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A Swift Fall for Mercury Computer

Mercury Computer (MRCY) shares plummeted after the company posted $0.37 vs. $0.20 Q4 EPS on a 38% revenue rise and said it sees a 8%-12% Q1 revenue decline. SG Cowen downgraded to neutral, Prudential cut the revenue estimates and target price.

Macrovision Corp. (MVSN) shares dropped after the company posted $0.20 vs. $0.16 Q2 EPS (pro forma) on a 38% revenue rise and sees $0.20-$0.22 Q3 EPS on revenue of $25M-$28M. T. Weisel trims estimate, but maintains buy.

National Bancshares (NBT) agreed to be acquired by International Bancshares (IBOC) for $24.75 cash per share.

Hawk Corp. (HWK) posted a $0.17 Q2 loss vs. $0.22 EPS on a 12% revenue decline and expects Q3 to be in the range of breakeven to $0.05 EPS.

Memberworks (MBRS) posted a $0.38 Q2 loss vs. a $0.84 loss

on a 34% revenue rise.

Rehabcare (RHB) posted $0.43 vs. $0.35 Q2 EPS on a 27% revenue rise and says it is still more comfortable with estimates at or near the bottom of the 20%-25% long term EPS growth range. S&P keeps accumulate.

JP Morgan upgraded Read-Rite Corp. (RDRT) and Maxtor Corp. (MXO) to long-term buy from buy.

CS First Boston reinstated coverage of Echostar Communications (DISH)

with strong buy, and a $47 target.

Prepaid Legal (PPD) posted $0.22 vs. $0.14 (restated for

accounting change) Q2 EPS on a 28% revenue rise. S&P

upgraded to accumulate from hold.

World Wrestling Federation (WWF) reiterated 2002 guidance in line with guidance provided in a June 28 press release. Legg Mason downgraded to market perform from buy.

Rudolph Technology (RTEC) posted $0.25 vs. $0.24 (pro forma) 2Q EPS on 16% revenue rise, and sees $0.03-$0.04 Q3 EPS on 30%-35% sequential revenue decline. Prudential and CIBC World cut estimates.

Globespan Inc. (GSPN) posted $0.01 vs. $0.11 Q2 EPS (pro forma) on a 21% revenue decline. Frost Securities upgraded to strong buy from buy.

Rent-A-Center (RCII) posted $0.74 vs. $0.66 Q2 EPS on a 13% revenue rise and sees 0.68-$0.70 Q3 EPS, and $2.87-$2.91

2001 EPS due to higher advertising and utility costs.

Morgan Stanley cut estimates and the target.

CIBC World upgraded PeopleSoft (PSFT) to buy from

hold, but believes the upgrade cycle is still in the early stages.

Sykes Enterprise (SYKE) posted $0.07 vs. $0.11 Q2 EPS (pro forma) on a 3.7% revenue decline and sees $0.03-$0.05 Q3 EPS on revenues of $105M-$115M.

Alpharma (ALO) posted $0.28 vs. $0.27 Q2 EPS on a 3% revenue rise and sees $0.40 Q3 EPS, an d $1.45-$1.50 for 2001, citing a slow recovery in the poultry market. CIBC cut estimates.

Ameripath (PATH) posted $0.35 vs. $0.30 Q2 EPS on a 30% revenue rise and reiterated previous 2001 EPS guidance of $1.40-$1.41.

Nordson Corp. ( NDSN) sees $0.17-$0.20 Q3 EPS from operations on about $174M revenues, and $1.10-$1.15 fiscal 2001 EPS on about $740M revenues. Nordson announced a workforce reduction.

Triton Energy (OIL) posted $0.65 vs. $0.38 Q2 EPS on a 77% revenue rise.

Xtra Corp. (XTR) agreed to be acquired by Berkshire Hathaway in a deal valued at about $590M. Terms: $55 cash per Xtra share.

Verizon (VZ) posted $0.77 vs. $0.72 Q2 EPS from operations on a slight revenue rise. Verizon sees $3.07-$3.12 2001 EPS on 5%-6% revenue growth.

Freemarkets (FMKT) posted a $0.17 Q2 loss vs. $0.34 loss from operations on a sharp revenue rise and reaffirmed 5% sequential revenue growth for Q3 and Q4. Freemarkets sees a $0.11 Q3 loss, $0.05 Q4 loss, and breakeven Q1 2002. CS First Boston reiterates buy.

CSG Systems (CSGS ) posted $0.52 vs. $0.39 Q2 EPS on a 25% revenue rise. CS First Boston raised estimates and reiterates buy.

Affiliated Computer Services (ACS) posted $0.66 vs. $0.55 Q4 EPS on a 20% revenue rise. The company sees $0.76 Q1, $0.84 Q2, $0.92 Q3, $0.98 Q4 and $3.50 fiscal 2002 EPS.

Cobalt Corp. (CBZ) says Q2, and 2001 results will be below previous forecast due principally to losses in its Compcare HMO in Southeastern Wisconsin. Cobalt retained Bear Stearns to

consider alternatives regarding possible sale of company.

SCI Systems (SCI) posted $0.27 vs. $0.34 Q4 cash EPS on a 10% revenue decline and sees $0.23-$0.25 Q1 cash EPS. SCI will take

a $70M-$100M Q1 charge to reduce capacity. S&P maintains accumulate.

Entergy Corp. (ETR) posted $1.06 vs. $0.98 Q2 EPS from operations on a 17% revenue rise and reaffirmed current $3.00-$3.20 2001 EPS guidance, as well as $3.30-$3.50 for 2002

HealthSouth (HRC) posted $0.21 vs. $0.17 Q2 EPS from operations on a 6% revenue rise.

Coach Inc. (COH) posted $0.20 vs. $0.12 Q4 EPS on a 12% sales rise and operating margin improvement. Coach sees Q1 sales of $150M-$155M.

PSI Technologies (PSIT) posted a $0.08 Q2 loss vs. $0.17 EPS from operations on a 30% revenue decline. PSI still thinks Q3 revenue will be 10%-15% lower than Q2.

Expedia Inc. (EXPE) posted $0.25 Q4 EPS from operations vs. a $0.30 loss on a sharp revenue rise. Expedia sees Q1 income before non-cash items of $10M-$12M.

Caremark Rx (CMX) posted $0.16 vs. $0.09 Q2 EPS from continuing operations on a 27% revenue rise. Caremark expects to achieve upper end of $0.67-$0.69 2001 EPS guidance, and believes 2002 EPS will be in the $0.87-$0.89 range.

Genentech (DNA) and Xoma Ltd. (XOMA) reported initial positive results in second of two Phase II investigations of Xanelimin adults with moderate to severe plaque psoriasis.

Family Dollar (FDO) will be added to the S&P 500 after close of trading August 3, replacing Cabletron Systems.

Cabletron Systems(CS) will be added to the S&P MidCap 400 after the close of trading on August 3, replacing Family Dollar. Cabletron is spinning off its 89.6% interest in Riverstone Networks (RSTN). Cabletron will change its name to Enterasys Networks (ETS).

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