Motorola, Inc.'s (NYSE:MOT) Q4 sales are now expected to be between $11.6 to $11.8 billion, versus the guidance of $11.8 to $12.1 billion. Meanwhile, Q4 GAAP earnings per share are expected to be between $0.13 to $0.16, or $0.23-$0.26 ex-items. The consensus stands at $11.99 billion or $0.39 per share.
 
Tractor Supply Company (NDAQ:TSCO) said that its Q4 sales were weaker than expected primarily due to unseasonably warm weather in the northern regions of the country, which resulted in decreased demand for winter related merchandise and lower store traffic. The company now anticipates sales for the full fiscal year to be around $2,369 million. The company anticipates net income of $2.20 to $2.22 per diluted share. This compares to the company's previous full year expectations for sales of between $2,370 and $2,390 million and earnings per diluted share in the range of $2.29 to $2.30. The consensus stands at $2.38 billion and $2.27, respectively.
 
AZZ, Inc. (NYSE:AZZ) reported Q3 EPS of $0.88, eighteen cents better than estimates. Revenues were $65.4 million compared to $44.3 million for the same period last year.  Backlog at the end of the third quarter was $101.0 million versus $83.1 million in November 2005, an increase of 22%. Their earnings are estimated to be within the range of $3.15 and $3.25 per diluted share and revenues to be within the range of $250 million to $260 million. The FY07 EPS consensus remains at $2.84.
 
Spansion Inc. (NDAQ:SPSN) anticipates Q4 net sales in the range of $680 million to $690 million compared to the company's prior net sales guidance range of $710 million to $740 million. The consensus stands at $722.8 million. The change in revenue guidance is due in large part to a late December delay in customer demand for certain high-density custom Flash memory devices. As a result of the revenue shortfall, the company does not expect to reach its goal of breakeven on a net income basis in the fourth quarter of 2006.
 
Silicon Image, Inc. (NDAQ:SIMG) intends to provide guidance regarding revenue for fiscal year 2007, which the company expects will range between $340 million and $360 million (reflecting the sci-worx acquisition and the settlement with Genesis Microchip Inc.). The FY07 revenue consensus remains at $335.04 million.

Tvia, Inc. (NDAQ:TVIA) anticipates that revenues for Q3 will be much lower than expected, with numbers in the range of approximately $1.2 to $1.4 million. The consensus stands at $3.25 million.

Network Equipment Technologies, Inc. (NYSE:NWK) anticipates revenues for Q3 to be in the range of $21.6 to $22.1 million. The current revenue consensus is $20.7 million.  As a result of strong sales activity in the third fiscal quarter, the company expects 2007 fiscal year revenues to reflect 17% to 20% year-over-year growth. The company had previously guided for full fiscal year 2007 revenues to be more than 10% higher year over year
 
American Medical Systems Holdings, Inc. (NDAQ:AMMD) reported preliminary sales of $114.8 million for the fourth quarter of 2006, a 57% increase over sales of $73.1 million in the comparable quarter of 2005. The current Q4 revenue consensus is $108.1 million. Preliminary sales for the year 2006 were reported at $357.7 million, a 36% increase over sales of $262.6 million for the year 2005. The current FY consensus is $351 million. The expected revenue for 2007 has been adjusted from $490 to $515 million from its previously guided revenue range of $505 to $530 million. The company reaffirms previous guidance on 2007 reported earnings per share at $0.76 to $0.81. The current FY07 revenue consensus is $500.35 million with an EPS consensus is $0.75.

Northwest Airlines Corporation (OTC:NWACQ) shareholders suffered yet another setback today after the United States Trustee rejected Owl Creek's requests for an equity committee to represent common stock shareholders in bankruptcy court. This comes after Northwest shares have risen from around $0.55 in mid-2006 to a high of $4.88 on speculation of a possible buyout or deal that would result in common stock retaining their value.

The hedge fund first petitioned the U.S. Trustee back in November of 2006, arguing that such a committee could be justified because:

• the Debtors' cases are large and complex;
• the Northwest stock is widely held and actively traded;
• the interests of Northwest's shareholders are not otherwise adequately represented;
• the Debtors do not, under reasonable (non-strategic) valuations, appear to be "hopelessly" insolvent;
• Owl Creek's request is appropriately timed based on the status of the Debtors' cases; and
• the necessary costs do not significantly outweigh the concerns for adequate representation.

The U.S. Trustee responded to the requests in a letter today, saying:

"In considering your request, as noted above, the United States Trustee sought, and received, input from counsel to the Debtors and counsel to the Committee regarding the solvency of the Debtors and the propriety of the appointment of an equity committee in these cases. Courts in this district have held that the appointment of an equity committee should be the rare exception, and should not be appointed unless equity holders establish that (i) strict application of the absolute priority rule, and (ii) they are unable to represent their interest in the bankruptcy case without an official committee. Accordingly, after careful consideration and ana1ys of your request, the United States Trustee declines to appoint an equity committee at this time." (Read More)

Owl Creek acknowledged this in their Schedule 13D/A filing today, which noted:

"The Reporting Persons sent a letter on November 21, 2006 to the Acting United States Trustee ("UST") requesting the appointment of an official committee of
equity security holders to represent shareholder interests in the Issuer's bankruptcy case ("Northwest Equity Committee"). A copy of that letter was attached to the Reporting Persons original 13D. On December 8, 2006 the Reporting Persons sent a second letter to the UST further requesting appointment of the Northwest Equity Committee. A copy of that letter was attached to the Reporting Persons' Amended 13D. By letter dated December 21, 2006, the UST advised the Reporting Persons that she declined to appoint the Northwest Equity Committee. A copy of that letter is attached as Exhibit 4. The Reporting Persons have become a member of an unofficial Northwest Equity Committee with other entities that own shares of Common Stock for the purpose of requesting that the court overseeing the Issuer's bankruptcy case appoint a Northwest Equity Committee as an official committee in such case. The unofficial Northwest Equity Committee has retained legal and financial advisors to assist in such request and the Reporting Person expects that this request will be made in the near future. The Investment Manager intends to work to protect shareholders' economic interests and is interested in serving on an official Northwest Equity Committee, if recognized by the bankruptcy court." (Read More)

While this is certainly a setback for shareholders, the unofficial committee will likely continue to work to gain representation in court. If they are successful, it could mean significant gains for shareholders if they are able to orchestrate a way to debt-holders to be paid off with cash left over (per Owl Creek's plan). This makes Northwest Airlines a stock worth watching closely over the next few months.

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MetroPCS Communications, Inc. filed for an initial public offering again today after delaying its 2004 IPO due to accounting complications. MetroPCS is a wireless broadband provider for personal communication devices that offers unlimited usage at a flat-rate with no long-term contracts. Since their launch in 2002, the company has experienced great success as the fastest growing broadband PCS provider in terms of both subscriber base and revenue growth.

MetroPCS noted that it has licenses covering approximately 140 million people in 14 of the top 25 metropolitan areas in the United States. As of September 2006, the company had 2.6 million subscribers with a licensed population of 36 million in seven major metropolitan areas in the United States, representing a 7.2% market share in these areas. Assuming the same adoption rates in its other licensed areas, this puts its potential subscriber base at approximately 10.1 million. The company's two major core markets (San Francisco, Miami, Atlanta, and Sacramento) have also seen subscriber growth rates of 50% year over year. This illustrates even more potential if the company chooses to expand into other markets. And with lowering costs per user and a low 4.4% churn rate, the company is in a great position to capitalize on an under-served market.

While the company has not yet disclosed the number of shares that it plans to offer, the ticker symbol it plans to use, nor the exchange it plans to trade on, this is definitely a company to keep an eye on during the next few months as it moves closer to an IPO.