Stocks in Focus-ABK,THQI,RTN,UAUA,LH,NOVL

Earnings

Ambac Financial Group (ABK) reported a second quarter loss of 20 cents per share compared to a loss of $8.24 per share in the year-ago period. The company reported revenues of $381.17 million compared to negative revenues of $476.88 million last year. The company also said it may have to seek insolvency protection, as it has insufficient capital to finance its debt service and operating expense requirements beyond the second quarter of 2011.

Meanwhile, MBIA (MBI) reported second quarter net income of $6.32 per share compared with $4.30 per share last year. Revenues totaled $2.08 billion, sharply higher than $992.10 million in the year-ago period.

THQ, Inc. (THQI) reported a loss of 21 cents per share on a non-GAAP basis for its first quarter compared to a profit of 10 cents per share last year. On a non-GAAP basis, the company’s revenues were $160.3 million, lower than $233.9 million last year. Analysts estimated a loss of 24 cents per share on revenues of $161.04 million. The company also said it continues to expect break-even results on a non-GAAP basis for the full year and revenues of $845 million to $865 million. Analysts expect a loss of 1 cent per share on revenues of $850.91 million.

Other Corporate News

Raytheon (RTN) may see some buying interest after it said the U.S. Air Force has selected the company’s GBU-53/B for the Small Diameter Bomb increment II program. The contract is valued at $450 million and delivery is expected to begin in 2013.

UAL Corp. (UAUA) is likely to see some activity after it announced that the load factor for its United Airlines unit rose 0.3 points year-over-year to 87.2%, as traffic and capacity increased 2.1% and 1.8%, respectively.

Laboratory Corp. of America (LH) is also expected to be in focus after it said its board authorized the buyback of up to an additional aggregate of $250 million shares of its common stock.



Novell (NOVL) could see weakness after it lowered its third quarter net revenue guidance to $197 million to $199 million from its previous guidance of $205 million to $210 million. The company also lowered its non-GAAP operating margin guidance to 13%-15% from its previous guidance of 15%. The muted outlook was attributed to customer uncertainty related to the company’s board’s ongoing review of various alternatives to enhance stockholder value.
source:investorsHub