Numerical Enters Pact with Intel

Numerical Technology (NMTC ) announced a cross-licensing pact with Intel for advanced photolithography solutions. CS First Boston reiterates strong buy.

Sepracor (SEPR ) posted a $0.63 Q1 loss vs. a $0.76 loss. Partner Janssen Pharmaceutical will suspend trials to evaluate the efficacy and safety of ticalopride pending further analysis in subjects with symptoms of GERD.

Bear Stearns and CS First Boston cut estimates on Ericsson (ERICY ). On Friday the company posted a $0.07 Q1 loss (excluding a gain) on 5% lower sales.

Williams Communications (WCG ) says at the close of trading Monday, 400M shares will be distributed to Williams Companies holders, completing the spin-off from Williams Companies. CIBC World maintains hold.

Lehman initiates coverage of Agere Systems (AGRA ) with market perform and prefers to stay on the sidelines until Agere's fundamentals improve.

Exxon Mobil (XOM ) posted $1.44 vs. $0.95 Q1 EPS on a 6% sales rise.

Pepsico (PEP ) posted $0.34 vs. $0.29 on 8% sales rise and sees 6%-7% 2001 revenue growth and 12%-13% 2001 EPS growth.

SPSS (SPSS ) sees lower than expected $0.01-$0.05 Q1 EPS from operations (pro forma) on $43M-$44M revenues. SPSS will lay off about 7% of its global workforce.

Capstone Turbine (CPST ) posted a $0.12 Q1 loss vs. a $1.92 operating loss on a sharp revenue rise. S&P maintains buy.

Merrill downgraded Ultratech Stepper (UTEK ) to near term accumulate from buy and upgrades to long term buy from accumulate. On Thursday the company posted $0.25 Q1 EPS from operations vs. a $0.14 loss.

S&P downgraded Cognex (CGNX ) to avoid from hold.

DB Alex Brown upgraded (AMZN ) to buy from market perform.

Merrill and Needham cut estimates on Brocade Communication (BRCD ).

Boston Scientific (BSX ) Stops enrollment of patients in clinical trials in Europe that tested drug-coated stents to treat heart patients. Prudential reiterates sell.

Lexmark (LXK ) posted $0.60 vs. $0.59 Q1 EPS on 12% revenue rise, sees 10%-15% Q2 EPS growth to $0.61-$0.67 and 15%-20% 2001 EPS growth. S&P maintains accumulate.

Merrill downgraded Intel (INTC ) and Applied Micro Circuit (AMCC ) to near-term neutral from accumulate.

Lehman downgraded Oracle (ORCL ) to buy from strong buy.

Banc of America upgraded Tricon Global (YUM ) to buy from market perform.

CS First Boston upgraded Gap (GAP ) to buy from hold.

CS First Boston downgraded Airtran Holdings (AAI ) to hold from buy.

Alliant Energy (LNT ) posted $0.45 vs. $0.45 Q1 EPS from operations as higher utility operating costs and lower results from investments in Brazil offset a 49% revenue rise. Alliant says it is on track to meet 2001 performance targets.

Merrill Lynch (MER ) plans to cut 5%-10% of workers in investment banking division, according to the Financial Times.

Zoll Medical (ZOLL ) received a license from Health Canada for M-Series platform of defibrillators/pacemakers/monitors.

Delta Airlines (DAL ) and pilots' union reach tentative agreement on new contract, averting a possible strike. CS First Boston upgraded Delta to buy from hold.

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