Cablevision Announces Charge, Job Cuts
Yahoo! (YHOO ) shares were higher for a second straight day. On Dec. 27, the company agreed to acquire HotJobs.com in a $436 million deal. CIBC World says the deal is a near-term positive for Yahoo. But S&P reiterated its sell rating on the shares.
eFunds (EFDS ) shares were lower after the company said it sees lower than expected $0.20-$0.23 fourth-quarter EPS on $127-$130 million in revenues, citing the timing of new contracts and lengthening sales cycles.
Inrange Technologies (INRG ) shares fell following the news that Gregory Grodhaus resigned as as president and CEO. Inrange expects to meet recent fourth-quarter guidance of a $0.02 loss-$0.02 EPS on $60-$66 million in sales.
ACLN Ltd. (ASW ) shares were falling amidst questions about "Frontline Trader," a Web site that issued an "urgent buy" rating on ACLN on Wednesday.
Nanometrics (NANO ) shares declined after the company said it sees fourth-quarter revenue down 25% from the third quarter vs. its previous forecast of flat revenue due to continuing overcapacity in the semiconductor industry and economic deterioration in the U.S. and Japan.
Radiant Systems (RADS ) shares rose after the company said it was comfortable it will meet or exceed analysts' fourth-quarter estimate range of $32-$33 million in revenue and a $0.01 loss- to breakeven (excluding non-recurring charges). ST Robinson Humphrey upgraded the shares to buy.
SoundView is very confident in its Street-high December quarter estimates for Webex (WEBX ), and reiterated its strong buy. The company was unavailable for comment.
Cablevision (CVC ) plans to take a fourth-quarter restructuring charge of about $55 million related to the elimination of about 600 positions, and a facility realignment.
DMC Stratex (STXN ) sees a wider than expected $0.14-$0.16 third-quarter loss per share on lower than expected revenues of $43-$46 million. The company cites scheduling changes in shipments late in the quarter.
Radisys (RSYS ) remains confident in fourth-quarter guidance of revenues in the mid-$50 million range. The company will take an $18 million charge for inventory writedown.
Waters Corp. (WAT ) will be added to the S&P 500 index after the close of trading on Dec. 31, replacing FMC Corp., which is spinning off FMC Technologies.
FMC Corp. (FMC ) will be added to the S&P MidCap 400 index after the close of trading on Dec. 31, replacing Waters Corp., which is being added to the S&P 500 index.
FMC Technologies (FTI ) will be added to the S&P MidCap 400 index after the close of trading on Dec. 31, replacing Lance Inc., which is being added to the S&P SmallCap 600 index.
Lance Inc. (LNCE ) will be added to the S&P SmallCap 600 index after the close of trading on Dec. 31, replacing APW Ltd., which is being removed from the index for lack of representation.
Commerce Bancshares (CBH ) will be added to the S&P MidCap 400 index after the close of trading on a date to be announced, replacing Dime Bancorp, which is being acquired.
Sunrise Assisted Living (SRZ ) will be added to the S&P SmallCap 600 index after the close of trading on a date to be announced, replacing Commerce Bancorp, which is being added to S&P MidCap 400 Index.