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Univision Climbs

Univision Communications (UVN) posted 16 cents, vs. 8 cents, third-quarter earnings per share on a 19% consolidated revenue rise. Univision sees 52 cents to 54 cents 2003 earnings per share on 20% revenue growth.

J.P. Morgan added Bebe Stores (BEBE) to its Focus List, and has a $35 target.

Digital satellite-television provider Pegasus Communications (PGTV) says a Federal District Court in Los Angeles affirmed that the DirecTV-NRTC settlement has no effect on Pegasus' DirecTV distribution rights.

Prudential downgraded Portal Software (PRSF) to underweight from neutral. The company sees a worse-than-expected loss per share of 27 cents to 31 cents in the third quarter (pro forma) on $25 million to $26 million in revenue. The company cites timing and services execution issues. J.P. Morgan also downgraded to underweight.

Storage Technologies (STK) sees a 5% to 8% 2004 revenue rise, and net income of $160 million to $170 million. Baird and CS First Boston upgraded to outperform from neutral. S&P reiterates accumulate.

BEA Systems (BEAS) posted 7 cents, vs. 6 cents third-quarter earnings per share on a 7.7% total revenue rise. BEA reportedly sees $260 million to $270 million in fourth-quarter revenue. CE Unterburg downgraded. Baird reportedly downgraded. S&P reiterates hold.

Starbucks (SBUX) posted 17 cents, vs. 14 cents a year ago, fourth-quarter earnings per share on a 25% revenue rise. Starbucks sees 83 cents to 85 cents fiscal 2004 earnings per share on 3% to 7% higher same-store sales. S&P reiterates sell.

CS First Boston raised its price target, and kept an outperform rating on Dell (DELL). On Thursday, the computer maker posted 26 cents, vs. 21 cents a year ago, third-quarter earnings per share on a 16% revenue rise. Dell forecast 28 cents fourth-quarter earnings per share on $11.5 billion in revenue. The shares fell before Friday's opening bell.

UBS Warburg upgraded JDA Software (JDAS) to buy from neutral.

Terayon Communications (TERN) withdrew a previously announced public offering of 10.8 million shares.

Central European Distributors (CEDC) posted 34 cents, vs. 12 cents, third-quarter earnings per share on a 58% revenue rise. The company says it's currently working on various acquisitions totaling about $150 million in net sales, and is keeping the $1.48 to $1.51 2003 earnings per share forecast.

USB Piper upgraded Pinnacle Systems (PCLE) to outperform from market perform.

Kohl's (KSS) posted 35 cents, vs. 39 cents, third-quarter earnings per share on a 1.3% comp-store sales decline, and 12% higher total sales.

King Pharmaceuticals (KG) received a subpoena from the Office of Inspector General at the Dept. of Health and Human Services requesting production of documents related to matters being investigated by the SEC.

Allstate (ALL) says catastrophe losses related to the California wildfires are preliminarily estimated to be 27 cents to 30 cents per share after-tax. S&P reiterates buy.

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