Xoma (XOMA ) and Genentech (DNA ) said a pharmaco-kinetic study conduted on Xanelim comparing Xoma-produced, and Genentech-produced material did not achieve pre-defined statistical definition for comparability.
Enterasys Networks (ETS ) sees $145M-$155M Q4 revenue, below estimates due to revenue recognition issues; and sees a Q4 loss from operations, and $110M-$120M Q1 2002 revenue. Salomon SB, and JP Morgan downgrade. S&P maintains hold.
Aspen Technology (AZPN ) sees a $5M-$7M Q3 net operating loss on $82M-$84M revenue. RW Baird downgraded to market outperform from strong buy. Bear Stearns reiterates unattractive.
Qwest Communications (Q ) says it has been informed by the SEC that it has approved a formal order of investigation of Qwest.
McData Corp. (MCDT ) sees a $0.04-$0.07 Q1 loss (pro forma) on revenue of $62M-$64M, citing further order reductions by its largest customer in March. First Albany downgraded to neutral from buy.
3M (MMM ) expects Q1 EPS, excluding items, to be at or slightly above $1.20 vs. previous guidance of $1.05-$1.20. The company will change its name to "3M Co.", effective April 8. Salomon SB upgraded to outperform.
Legato Systems (LGTO ) sees a $0.05-$0.07 Q1 loss on revenue of $55M-$57M, citing weakness in Europe and Asia. HC Wainwright downgraded. Robertson Stephens cut estimates. S&P upgraded to avoid from sell.
Goldman raised estimates on KLA-Tencor (KLAC ) ahead of its Q3 EPS report on April 18, and reiterates recommended list.
In response to comments by McData Corp, an EMC Corp. (EMC ) supplier, EMC says it cannot comment specifically on the results of suppliers, customers or partners, or any implications those results may or may not have for EMC.
Adelphia Communications (ADLAC ) hired Salomon SB, Bank of America, and CS First Boston as financial advisors; Adelphia will together explore opportunities to reduce its debt and strengthen its balance sheet.
Transgenomic (TBIO ) expects Q1 revenue to be about $9.8M, about 15% below previous guidance, citing lower instrument revenues, and lower than expected results from Asia markets. Starbucks (SBUX ) posted 7% higher March same store sales, and 25% higher total sales.
Edo Corp. (EDO ) won a contract to provide AN/SQS-53C sonar arrays to the U.S. Navy with an initial contract of $6.3M, for a total potential value of $58M.