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Earthlink Posts a Narrower Loss

Earthlink (ELNK) posts a third quarter loss per share of $0.17, versus a $0.33 loss a year ago, on a 28% revenue rise. S&P maintains its hold rating on the Internet service provider, while Goldman downgrades to market outperform from trading buy.

Vitesse Seminconductor (VTSS) posts a fourth quarter loss per share of $0.14, versus earnings per share of $0.21 (pro forma) a year ago. Revenue tumbled 73% from a year ago to $37.2 million. Prudential reiterated its buy on the semiconductor company, while S&P and Robertson Stephens cut estimates.

Expedia Inc. (EXPE) posts $0.24 first quarter earnings per share, versus $0.04 loss from operations a year ago, on 89% revenue (net of cancellations) rise. The online travel company sees fiscal year 2002 revenues of about $310 million, which is lower than previously expected. Prudential raised its price target on the stock and reiterates buy. S&P maintains hold.

Everest Re Group (RE) posts $0.80 third quarter loss from operations, versus $1.03 earnings per share in the year ago period, despite a 14% revenue rise. The reinsurance company cites losses tied to the September 11 terrorist attacks. Morgan Stanley downgrades the stock to neutral from outperform.

American Express (AXP) posts third quarter earnings per share of $0.22, versus $0.54 a year ago. The financial services company's current quarter results include effects from restructuring and the September 11 attacks. S&P says that it would not add the stock to positions until the business climate improves.

Polo Ralph Lauren (RL) cuts second quarter earnings per share guidance to $0.50-$0.54 from $0.54-$0.58. The upscale retailer estimates $1.65-$1.75 fiscal year 2002 earnings per share on 2%-3% higher total sales. Lehman and Goldman cut estimates.

Liberty Media (LMC.A) was lowered by Goldman Sach to market outperform from recommended list along with USA Networks (USAI).

Cisco Systems (CSCO): Salomon Smith Barney raises estimates and price target and reiterates buy on the stock.

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