|
Stocks to watch Tuesday
|
 |
November 6, 2000: 5:47 p.m. ET
Pacific Sunwear earnings rise; VoiceStream, Equant losses widen
|
NEW YORK (CNNfn) - After the closing bell Monday, casual-apparel maker Pacific Sunwear said third-quarter profit rose slightly, telecommunications network Equant posted a wider-than-expected third-quarter loss, and discount retailer Dollar General reported quarterly profits nearly flat.
In addition, Cisco Systems posted quarterly earnings that came in slightly above expectations; wireless-telephone firm VoiceStream reported third-quarter loss widened, and fashion design house Polo Ralph Lauren named Gerald Chaney as its new senior vice president and chief financial officer.
Looking ahead to Tuesday, Wall Street will be watching closely the United States presidential and congressional elections, and as the CNNfn.com opinion poll shows, more investors believe a win by Bush is seen as potentially heralding the start of a more hands-off approach to markets than a Gore victory.
Pacific Sunwear of California
The casual-apparel maker reported third-quarter profits that were slightly above year-ago results.
The Anaheim, Calif.-based company reported net income of $12.5 million or 39 cents per diluted share, versus $12.3 million or 38 cents per diluted share for the same quarter a year ago.
Pacific Sunwear of California's third-quarter sales totaled $163.7 million versus $124 million for the same quarter a year before, and third-quarter same-store sales increased 3.3 percent.
The consensus estimate among analysts polled by First Call/Thomson Financial rose 2 cents per share to 37 cents.
Equant
The high-speed communications network services company posted a wider third-quarter loss Monday, including costs from a share plan, as strong customer demand for data services pushed revenue up 45 percent.
The third-quarter loss was $31 million or a loss of 15 cents per share, compared with a loss of $10.4 million or a loss of 5 cents a share a year ago.
Without share-plan costs and other nonrecurring and extraordinary items, the company would have reported a loss of 2 cents per share. Wall Street analysts had expected Equant to post a loss of 4 cents a share.
Equant (ENT: Research, Estimates) said revenue rose 45 percent to $404 million. Excluding the impact of currency exchange, especially as sales made in weaker European currencies were exchanged back into dollars, revenue rose 49 percent.
Dollar General
Regional discount retailer Dollar General (DG: Research, Estimates) said its third-quarter profits were nearly flat but matched forecasts, as results were hampered by out-of-stock merchandise.
Net income in the third quarter rose to $51 million or 15 cents per diluted share, from $50.9 million or 15 cents per diluted share a year ago.
Sales in the quarter rose 15.1 percent to $1.094 billion.
Looking forward, the company said it expects 2000 total revenue to rise 15 to 16 percent and same-store growth of 1 to 2 percent versus the same period in 1999.
 
-- compiled by staff writer Joseph Lee
|
|
|
|
|
 |
|
