Futures Point To A Higher Open

7/29/2005 7:53:21 AM With about a half hour to go before the release of the
advance second-quarter GDP report, the futures continue to sit slightly above
the flat line.

Along with reiterating its 11%-13% long-term EPS growth rate guidance, Wendy’s (WEN)
announced a number of initiatives aimed at improving the performance of its
flagship business and enhancing value for its shareholders. The company revealed
that this program included the planned initial public offering of 15%-18% of its
Tim Hortons unit. The company said it hopes to complete the offering by the end
of the first quarter of 2006.

Wendy’s, which said it will review its portfolio of U.S. Tim Hortons stores,
also revealed a program to improve its namesake business, including rebalancing
the U.S. store mix, slowing new store development and closing 40-60
underperforming restaurants. In addition, Wendy’s announced a 25% increase in
its annual dividend rate and authorized an additional $1 billion stock
repurchase.

Archer Daniels Midland (ADM) released results for the fourth quarter, posting
earnings for the period of $0.30 per share. In the same period last year, the
company lost $0.16 per share, including a charge of $0.39 per share for the
settlement of fructose litigation. Wall Street analysts had expected the company
to post a fourth-quarter profit of $0.28 per share. Net sales for the period
came in at $9.4 billion, the company said, down from last year’s $9.7 billion.

Lear (LEA) reported a second-quarter loss of $0.66 per share, including $0.98
per share in charges for restructuring, litigation and the impairment of an
equity investment that was subsequently divested. Wall Street analysts had
expected the company to earn $0.20 per share. Looking ahead, the company said it
expects its full-year bottom-line result to come in somewhere between a loss of
$0.25 and a profit of $0.15 per share, including the unfavorable impact of about
$1.75 per share in one-time items. Sales for the full year are expected to be
about $17 billion, the company said.