Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Honeywell Gets Hammered

Advanced Micro (AMD) delayed the launch of its Hammer chip. Morgan Stanley and UBS Warburg cut estimates. S&P reiterates avoid.

Integrated Defense (IDE) agreed to acquire BAE Systems' Advanced Systems unit for $146M cash, and expects the acquisition to be accretive to 2003 EPS.

J D Edwards (JDEC) S&P ties weakness to information in a 10-Q that shows the company benefited from lower allowance for doubtful accounts.

Thomas Weisel downgraded Zoran (ZRAN) to market perform from attractive.

Honeywell (HON) sees $0.50-$0.52 Q3 EPS, and $2.00-$2.05 for 2002, citing continued weakness in the commercial aerospace aftermarket and the Automation & Control Solutions unit. Lehman downgraded to equal-weight from overweight; JP Morgan cut to market perform from buy. Deutsche Bank cut its estimates.

ESS Technology (ESST) sees lower than expected $0.13-$0.21 3Q EPS on revenue of $60M-$64M, citing slowing demand worldwide and increased competition. SoundView downgraded to neutral from outperform.

Adobe (ADBE) posted $0.19 vs. $0.16 Q3 EPS (GAAP) despite a 2.5% revenue decline, meeting reduced estimates. The software company posted $0.22 pro forma EPS, and sees $0.21-$0.25 Q4 EPS (pro forma) on $285M-$300M revenue.

AG Edwards upgraded Xcel Energy (XEL) to buy from hold, and set a $14 target.

Genesis Micro (GNSS) raised the Q2 revenue guidance to $45M-$46M. Pacific Growth upgraded to equal weight from underweight.

Goldman added Pepsi Bottling (PBG) and Coca-Cola Enterprises (CCE) to its recommended list; the stocks were previously rated market outperform.

Carreker (CANI) posted $0.12 vs. $0.03 Q2 EPS (pro forma) on an 8% revenue rise, and posted $0.17 Q2 net EPS. USB Piper cut the estimates and price target.

West Corp. (WSTC) sees about $0.20 Q3 EPS on revenues of $202M-$205M, citing higher than expected costs related to bad debt and reduced call volume.

Baxter (BAX) reportedly told the FDA that its Medisystems blood tubing used in some of its dialysis machines may be linked to five patient deaths.

Quiksilver (ZQK) posted $0.36 vs. $0.33 Q3 EPS on a 12% sales rise.

Lucent (LU) sees Q4 revenues declining about 20%-25% sequentially, and a $0.45 pro forma loss per share from continuing operations. Lucent targets $2.5B-$3.0B new quarterly EPS breakeven revenue. S&P downgraded to avoid from hold.

Sonoco (SON) cut its $0.40-$0.44 Q3 EPS guidance to $0.31-$0.35, and cut the $0.45-$0.49 Q4 guidance to $0.35-$0.39, excluding one-time charges. Sonoco cited a delay in the recovery of increased costs for old corrugated containers (OCC).

Allianz (AZ) will add $750M to its Fireman's Fund Insurance Co. unit's reserves for asbestos and environmental (A&E) exposure, bringing total A&E reserving to $1.51B.

France Telecom (FTE) says Michel Bon, chairman and CEO, has submitted his resignation to the French government.

Biogen (BGEN) says the FDA has committed to complete a review of its Amevive application within six months. The FDA determined the applications was a class 2 resubmission. UBS Warburg cut estimates.

Tyson Foods (TSN) inked a pact to sell its Specialty Brands, Inc. subsidiary to Fremont Partners. Terms were not disclosed.

blog comments powered by Disqus