S&P MarketScope is hearing rumors of some displacement taking place as Fajima America, a major slurry competitor to Cabot Microelectronics (CCMP), won Intel's supplier recognition award. The company hosted its annual shareholders meeting on Tuesday. Wells Fargo says this is not the full story, adding that the selloff is overdone and reiterates its strong buy rating.
Rocky Mountain Chocolate (RMCF) sees fiscal 2002 EPS 30%-32% above fiscal 2001 (adjusted), and anounced it opened 25 new franchises during fiscal 2002, ahead of its original goal of 20 stores.
NDS Group PLC (NNDS) described a lawsuit filed against it by Vivendi's Canal Plus as outrageous and baseless. Earlier Tuesday, Canal Plus filed lawsuit against NDS, accusing it of conspiracy to encourage piracy.
AG Edwards upgraded AmeriCredit (ACF) to strong buy from hold.
CS First Boston assigned low probablility in the near term to speculation regarding a merger of Ciena (CIEN) and Cisco (CSCO).
AOL Time Warner (AOL
announced that it has surpassed 34 million users. Lehman calls the news "long overdue."
JP Morgan upgraded Black & Decker (BDK) to buy from long term buy.
TurkCell (TKC), a Turkish company, is seen lower on fears that the U.S. will attack Iraq.
UBS Warburg downgraded Immunomedics (IMMU) to hold from buy.
Rite Aid (RAD) posted 9.2% higher five-week same store sales ended March 2, and 8% higher Q4 same store sales.
99 Cents Only (NDN) set a 4-for-3 stock split.
WR Hambrecht resumes coverage of Adobe Systems (ADBE) with market underperform. The firm says Adobe's growth outlook does not support its valuation.
Goldman expects guidance from Microsoft (MSFT) for fiscal 2003 to be conservative, and probably below Street consensus estimated. Goldman rated the company with recommended list.
Cisco (CSCO) added further financial detail to its 10Q filing. S&P views the increased disclosure as favorable, and maintains hold.
SEC asked WorldCom (WCOM) to voluntarily produce documents and information related to various issues including accounting matters, and the integration of MCI's computer systems, and WorldCom's tracking of analysts' EPS estimates.
Lucent Technology (LU) sees a modest-to-10% Q2 sequential revenue gain vs. previous guidance for 10%-15% gain, and says ongoing uncertainty in service provider market will most likely cause its return to profitability to slip into fiscal 2003.
Nokia (NOK) sees Q1 EPS (pro forma) at the high end or slightly above EUR 0.15 to EUR 0.17 guidance, with net sales slightly worse than guidance of a 6%-10% year over year decline. The company notes larger than expected drop in network sales.
Maytag Corp. (MYG) expects Q1 sales to be up about 20%, EPS to significantly exceed initial expectations and the current analysts' estimate of $0.48.
Goldman expects guidance from Microsoft (MSFT) for fiscal 2003 to be conservative, probably below Street consensus estimates. The firm rates Microsoft on its recommended list.
DB Alex Brown reportedly downgraded Manpower (MAN) to market perform from strong buy.
Performance Food (PFGC) sees $1.41-$1.45 2002 EPS from operations, and says it identified accounting errors at one of its broadline operating units.
S&P maintains buy on IBM Corp. (IBM) after the company provided added financial detail to its 2001 annual report.
Dr. Reddy's Labs (RDY) agreed to acquire Meridian Healthcare LTD, a unit of BMS Laboratories Ltd, in deal valued at GBP 9.05M.
The Data Safety Monitoring Board decided to close Sangstat Medical 's (SANG) kidney transplant study early after interim analysis reveals significantly fewer acute rejections in patients treated with its Thymoglobulin vs. Simulect.
Pharmacia (PHA) will sell its minority 45% interest in Amersham Biosciences to Amersham for $1B.
Remec (REMC) posted $1.07 4Q loss vs. $0.03 EPS on a 23% revenue decline.