Providian Lowers Outlook

Measurement Specialists cuts guidance; Computer Associates announces layoffs; plus more of today's stocks to watch

Credit-card company Providian Financial (PVN) said it sees third-quarter earnings per share between $0.19 and $0.21 compared with its earlier forecast of $0.82 to $0.84. DB Alex Brown and S&P both lowered ratings on the stock.

Prudential ugpraded Cepheid Inc. (CPHD ) to buy from hold. Details, and a response from the company, were unavailable.

Regeneron (REGN ) plans to offer about $150M of 7-year convertible senior subordinated notes. Measurement Specialists MSS ) said it sees a second quarter loss of $0.05 to breakeven, on revenue of $34 million to $35 million. The company says the slowing economic environment, accelerated by events of September 11, affected sales and orders.

Amylin Pharmaceutical AMLN said the Food and Drug Administration determined the comapany's NDA for Symlin is approvable for both type-1 and type-2 diabetes.

Juniper Networks (JNPR ) posted pro forma third-quarter earnings per share of $0.10 compared with $0.17 on flat revenue. The communications equipment concern sets a $200 million stock buyback. Salomon Smith Barney upgraded the stock to outperform from neutral.

Internet advertising company DoubleClick (DCLK ) reported a third-quarter loss from operations of $0.09 per share compared with a $0.03 loss on a 31% revenue decline. The company will cut 100 jobs in the fourth quarter. S&P reiterates its hold rating.

Software maker Computer Associates (CA ) will cut about 900 jobs across all areas. The company says this will result in a cost of up to $20 million during its December quarter.

Credit-card issuer MBNA Corp. (KRB ) posted $0.54 vs. $0.43 third-quarter EPS on 17% higher net interest income. S&P maintains buy.

Morgan Stanley downgraded Agilent Technologies (A ) to outperform from strong buy.

AstraZeneca (AZN ) says a new study suggests treatment with its Seroquel tablets reduces psychotic, manic symptoms in adolescents suffering from psychotic disorders.

Software and services concern Centra Software (CTRA ) posted a pro forma third-quarter loss of $0.13 compared with a loss of $0.14 loss on a 46% revenue rise. The company says revenues were lower than expected and it sees a loss of $0.47 to $0.49 in 2001 and pro forma EPS of $0.10 to $0.13 in 2002.

Electronics For Imaging (EFII ) posted pro forma third-quarter EPS of $0.25 compared with $0.37 on a 17% revenue decline. The color printing software company sees fourth quarter EPS between $0.15 and $0.17 on revenue of $108 million to $113 million. S&P cut its estimates and downgraded the stock to hold.

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