Federated Department Stores (FD) shares were lower after the retailer said it sees $0.40-$0.50 Q2 EPS from operations, down from its earlier $0.70-$0.75 forecast. Federated cut its fiscal 2002 forecast to $3.60-$3.90 from $4.00-$4.25. S&P kept its hold rating on the shares. Goldman Sachs downgraded its rating from recommended list to market performer.
Callaway Golf (ELY) shares were higher after the company announced the death of its founder and chairman, Ely Callaway, following a bout with pancreatic cancer. B. Riley & Co. says the news rekindles the possibility of the company becoming a takeover target.
Marconi PLC (MONI) sees fiscal 2002 operating profit 50% below one year ago on a sales drop of about 15%. Separately, the company agreed to sell its medical systems business to Philips Electronics for $1.1 billion.
Dain Rauscher downgraded i2 Technologies (ITWO) to buy from strong buy. On July 3, the company forecast a $0.12 Q2 loss from operations (pro forma).
Knight Trading (NITE) sees lower than expected $0.07-$0.10 Q2 EPS from operations, citing a slowdown in trading and a decline in capital raising activities. The company will take a $0.06-$0.08 Q2 charge.
Apple Computer (AAPL) announced that it will suspend production of its G4 cube personal computer indefinitely. S&P reiterated its hold rating on the shares.
August Technology (AUGT) expects Q2 revenues to be about 7% below Q1 levels and 32% above one year ago. The company cites a downturn in microelectronic industries.
Compuware (CPWR) sees better than expected $0.11-$0.12 Q1 EPS on revenues of about $445M, which is below the $460M consensus estimate. The company sees software new license revenue of about $95M vs. the $100M consensus estimate.
ASML Holding (ASML) sees a EUR 95M-EUR 105M 6-months loss. The company notes customer comments about the Q2-Q3 outlook lead it to believe that a market recovery in Q4 is more unlikely.
Support.com (SPRT) sees lower than expected $6.2M-$6.6M Q2 revenue and a $0.22-$0.24 loss from operations (pro forma). The company cut its 2001 revenue forecast to $32.7M-$34.0M and sees a $0.65-$0.71 loss.
Dollar Tree (DLTR) posted better than expected 2.7% lower Q2 same-store sales and 15% higher total sales. The company now believes its gross margin could exceed 35.5%. USB Pier Jaffray raised its estimates and reiterated its strong buy rating.
P.F. Chang's (PFCB) posted 3.4% higher Q2 same store sales and 43% higher total sales. The company sees a 2% Q3 same-store sales rise and 26%-30% higher total sales.
Viamed (VIDA) sees $3M Q2 revenue vs. $2.3M last year.
St. Jude Medical (STJ) says a jury reached a verdict in a patent lawsuit filed against the company by Guidant Corp. (GDT); the jury ruled St. Jude infringed one patent, though not willfully, and awarded $140M damages to Guidant.