Wind River Shares Sail Higher
Wind River (WIND ) sees lower than expected $0.04-$0.06 Q1 EPS (pro forma) on 18%-20% revenue growth. The company set cost control efforts including a workforce reduction and restructuring. WR Hambrecht downgraded to neutral.
JP Morgan upgraded RF Micro Device (RFMD ) to buy from long term buy.
DB Alex Brown says BEA Systems (BEAS ) valuation still is a concern and urged investors to be selective on timing.
CIBC World views PacifiCare Health's (PHSY ) weakness as a buying opportunity. On Thursday the stock fell after a $0.39 Q1 EPS announcement.
Salomon downgraded Oxford Health (OHP ) Cigna (CI ), Mid Atlantic Medical (MME ), Coventry Health (CVTY ) and Heath Net (HNT ) to outperform from buy.
RadioShack Corp. (RSH ) posted slightly lower April same-store sales, 4% lower total sales.
Prudential downgraded Liberty Financial (L ) to hold from strong buy. On Thursday Liberty posted $0.60 vs. $0.67 Q1 EPS from operations
Sapient (SAPE ) posted a $0.05 Q1 loss per share vs. $0.10 EPS (pro forma) despite a 9% revenue rise. The company reportedly cut Q2 guidance on a conference call. CS First Boston downgraded the shares to hold from buy. Bear Stearns cut estimates.
J D Edwards (JDEC ) expects Q2 EPS from normalized operations to be better than current consensus estimates -- and significantly better than one year ago. The company sees $210-$215 million Q2 revenue. It also cut its workforce by about 8%.
Symbol Technologies (SBL ) posted $0.18 vs. $0.22 Q1 EPS (pre-split) as higher operating costs offset 41% higher revenue. Symbol expects lower sequential quarterly growth than it originally planned for 2001. Lehman cut its estimates for Symbol.
Cable Design (CDT ) sees lower than expected $0.13-$0.15 Q3 EPS on sales of $175-$180 million. Current quarter results exclude a loss on the sale of its U.K. distribution business.
Charles E. Smith (SRW ) agreed to be acquired by Archstone Communities (ASN ) in a $3.6 billion deal. Terms: 1.975 Archstone shares for each Smith share. CSFB downgraded Archstone to hold from buy.
American Power Conversion (APCC ) posted $0.14 vs. $0.24 Q1 EPS as higher cost of goods sold and higher operating costs offset a 16% revenue rise.
Cima Labs (CIMA ) posted $0.20 Q1 EPS on a 4% revenue rise. Cima expects Q2 EPS to be at or near Q1's level. It also expects the second half of the year to be stronger than the first due to accelerating sales of Remeron SolTab, Zomig-ZMT, Rapimelt, and NuLev.
T/R Systems (TRSI ) sees a $0.10-$0.13 Q1 loss per share vs. $0.06 EPS last year on a 15%-21% revenue drop. T/R cites heightened restraint in purchasing decisions of its end users.
Lehman upgraded its rating on Charter Communications (CHTR ) to strong buy.
Idacorp (IDA ) posted $0.93 vs. $1.12 Q1 EPS as increases in net power supply costs at the company's regulated electric utility, Idaho Power, offset a 32% revenue rise.
Wisconsin Central (WCLX ) posted $0.25 vs. $0.25 Q1 EPS on flat revenues. The company says that given the uncertain economy, it remains very cautious in its outlook for the balance of the year.