Interpublic Tops Estimates
Interpublic Group (IPG ) shares advanced after the company posted better than expected $0.30 vs. $0.51 (pro forma) fourth quarter EPS. Bear Stearns upgraded the stock to attractive from neutral. S&P raised its estimate.
AT&T Wireless (AWE ) shares were lower after the company said it expects 2002 services revenue percentage growth, without TeleCorp, in the low double digits. It cited industry-wide pricing pressures and the challenging economy.
Micron Technology (MU ) shares gained after Thomas Weisel raiseds estimates and reiterated its buy rating.
Yahoo! (YHOO ) shaes climbed after SoundView upgraded the stock to strong buy.
Emulex (EMLX ) rose after First Albany reiterated its strong buy rating and $42.50 price target.
Novellus (NVLS ) says it is comfortable with current guidance of a $0.09 first quarter loss per share. The company thinks profitability is possible in the second quarter. Robertson Stephens upgraded the shares. S&P maintains its hold opinion. Goldman raised its estimates.
Integrated Device (IDTI ) sees 5%-7% sequential fourth quarter revenue growth, up from its prior guidance of flat to slightly higher. CIBC World upgraded the shares to buy from hold. S&P maintains avoid.
Andrx Corp. (ADRX ) says a judge granted its motion for summary judgment of non-infringement in Wellbutrin SR, Zyban case vs. Glaxo Wellcome. Merrill reiterated its strong buy rating.
Goldman added Federate Department Stores (FD ) to its recommended list. The stock had been rated rated market perform.
Bear Stearns upgraded Retek (RETK ) to buy from neutral.
Chartered Semiconductor (CHRT ) says first quarter EPS and revenue will be at the high end of previously provided guidance range. It sees a $0.98 first quarter loss per American Depositary Share on revenues up mid-single digits from the fourth quarter.
Invitrogen (IVGN ) posted $0.38 vs. $0.35 fourth quarter EPS (pro forma) on a 6.9% revenue rise. The company says sales to the U.S. pharmaceutical market in the first two months of 2002 were weak. It declined to give updated guidance beyond the first quarter. S&P cut its estimate and price target.
Marvell Technology (MRVL ) posted $0.06 vs. $0.05 fourth quarter EPS (pro forma) on an 81% revenue rise.
Cigna (CI ) says a Justice Dept. investigation into Medicare cost-reporting practices affects a portion of one unit's business for 1990-99, but does not expect it to result in material losses to its consolidated results of operations.
Protein Design (PDLI ) posted a $0.06 fourth quarter loss vs. breakeven results on a 15% revenue decline. It sees a $0.17-$0.26 2002 loss on 10%-15% lower revenue. S&P maintains its hold recommendation.
Merck (MRK ) says preliminary analysis of early human data suggests its HIV-1 gag vaccine candidates for prevention and treatment of HIV-1 elicit specific antiviral cellular immune responses, and were generally well tolerated.
PerkinElmer Inc. (PKI ) cut its first quarter cash EPS (excluding charges) guidance to $0.16- $0.17, and for 2002 to $1.05-$1.10. The company restructured its Optoelectronics unit; the move will result in charges in the first quarter.