Advanced Micro Beats Estimates

Honeywell drops; AmeriTrade jumps; plus more of today's stocks in the news

Chip maker Advanced Micro Devices (AMD ) posted 12 cents earnings per share in the fourth quarter, on revenue of $1.2 billion. The results include an unexpected one-time gain of 3 cents a share. Analysts expected AMD to earn an average of 4 cents earnings per share.

Honeywell (HON ) terminated discussions with Federal-Mogul Corp. regarding the possible sale of Honeywell's automotive Bendix friction materials business. The parties are unable to agree on terms. Shares fell.

Online brokerage firm AmeriTrade (AMTD ) posted fourth-quarter earnings per share of 17 cents, vs. 5 cents one year earlier, on a 23% total revenue rise. AmeriTrade raised its fiscal 2004 earnings per share guidance to 49 cents to 79 cents. Shares advanced.

PacifiCare Health (PHS ) is among health-care providers seen benefitting from the government's announcement for a 10.6% increase in Medicare payments to private insurers. Shares rose.

Cingular Wireless, jointly owned by SBC Communications (SBC ) and BellSouth (BSC ) has made a formal offer to acquire AT&T Wireless (AWE ) in an all-cash deal, according to a report in USA Today. AT&T Wireless shares rose.

Citigroup (C ) posted better-than-expected 91 cents, vs. 47 cents fourth-quarter earnings per share on a 13% revenue rise (net of interest expense). The financial-services firm notes that the fourth-quarter of 2002 included $1.3 billion in after-tax charges related to the establishment of reserves for regulatory settlements and related civil litigation.

Continental Airlines (CAL ) posted 67 cents fourth-quarter earnings per share, vs. a $1.67 loss on a 10% operating revenue rise.

SoundView upgraded Openwave Systems (OPWV ) to outperform from neutral.

United Technologies (UTX ) posted $1.16, vs. $1.06 fourth-quarter earnings per share on a 19% revenue rise, and maintains its $5.00-$5.30 2004 earnings per share guidance.

Harris Corp. (HRS ) raised its $1.50-$1.65 fiscal 2004 earnings per share guidance to $1.85-$1.95. Harris says both its Government Communications Systems and RF Communications segments continue to deliver stronger-than-expected performance. S&P upgraded to accumulate. AG Edwards and Needham will raise their estimates. Shares advanced.

CIBC World upgraded Check Point Software (CHKP ) to sector outperform from sector perform.

Circuit City (CC ) will sell its private-label credit card operation to Bank One (ONE ) for par value of receivables. The companies will enter a deal under which Bank One will offer private-label, co-branded credit cards to new and existing customers.

Moore Medical (MMD ) agreed to be acquired by McKesson (MCK ) in a $40 million deal. Terms: $12.00 cash for each Moore share.

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