MicroStrategy (MSTR) says a District Court has approved a previously announced settlement of a consolidated class action suit filed against the company.
Extreme Networks (EXTR) posted a $0.07 Q3 loss vs. $0.08 EPS as higher operating costs offset a 67% revenue rise. Banc of America upgraded to buy from market perform. Needham downgraded to buy.
Morgan Stanley upgraded Oracle (ORCL) , SAP (SAP) and Agilent Technology (AGIL) to outperform from neutral.
Sanmina Corp. (SANM) posted $0.34 vs. $0.18 2Q EPS from operations on 26% higher revenues and sees $0.18-$0.22 Q3 EPS on revenues of $900M-$1.0B. CIBC World and CS First Boston cut estimates.
CS First Boston downgraded Tycom (TCM) to hold from buy.
Prudential upgraded Oak Technology (OAKT) to strong buy from hold.
E.Piphany (EPHY) posted a $0.37 Q1 loss vs. $0.11 loss from operations as higher costs offset a sharp revenue rise. Prudential downgraded to hold from strong buy.
Raytheon (RTN.B) posted $0.28 vs. $0.24 Q1 EPS from continuing operations as lower operating costs offset a slight revenue decline. Raytheon agreed to to divest a majority stake in Raytheon Aerospace Co., and will receive $153M cash at Thursday's closing.
General Semiconductor (GEN) rejected Vishay Intertechnology's (VSH) acquisition proposal.
Apple Computer (AAPL) posted $0.11 vs. $0.64 Q2 EPS from operations on 26% lower revenues. The company sees $3.2B-$3.4B second-half fiscal 2001 revenues. Apple expects sequential improvements in revenues and profits in Q3 and Q4. S&P upgraded the shares to hold. Lehman upgraded Apple to buy.
Akamai Technology (AKAM) posted a $0.54 Q1 loss vs. a $0.32 loss as higher costs offset a sharp revenue rise. Akamai expects EBITDA loss to decline throughout the rest of the year. S&P maintains accumulate.
OpenWave Systems (OPWV) posted $0.09 Q3 EPS (pro forma) vs. $0.56 loss on sharp revenue rise. CIBC World upgraded to strong buy from buy.
Newport Corp. (NEWP) posted $0.40 vs. $0.15 Q1 EPS from operations on a sharp revenue rise. Newport sees $1.30-$1.40 2001 EPS from operations.
Broadcom (BRCM) posted $0.09 vs. $0.18 Q1 EPS (pro forma) as higher costs offset 66% gross revenue rise. The company says it has not yet seen improvement in order visibility from customers.
Siebel Systems (SEBL) posted $0.15 vs. $0.07 (pro forma) Q1 EPS on an 84% revenue rise. Goldman adds to recommended list. S&P maintains hold. Morgan Stanley upgrades.
Advanced Fibre (AFCI) posted $0.08 vs. $0.33 Q1 EPS from operations on a 3.7% revenue decline. The company cites lower than expected shipments to Tellabs and some of its large ILEC customers. It projects no future business this year with Winstar and Tellabs.
i2 Technologies (ITWO) posted $0.02 vs. $0.04 Q1 EPS (pro forma) as narrowed gross margin, increased cost structure offset 91% revenue rise... Believes Q2 rev. will be sequentially down; sees pro forma losses over the next couple of quarters. J.P. Morgan downgrades, CS First Boston and Robertson Stephen cut estimates.
IBM Corp. (IBM) posted $0.98 vs. $0.83 Q1 EPS on a 9% revenue rise. S&P upgrades to buy.
Altera Corp. (ALTR) posted $0.16 vs. $0.18 Q1 EPS as higher costs offset 5% revenue rise. S&P maintains hold.
Advanced Micro Devices (AMD) posted $0.37 vs. $0.55 Q1 EPS on a 9% sales rise. The company says Q2 revenue could be down 10% from Q1, but confirms Street's 2001 $1.50 estimate. S&P upgrades to hold.
Cerner Corp. (CERN) posted $0.17 vs. $0.07 Q1 EPS on a 39% revenue rise. The company says it comfortable with analyst estimates of $0.18-$0.19 for Q2 EPS. Cerner raised 2001 EPS guidance to $0.83-$0.88, up from the previous range of $0.80-$0.85.
Xerox (XRX) posted a narrower than expected $0.12 Q1 loss vs. $0.30 EPS on an 8% revenue decline. Xerox sees a Q2 loss in line with Q1, but expects profitability for the second half and for all of 2001.
KLA-Tencor (KLAC) posted $0.48 vs. $0.38 Q3 EPS on a 28% revenue rise. S&P upgrades to buy. Robertson Stephens upgradeD to buy from long-term accumulate.
Ford Motor (F) posted better than expected $0.60 (before an acctg. change) vs. $0.90 Q1 EPS on slight revenue drop.
Sears (S) posted $0.53 vs. $0.65 Q1 EPS on flat sales... Sees high-single to low-double-digit percentage decline in Q2 EPS from operations.