Check Point Soars on Analyst's Buy Rating
CS First Boston initiated coverage on Check Point Software (CHKP ) shares with a buy rating.
Telefonos de Mexico (TMX ) reached an agreement with its long distance competitors in Mexico whereby TMX will reduce cost to connect calls to its network to US$0.0125 per minute. Notes pact resolves various controversies.
Techne Corp. (TECH ) forecast lower than expected $0.15-$0.16 Q2 EPS due to forex, slower growth at Biotechnology unit. Dain Rauscher downgraded the stock to neutral from buy.
Tumbleweed Communications (TMWD ) sees $17-$18.1 million Q4 loss from operations on $7.5-$8 million in revenues. The company cites slower IT spending and plans to cut its workforce by about 20% and take a Q1 restructuring charge. CS First Boston downgraded the stock.
Smithfield Foods (SFD ) CORRECTION: Due to an S&P database error, we incorrectly reported last January's news staying the company saw Q3 EPS approximating 1998 levels.
Chromcraft (CRC ) CORRECTION: Due to an S&P database error, we incorrectly reported last January's news that co. forecast $0.15-$0.18 4Q EPS.
Central Garden (CENT ) CORRECTION: Due to an S&P database error, we incorrectly reported last January's news that the company saw $0.29-$0.39 Q1 loss.
E.Piphany (EPNY ) CORRECTION: due to an S&P database error, we incorrectly reported last January's news that the company filed for a 3 million share offering.
Labor Ready (LRW ) CORRECTION: due to an S&P database error, we earlier incorrectly reported that the company forecast lower than expected $0.05-$0.07 4Q EPS.
JDA Software (JDAS ) reported that it expects to post $0.07-$0.09 Q4 EPS from operations on about $43 million in revenue, including software license revenues of about $14 million.
UBS Warburg downgraded DigitalThink Inc. (DTHK ) shares to buy from strong buy.
RW Baird cut its estimates and target on ACT Manufacturing (ACTM ) shares.
Efficient Networks (EFNT ) sees $100 million to $102 million Q2 revenues. The company attributes the shortfall to two key customers not placing anticipated orders during the quarter. DB Alex Brown, Robertson Stephens downgraded the stock.
Morgan Stanley DW downgraded Texas Instruments (TXN ) shares to neutral from outperform and cut its estimates on forecasted lower 2001 growth in semi-conductors.
Salomon SB reiterated its neutral rating on shares of Eli Lilly (LLY ).
Robertson Stephens downgraded the shares of five broadband equipment firms to long term attractive: Tut Systems (TUTS ), Advanced Switching Commun (ASCX ), Copper Mountain (CMTN ), Elastic Networks (ELAS ), and Paradyne Networks (PDYN ).