Reports Q1 (Mar) earnings of $1.09 per share, $0.02 better than the Thomson Reuters consensus of $1.07; revenues rose 15.9% year/year to $422.1 mln vs the $420.2 mln consensus. PNRA reports Q1 operating margin of 12.6% vs 12.2% Street Expectations. Co issues upside guidance for Q2, sees EPS of $1.15-1.17 vs. $1.10 Thomson Reuters consensus. Co is targeting a 0 to 50 bps y/y improvement in operating margins. Co issues upside guidance for FY11, sees EPS of $4.47-4.51 vs. $4.46 Thomson Reuters consensus. The Company is narrowing its fiscal 2011 target for Company-owned comparable bakery-cafe sales growth to 5.0% to 6.0% from 4.0% to 6.0%. This target assumes transaction growth of 2.5% to 3.5% and average check growth of approximately 2.5%. The increased average check growth target is primarily a result of an incremental 1.0% price increase the Company intends to take to offset increased inflation in the latter part of 2011. The incremental price increase and increased inflation are expected to offset each other at the operating margin line and have no impact on the Company’s earnings per diluted share target.

“A drug like telaprevir does an amazing job clearing the virus, but there’s a small portion that is just intrinsically less responsive and it’s the job of the older drugs to clear up that mess that’s left behind,” said Dr. Cailla Graham, Vertex’s vice president for global medical affairs.

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The stock is down 33% on this article.

No. Ticker % Change
1 ECYT 31.89
2 REDF 24.13
3 IIVI 19.74
4 HSTM 19.11
5 VTRO 18.82
6 WTI 18.41
7 IGC 17.71
8 USAT 15.22
9 ONSM 14.75
10 KND 14.32
11 KUTV 14.00
12 UCTT 13.80
13 ARNA 12.60
14 SMOD 12.53
15 REFR 12.38
16 VRTX 12.09
17 PRGX 11.69
18 VICL 10.77
19 CRDN 10.60
20 CRS 10.56
21 IDN 10.42
22 MSPD 10.13
23 YRCW 10.05
24 DAL 10.00
25 GRA 9.96
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No. Ticker % Change
1 GFRE -32.73
2 WIBC -18.38
3 HEI -18.18
4 LXK -14.73
5 VDSI -14.64
6 TZOO -12.91
7 ROSG -12.50
8 RCII -11.59
9 UIS -11.33
10 MNI -11.27
11 LFT -11.20
12 ININ -10.79
13 IMN -10.09
14 BXDD -10.03
15 ACPW -9.75
16 CTC -9.36
17 PLXT -9.29
18 UA -9.01
19 SCEI -8.99
20 CABL -8.26
21 APP -8.23
22 LWSN -8.12
23 BBH -8.11
24 AMCF -8.09
25 GPI -7.84

Spreads are now up more than 4% to $25.31

Canaccord Genuity raises their NFLX tgt to $300 from $250. Netflix’s Q1/11 results exceeded forecasts, though Q2/11 guidance was mixed, with the company’s forecast revenue and subscriber growth offset by cost increases. Lack of subscriber growth in Canada was the only real surprise in the quarter, as churn and ARPU rose slightly following the price increase in January. Firm continue to believes that NFLX is in the sweet spot between declining physical competition and rising digital competition.

1.8 billion net in Swiss francs for q1

Asian markets are off to a bad start, with the NIKKEI off by more than 1%. Additionally, all major commodities are under selling pressure.

passive stake in CSTR

No. Ticker % Change
1 SUF 37.00
2 HRZ 16.20
3 CEDC 15.49
4 PLCM 12.43
5 SOHU 11.30
6 IGT 10.23
7 HNSN 8.22
8 TZOO 8.05
9 PLUG 7.96
10 ACAD 7.59
11 APP 7.26
12 OCZ 6.54
13 LOCM 6.35
14 AIB 6.07
15 ZAGG 5.79
16 DANG 5.50
17 USAT 5.45
18 TTMI 5.43
19 DRL 5.38
20 CHINA 5.25
21 SODA 5.24
22 BWEN 5.23
23 UAN 5.16
24 OTIV 5.04
25 YOKU 4.96
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1 XPRT -19.80
2 LUNA -8.26
3 MMG -7.69
4 TRGL -7.68
5 GPL -6.89
6 IL -6.65
7 PANL -6.55
8 DCTH -6.30
9 ASTI -5.81
10 CHTP -5.80
11 BKS -5.76
12 AG -5.62
13 YRCW -5.45
14 PARD -5.26
15 BVN -5.18
16 ABX -5.16
17 EXK -4.92
18 JAG -4.55
19 CDE -4.52
20 UXG -4.42
21 BSFT -4.33
22 OME -4.30
23 MMI -4.29
24 INCY -4.18
25 CCRT -4.17

For the quarter, net income attributable to Sohu.com was $44.81 million, higher than prior year’s $30.19 million. Earnings per share grew to $1.01 from $0.73 a year ago.

Adjusted net income, which excluded certain items, was $49.72 million, compared to $48.38 million last year, and earnings per share increased to $1.13 from $0.86 in the previous year.

On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.96 per share for the quarter. Analysts’ estimates typically exclude special items.

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I know the JP Morgan short theory might be a tall one. However, with silver up more than $4 to $49+, one has to wonder who got caught short, since the metal is clearly parabolic.

Go Obama go!

We have 1000+ companies reporting this week, here are some notable ones

“We just finished the assessment, and we are in the process of mobilizing the repairs,” Bughaigis told reporters in Benghazi, the de facto capital of the rebel-held east. “We believe we need a minimum of four weeks to get back on stream.”

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Late stage arthritis medicine seems to be killing people.

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Reports Q1 (Mar) earnings of $0.94 per share, $0.13 better than the Thomson Reuters consensus of $0.81; revenues rose 35.7% year/year to $154.4 mln vs the $150.3 mln consensus. Co issues in-line guidance for Q2, sees Q2 revs of ~$157 mln vs. $156.94 mln Thomson Reuters consensus.

Synaptics beats by $0.07, reports revs in-line; guides Q4 revs below consensus (27.94 +0.95)
Reports Q3 (Mar) earnings of $0.55 per share, $0.07 better than the Thomson Reuters consensus of $0.48; revenues rose 22.5% year/year to $142.4 mln vs the $141.4 mln consensus. Co issues downside guidance for Q4, sees Q4 revs of $138-146 mln vs. $146.54 mln Thomson Reuters consensus. “Our current outlook assumes some near-term revenue headwinds from consumer notebook market dynamics and, as previously indicated, the continuing mix shift within our delivery model for touchscreen solutions. However, with that mix shift we also expect our gross margin percentage to increase, providing additional operating leverage to our business model. Moving forward, we are very pleased with the level of interest we have seen in our expanded product portfolio. Design activity is robust across our customer base, and we are very well-positioned for continued success in our long-term growth markets.”

Advanced Micro sees Q2 revs of flat to slightly down vs -1.4% consensus

SanDisk beats by $0.03, beats on revs (48.99 +0.54)
Reports Q1 (Mar) earnings of $1.03 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $1.00; revenues rose 19.2% year/year to $1.29 bln vs the $1.26 bln consensus. Co reports Q1 non-GAAP gross margins of 43.1% vs 43.0% consensus. “Our embedded mobile business drove growth in the first quarter, and SanDisk executed well to deliver strong business results,” said Sanjay Mehrotra, President and CEO. “We have been actively managing our supply chain following the recent events in Japan and believe we remain on track to deliver a strong 2011 for SanDisk.”