Cisco Says It's on Track to Meet Estimates

Lilly slides on lowered guidance; Kronos expects stronger earnings; plus more of today's stocks in the news

Cisco ( CSCO ) says it is comfortable with analysts' $0.01 loss to $0.03 Q1 EPS estimate, $4B-$4.3B Q1 sales estimate. S&P maintains hold.

Salomon raised estimates on ACE Ltd. (ACE ).

Needham upgraded Flextronic (FLEX ) to buy from hold and set a $25 price target. On Tuesday Flextronic and Xerox inked a manufacturing pact.

S&P says (PCLN ) now sees Q3 revenue at the high end of the range announced two weeks ago and keeps its hold rating. Prudential upgraded to buy. Goldman raised estimates.

Kronos (KRON ) sees better than expected Q4 EPS of at least $0.70 vs. $0.41-$0.57 consensus. Kronos says it closed more orders in the last weeks of the quarter than expected. Needham raised estimates and target. (HOMS ) sees a $0.01-$0.06 Q3 loss from operations and says the Sept. 11 attacks compounded an already deteriorating advertising market. Prudential cut estimates and target.

Edison International (EIX ) and the California Public Services Committee announced a deal to pull SoCal Edison out of insolvency without help from state lawmakers; Edison will work out a creditor payment plan.

Robertson Stephens upgraded American Eagle (AEOS ) to buy from market perform.

Natus Medical (BABY ) sees a $0.05-$0.07 Q3 loss on revenues of about $6.3M, citing the Sept. 11 events, subsequent business interruptions, and delays in implementing government-sponsored hearing screening programs in Britian.

Optimal Robotics (OPMR ) Due to soft, uncertain economic environment accelerated by Sept. 11 tragedies, Optimal sees $0.27-$0.28 Q3 EPS and $1.00-$1.05 2002 EPS. Raymond James reportedly downgraded.

Nortel Networks (NT ) sees Q3 revenues from continuing operations of about $3.5B, and an operating loss of $0.28. Nortel will further cut its workforce. S&P keeps hold; Goldman keeps market outperform.

Littlefuse (LFUS ) sees about $0.05 Q3 EPS from operations on about a 4% sales decline, citing weak demand for electronic and electrical products.

Gilat Satellite (GILTF ) sees lower than expected Q3 revenue, and says revenues from consumer segment were minimal. Revenues also were negatively impacted by Sept. 11 events.

Tiffany (TIF ) sees $0.12-$0.15 Q3 EPS on about a 10% total sales drop; and sees $0.49-$0.56 Q4 EPS on a low double-digit same store sales decline; as well as $1.05-$1.15 fiscal 2002 EPS; and modest fiscal 2003 EPS growth.

Openwave Systems (OPWV ) sees a $0.01-$0.04 Q1 loss (pro forma) on revenue of $115M-$120M. Robertson Stephens cut estimates.

Eli Lilly (LLY ) sees $0.66 Q3 EPS from operations, in line with estimates. Lilly sees $0.59-$0.61 Q4 EPS due to an accelerated rate of Prozac sales erosion. Lilly sees $2.75-$2.77 2001 EPS from operations, $2.70-$2.80 2002, and high teens 2003 EPS growth.

Nextel Communications (NXTL ) says it is on track to achieve 2001 targets of 1.9M-2M domestic subscriber additions, and $1.9B operating cash flow. Nextel expects to report Q3 subscriber adds, and operating cash flow in range of expectations.

Insight Enterprises (NSIT ) sees $0.19-$0.21 Q3 EPS on sales of $490M, down 9% from Q3.

Compuware (CPWR ) sees Q2 revenues of $420M-$426M, EPS of $0.09-$0.11. S&P maintains hold.

Digital Lightwave (DIGL ) sees a $0.09-$0.10 Q3 loss from operations on revenue of $8.3M-$8.7M, citing deteriorating domestic and international telecommunication industry conditions, and overall economic weakness.

TMP Worldwide (TMPW ) cut the Q3 EPS estimate to $0.34-$0.36, cut the Q4 to $0.24-$0.26, citing the ongoing negative economic impact and business disruptions related to Sept. 11 events. S&P maintains hold.

Applebee's (APPB ) sees $0.43-$0.44 Q3 EPS, and $0.42-$0.45 for Q4. The company expects system-wide comparable sales for Q4 to be in the range of zero to up 2%.

Swift Transport (SWFT ) sees $0.13-$0.16 Q3 EPS from operations, citing continuing difficult economic conditions, which were further hampered by the recent tragedies of Sept. 11.

Williams-Sonoma (WSM ) expects to meet previously announced $0.05-$0.07 Q3 EPS guidance on revenues of $460M-$470M, below the previous $478M-$492M guidance.

L-3 Communications (LLL ) offered to buy Spar Aerospace Limited of Canada for C$15.50 per share, or total of C$230M.

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