Xilinx's (XLNX) CEO made an upbeat presentation at a Banc of America conference. Pacific Crest reiterates buy.
S&P says Veritas Software (VRTS) reiterated third quarter guidance at a brokerage conference Tuesday night, and reiterates its hold rating.
Moody's placed Canadian communications company Shaw Communications' (SJR) Baa3 and Ba1 ratings, as well as the B3 ratings of one of its units, under review for a possible downgrade.
Consumer-loan company DVI (SJR) sees a fourth-quarter after-tax loss of $6.5 million to $7.5 million, including $5.6 million in charges. Earlier, USB Piper downgraded to market perform from outperform.
Fleetwood Enterprises (FLE) announced it has sold over 15,033 housing units year-to-date; Fleetwood is now the 2002 leader in the manufactured homes industry, in market share terms, with 17%.
Cendant (CD) shares fell after it lowered its third quarter EPS (adjusted) forecast from $0.42 to $0.28. The company notes mortgage loan prepayments and refinancings have increased to record levels. S&P reiterates buy.
Wachovia reiterates its strong buy rating on Genentech (DNA). On Tuesday, an FDA advisory panel recommended accelerated approval of AstraZeneca 's (AZN
lung-cancer drug Iressa, which is similar to a treatment being developed by Genentech and OSI Pharmaceuticals. The FDA will decide if the drugs get accelerated approval. Morgan Stanley upgraded Genentech to overweight. S&P keeps hold.
UTStarcom (UTSI) shares rose after it signed ontracts with China Telecom valued at about $22 million for new, expanded deployments of its PAS and IP-based PAS equipment in Southern China. Pacific Growth reiterates overweight.
Urban Outfitters (URBN) gained ground after Wedbush Morgan reiterates buy following recent price weakness, keeps on focus list.
General Electric (GE), ahead of a Sept. 26 analyst meeting, said results are "on track" for third quarter.
RF Micro (RFMD) raised second quarter guidance to $0.03 EPS on about $118 million revenues from $0.01-$0.02 EPS on about $109 million revenues. RF Micro sees a sequential revenue rise for the December quarter. CIBC World and CS First Boston raised estimates.
Tyco (TYC) reportedly cuts fourth quarter EPS guidance to $0.30-$0.33.
Salomon upgraded Sealed Air (SEE) to in-line from underperform. On Tuesday the company said its asbestos claims trial was postponed.
Salomon downgraded El Paso Energy Partners (EPN) to in-line from outperform.
Union Bank (UBSC) agreed to be acquired by Key Corp. for $22.63 per share cash.
International Multifoods (IMC) posts $0.22 vs. $0.09 second-quarter EPS from continuing operations on a 74% sales rise, and reaffirmed $1.55-$1.65 fiscal 2003 EPS from continuing operations guidance.
Micron Technology (MU) posted a $0.97 fourth-quarter loss, vs. a $0.96 loss (including charges), despite a 56% revenue rise. The company notes average selling prices for its semiconductor products decreased about 30% sequentially. S&P reiterates avoid.
Duke Energy (DUK) plans to offer 52 million shares at $19.24, under an existing shelf registration, which would amount to about $1 billion in gross proceeds.
Eastman Chemical (EMN) says operational disruptions at two Voridian Division manufacturing facilities will negatively impact third quarter results.
Bisys (BSG) sees lower than expected $0.20 first-quarter EPS before restructuring charges, and set a $100 million stock buyback. Separately, the company announced the acquisition of First Northern Financial Resources. S&P keeps hold.
International Paper (IP) expects third-quarter EPS to be about in line with the First Call consensus estimates of $0.32.
Scholastic (SCHL) posted a $1.14 first-quarter loss vs. a $1.05 loss (including charges) on flat revenue, and reaffirmed the $2.65-$2.95 fiscal 2003 EPS target.