CIBC World initiates coverage on Tweeter Home Entertainment (TWTR ) with buy and a $30 target.
Prime Group Real Estate(PGE ) received an offer from Cadim Inc. and Prime Group Inc. whereby the two companies would acquire Prime Real Estate for $14 cash per share.
Tucker Anthony reiterates strong buy on Crown Castle (CCI ), and notes lots of insider buying was announced on Thursdsay.
CIBC World raised estimates on Hotel Reservations (ROOM ) after talking with hotel suppliers, and maintains buy.
Professional Detailing (PDII ) expects a severe impact on Q3 and Q4 revenue profitability if generic Ceftin antibiotic tablet is launched.
Goldman reportedly added Williams Energy (WEG ) to its recommended list.
RW Baird downgraded Stewart & Steven (SSSS ) to market outperform from strong buy.
Zygo Corp. (ZIGO ) posted $0.26 Q4 EPS vs. a $1.17 loss on a 59% sales rise. Zygo sees a $0.10-$0.16 Q1 loss on revenue of $20M-$23M and says it can't provide useful guidance beyond Q1. ABN Amro cut estimates.
Cisco (CSCO ) set a restructuring, and will focus on 11 new technology groups. Citing signs that business is stabilizing, Cisco says orders for the first week of Q1 were in line with estimates. CS First Boston and CIBC World keep buy. S&P keeps hold.
ADC Telecommunications (ADCT ) posted a $0.05 Q3 loss vs. $0.16 EPS (pro forma) on a 39% sales decline. The company plans to cut jobs. ADC sees $400M-$450M Q4 revenue. S&P maintains hold.
Mattson Technology (MTSN ) says a workforce reduction will affect about 25% on a global basis and scheduled three additional weeks of plant shutdown for Q3 and Q4. The company sees 30% overall expense cuts for 2001 -- 10% more than estimated.
Goldman added Kohl's (KSS ) to recommended list, Kohl's was rated market outperform.
Sirius Satellite (SIRI ) and BMW of North America LLC announced that BMW will offer Sirius satellite radio service to new car buyers beginning in Q2 2002. Lehman reiterates strong buy.
UBS Warburg reportedly upgraded Office Depot (ODP ) to buy from hold. On Thursday the company reportedly forecast better than expected $0.01-$0.02 Q3 EPS.
MKS Instruments (MKSI ) will cut Q3 guidance to a $0.13-$0.18 loss on revenues of $50M-$55M. MKS will its workforce by 7%.
Electronics Boutique (ELBO ) posted a $0.07 Q2 loss vs. a $0.13 loss from operations on a 25% same store sales rise. The company sees $0.11-$0.14 Q3 EPS. S&P maintains buy. Banc of America raises the target.
William-Sonoma (WSM ) posted $0.02 vs. $0.09 Q2 EPS despite slightly higher same store sales. The company expects Q3 same store sales to be positive in the low to mid-single digits, with EPS in a range of $0.05-$0.07, and $1.17-$1.24 fiscal 2002 EPS.