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Nokia's Sales Disappoint the Street

Nokia(NOK) says it sold more than 128 million mobile phones in 2000, up 64% from 1999. However, the company says sales were below expectations. AG Edwards says the market is overreacting.

Morgan Stanley DW upgraded AT&T Corp (T) shares to strong buy.

Thomas Weisel reportedly initiated coverage on Brocade Communication Systems (BRCD) shares with a buy rating.

Lehman upgraded Forest Labs (FRX) shares to buy from outperform.

Due to weaker than expected holiday sales, Barnes & Noble (BKS) expects Q4 EPS in its bookseller segment to be $1.30 vs. $1.46 consensus and video game segment expected to earn $0.06 vs. $0.33 consensus.

MiniMed Inc (MNMD) sees $0.17 Q4 EPS on $91 to $92 million in revenue. The company says the FDA plans to subject the company's PMA application for consumer continuous glucose monitoring system to panel review.

Cost Plus (CPWM) sees lower than expected $0.87 4Q EPS on 2% higher 4Q same store sales. The company expects its growth rate to soften in fiscal 2002 and sees same store sales growing 4%.

Hall Kinion (HAKI) says it is comfortable with previously stated $0.27-$0.29 Q4 EPS estimate on $77-$79 million in revenues

ABN Amro reportedly downgraded Yahoo Inc. (YHOO) shares to hold from add.

Airgas Inc. (ARG) sees $0.50-$0.52 Q3 after tax cash flow, which is $0.03-$0.05 below previous estimates. The company also sees $0.10-$0.12 EPS. S&P and CIBC World cut estimates. (ticker symbol="AMZN" channel="pi"/>) expects Q4 sales growth of more than 40%, operating loss of less than 7% of net sales. Results at lower end of range. Robertson Stephens downgrades to market perform from LT attractive.

Alliance Pharmaceutical (ALLP) voluntarily suspends enrollment in Phase 3 cardiac surgery study with Oxygent due to imbalance in certain adverse events, primarily incidence of stroke.

i2 Technologies (ITWO) says Q4 revenues and EPS to beat estimates. The company sees Q4 revenues of more than $370 million, $1.1B-plus 2000.

SeeBeyond Technology (SBYN) forecast $0.06-$0.08 Q4 loss on better than expected $40 to $42 million Q4 revenue. Sees $200-$210 million 2001 revenue. The company accelerates breakeven target to Q1 2001.

Centra Software (CTRA) sees $0.14-$0.15 Q4 loss (pro forma) on $7.6-$7.8 million in revenues, consistent with analysts' estimates.

Spectrum Control (SPEC) posts $0.25 vs. $0.13 Q4 EPS on 26% sales rise. The company expects quarterly sales for fiscal half fiscal 2001 to be $34-$36 million and EPS of $0.20-$0.22, due to customer order pushouts by certain major telecom equipment makers.

Cyberonics Inc (CYBX) sees Q2 sales up 28%. The company says epilepsy business unit expects to report profitability for Q2 and depression business unit achieves all objectives.

Senior management at IBP, Inc. (IBP) is expected to indicate today that it remains comfortable with consensus 2000 EPS estimates of $1.49-1.51.

M.D.C. Holdings (MDC) sees Q4 EPS above $1.62-$1.71 estimates. The company notes Q4, full year home orders, closings, year-end backlog highest in its history.

Infosys Technologies ADS (INFY) posts $0.26 (including a $3 million provision towards investment in EC Cubed) vs. $0.12 Q3 earnings per ADS on sharp revenue rise.

Atrix Laboratories (ATRX) entered a North American marketing agreement deal with Sanofi-Synthelabo for Leuprogel 1-, 3-, 4-month products for treatment of advanced prostate cancer in a $60 million deal.

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