Flextronics upgraded by BOA Analyst Actions: Flextronics Adding 1% on Upgrade - Early Volume Thin but Top Bid Higher at 13 75 words 9 August 2005 03:05 pm MidnightTrader English (c) 2005 Midnight Trader, All Rights Reserved Boston, Aug 09, 2005 (MidnightTrader via COMTEX) -- FLEX is up about 1% in its first thin-volume pre-market match after the stock was reportedly upgraded by Bank of America to Buy. The firm also set a price target of $17 per share. Price: 12.93, Change: +0.16, Percent Change: +1.2 http://www.midnighttrader.com Document MDNTDR0020050809e1890008g RESEARCH ALERT-BofA ups Flextronics to "buy" from "neutral" 37 words 9 August 2005 06:32 am Reuters News English (c) 2005 Reuters Limited BANGALORE, Aug 9 (Reuters) - FLEXTRONICS INTERNATIONAL LTD. Current Prior Rating Buy Neutral Price Target $17 $15 TECH-FLEXTRONICS-RESEARCH1|LANGEN|Table|ABN|E|U|RBN Document LBA0000020050809e1890013u
Contract between FLEX and NT To FLEX, the Nortel contract will ramp up significantly this year. Revenues from that telecom equipment manufacturer should be roughly $300 million in the June quarter, and $500 million in the September period. The agreement will likely be solidly accretive to share earnings in fiscal 2005. Acquisition costs during calendar 2005 will run about $700 million. As the contract expands to include printed circuit boards (PCBs) and enclosures, annual revenues ought to be between $2 billion and $2.1 billion. http://www.forbes.com/markets/2005/...-earnings-0809markets11.html?partner=yahootix Goldman Sachs said potential catalysts for the stock include continued benefit from the outsourcing agreement with Flextronics International (nasdaq: FLEX - news - people ), greater expectations from the Street as the company attempts to emerge from accounting issues, as well as continued cost-cutting.
looks like 1 cent miss. 8:20am 08/10/05 [LAZ] LAZARD Q2 ASSET MANAGEMENT FEES ROSE 12% TO $105.7M 8:18am 08/10/05 [LAZ] LAZARD Q2 OPERATING REVENUE ROSE 17% 8:18am 08/10/05 [LAZ] LAZARD Q2 M&A REVENUE ROSE 35% TO $182M 8:16am 08/10/05 [LAZ] LAZARD Q2 TOTAL REVENUE $336.4M VS $286.4M 8:17am 08/10/05 [LAZ] LAZARD Q2 FIRST CALL ESTIMATE 33C 8:12am 08/10/05 [LAZ] LAZARD Q2 PRO FORMA EARNINGS 32C VS 25C
Lazard earnings rise 30% Lazard (LAZ: news, chart, profile) reported second-quarter pro forma earnings of $32 million, or 32 cents a share, up from a year-ago equivalent profit of $24.7 million, or 25 cents a share. The average estimate of analysts polled by Thomson First Call was for earnings of 33 cents a share in the June period. Revenue rose to $336.4 million in the latest three months from $286.4 million in the same period a year ago. Merger-and-acquisition revenue increased 35% to $182 million. The stock closed Tuesday at $23.60, up 2.2%
UPDATE 2-Lazard second-quarter profit rises 30 pct 322 words 10 August 2005 07:01 am Reuters News English (c) 2005 Reuters Limited (Recasts, adds details) NEW YORK, Aug 10 (Reuters) - Lazard Ltd. , an investment bank specializing in mergers-and-acquisitions advising and asset management, on Wednesday said second-quarter earnings rose nearly 30 percent as deal activity increased. Mergers-and-acquisition revenues jumped 35 percent to $182 million in the quarter. Investment banks are broadly seeing a surge in merger revenue, as rising stock markets and improving economic conditions spur companies to grow through acquisitions. Lazard, a 157-year old banking partnership that went public in May, reported proforma net income increased to $32.02 million, or 32 cents a share, in the quarter ended June 30, from $24.74 million, or 25 cents, in the year-earlier period. On that basis, analysts, on average, expected Lazard to earn 33 cents a share, according to Reuters Estimates. Total revenue advanced to $336.4 million from $286.43 million a year ago. Operating revenue rose to $330.13 million from $282.06 million. Net income according to generally accepted accounting principles (GAAP) was $27.59 million, down from $79.36 million. Proforma figures for Lazard give a more accurate picture of the company's performance because the accounting rules used to calculate earnings on a GAAP basis for the second quarter, when the company was public, differ from rules used when it was a partnership. Lazard shares closed Tuesday at $23.60 on the New York Stock Exchange, down 5.6 percent from their initial offer price of $25. Its revenue growth from mergers was in line with other banks, such as Merrill Lynch & Co. , which said last month that second-quarter merger advisory fees rose 33 percent. According to industry research firm Dealogic, first-half global merger volume rose 39 percent compared with the same period last year. FINANCIAL-LAZARD-EARNS (UPDATE 2)|LANGEN|ABN|E|U|RBN|RNP|DNP|PCO Document LBA0000020050810e18a0019x
Accenture Wins $6.3 Million Contract 86 words 10 August 2005 US Fed News English © Copyright 2005. Hindustan Times. All rights reserved. By US Fed News PHILADELPHIA, Aug. 10 -- The Defense Logistics Agency has awarded a contract valued at up to $6.3 million to Accenture LLC, Reston, Va., for informational technology services. The contract was awarded by the agency's Defense Supply Center, Philadelphia. For more information about US Fed News contract awards please contact: Myron Struck, Managing Editor/US Bureau, US Fed News, Direct: 703/866-4708, Cell: 703/304-1897, Myron@targetednews.com. HTS ssbn 050810-32454 SSACHDEVA Document INDFED0020050810e18a00160
LAZ CC give strong guidance for the second half and 2006. M&A business growing and expanding businesses in China and Japan.Announce 2Q dividend.
LAZ miss a penny should not affect its strong revenue growth and aggressive Net Income increase. Compared to its 2004 business, LAZ grows significantly by their reduce compensation stratergy. A good buy when it goes dip and will pick up its lost ground soon. All their CC sounds good to me so far. People always pessimistic without kowning why. Overreaction should be corrected after investor digest the good CC.
Reuters good analysis and report on LAZ relate to compensation expense. Net Income should be higher if under non-GAAP compared to 2004 before public traded. The company's merger and acquisition revenues increased 35 percent to $182 million in the quarter. Rising stock markets and improving economic conditions are spurring companies to grow through acquisitions, boosting merger and acquisition revenues for most major investment banks. Total revenue advanced to $336.4 million from $286.43 million a year ago. Operating revenue rose to $330.13 million from $282.06 million. Net income according to generally accepted accounting principles (GAAP) was $27.59 million, down from $79.36 million. Adjusted figures for Lazard give a more accurate picture of the company's performance because the accounting rules used to calculate earnings on a GAAP basis for the second quarter, when the company was public, differ from rules used when it was a partnership. For example, under a partnership, compensation to partners is not an expense, but for a public company, compensation to managing directors is an expense. The difference helps explain why compensation and benefits expenses in the second quarter of 2005 rose more than $50 million to $161.15 million in the second quarter from the same quarter last year. Its revenue growth from mergers was in line with other banks, such as Merrill Lynch & Co. , which said last month that second-quarter merger advisory fees rose 33 percent. According to industry research firm Dealogic, first-half global merger volume rose 39 percent compared with the same period last year.