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Marriott Posts Lower Profits

Marriott International (MAR) posted $0.39 vs. $0.43 Q3 EPS as a 10% drop in revenue per available room (REVPAR) offset a slight sales rise. Marriott sees $0.20-$0.30 Q4 EPS, and flat 2002 EPS vs. 2001.

Dell (DELL) reaffirmed $0.15-$0.16 Q3 EPS on $7.2B-$7.6B revenue guidance.

Outback Steakhouse (OSI) posted a slight decline in September same store sales for domestic Outback Steakhouses, increased of about 4.1% for Carrabba's Italian Grills, citing soft sales in the wake of the Sept. 11 attacks.

Corning (GLW) cut the Q3 guidance to $0.02-$0.06 EPS (pro forma), now sees a Q4 loss. Corning set an expanded restructuring program resulting in charges of up to $1B in 2001. Merrill cuts estimates and S&P puts estimates under review.

Netegrity (NETE) sees a $0.08-$0.10 Q3 loss on $16.5M-$17.5M revenue, below guidance.

Peregrine System (PRGN) sees $0.05 Q2 EPS (pro forma) on revenue of about $175M. W.R. Hambrecht downgraded to neutral from


Research In Motion (RIMM) posted $0.05 Q2 EPS vs. a $0.02 loss (pro forma) on 88% revenue rise. JP Morgan downgraded to long term buy. S&P initiates with hold.

Valassis Communications (VCI) expects the worsening advertising recession, media pull-back will cause it to fall short of previous second half goals, and now sees $0.50-$0.54 second-half EPS.

Radioshack (RSH) posted 3% lower September same store sales, and 6.3% lower sales.

Check Point (CHKP) sees $0.28-$0.29 Q3 EPS vs. Street consensus of $0.29 on lower than expected revenue of $117M-$118M. S&P maintains accumulate.

Manugistics (MANU) posted a $0.16 Q2 loss vs. $0.02 EPS (adjusted) despite 22% revenue rise. The company cited the lengthened sales cycles, and unanticipated order delays, and sees $60M-$65M Q3 revenue, and sees an operating loss similar to Q2.

Quest Software (QSFT) sees $0.01-$0.02 Q3 EPS (pro forma) on revenue of $55M-$56M. Quest increased its buyback authorization from 2M shares to 5M.

The FDA unanimously supports the use of Gilead Science's (GILD) investigational

antiviral agent Viread for treatment of HIV infection in adult patients who have received prior antiretroviral therapy.

Knight Trading (NITE) sees $0.02-$0.04 Q3 EPS from operations, below consensus estimates and will take a $0.03/share non-operating charge for write-downs on excess real estate capacity.

Barr Labs (BRL) sees $1.75-$1.80 Q1 EPS vs. the $1.42 First Call consensus. Barr cited stronger than expected sales of generic Prozac 20 mg capsule, Tamoxifen.

Tyco International, through its TGN Holdings unit, offered to acquire an outstanding 11% minority interest in Tycom (TCM). Terms: 0.2997 Tyco share for each Tycom share. Tyco currently holds 89% of Tycom shares.

Sara Lee Corp. (SLE) says the adoption of new accounting rules will increase fiscal 2002 net income by $109M, and boost the EPS by $0.13. Sara Lee sees $0.24-$0.27 Q1 fiscal 2002 EPS, and $1.35-$1.45 for fiscal 2002.

Xerox Corp. (XRX) announced that CFO Barry D. Romeril will retire at year-end.

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