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Boeing Rises after Topping Expectations

Boeing (BA) posted 32 cents, vs. 46 cents, third-quarter earnings per share (reported) on 4% lower revenue. The aircraft manufacturer's results topped analysts' average estimate of 25 cents earnings per share. Boeing raised the 2003 revenue guidance to $50 billion on strong defense sales; the earnings per share outlook was revised to a 2 cents to 12 cents loss (GAAP) to reflect the decision on the 757 jet program. S&P reiterates buy.

Gilead Sciences (GILD) posted 33 cents, vs. 10 cents, third-quarter earnings per share on a 50% total revenue rise. S&P says Viread sales of $115.4 million werer below forecast, and reiterates accumulate. First Albany cut its estimates and target.

E-commerce company (NTES) posted third-quarter operating profit on a sharp revenue rise. However, the company says revenues from short-messaging services and other e-commerce services were slower for the quarter.

Genesis Microchip (GNSS) posted a 12 cents second-quarter loss, vs. a 15 cents loss (GAAP), on a 4.1% total revenue rise. the chipmaker sees pro forma profitability in the third quarter.

Manhattan Associates (MANH) posted 16 cents, vs. 20 cents, third-quarter earnings per share (GAAP) despite a 17% total revenue rise. The technology and software company sees 19 cents to 25 cents fourth-quarter GAAP earnings per share. J.P. Morgan downgraded to underweight from neutral. Bear Stearns cut its estimates.

OmniVision Technologies (OVTI) expects second-quarter revenue will meet or exceed $65 million, and earnings per share will meet or exceed 30 cents. OmniVision cited strong demand from the digital-still-camera, video-game, and cell-phone markets.

Needham upgraded Sanmina-SCI (SANM) to buy from hold.

WR Hambrecht upgraded Trimble Navigation (TRMB) to buy from hold.

Software company Micromuse (MUSE) posted 2 cents fourth-quarter earnings per share, vs. a 24 cents loss (GAAP), on a 33% revenue rise. Micromuse sees $34 million to $35 million in first-quarter revenue, and 1 cent to 2 cents earnings per share (GAAP). Prudential downgraded to neutral from overweight.

Halliburton (HAL) posted 21 cents third-quarter earnings per share, vs. 22 cents, from continuing operations despite a 39% revenue rise. The oil services company sees at least 30 cents fourth-quarter earnings per share.

Monster Worldwide (MNST) posted 11 cents, vs. 16 cents, third-quarter earnings per share from continuing operations on a 2.9% total revenue decline.

Wild Oats Market (OATS) sees a 3 cents third-quarter loss (including items), on a slight same-store sales rise, and a 3.9% total sales rise.

BellSouth's (BLS) latest round of merger talks with AT&T (T) collapsed as BellSouth indicated it was unwilling to move forward with the deal due to price, according to The Wall Street Journal.

CORRECTION: Talk America (TALK) posted $1.74 (including a one-time gain), vs. 42 cents, third-quarter earnings per share on a 26% total revenue rise. Talk America raised the $30 million to $34 million 2003 net income guidance to $34 million to $36 million (excluding a deferred tax benefit.) The local- and long-distance carrier sees $34 million to $36 million in 2004 net income. Talk America revised the $373 to $386 million 2003 total revenue estimate to $377 million to $385 million. Earlier, the story included incorrect guidance estimates.

Cable TV billing provider CSG Systems (CSGS) posted a $1.04 third-quarter loss, vs. 11 cents earnings per share (GAAP), on a sharp revenue drop. CSG sees 14 cents to 16 cents fourth-quarter earnings per share on $125 million to $132 million in revenue, and 90 cents to $1.00 in 2004 earnings per share on $520 million to $535 million in revenue. S&P cut to avoid, while Citigroup upgraded to hold.

Sonus Pharmaceuticals (SNUS) says the FDA granted fast-review status to its Tocosol Paclitaxel for the treatment of metastatic or locally advanced, inoperable transitional cell carcinoma of the urothelium.

International Rectifier (IRF) posted 30 cents, vs. 21 cents, first-quarter pro forma earnings per share on a 10% revenue rise.

CORRECTION: Chipmaker Maxim Integrated Products (MXIM) reported first-quarter earnings per share of 25 cents, up 13.6% from the 22 cents a year ago and up 4.2% from the 24 cents reported for the fourth quarter of fiscal 2003. Net revenues were $310.2 million, up 5.1% from the previous quarter. Earlier, the story included incorrect earnings information.

Regional air carrier Skywest (SKYW) posted 36 cents, vs. 40 cents, third-quarter earnings per share despite a 14% revenue rise.

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