will grow at a faster than anticipated 15-20% pace initially renewed optimism that IT spending might not slow by as much as many on Wall Street had feared. Further, the timing of
Buying the Healthiest Dairy Foods. Milk, yogurt and cheese are excellent sources of calcium, but regular varieties have too much saturated fat. Switch to low-fat or nonfat varieties (3 grams or less of total fat per serving).
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KATHY GRIFFIN DELAYED HER DIVORCE FOR SAKE OF SHOW
In a shocking public announcement, Kathy Griffin claimed that ex-hubby Matthew Moline robbed her of $72,000 — but she failed to mention that she held the marriage together for the sake of her TV show. During a recent interview with CNN's Larry King, the 44-year-old comedienne claimed that Moline, 35, stole cash from her during their five-year marriage. "My husband, without my knowledge, was sneaking into my wallet when I was asleep in the mornings and taking my ATM cards from my private... •SEACREST GRILLS KATE BOSWORTH •BREAKING NEWS! EXCLUSIVE: COCAINE SECRET BEHIND CHRISTIE BRINKLEY DIVORCE
Star Magazine
JADA'S SEEN SURI!
Jada Pinkett-Smith is hopping on the Suri sighting train. King of Queens star Leah Remini fessed up to seeing Tom and Katie's baby earlier this month and now Jada says she's seen the baby twice. "She's one of the sweetest babies I've ever met in my life," Pinkett Smith told People magazine. "She's an absolute beauty and she's Daddy's little girl." She went on to say that, "She's beautiful and they're very happy and they need to be left alone. She's the cutest little baby. She's got a head full... •KATHARINE MCPHEE: NO LONGER IDLE •LITTLE MISS SUNSHINE
British police thwart aircraft bomb plot In a file phtoo a jet takes off from London's Heathrow Airport Tuesday June 6, 2006. Authorities in London thwarted a terrorist plot to blow up an aircraft in mid-flight between Britain and the U.S. using explosives smuggled in hand luggage, police said Thursday Aug. 10, 2006. (AP Photo)
2:24 pm PT Comtech conference call details: (COGO) 11.98 : COGO on call says that engineering services hires eroded near-term profit, but says it was necessary for future growth. Co says it's taking 6 to 9 mos for newly hired engineers to be Huawei certified. COGO says newly hired engineers will start contributing revs in Q4. Co says its efforts will ultimately be rewarded in 2007, where it will see a, "huge revenue rampup". Without stock comp and additional investments made in engineering services (hires are up 150% to 500 from start of year, mainly due to engineering svcs employees); co said op margin would have been more than 12% vs. the roughly 10% it reported. Co says it sees $20 to $50 mln in additional revs from 3G infrastructure biz, on top of guidance, if China approves 3G late this yr or early next year. CEO says he made the decision to make the significant investments, says shareholders will see it was the right call. COGO on call says it expects its gross margins to continue to increase. Co sees strong growth opportunity in 2H. Stock trades to $10.80 after hours.
2:16 pm PT DR Horton raises dividend to $0.15 from $0.09, a 66 2/3% increase (DHI) 20.69 :
2:14 pm PT Cephalon scheduled to resume trading at 17:30 E.T (CEPH) 63.95 -1.30 :
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