Nokia's Sales Disappoint the Street
Nokia(NOK ) says it sold more than 128 million mobile phones in 2000, up 64% from 1999. However, the company says sales were below expectations. AG Edwards says the market is overreacting.
Morgan Stanley DW upgraded AT&T Corp (T ) shares to strong buy.
Thomas Weisel reportedly initiated coverage on Brocade Communication Systems (BRCD ) shares with a buy rating.
Lehman upgraded Forest Labs (FRX ) shares to buy from outperform.
Due to weaker than expected holiday sales, Barnes & Noble (BKS ) expects Q4 EPS in its bookseller segment to be $1.30 vs. $1.46 consensus and video game segment expected to earn $0.06 vs. $0.33 consensus.
MiniMed Inc (MNMD ) sees $0.17 Q4 EPS on $91 to $92 million in revenue. The company says the FDA plans to subject the company's PMA application for consumer continuous glucose monitoring system to panel review.
Cost Plus (CPWM ) sees lower than expected $0.87 4Q EPS on 2% higher 4Q same store sales. The company expects its growth rate to soften in fiscal 2002 and sees same store sales growing 4%.
Hall Kinion (HAKI ) says it is comfortable with previously stated $0.27-$0.29 Q4 EPS estimate on $77-$79 million in revenues
ABN Amro reportedly downgraded Yahoo Inc. (YHOO ) shares to hold from add.
Airgas Inc. (ARG ) sees $0.50-$0.52 Q3 after tax cash flow, which is $0.03-$0.05 below previous estimates. The company also sees $0.10-$0.12 EPS. S&P and CIBC World cut estimates.
Amazon.com (ticker symbol="AMZN" channel="pi"/>) expects Q4 sales growth of more than 40%, operating loss of less than 7% of net sales. Results at lower end of range. Robertson Stephens downgrades to market perform from LT attractive.
Alliance Pharmaceutical (ALLP ) voluntarily suspends enrollment in Phase 3 cardiac surgery study with Oxygent due to imbalance in certain adverse events, primarily incidence of stroke.
i2 Technologies (ITWO ) says Q4 revenues and EPS to beat estimates. The company sees Q4 revenues of more than $370 million, $1.1B-plus 2000.
SeeBeyond Technology (SBYN ) forecast $0.06-$0.08 Q4 loss on better than expected $40 to $42 million Q4 revenue. Sees $200-$210 million 2001 revenue. The company accelerates breakeven target to Q1 2001.
Centra Software (CTRA ) sees $0.14-$0.15 Q4 loss (pro forma) on $7.6-$7.8 million in revenues, consistent with analysts' estimates.
Spectrum Control (SPEC ) posts $0.25 vs. $0.13 Q4 EPS on 26% sales rise. The company expects quarterly sales for fiscal half fiscal 2001 to be $34-$36 million and EPS of $0.20-$0.22, due to customer order pushouts by certain major telecom equipment makers.
Cyberonics Inc (CYBX ) sees Q2 sales up 28%. The company says epilepsy business unit expects to report profitability for Q2 and depression business unit achieves all objectives.
Senior management at IBP, Inc. (IBP ) is expected to indicate today that it remains comfortable with consensus 2000 EPS estimates of $1.49-1.51.
M.D.C. Holdings (MDC ) sees Q4 EPS above $1.62-$1.71 estimates. The company notes Q4, full year home orders, closings, year-end backlog highest in its history.
Infosys Technologies ADS (INFY ) posts $0.26 (including a $3 million provision towards investment in EC Cubed) vs. $0.12 Q3 earnings per ADS on sharp revenue rise.
Atrix Laboratories (ATRX ) entered a North American marketing agreement deal with Sanofi-Synthelabo for Leuprogel 1-, 3-, 4-month products for treatment of advanced prostate cancer in a $60 million deal.