[Starlight]

Gilead Sciences beats by 2 cents (GILD) 68.23 -0.56: Reports Q2 (Jun) earnings of $0.46 per share, $0.02 better than the Reuters Research consensus of $0.44; revenues rose 118.4% year/year to $238.9 mln vs the $236.0 mln consensus. Sales of Viread were $167.0 mln (slightly above guidance of $165 mln), driven by higher prescription volume, a significant increase in U.S. wholesaler inventories, and a favorable European currency environment; co estimates that increased stocking by U.S. wholesalers accounted for $25-$30 mln of Viread sales in Q2.



Corixa beats consensus by $0.23. (CRXA) 7.46 +0.06: Reports Q2 (Jun) loss of $0.15 per share, $0.23 better than the Reuters Research consensus of ($0.38); revenues rose 44.0% year/year to $20.0 mln vs the $11.7 mln consensus.


Starbucks reports 9% increase in July comps (SBUX) 27.33 +0.46: -- Update --


ChipPAC misses by a penny, guides below consensus (CHPC) 6.06: Reports Q2 (Jun) loss of $0.03 per share, $0.01 worse than the Reuters Research consensus of ($0.02); revenues rose 10.0% year/year to $106.8 mln vs the $101.3 mln consensus. Company sees Q3 coming in at a loss of $0.05-0.08 vs consensus of a $0.01 profit.




Coinstar beats by a penny, guides Q3 in line with consensus (CSTR) 13.98 +0.23: Reports Q2 (Jun) earnings of $0.19 per share, $0.01 better than the Reuters Research consensus of $0.18; revenues rose 13.7% year/year to $43.1 mln vs the $42.8 mln consensus. Co also guides Q3, sees EPS of $0.23-0.27, vs R.R. consensus of $0.25, and revenues of $47-48 mln vs estimate of $47 mln.



Veritas DGC guides Q4 below consensus (VTS) 9.82 +0.20: Company warns for Q4 (Jul), now sees loss of below $0.20 vs Reuters Research consensus of $0.20 profit. Co attributes shortfall to slow multi-client sales caused by delays in several major contracts, loss from recently announced sale of (RC)2 software biz, and potential write-offs of deferred tax assets.



Amgen gets FDA approval for ENBREL (AMGN) 69.43 -0.30: Amgen and Wyeth Pharmaceuticals, a division of WYE, announce FDA approval for expanded indication for ENBREL(R) as treatment to improve physical function in patients with moderately to severely active rheumatoid arthritis.


XOMA Limited and Genentech announces FDA Advisory date (XOMA) 7.52 -0.07: Companies announce that the FDA Dermatologic and Ophthalmic Drugs Advisory Committee will review the companies' Biologics License Application (BLA) for Raptiva for the treatment of moderate-to-severe plaque psoriasis in adults on September 9.


Adobe Systems issues Q3 guidance in line with consensus (ADBE) 32.73 +0.65: Company guides Q3, sees GAAP EPS $0.22-0.25, vs Reuters Research consensus of $0.25 and First Call consensus of $0.25; sees revenues of $300-315 mln vs R.R. estimate of $312.3 mln and First Call rev estimate of $311 mln.



Allied Waste misses by $0.07 (AW) 12.12 +0.25: Reports Q2 (Jun) earnings of $0.13 per share which was calculated as follows: Net income from continuing operations was $0.00, which includes the ($0.13) per share dilutive impact for the write-off of deferred debt issue costs and the de-designated interest rate swap contracts... The resulting profit of $0.13 is $0.07 worse than the Reuters Research consensus of $0.20; revenues rose 1.5% year/year to $1.39 bln vs the $1.36 bln consensus.


Roxio reports mixed Q1 results, guides Q2 below consensus (ROXI) 7.76 -0.01: Reports Q1 (Jun) loss of $0.02 per share, $0.01 better than the Reuters Research consensus, but $0.01 worse than the First Call mean. Revenues fell 25.2% year/year to $24.2 mln vs the $23.3 mln consensus. For Q2, co sees a net loss of $0.56 on revs of $21.4 mln (consensus -$0.29, $22.98 mln); blames earlier launch date for Napster and softness in retail software sales.



Synaptics beats by $0.02, ex items. (SYNA) 13.34 -0.41: Reports Q4 (Jun) earnings of $0.11 per share, ex items, $0.02 better than the Reuters Research consensus of $0.09; revenues rose 9.3% year/year to $28.2 mln vs the $27.0 mln consensus.


Cima Labs reports in line, guides Q3 below consensus (CIMA) 28.63 +1.80: Reports Q2 (Jun) earnings of $0.25 per share, in line with the Reuters Research consensus of $0.25; revenues rose 79.4% year/year to $18.3 mln vs the $18.2 mln consensus. Co also guides Q3, sees EPS of $0.24-0.27, vs R.R. consensus of $0.28, and revenues of $19-20.5 mln vs estimate of $18.4 mln.



PacifiCare beats, guides for Y03 (PHS) 55.91 -3.01: Reports Q2 (Jun) earnings of $1.70 per share, excluding a $0.22 charge, $0.38 better than the Reuters Research consensus of $1.32; revenues fell 1.4% year/year to $2.73 bln vs the $2.74 bln consensus. Company sees Y03 EPS of $5.56-5.66, excluding $0.89 in charges, vs consensus of $5.50.


American Power reports in line (APCC) 17.21 +0.43: Reports Q2 (Jun) earnings of $0.17 per share, in line with the Reuters Research consensus of $0.17; revenues rose 7.6% year/year to $331.5 mln vs the $323.8 mln consensus.


Business Objects reports in-line Q2 results, guides Q3 below consensus (BOBJ) 24.34 +0.34: Reports Q2 (Jun) earnings of $0.18 per share, in line with the Reuters Research consensus of $0.18; revenues rose 16.0% year/year to $129.0 mln vs the $124.4 mln consensus; software license rev were $62.7 mln. Expects Q3 EPS of $0.14-$0.17 on $121-$124 mln in sales, vs consensus of $0.17 and $122.7 mln.


Walt Disney beats by $0.03, ex items (DIS) 21.95 +0.26: Reports Q3 (Jun) earnings of $0.19 per share, excludes multiple items, $0.03 better than the Reuters Research consensus of $0.16; revenues rose 6.6% year/year to $6.18 bln vs the $6.08 bln consensus.


After Hours Movers : After hours trading is dominated by names coming off earnings reports. Leading the action on the upside are CRXA +9.5%, DIS +3.4%, PHS +3.2% and CSTR +2.4%, each of which topped consensus EPS for the qtr. Earnings/guidance of several names is being received less favorably: SONO -25%, CHPC -7.5%, ROXI -7%, SYNA -6.3%, CIMA -4.5%, BOBJ -2.4%.