Frontier Airlines Inc, (
FRNT: chart), airline, reported a Q3 net loss of 28 cents a share, narrower than a net loss of 31 cents a share in the year-earlier period. If not for certain items, the company''s loss was 25 cents a share, missing analyst mark of a loss of 19 cents a share.
Massey Energy Co, (
MEE: chart), coal company, reported a Q4 net loss of $2.76 a share, down from a net profit of 2 cents a share in the year-ago period. Q4 included an after-tax charge of $216.2 million related to the company''s recent debt repurchase and exchange offers. If not for special items, the company earned $3.1 million. Revenue advanced 15%, to $517.9 million from $452.3 million.
Emulex Corp, (
ELX: chart), HBA producer, reported Q2 net earnings of 19 cents a share, up vs. 16 cents a share in the same period last year. Aside from items, earnings came in at 28 cents a share vs. 21 cents last year, missing on that basis analyst estimate by a penny. Revenue advanced to $110.3 million from $91.7 million.
Certegy Inc., (
CEY: chart), payment processing company, reported a Q4 net income rise of 2.6% to 57 cents a share on 5% revenue growth, missing analyst view for earnings of 61 cents a share. The company announced that if not $2.9 million of mergers and acquisitions costs earnings were 61 cents a share. The company also stated it hopes to use its upcoming merger with Fidelity National Information Services to cross-sell its products to Fidelity customers globally.
CORPORATE NEWS
Mittal Steel (
MT: chart) announced that it made a bid for steel producer
Arcelor for more than $22 billion. The deal would value Arcelor at 28.21 euro per share, a 27% premium over the company''s closing price on the Paris exchange on Thursday. Mittal said it also agreed to resell Canadian steel maker
Dofasco, which Arcelor recently agreed to acquire, to German steelmaker ThyssenKrupp. ThyssenKrupp lost a bidding war for Dofasco earlier in the week, when Dofasco accepted a deal from Arcelor to be acquired for C$5.6 billion, or 3.95 billion euro.