Micron Up on Rising Chip Prices

Sierra Wireless forecasts much lower than expected revenues; Westcoast Hospitality to buy Hilton unit; plus more of today's stocks to watch

Universal Electronics (UEIC ) sees $27-$28.5 million in sales and $0.25-$0.26 EPS (including projected tax benefit) in the fourth quarter. The company notes December orders were lighter than in prior years, and lighter than it had expected.

Sierra Wireless (SWIR ) sees $8.3-$8.6 in fourth-quarter revenues, below its previous $14-$15 million guidance with bottom-line operating results correspondingly lower. The company cited delays in ramping up to higher unit volume shipments of new products.

Goldman removed Suncor Energy (SU ) from its recommend list, and now rates the shares market outperform. UBS Warburg downgraded the shares to buy from strong buy.

Stephens reportedly downgraded ImClone Systems (IMCL ) to outperform from buy. S&P keeps buy. Onb Dec. 31, the FDA denied the company's BLA for its colon cancer drug.

Level 3 Communications (LVLT ) became a primary provider of broadband services for Sony Pictures Digital Entertainment's Screenblast. Kaufman Bros. reiterates strong buy.

USB Piper downgraded Genzyme Corp. (GENZ ) to market perform from market outperform. The company was unavailable for comment.

Micron Technologies (MU ) was among the chip stocks seen higher as Korea's Hynix said it recently raised contract chip prices by 30% on average. SoundView maintains buy on Micron, while BoA keeps market perform.

UBS Warburg downgraded BJ Services (BJS ) to hold from buy. JP Morgan downgraded the shares to market perform from long term buy. The company could not cite any news.

CS First Boston downgraded Dianon Systems (DIAN ) to hold from strong buy.

UBS Warburg downgraded Anadarko Petroleum (APC ) and EOG Resources (EOG ) to hold from buy.

Prudential upgraded Dollar General (DG ) to hold from sell. The company obtained extensions to previously announced waivers from bank lenders under outstanding financing agreements.

Westcoast Hospitality (WEH ) acquired Red Lion Hotels from Hilton Hotels for $50.6 million.

Prudential downgraded Kmart Corp. (KM ) to sell from hold.

Needham upgraded GlobespanVirata Inc. (GSPN ) to strong buy from buy.

Bear Stearns downgraded IMS Health (RX ) to attractive from buy.

Goldman downgraded Priority Healthcare (PHCC ) to market outperform from trading buy.

Robertson Stephens downgraded eBay Inc. (EBAY ) to buy from strong buy.

Merrill reportedly upgraded AT&T Corp. (T ) to near term buy.

Banc of America reportedly upgraded Ann Taylor (ANN ), Limited Inc. (LTD ), and Intimate Brands (IBI ).

Metalink (MTLK ) sees fourth-quarter revenues increasing about 40% from the third quarter, to $1.7 million, and expects its book-to-bill ratio to be well over one.

Mirant Corp. (MIR ) terminates planned acquisition of 50% of EcoElectrica, a power project in Puerto Rico, from an Edison International (EIX ) subsidiary.

A U.S. District Court approved a temporary restraining order requiring EchoStar Satellite Corp. to adhere to its affiliation agreement, continue carrying Walt Disney's (DIS ) ABC Family Channel.

According to a press report, Microsoft (MSFT ) has $36 billion in cash and securities, more than any other U.S. corporation. Some are urging the company to pay dividends. Separately, a ruling is expected on the company's request for a four-month delay of hearings on proposed antitrust remedies.

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