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Triton Energy's Big Find

Triton Energy (OIL) says recent drilling in Ceiba Field has extended the field size, and that the firm has encountered a new, deeper oil pool, which increases its estimated field reserves. Earlier, Merrill upgraded to near term buy from accumulate on price.

Lehman reiterated its buy rating and $18 target on Edison International (EIX).

Banc of America upgraded WebMD (HLTH) to buy from market perform and set a $10 price target.

Bank One (ONE) agreed to acquire Wachovia Corp.'s (WB) $8B portfolio of consumer credit card receivables. Bank One expects the deal to be immediately accretive.

First Union downgraded Manpower (MAN) to buy from strong buy.

British Telecom (BTY) and Vodafone Group (VOD) are among U.K. phone stocks trading higher on reports they'll try to boost profit this year rather than grab more new customers.

General Electric (GE) unit NBC will acquire the remaining stake of NBC Internet (NBCI) not currently held by the company for $2.19 per share.

Wilson's Leather (WLSN)agreed to acquire Bentley's Luggage Corp., a privately-held, specialty retailer of travel products, accessories. Terms not disclosed.

Salomon SB upgraded Darden Restaurants (DRI) to buy from neutral.

Morgan Stanley upgraded Motorola (MOT) to strong buy from outperform.

Foundry Network (FDRY) sees lower than expected $78M-$81M revenue; but still expects to be cash flow positive for Q1 and will post a profit.

CS First Boston and Goldman downgraded Radioshack (RSH). On Friday the company forecast $0.31-$0.33 Q1 EPS vs. a year ago's $0.34. (AMZN) sees a narrower than expected $0.22 Q1 loss (pro forma) on sales of over $695 million, 21% higher than the year-ago figure. S&P maintains hold. Salomon SB maintains outperform. Prudential reiterates sell.

Salomon SB cut estimates on Intel Corp. (INTC) Lehman Brothers cut estimates on Intel, Texas Instruments (TXN) and Cypress Semiconductor (CY).

Salton (SFP) sees $152M-$156M Q3 sales vs. $172.1M last year, and 19%-21% EBITDA margin. Salton noted a general slowdown in the retail sector and says it's in talks on a possible European acquisition.

CS First Boston cut estimates on Amkor Tech (AMKR) and cut the $27 price target to $20.

Compuware Corp. (CPWR) sees $505M-$515M Q4 revenues vs. consensus estimate of $548M, due to the foreign exchange impact and reorganization of its professional services business. The firm sees $0.15-$0.17 EPS. S&P maintains hold.

Cooper Tire (CTB) sees $0.01-$0.05 Q1 EPS (actual) vs. previous estimate of $0.21, citing additional volume declines in auto tire operations, higher than expected provisions for accounting adjustments, litigation and product liability costs.

Ferro Corp. (FOE) says Q1 EPS is likely to be around the low end of a consensus estimate of $0.37 on a 3% sales rise. Ferro cited a continued slowdown in U.S. markets and weakness in electronic materials markets.

Northwest Airlines (NWAC) signed a tentative deal with Aircraft Mechanics Fraternal Association, a union that represents 9,795 mechanics, cleaners and custodians.

Progenics Pharmaceuticals (PGNX) says its experimental drug, PRO 140, reduced viral burdens to undetectable levels in well-recognized animal model of HIV infection.

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