Tricon Global Sees Revenues Slimming
Tricon Global (YUM ) posted $0.59 vs. $0.80 Q1 EPS on 5.7% lower revenues and expects a slight revenue decline for all of 2001. Prudential cut estimates.
Morgan Stanley sees stabilization in Cisco Systems' (CSCO ) North American enterprise market.
Merrill initiated coverage of RF Micro Devices (RFMD ) with near-term accumulate, long term buy.
UBS Warburg downgraded Ultramar Diamond Shamrock (UDS ) to hold from strong buy and downgraded Sunoco (SUN ) to buy from strong buy.
WR Hambrecht upgraded S1 Corp. (SONE ) to strong buy from buy. Late Tuesday S1 posted a $0.16 Q1 EBITDA loss vs. a $0.35 loss on a 25% revenue rise and forecast $62M-$65M in Q2 revenues as well as $275M-$285M in 2001 revenues.
Cigna Corp. (CI ) posted $1.81 vs. $1.57 Q1 EPS from operations despite a 3.3% revenue drop. JP Morgan downgraded to long-term buy from buy. S&P maintains accumulate.
Salomon upgraded Cabot Microelectronics (CCMP ) to buy following recent signals that the bottom is near in the semiconductor industry.
Quanta Services (PWR ) posted $0.38 vs. $0.28 Q1 EPS on a 56% revenue rise and sees $0.50-$0.55 Q2 EPS on 8%-12% revenue growth, and sees $2.14-$2.18 2001 EPS on 15%-20% revenue growth. Tucker Anthony reiterates strong buy.
ResMed (RMD ) posted $0.24 vs. $0.18 Q3 EPS from operations on a 42% revenue rise. Robertson Stephens upgraded to buy and has a $54 target.
Transaction Systems (TSAI ) posted $0.06 (pro forma) vs. $0.05 Q2 EPS on a slight revenue rise and sees $0.12-$0.18 Q3 EPS on $79M-$84M in revenue. The firm says William Fisher will step down as chairman and CEO.
Swift Energy (SFY ) posted $0.89 vs. $0.43 Q1 EPS from operations on s 65% revenue rise.
Martha Stewart (MSO ) posted $0.13 vs. $0.11 Q1 EPS on a 3% revenue rise and sees $0.10-$0.11 Q2 EPS.
Merrill upgraded Priceline.com (PCLN ), Prudential raised its $3 target to $5, and S&P maintains hold. Priceline.com posted a $0.03 Q1 loss (pro forma) on $269.7 million in revenue. The company reaffirmed its earlier projections of a 10%-15% Q2 sequential revenue rise; it expects to report a pro forma operating profit. .
Kodak (EK ) sees 5%-7% annual revenue and EPS growth once the economic downturn ends. The company reiterated its $1.00-$1.30 Q2 EPS forecast.
Alpha Industries (AHAA ) posted $0.08 vs. $0.11 Q4 EPS on 7% revenue decline. Alpha expects Q1 revenues in the range of $32-$35 million and a loss per share of $0.08-$0.11.
WR Hambrecht cut estimates on CNET Networks (CNET ). CNET posted an $11.7 million Q1 EBITDA loss vs. $6.7 million EBITDA (pro forma) on a 19% revenue decline. CNET posted a $0.13 Q1 loss vs. $0.02 EPS (adjusted). The company expects a $12-$20 million Q2 EBITDA loss and a $29-$55 million 2001 loss. Sodexho Alliance will acquire all shares of Sodexho Marriott (SDH ) it does not already own for $32 per share cash in a $1.079 billion deal.
Quantum DLT Storage (DSS ) posted $0.20 vs. $0.14 Q4 EPS despite a 15% revenue decline. The company expects a slight sequential decline in Q2 revenue and EPS from ongoing operations.
Papa John's (PZZA ) posted $0.56 vs. $0.45 Q1 EPS on 4.5% higher systemwide same store sales. The company raised 2001 EPS guidance to $1.95-$2.16.
Resmed (RMD ) posted $0.24 vs. $0.18 Q3 EPS from operations on a 42% revenue rise.
York Group (YRKG ) rejected Wilbert Inc.'s $6.50 per share takeover offer, saying the offer was inadequate.
Imco Recycling (IMR ) posted a $0.02 Q1 loss vs. $0.17 EPS on 16% lower revenues and weaker profit margins resulting from greater natural gas costs and lower processing volume.
PSI Tech (PSIT ) posted $0.05 vs. $0.16 Q1 EPS as narrowed gross margin offset 4% revenue rise. The company expects a 5%-10% sequential decline in Q2 revenues.
Univision Communications (UVN ) posted 11% higher Q1 after tax cash flow, 7% higher EBITDA on 7% revenue rise. The company expects its core TV business revenues in Q2 to grow by 1%-4% and EBITDA to increase to $105-$110 million.
Martha Stewart (MSO ) posted $0.13 vs. $0.11 Q1 EPS on a 3% revenue rise. The company sees $0.10-$0.11 Q2 EPS.
AutoNation (AN ) posted $0.17 vs. $0.17 Q1 EPS despite a 6.6% revenue drop. The company sees $0.21-$0.23 Q2 EPS and $0.85-$0.90 2001 EPS.
Quanta Services (PWR ) posted $0.38 vs. $0.28 Q1 EPS on a 56% revenue rise. Quanta sees Q2 revenue growth of 8%-12% and EPS of $0.50-$0.55 EPS and 2001 revenue growth of 15%-20%and $2.14-$2.18 EPS.
Swift Energy (SFY ) posted $0.89 vs. $0.43 Q1 EPS from operations on a 65% revenue rise.
CIGNA Corp. (CI ) posted $1.81 vs. $1.57 Q1 EPS from operations despite a 3.3% revenue drop. The company notes a decrease in premiums and fees due to the absence of revenues from interest in Japanese life insurance business.
Fluor Corp. (FLR ) posted $0.36 Q1 EPS on $2 billion in revenue from continuing operations. The company sees $0.40-$0.45 Q2 EPS from operations. S&P maintains accumulate.
Gilead Sciences (GILD ) submitted a New Drug Application (NDA) to the FDA for marketing approval of tenofovir disoproxil fumarate, an investigational reverse transcriptase inhibitor in development for treatment of HIV.
American Medical (AMMD ) received marketing approval from the FDA for its unique antibiotic surface treatment on AMS 700 series penile prostheses.
Bassett Furniture (BSET ) expects a 15%-18% Q2 revenue decline. The company says Q2 EPS will be "significantly" impacted by lower levels of sales and production.