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Micron Up on Rising Chip Prices

Universal Electronics (UEIC) sees $27-$28.5 million in sales and $0.25-$0.26 EPS (including projected tax benefit) in the fourth quarter. The company notes December orders were lighter than in prior years, and lighter than it had expected.

Sierra Wireless (SWIR) sees $8.3-$8.6 in fourth-quarter revenues, below its previous $14-$15 million guidance with bottom-line operating results correspondingly lower. The company cited delays in ramping up to higher unit volume shipments of new products.

Goldman removed Suncor Energy (SU) from its recommend list, and now rates the shares market outperform. UBS Warburg downgraded the shares to buy from strong buy.

Stephens reportedly downgraded ImClone Systems (IMCL) to outperform from buy. S&P keeps buy. Onb Dec. 31, the FDA denied the company's BLA for its colon cancer drug.

Level 3 Communications (LVLT) became a primary provider of broadband services for Sony Pictures Digital Entertainment's Screenblast. Kaufman Bros. reiterates strong buy.

USB Piper downgraded Genzyme Corp. (GENZ) to market perform from market outperform. The company was unavailable for comment.

Micron Technologies (MU) was among the chip stocks seen higher as Korea's Hynix said it recently raised contract chip prices by 30% on average. SoundView maintains buy on Micron, while BoA keeps market perform.

UBS Warburg downgraded BJ Services (BJS) to hold from buy. JP Morgan downgraded the shares to market perform from long term buy. The company could not cite any news.

CS First Boston downgraded Dianon Systems (DIAN) to hold from strong buy.

UBS Warburg downgraded Anadarko Petroleum (APC) and EOG Resources (EOG) to hold from buy.

Prudential upgraded Dollar General (DG) to hold from sell. The company obtained extensions to previously announced waivers from bank lenders under outstanding financing agreements.

Westcoast Hospitality (WEH) acquired Red Lion Hotels from Hilton Hotels for $50.6 million.

Prudential downgraded Kmart Corp. (KM) to sell from hold.

Needham upgraded GlobespanVirata Inc. (GSPN) to strong buy from buy.

Bear Stearns downgraded IMS Health (RX) to attractive from buy.

Goldman downgraded Priority Healthcare (PHCC) to market outperform from trading buy.

Robertson Stephens downgraded eBay Inc. (EBAY) to buy from strong buy.

Merrill reportedly upgraded AT&T Corp. (T) to near term buy.

Banc of America reportedly upgraded Ann Taylor (ANN), Limited Inc. (LTD), and Intimate Brands (IBI).

Metalink (MTLK) sees fourth-quarter revenues increasing about 40% from the third quarter, to $1.7 million, and expects its book-to-bill ratio to be well over one.

Mirant Corp. (MIR) terminates planned acquisition of 50% of EcoElectrica, a power project in Puerto Rico, from an Edison International (EIX) subsidiary.

A U.S. District Court approved a temporary restraining order requiring EchoStar Satellite Corp. to adhere to its affiliation agreement, continue carrying Walt Disney's (DIS) ABC Family Channel.

According to a press report, Microsoft (MSFT) has $36 billion in cash and securities, more than any other U.S. corporation. Some are urging the company to pay dividends. Separately, a ruling is expected on the company's request for a four-month delay of hearings on proposed antitrust remedies.

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