Compaq Computer (CPQ) expects Q4 revenue to exceed $8B,
yielding a profitable quarter. He notes previous guidance was revenues of $7.6B-$7.8B, and a $0.03 loss. S&P maintains
Cor Therapeutics (CORR) confirms guidance of profit for Q4 and
Lucent Technologies (LU) named Patricia Russo, most
recently president and COO of Eastman Kodak (EK), as president
and CEO. S&P maintains hold.
JP Morgan reportedly downgraded Imclone Systems
(IMCL) to market
perform from buy.
Goldman added Bea Systems (BEAS) to recommended list, was rated market outperform.
Bear Stearns downgraded Charles Schwab (SCH) to attractive from buy.
RBC Dain Rauscher says positive
data points on Legato Systems (LGTO) are mounting, and upgraded to buy from neutral.
Benchmark Electronics (BHE) sees Q4 results exceeding $0.10 cash EPS, and $258M revenue. S&P keeps avoid.
WF Van Kasper reportedly downgraded Applied Films (AFCO) to market perform from strong buy.
RW Baird downgraded Black Box (BBOX) to market perform from market outperform.
Morton's Restaurants (MRG) will take a $1.6M Q4 pre-tax charge related to closing of its restaurant in Sydney, Australia.
Back Yard Burger (BYBI) entered into a development agreement with Tricon Global whereby Back Yard grants Tricon Global the right to use its trademark in US.
Merrill downgraded Convergys (CVG) to near term neutral from buy, and maintains long term buy.
Dycom Industries agreed to acquire Arguss Communications (ACX) for about $5.77 per share.
Sangstat Medical (SANG) sees $0.01-$0.03 4Q EPS, better than previous guidance range of $0.01 loss to $0.01 EPS, citing continued growth in therapeutic revenues and expense control.
Circuit City (CC) expects 4Q EPS for Circuit City
business, excluding EPS in Carmax Group, will be in
the $0.68-$0.71 range. Circuit City sees mid-single digit growth in January and February same store sales.
and Advanced Micro Devices will begin selling their
fastest-ever flagship processor.
CS First Boston upgrades Teva Pharmaceutical
(TEVA) to strong
buy from buy.
Goldman initiates coverage on Prudential Financial
(PRU) and to
recommended list. CS First Boston initiates coverage
Kerry Group will acquire Stearns & Lehman
(SLHN) co. for about
$26 million, subject to adjustments. It currently
estimated shareholders will receive not less than $7.36 per share.
entered into collaboration with Pfrier, to design,
synthesize, and purify high-quality, drug-like
compounds to expand
Pfizer's compound file
The president and COO of Cousins Prop () will step
will reopen four plants it idled, a signal that
demand may be growing in the
ailing telecom sector, according to press reports.
sees $50M-$52M 4Q revenue, $0.04-$0.06 core net
loss. Vignette notes that
unanticipated level of client spending
decisions will be delayed
agreed to be acquired by Tibco Software for $5.30
per share in cash and stock, for a total value of
$115M, including assumption of
A C L N Limited (ASW) says the SEC has begun an
investigation, focusing on
disclosures made by ASW in SEC
filings. A C L N also says
eight class action lawsuits
have been filed against it
Great Atlantic & Pacific (GAP) posted $0.08 Q3 EPS from operations
vs. a $0.38 loss on 3.1% same
store sales rise, and sees
$0.34 of continuing costs in
Q4 to to improve supply chain
and business processes.
Lexicon Genetics (LEXG) discover and validates in vivo a new
drug target, named LG527, to develop potential
treatments for depression.
Extreme Networks (EXTR) sees $108M-$110M 2Q revenue,
$0.01-$0.02 pro forma EPS.
Court rules in Actuate's () co.'s favor in suit
filed by rival
Crystal Decisions regarding
validity of assertions made
by Actuate in certain
Intermune (ITMN) received Fast Track Designation
from FDA for Actimmune injection for treatment of
idiopathic pulmonary fibrosis.
intends to offer senior notes due 2009 in private placement, and expects to raise $500M.