Micron Tech Tops Estimates

Micron Technology (MU ) posted a loss of $0.01 (continuing operations) vs. a year ago's $0.30, beating analysts' consensus of $0.03. Revenue dropped to $1.07B from $1.16B.

Warnaco (WAC ) posted a $0.71 loss vs. last year's one-cent gain, disappointing the Street's anticipated $0.15 loss. Revenue fell to $546.34M from $603.20M.

Calpine Corp. (CPN ) sees $1.80 2001 EPS vs. previous expectations of $1.50, citing accelerated growth in the U.S. power industry.

Goldman cut estimates on Siebel Systems (SEBL ).

Roberston Stephens downgraded Lucent (LU ) to market perform from buy.

International Paper (IP ) cut its Q1 EPS guidance to $0.05 from $0.16, citing an economic downturn, high-energy costs and the continued strong U.S. dollar. S&P maintains hold.

Bear Stearns cut estimates on Sun Microsystems (SUNW ), given continued weakness in enterprise markets and deteriorating economic conditions.

First Union upgraded McDonald's Corp. (MCD ) to strong buy from buy based on valuation.

Robinson Humphrey reportedly upgraded Action Performance (ACTN ) to buy from neutral.

TD Securities cut Sierra Wireless' (SWIR ) $59 12-month target to $37 and maintains buy.

Coca-Cola Enterprises (CCE ) sees a $0.19-$0.21 Q1 loss, citing soft North American volume and a competitive pricing milieu limiting its ability to reached planned pricing levels. S&P ranks hold.

Focal Communications (FCOM ) is in a multi-year deal with BellSouth for exchanging traffic by company's networks throughout the Southeast. Dain Rauscher reiterates buy.

NS Group (NSS ) plans restructuring to focus on energy products, which will result in yearly EPS increase of about $0.80. NSS will cut about 380 employees at its Newport facility and Koppel plant.

WD-40 Company (WDFC ) posted $0.35 vs. $0.43 Q2 EPS on a 3% revenue decline. WD-40 cuts its quarterly dividend to $0.27 per share from $0.32.

UBS Warburg upgraded Immunex Corp. (IMNX ) to buy from hold.

Merrill Lynch downgraded Alcatel (ALA ) to near-term neutral from accumulate, and maintains long-term accumulate.

NanoPhase Technology (NANX ) received an order for about $400,000 for a new environmental catalyst application to be filled in Q1.

Lehman downgraded Symbol Tech (SBL ) to buy from strong buy.

Emmis Communications (EMMS ) posted $0.31 vs. $0.30 Q4 after-tax cash flow per share on 47% revenue rise. Emmis posted $28.8M vs. $25.6M broadcast cash flow.

Computer Access (CATZ ) sees lower than expected $0.05-$0.06 Q1 EPS. Robertson Stephens downgraded to long term attractive from buy. CIBC World cut estimates.

Mylan Labs (MYL ) and Watson Pharmacueitcal received FDA approval to market generic forms of Bristol-Myers' anxiety drug BuSpar.

Cabletron Systems (CS ) posted $0.06 Q4 EPS (pro forma) vs. a $0.12 loss on a 46% revenue rise. Earlier it was incorrectly reported that the company posted a $0.04 year-ago EPS. S&P maintains hold. Roberston Stephens rates buy.

ITT Industries (ITT ) reiterated that it expects to achieve $0.63-$0.67 Q1 EPS. ITT sees modest sales growth for 2001, excluding foreign exchange, and says its forecast continues to be for low double-digit 2001 EPS growth.

Wausau-Mosinee (WMO ) sees a $0.05-$0.07 Q1 loss from operations due to weak demand and high energy costs. Goldman cut estimates.

JNI Corp. (JNIC ) sees $0.03-$0.04 Q1 EPS vs. year ago's $0.08 on $20M-$21M revenue. Salomon SB cut estimates, and maintains outperform.

Ingersoll-Rand (IR ) cut its $0.60-$0.65 Q1 EPS (continuing operations) forecast to $0.50-$0.52, and notes all of its major end markets deteriorated during March.

Safenet (SFNT ) sees lower than expected $0.03-$0.06 Q1 EPS ($0.02-$0.04 on 35% tax affected basis) on $6M in revenue. Safenet cites order cancellations, and reduced expectations from networking industry OEM accounts. Ryan Beck downgraded to hold from strong buy.

Penton Media (PME ) sees lower than expected $0.02-$0.05 Q1 EPS from operations on $107M-$112M revenues. Penton sees $0.25-$0.50 2001 EPS from operations vs. previous guidance of $0.55-$0.70 on $470-$500M revenues.

Tech Data Corp. (TECD ) posted $0.92 vs. $0.67 4Q EPS on an 11% sales rise. Tech Data cut its Q1 estimate to $0.45-$0.53 on sales of $4.6B-$4.8B. Bear Stearns reiterates buy.

According to The Wall Street Journal, Pfizer (PFE ) is expected to announce that it will form a joint venture with Microsoft and IBM to sell software and services to doctors.

Resources Connection (RECN ) posted $0.19 vs. $0.09 Q3 EPS on a 49% revenue rise.

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