Take-Two Interactive Drops

Nucor falls; Pharmacyclics climbs; plus more of today's stocks in the news

Take-Two Interactive (TTWO ) completed the acquisition of TDK Mediactive Inc. The company notes the terms were modified to reflect the termination of TDK's videogame publishing rights for future versions of DreamWorks's Shrek. Southwest Securities downgraded the shares to neutral.

Nucor (NUE ) and U.S. Steel (X ) said dropping tariffs on imported steel could hurt the domestic industry and weaken trade policy, according to The Wall Street Journal . Separately, McDonald Investments downgraded Nucor to hold.

The FDA granted fast-track designation to Pharmacyclics 's (PCYC ) its investigational drug, Xcytrin Injection, for the treatment of brain metastases. Pacific Growth says it's positive on the stock.

3Com (COMS ) signed an agreement in which EDS will include 3Com's broad portfolio of switches, routers, and voice-over-Internet protocol enterprise networking products into its solutions.

McData (MCDTA ) posted a 44 cents third-quarter loss, vs. 2 cents earnings per share (GAAP) despite a 17% revenue rise. The data-storage maker sees $108 million to $116 million fourth-quarter revenue, and breakeven to 1 cent earnings per share (non-GAAP); GAAP earnings per share are expected to be about 8 cents lower than the non-GAAP estimate. S&P keeps its avoid opinion.

Video-rental company Hollywood Entertainment (HLYW ) says based on below-plan rental comparisons and unfavorable year-over-year comparisons of home-video new releases scheduled for the first quarter, it now sees 38 cents to 40 cents fourth-quarter earnings per share, and 33 cents to 37 cents first-quarter 2004 earnings per share.

Bike and sporting-goods maker Huffy (HUF ) sees an 8 cents to 10 cents fourth-quarter loss from continuing operations on $120 million to $125 million in sales. Huffy cited lagging November sales and below-plan fourth-quarter orders. Huffy will also sell its Volant ski business. USB Piper downgraded to market perform.

Movado (MOV ) posted 80 cents, vs. 73 cents third-quarter earnings per share on 19% higher same-store sales at Movado boutiques, and 11% higher net sales. Movado raised the fiscal 2004 earnings per share guidance to $1.78 to $1.81.

Online discount retailer Overstock.com (OSTK ) posted an 156% rise in business-to-consumer gross merchandise sales (non-GAAP) over the Thanksgiving holiday weekend. WR Hambrecht reiterates buy.

Network Associates (NET ) sees 67 cents to 72 cents 2004 earnings per share on revenue of $975 million to $1.01 billion, according to an SEC filing. Janney Montgomery upgraded to buy from hold.

Sanders Morris upgraded Lone Star Technologies (LSS ) to hold from underperform.

Republic Bancshares (REPB ) agreed to be acquired by BB&T (BBT ) for $436 million. The terms are 0.81 BB&T share or $31.79 cash per Republic share.

SFBC (SFCC ), a provider of drug-development services, sees better-than-expected $1.48 to $1.57 2004 earnings per share on revenue of about $127 million to $133 million.

Viacom (VIA ) is close to a decision to divest its roughly 82% stake in video-rental giant Blockbuster, and is most likely selling to a group of private-equity firms, according to The Wall Street Journal . S&P reiterates hold.

Coastal Bancorp (CBSA ) agreed to be acquired by Hibernia for $41.50 per share.

Dynacq Healthcare (DYII ) postponed the release of financial statements for fiscal 2003 and delayed the 10-K until the SEC completes a review. Dynacq says fiscal 2003 net income rose 40%, to $21 million, on a 39% net revenue rise (subject to change).

PepsiCo (PEP ) will cut 750 jobs in a restructuring, streamline operations, and reflect an option expense in its 2003 financial statements. PepsiCo sees 6 cents in fourth-quarter costs, more than offset by 7 cents to 8 cents in benefits from a favorable tax settlement that's related to audits of the company's domestic business. The world's No. 2 soft-drink maker sees $2.00 to $2.01 2003 earnings per share and $2.24 to $2.28 in 2004.

Inter Parfums (IPAR ) raised the 2003 sales estimate to $182 million, and the earnings per share estimate to 67 cents. The comany sees 2004 sales of about $206 million, and net income of about $15 million, assuming the dollar remains at current levels.

Applebee's (APPB ) posted 6.5% higher November same-company restaurant sales, excluding acquired restaurants. Applebee's says comparisons were negatively impacted due to Halloween falling on a Friday this year. The company reaffirmed the $1.73 to $1.75 2003 earnings per share guidance, which excludes a 10 cents charge.

May Department Stores (MAY ) posted 1.7% lower November same-store sales, and essentially flat total sales.

The FDA granted fast-track designation for Telik 's (TELK ) Telcyta (TLK286), a third-line therapy for locally advanced or metastatic non-small cell lung cancer.

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