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ABN Amro Downgrades Juniper Networks

ABN Amro downgrades Juniper Networks (JNPR) to hold from add due to continuing flow of negative news from service providers and suppliers in the carrier market.

Merrill Lynch upgrades Informatica (INFA) to near term buy from neutral. The analyst maintained a long-term strong buy rating, saying weakness creates an attractive entry point. (AMZN) shares fell after the reports a person familiar with matter says Toys R Us has sought to renegotiate alliance with AMZN. The person says the alliance with TOY is key to AMZN's success.

Toys R Us (TOY) reported fourth quarter EPS from operations of $1.39, vs. $1.23 a year ago, on flat sales. The toy retailer says it is comfortable with current fiscal year 2003 consensus EPS estimates before the impact of new financing strategies. The company also files to offer $350 million of stock and convertible securities. S&P downgrades to avoid from accumulate.

CSG Systems (CSGS) shares fell after it says it was notified by AT&T Broadband that AT&T (T) is considering an initiation of arbitration against CSGS relating to their Master Subscriber Management System Agreement.

Cree (CREE) shares fell after CIBC World downgraded to buy from strong buy. Yesterday the company forecast $32-$34 million in third quarter revenue.

Banc of America upgrades Atmel (ATML) to buy from market perform.

Salomon SB downgrades Transocean Sedco (RIG) and Diamond Offshore Drilling (DO) to neutral from outperform.

Merrill Lynch downgrades Reebok International (RBK) to near term neutral from buy.

Salomon SB downgrades GTECH Holdings (GTK) to outperform from buy.

Lands' End (LE) reported fourth quarter EPS of $1.51, vs. $1.07 a year ago, on 11% revenue rise. The catalog retailer sees single-digit percentage increase in total fiscal year 2003 revenue, and high-single-digit to low-double-digit increase in EPS.

Anadigics Inc. (ANAD) expects first quarter wireless revenues of about $9 million, 13% higher than previously expected. The company says broadband revenue is also ahead of target, and is now expected to approximate $10 million. It sees a $0.38 first quarter loss per share, excluding special charges.

A U.S. District Court ruled in favor of Teva Pharmaceutical (TEVA), invalidating three GlaxoSmithKline (GSK) patents, otherwise due to expire in 2017, covering the antibiotic Augmentin. Glaxo believes its patents covering Augmentin are valid and expects to appeal these rulings.

Robertson Stephens upgrades RealNetworks (RNWK) to buy from market perform..

Itron Inc. (ITRI) sees $0.18-$0.22 first quarter EPS, excluding the impact of a recent acquisition, ahead of the $0.15 Wall Street consensus estimate. Itron sees better than expected $0.90-$0.97 2002 EPS, citing strength in all domestic market segments.

Verity Inc. (VRTY) posted better than expected $0.06 vs. $0.25 third quarter EPS on a 34% revenue decline. The company projects modest quarterly sequential revenue and EPS growth in the fourth quarter.

The U.S. attorney's office is conducting investigations into the marketing of Pfizer's (PFE) Neurontin following claims by a former Warner-Lambert employee that Neurontin was pushed for indications for which it was not approved.

Quiksilver Inc. (ZQK) posted better than expected $0.13 vs. $0.16 first quarter EPS as higher selling, general and administrative costs offset a 20% sales rise.

Wal-Mart (WMT) will purchase a stake in The Seiyu Ltd., a leading Japanese retail chain. Wal-Mart will pay about $46 million for 6.1% of Seiyu's stock, and will have the ability to inject up to $2 billion of new equity into Seiyu, raising its stake up to 66.7%.

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