Cheap Tickets Soars on Cendant Buyout News

Ford shares drop as company agrees to settle consumer lawsuits, CNF's Emery Worldwide will suspend air operations; plus more of today's stocks in the news

Cheap Tickets (CTIX ) agreed to be acquired by Cendant Corp. (CD ) for $16.50 cash per share.

According to press reports, Ford Motor (F ) agreed to settle some lawsuits tied to defective ignition systems. UBS Warburg downgraded the shares on concerns Ford may be headed for a dividend cut and a credit rating downgrade.

Goldman Sachs added Broadcom (BRCM ), Conexant Systems (CNXT ) Microtune (TUNE ) and Qualcomm (QCOM ) to its recommended list.

CNF Inc.'s (CNF ) Emery Worldwide Airlines unit suspended its air carrier operations as part of its agreement with the FAA.

Valspar (VAL ) posted $0.51 vs. $0.59 3Q EPS as more shares offset 42% sales rise and thinks Q4 EPS will be better than Q3.

TTI Team Telecom (TTIL ) posted $0.28 vs. $0.19 Q2 EPS on a 43% revenue rise, and sees ongoing growth in the second half of 2001 and 2002.

UBS Warburg upgraded Xerox Corp. (XRX ) to buy from hold.

Donaldson Co. (DCI ) sees better than expected $269.7M Q4 revenues. S&P upgraded to accumulate from hold. Robert Baird plans to raise fiscal 2001 and fiscal 2002 EPS estimates.

ABN Amro downgraded E.Piphany (EPNY ) to hold from add on macroeconomic weakness.

SG Cowen maintains strong buy on Mediacom Communications (MCCC ). First Union reiterates strong buy.

Peabody Energy (BTU ) sees 5%-10% calendar 2001 EBITDA growth, and 40%-50% calendar 2002 growth, citing higher prices on Appalachian and Powder River Basin sales and increased sales volumes.

Talks between Western Resource (WR ) and Public Service Co. of New Mexico, to modify a transaction agreement, have discontinued.

JP Morgan cut estimates on Charles Schwab (SCH ).

S&P downgraded AOL Time Warner (AOL ) to accumulate from buy and believes the company may have trouble reaching its Q3 revenue estimate.

Schering-Plough (SGP ) and Roche (SGP ) are in a cross-licensing deal that settles all patent disputes relative to both companies peginterferon products.

According to a press report, AT&T (T ) executives held meetings with Microsoft and Disney in efforts to court potential suitors and partners for its cable-TV business. Executives are trying to start a bidding war for AT&T Broadband three weeks after Comcast's.

As result of customer bankruptcy filings in early August, Alcoa Inc. (AA ) says its Q2 earnings have been revised to $421M from $429M before special charges.

Hologic Inc. (HOLX ) posted a $0.39 Q3 loss vs. a $0.17 loss as higher costs offset a sharp revenue rise. The firm set a restructuring plan including a 10% cut in its workforce, and will take related Q4 charge of $1.3M.

Goldman reportedly added Intel Corp. (INTC ) to its recommended list, and upgraded other chips.

IGEN International (IGEN ) trading was halted on Friday, and the company says a federal court granted more breach-of-contract judgments in favor of IGEN against Roche Diagnostics. The judgments in IGEN's favor could lead to awards of monetary damages to IGEN.

APA Optics (APAT ) received notice from a customer canceling a $500,000 order for the company's 16 channel, 50 Gigahertz (GHz) spacing dense wavelength division multiplexer/demultiplexer (DWDM) components.

WGL Holdings (WGL ) restated $1.44 Q2 EPS to $1.33, and its $0.12 Q3 loss to a $0.14 loss, citing an accounting error on the cost of gas. WGL reduced fiscal 2001 EPS to $1.88-$1.98 from $2.00-$2.10, but reaffirms $1.85-$1.95 fiscal 2002 guidance.

Donaldson Co. (DCI ) sees better than expected $269.7M Q4 revenues.

Cerus Corp. (CERS ) filed a shelf registration statement for sale of up to $300M of stock and debt securities.

RF Micro Devices (RFMD ) adopted a shareholders' rights plan.

Before it's here, it's on the Bloomberg Terminal.