Applied Biosystems Slides at Close

Applied Biosystems (ABI ) sees some "modest" softening in Q3 and says growth rate over the next few quarters may be 1/2-2/3 that of its 20% long-term growth rate estimate. Robertson Stephens cut estimates; S&P ranked hold.

Micron Technology (M ) says Q2 net sales for semiconductor operations were $1.051B, and says its Micron Electronics unit rescheduled its Q2 financial release. Micron Tech now expects to release its Q2 results early in the week of 3/26, after the unit's results are released. S&P upgraded to hold. Needham reiterated buy.

Advanced Micro (AMD ) introduced its 1.33GHz and 1.3GHz Athlon processor, and says its 1.33GHz processor-based platforms with Double Data Rate memory outperform Intel's P4 platforms by up to 40% on some benchmarks. (GOTO ) expects to exceed its previously announced Q1 revenue and net loss guidance. Also, the provider of e-commerce services says it surpassed 40,000 active, paying advertisers in the month of February. Prudential upgrades to strong buy.

BB&T Capital cut estimates on Federal Express (FDX ). On Wednesday the package-shipping company posted $0.37 vs. $0.39 Q3 EPS.

Goldman cuts estimates on several lodging stocks, including Four Seasons (FS ).

Goldman cut 2001 EPS estimates on shares of Morgan Stanley DW (MWD ). On Wednesday the firm posted $0.94 vs. $1.34 Q1 EPS.

AG Edwards says it is reassessing the valuation of Amgen 's (AMGN ) entire biotech sector.

Titan Pharmaceutical (TTP ) posted a narrower than expected $0.15 Q4 loss vs. a $0.15 loss on sharply higher revenue.

Dillard's (DDS ) posted $0.69 vs. $0.26 Q4 EPS from operations as higher SG&A costs offset 2% lower same store sales.

In light of the recent dramatic volatility in its stock and the market in general, Waters Corp. (WAT ) says it maintains its previously announced Q1 guidance despite "slightly" unfavorable foreign exchange rates to-date.

CIBC World downgraded Ballard Power (BLDP ) to hold from strong buy.

Charles Schwab (SCH ) sees $0.08 Q1 EPS on $1.2B revenues. The firm will take a $70M-$100M pre-tax restructure charge in Q2 and will cut its workforce by 11%-13%.

Barnes & Noble (BKS ) posted $1.21 vs. $1.48 Q4 EPS and sees $1.61 fiscal 2002 EPS along with same store sales increase of 4%-5%. The bookseller says retail sales are expected to be somewhat weaker in the first half of fiscal 2002.

United Parcel (UPS ) sees $0.49-$0.51 Q1 EPS, citing the slowing economy. UPS says if current economic conditions persist, it expects $0.55-$0.60 Q2 EPS.

Netiq Corp. (NTIQ ) sees lower than expected $0.13-$0.17 Q3 EPS from operations on revenue of $37M-$40M. Prudential cuts estimates.

Enron (ENE ) is comfortable with its $1.70-$1.75 2001 EPS guidance.

All American (SEMI ) posted $0.55 vs. $0.22 Q4 EPS on a 51% sales rise. The firm sees lower Q1 sequential sales due to the slow economy.

Qlogic (QLGC ) was selected by Compaq (CPQ ) to supply adapters and drivers Compaq's VersaStor Technology.

Bellsouth (BLS ) and Dell (DELL ) will jointly market and sell broadband enabled computer systems for BellSouth's FastAccess Internet Service in the BellSouth region.

Texas Industries (TXI ) posted a $0.55 Q3 loss vs. $0.64 EPS on 19% lower sales.

Autodesk (ADSK ) set a six million share buyback.

Procter & Gamble (PG ) announced the next step in plans to deliver long term financial goals; expects total costs of program to be about $1.4B after-tax, with the bulk incurred in fiscal 2001 and fiscal 2002. P&G is to cut its total workforce by 9%.

Goldman cuts Microsoft (MSFT ) estimates, but says reductions are already reflected in the stock price. of analysts' sales, EPS estimates for 4Q.

Liberate Tech (LBRT ) posted a $0.09 Q3 loss vs. a $0.14 loss (pro forma, basic)on 92% revenue rise. The firm sees a $0.11-$0.13 Q4 loss on $14.5M-$15M revenue.

Dallas Semiconductor (DS ) expects Q1 revenues to be down about 30% vs. Q4's $130.1M, citing low turns orders, order cancellations and rescheduling. The firm says visibility in Q2 and beyond is limited.

Avnet (AVT ) agreed to acquire Kent Electronics (KNT ) in a $550M deal. Terms: 0.87 Avnet shares for each Kent share. Avnet sees $0.60-$0.65 vs. $0.56 Q3 EPS.

Tribune (TRB ) sees $0.18-$0.20 Q1 EPS from operations, and expects current soft advertising trends to continue in Q2, but sees stronger second half advertising revenues.

Stewart & Stevenson (SSSS ) posted $0.38 vs. $0.17 Q4 EPS from continuing operations on a 17% sales rise.

Del Monte Foods (DLM ) Sees $0.20-$0.23 Q3 EPS (adjusted), vs. consensus estimates of $0.26; sees $0.88-$0.92 fiscal 2001 EPS. Del Monte cited continued reduction of trade inventory levels held by the company's retail trade customers.

Zi Corp. (ZICA ) won an agreement with Ericsson Mobile Communications AB and Ericsson Inc., increasing the range for eZiText to have access to Ericsson's entire product offering worldwide.

According to The Wall Street Journal, some on the Street are wondering if General Electric will turn its sights on Heller Financial (HF ).

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