Marriott Posts Lower Profits

Outback Steakhouse sales weaken after Sept. 11 attacks; Corning sees a loss; plus more of today's stocks to watch

Marriott International (MAR ) posted $0.39 vs. $0.43 Q3 EPS as a 10% drop in revenue per available room (REVPAR) offset a slight sales rise. Marriott sees $0.20-$0.30 Q4 EPS, and flat 2002 EPS vs. 2001.

Dell (DELL ) reaffirmed $0.15-$0.16 Q3 EPS on $7.2B-$7.6B revenue guidance.

Outback Steakhouse (OSI ) posted a slight decline in September same store sales for domestic Outback Steakhouses, increased of about 4.1% for Carrabba's Italian Grills, citing soft sales in the wake of the Sept. 11 attacks.

Corning (GLW ) cut the Q3 guidance to $0.02-$0.06 EPS (pro forma), now sees a Q4 loss. Corning set an expanded restructuring program resulting in charges of up to $1B in 2001. Merrill cuts estimates and S&P puts estimates under review.

Netegrity (NETE ) sees a $0.08-$0.10 Q3 loss on $16.5M-$17.5M revenue, below guidance.

Peregrine System (PRGN ) sees $0.05 Q2 EPS (pro forma) on revenue of about $175M. W.R. Hambrecht downgraded to neutral from buy.

Research In Motion (RIMM ) posted $0.05 Q2 EPS vs. a $0.02 loss (pro forma) on 88% revenue rise. JP Morgan downgraded to long term buy. S&P initiates with hold.

Valassis Communications (VCI ) expects the worsening advertising recession, media pull-back will cause it to fall short of previous second half goals, and now sees $0.50-$0.54 second-half EPS.

Radioshack (RSH ) posted 3% lower September same store sales, and 6.3% lower sales.

Check Point (CHKP ) sees $0.28-$0.29 Q3 EPS vs. Street consensus of $0.29 on lower than expected revenue of $117M-$118M. S&P maintains accumulate.

Manugistics (MANU ) posted a $0.16 Q2 loss vs. $0.02 EPS (adjusted) despite 22% revenue rise. The company cited the lengthened sales cycles, and unanticipated order delays, and sees $60M-$65M Q3 revenue, and sees an operating loss similar to Q2.

Quest Software (QSFT ) sees $0.01-$0.02 Q3 EPS (pro forma) on revenue of $55M-$56M. Quest increased its buyback authorization from 2M shares to 5M.

The FDA unanimously supports the use of Gilead Science's (GILD ) investigational antiviral agent Viread for treatment of HIV infection in adult patients who have received prior antiretroviral therapy.

Knight Trading (NITE ) sees $0.02-$0.04 Q3 EPS from operations, below consensus estimates and will take a $0.03/share non-operating charge for write-downs on excess real estate capacity.

Barr Labs (BRL ) sees $1.75-$1.80 Q1 EPS vs. the $1.42 First Call consensus. Barr cited stronger than expected sales of generic Prozac 20 mg capsule, Tamoxifen.

Tyco International, through its TGN Holdings unit, offered to acquire an outstanding 11% minority interest in Tycom (TCM ). Terms: 0.2997 Tyco share for each Tycom share. Tyco currently holds 89% of Tycom shares.

Sara Lee Corp. (SLE ) says the adoption of new accounting rules will increase fiscal 2002 net income by $109M, and boost the EPS by $0.13. Sara Lee sees $0.24-$0.27 Q1 fiscal 2002 EPS, and $1.35-$1.45 for fiscal 2002.

Xerox Corp. (XRX ) announced that CFO Barry D. Romeril will retire at year-end.

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