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UPDATE 13-Updates, advisories and surprises.

The America's Intelligence Wire

| May 24, 2004 | COPYRIGHT 2004 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From CBS Marketwatch (Stories))

Byline: Shannon Mitchell

Medtronic beats estimates for fourth quarter (4:13 PM ET) SAN FRANCISCO (CBS.MW) -- Medtronicreported fourth-quarter earnings of $568.9 million, or 47 cents a share, compared with $487.1 million, or 40 cents a share in the same period a year ago. Revenue for the period rose 24.1 percent to $2.67 billion, up 24.1 percent from the $2.15 billion in the quarter a year before. Excluding an acquisition-related charge of $17.2 million, earnings for the quarter came in at 48 cents a share, higher that the 46 cents a share average estimate of analysts polled by Thomson/First Call. Ahead of the news, shares closed down 31 cents at $47.35.

Novell meets Q2 earnings target (4:07 PM ET) SAN FRANCISCO (CBS.MW) -- Novellon Monday posted second-quarter earnings excluding one-time items such as costs related to preferred stock, restructuring and investment losses of $14 million, or 3 cents a share. A year earlier, the company lost $7 million, or 2 cents a share. The results met expectations of analysts polled by Thomson First Call. Revenue rose to $294 million, up from $276 million. Novell shares fell 3 cents to close at $9.97, ahead of the announcement.

Nextel CEO backs 2004 earnings guidance (2:40 PM ET) LOS ANGELES (CBS.MW) -- Nextelis "firmly on track" to meet its 2004 forecast that calls for earnings of at least $2 a share, president and CEO Tim Donahue said. On average, analysts surveyed by Thomson First Call expect the company to post 2004 earnings of $2.09 a share. Speaking at an investment conference in New York, the CEO said Nextel sees its "robust business trends continuing". Nextel shares slipped 28 cents, or 1.2 percent, to $22.39 in recent trade.

Thor reports strong Q3; stock rises 2 percent (11:53 AM ET) NEW YORK (CBS.MW) -- Shares of Thor Industriesrose 2 percent to $26.94 after the Jackson Center, Ohio RV builder reported third-quarter earnings of $32.8 million, or 57 cents per share, up 68 percent from $20.2 million, or 35 cents per share, a year ago. The average analyst estimate as polled by Thomson First Call was for third-quarter earnings of 48 cents per share. Thor said total sales for the third quarter rose 56 percent to $645.7 million. This quarter's results include earnings of $4.6 million on sales of $67.6 million from Damon, which was acquired in September 2003. Thor's quarterly dividend of 3 cents per share will be paid on July 2, 2004 to stockholders of record on June 15, 2004.

Nextel Partners expects to meet, or beat, 2004 outlook (9:39 AM ET) NEW YORK (CBS.MW) -- Nextel Partnerssaid it still expects to meet, or beat, its 2004 earnings outlook. In April, the company, which offers mobile phone services using the Nextel brand name, said it expects to add at least 340,000 new subscribers in 2004. Service revenues are expected to grow 25 percent to $1.2 billion, while earnings before interest, taxes, debt and amortization is expected to total $325 million. Shares were last trading up 2.8 percent at $15.30.

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