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Wal-Mart's Stronger Net Buoys Retail Stocks

BEA Systems (BEAS) announced that Dell is installing BEA WebLogic Server as its standard Java platform for application development and deployment. S&P maintains hold.

UBS Warburg upgraded Sears (S) to buy from hold. On Monday Sears agreed to acquire Lands' End in a $1.9B deal.

Fossil (FOSL) posted $0.37 vs. $0.32 Q1 EPS on a 19% sales rise and sees $1.75-$1.80 2002 EPS. The watch retailer also set a 3-for-2 stock split.

Goldman reiterated its recommended list rating on Brocade Communications (BRCD). Shares were halted after the company inadvertently released its Q3 revenue guidance of $145M-$150M -- information that was supposed to be released on Wednesday, May 15.

Merrill makes positive comments on Dell Computer (DELL) and reiterates near-term and long-term strong buy.

BEI Medical (BMED) agreed to be acquired by Boston Scientific for $95M cash, or $6.84 per share. Separately, BEI posted a $0.24 Q2 loss a on sharp revenue rise.

Deere (DE) posted $0.59 vs. $0.54 second quarter EPS on 4.7% higher worldwide net sales and sees 3%-5% higher Q3 sales.

USB Piper says checks indicate strong April sales for (AMZN) and reiterated its outperform rating.

Qualstar (QBAK) posted $0.05 vs. $0.11 Q3 EPS on 23% lower revenue and sees Q4 revenue and earnings flat to up slightly from Q3 results. Wedbush Morgan downgraded to hold from buy.

CS First Boston expects a positive analyst day on May 16 for Retek (RETK) and reiterated its buy rating.

OSI Pharmaceutical (OSIP) and Genentech get fast track designation from the FDA for Tarceva.

Sylvan (SYLN) retained Lane, Berry & Co. International to assist with the evaluation of strategic plans and business alternatives designed to enhance shareholder value

Emisphere Technologies (EMIS) says initial results from a Phase III study with oral heparin for the prevention of deep vein thrombosis in total hip replacement surgery patients did not demonstrate superiority to Aventis's Lovenox.

Wal-Mart (WMT) posted $0.37 vs. $0.31 Q1 EPS on 8.1% higher same store sales, and 14% higher total sales.

Intel (INTC) shares were higher in pre-market trading after Robertson Stephens upgraded its rating on the stock to buy from market perform.

Thomas Weisel upgraded Extreme Networks (EXTR) to buy from attractive.

Pacific Sunwear (PSUN) posted $0.10 vs. $0.11 Q1 EPS from operations on flat same store sales. Wachovia and CIBC World reiterated strong buy on signs of a recent pick-up in sales trends.

CS First Boston reiterates buy on Tibco Software (TIBX) and says the stock is trading at a significant discount to peers.

Invision Technology (INVN) sees at least $0.25 Q2 EPS, and revenue to at least double Q1. The company received purchase orders for multiple explosives detection systems valued at about $17.5 million from two customers in France.

Tiffany's (TIF) posted $0.22 vs. $0.20 Q1 EPS on 3% higher sales and sees $0.22-$0.24 Q2 EPS; $0.18-$0.20 in Q3; and $0.64-$0.67 in Q4.

Flextronics (FLEX) is in a $1.5B 3-year outsourcing relationship with Casio in which Flextronics will manufacture a variety of Casio's electronic products.

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