Boston Scientific Lowers Guidance

Documentum sees lower-than expected sales; Micrel expects loss on weak demand; plus more of today's stocks to watch

Boston Scientific (BSX ) sees 20% higher second quarter net sales (15% excluding foreign exchange benefit). It sees 29 cents to 30 cents second quarter earnings per share (excluding charges).

Siebel Systems (SEBL ) sees lower-than-expected second quarter earnings per share of 2 cents on $330 million to $334 million in revenue.

Micrel (MCRL ) sees a second quarter loss of one cent per share on lower than expected revenues, citing weaker demand for mobile phones, particularly in Asia. S&P reiterates hold.

Documentum (DCTM ) sees $68 million in second quarter revenues, below previous guidance, and earnings per share of one cent. S&P and JP Morgan each downgraded the shares.

Knight Trading (NITE ) sees better than expected second quarter earnings per share (GAAP basis) of 10 cents to 15 cents, including severance costs and the liquidation of Knight Securities Japan.

Terayon (TERN ) sees a narrower-than-expected second quarter loss per share of 18 cents to 20 cents on $30 million to $31 million in revenues, citing higher unit shipments of its DOCSIS 2.0 CMTS product, a large order for its Multigate product, and higher sales of legacy lines.

Vaxgen (VXGN ) says it has every intention of completing its Phase III trial in Thailand, including final analysis, announcing preliminary results as planned in the fourth quarter of 2003. The company says the clinical portion of the trial has already been completed.

Landry's Restaurants (LNY ) sees $300 million in second-quarter revenues; it expects EPS to fall a few cents short of consensus, but believes any shortfall will be made up in the third quarter. It reaffirmed its $1.75 fiscal 2003 EPS guidance. BB&T Capital downgraded the shares.

AG Edwards downgraded Endocardial Solutions (ECSI ) to hold from buy on valuation. The company was unavailable for comment.

A.C. Moore Arts (ACMR ) posted 4% higher second quarter same store sales and 13% higher total sales. The company sees second quarter earnings per share beating the consensus estimate of 4 cents, and maintains its 2003 guidance of 84 cents to 88 cents.

Pediatrix Medical (PDX ) sees better than expected second quarter earnings per share of 82 cents, citing greater than expected revenues.

Adaptec (ADPT ) sees $107 million in first quarter revenues, below the previously projected range of $115 million to $120 million, and bottom-line results in the middle of its previously forecast range. It cites continued economic uncertainty and difficult selling conditions.

Deb Shops (DEBS ) posted 12% lower June same store sales and 7.8% lower total sales.

Tweeter Home Entertainment (TWTR ) posted 10% lower third quarter same store sales and 3% lower total revenue. It sees a third quarter loss of 17 cents per share, at the low end of previous guidance.

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