Rambus Slides on Lower Revenue Expectations
Rambus (RMBS ) posted $0.03 (pro forma) from operations vs. $0.04 Q3 EPS on a 31% revenue rise and expects Q3 total revenue will decline sequentially by about 20%. Morgan Stanley cut estimates.
Toys R Us Corp. (TOY ) lowered Q2 and fiscal 2002 guidance. S&P expects about a $0.15 Q2 loss, and now sees $1.30 fiscal 2002 EPS. S&P maintains accumulate.
UBS Warburg expects Lucent Technology (LU ) to achieve Q3 consensus estimate and show improving balance sheet trends. S&P maintains hold, but says the stock could be viewed as a potential short term trade.
CIBC World initiated coverage on Earthlink (ELNK ) with strong buy and a $20 target.
Southbanc Shares (SBAN ) says it is in preliminary talks with a regional bank holding company regarding possible purchase of Southbanc Shares. Terms: $28 per Southbanc Shares share in cash and stock.
Visual Networks (VNWK ) posted a $0.08 Q2 loss vs. $0.01 EPS on a 37% revenue decline.
CS First Boston initiated coverage on Stratos Lightwave (STLW ) with buy.
Universal American Financial (UHCO ) priced a secondary offering of a total of 7.2M shares at $5.00.
Allscripts Health (MDRX ) will cut 9% of its workforce and take a $3M-$5M related Q3 charge.
Bear Stearns upgraded New York Times (NYT ) to buy from attractive.
Wright Medical (WMGI ) offered an initial 7.5 million shares at $12.5 per share.
Advanced Micro (AMD ) posted $0.05 vs. $0.67 Q2 EPS on a 16% sales decline, and sees a 10%-15% Q3 revenue decline, which would result in an operating loss. S&P and CS First Boston cut estimates.
Juniper Networks (JNPR ) posted $0.09 vs. $0.08 Q2 EPS (pro forma) on a 79% revenue rise and sees $0.09 Q3 EPS and $0.10 EPS for Q4. S&P cut estimates. Robertson Stephens upgraded to strong buy.
RSA Security (RSAS ) posted $0.17 vs. $0.15 Q2 EPS from operations on a 21% revenue rise. RSA sees $0.03-$0.09 Q3 core operating EPS, $0.11-$0.20 EPS for Q4 and $0.50-$0.75 EPS for 2002. S&P cut the 2001 estimate. CS First Boston and First Albany downgraded.
Visx Inc. (EYE ) posted $0.19 vs. $0.07 Q2 EPS from operations on a 2.9% revenue rise. J.P. Morgan downgraded to market performer from long-term buy. S&P maintains hold.
Sipex Corp. (SIPX ) sees Q2 revenue of about $20.5M, below its previous guidance of $22M-$24M, citing price declines on some of its telecom products. Sipex will take a charge of $2.6M for write-down of inventory.
Electronics For Imaging (EFII ) posted better than expected $0.26 vs. $0.40 Q2 cash EPS on a 5% revenue decline. The company reaffirmed prior guidance for the rest of 2001. S&P maintains accumulate.
Powerwave Technology (PWAV ) posted a $0.04 Q2 loss (basic) vs. $0.18 EPS on a 29% revenue decline. Needham cut estimates.
Kimberly-Clark (KMB ) sees $0.81 Q2 EPS on a 5% sales rise (including a foreign exchange impact). Assuming no further deterioration in foreign exchange, the company expects 2001 EPS from operations will be toward the low end of analysts' $3.40-$3.55 range. S&P downgraded and Goldman cut estimates.
Papa John's (PZZA ) posted flat June systemwide same store sale and slightly lower Q2 systemwide same store sales. Papa John's expects Q2 EPS will be at or above the upper end of the $0.46-$0.53 range.
Actuate Corp. (ACTU ) posted $0.04 vs. $0.04 Q2 EPS (pro forma) despite 33% revenue rise and sees $0.02-$0.04 Q3 EPS on revenue of $30M-$32.5M. CS First Boston reiterates buy.
Great Lakes (GLK ) sees lower than expected $0.33-$0.35 Q2 EPS from operations, and initiated a cost savings program. Goldman downgraded to market perform. S&P maintains hold.
Centra (CTRA ) posted a $0.14 Q2 loss vs. $0.14 loss despite a 95% revenue rise and sees $46M-$50M 2001 revenue and a $0.38-$0.41 loss from operations. Needham downgraded to buy from strong buy.
Metron Technology (MTCH ) posted $0.19 vs. $0.20 Q4 EPS despite a 6.9% revenue rise. Metron says the outlook for Q1 remains cautious; the company has seen no near term signs of recovery.
Safenet (SFNT ) posted a $0.13 Q2 loss from operations vs. $0.08 EPS on a 46% revenue decline. Safenet sees $4M-$4.2M Q3 revenue and $18M-$19M revenue for 2001.
Daktronics Inc. (DAKT ) sees lower than expected $0.06-$0.08 Q1 EPS on $38M-$40M revenues.
Inforte (INFT ) posted $0.01 vs. $0.13 Q2 EPS on a 24% revenue drop. The company gave guidance for each quarter going forward of $10M revenue with breakeven cash results. Inforte also sees$0.08 2001 cash EPS on $46.6M revenue as well as breakeven 2002 on $40M revenue.
Carbo Ceramics (CRR ) posted $0.51 vs. $0.26 Q2 EPS on a 60% revenue rise.
Orasure Technology (OSUR ) filed a 510(k) application with FDA for its UPlink reader, and six oral fluid drugs of abuse assays.