Intel Rises on Lehman Upgrade

Interactive Corp. gains on spin-off announcement; Morgan Stanley misses Street expectations; plus more of Tuesday's stocks in the news

Lehman upgrades Intel (INTC ) to overweight from equal-weight.

Interactive Corp. (IACI ) is to separate into two publicly traded companies: Expedia, which will include,, etc., and IAC, which will incl. Interactive Corp.'s Ticketing business. It is expected that Interactive Corp.'s shares are to be reclassified, and Interactive Corp's holders will get Expedia stock.

Morgan Stanley (MWD ) posted $1.09, vs. 92 cents fourth-quarter earnings per share on a 7% revenue rise.

Publishing house Scholastic (SCHL ) and Bloomsbury Publishing announce Harry Potter and the Half-Blood Prince scheduled for release on July 16, 2005 in U.S., Britain, Canada, and Australia. Author J.K. Rowling says she delivered the manuscript to publishers.

Bear Stearns (BSC ) posted $2.61, vs. $2.19 fourth-quarter earnings per share on a 19% revenue rise.

Target (TGT ) reportedly sees December same store sales up 3% to 5%, which is on plan.

LG.Phillips (LPL ) says in the fourth-quarter it had higher-than-expected sequential pricing erosion and the strengthening of the Korean Won also hurt results. The company sees fourth-quarter EBITDA margin close to 20%. It sees continued downward price pressure in the first-half of 2005.

GTech Holdings (GTK ) posted 35 cents, vs. 35 cents third-quarter earnings per share on a 24% revenue rise. It sees 31 cents to 33 cents fourth-quarter earnings per share. The company raises $1.43 to $1.48 fiscal 2005 earnings per share forecast to $1.46 to $1.48, and sees $1.53 to $1.58 fiscal 2006 earnings per share.

Research In Motion (RIMM ) provided an update following a stipulated judgment in InPro II Licensing, S.a.r.l., vs. Research in Motion litigation. The judgement will be entered in Research in Motion's favor, against InPro on all claims in InPro's complaint for patent infringement.

Silicon Storage (SSTI ) cut $120 million to $130 million in fourth-quarter guidance to $102 million to $108 million in revenue, and a 24-cent to 28-cent loss (GAAP). The company expects gross margin of 1% to 3%, vs. a previous estimate of 28% to 32%. It cites lower- than-expected demand across all segments, and decreasing ASPs.

Jabil Circuit (JBL ) posted 27 cents, vs. 20 cents first-quarter earnings per share (GAAP) on a 21% revenue rise. The company sees 22 cents to 24 cents second-quarter earnings per share (GAAP) on revenue of $1.65 billion to $1.75 billion. It maintains its previous fiscal 2005 guidance of $1.05 to $1.09 earnings per share on revenue of $7.2 billion to $7.4 billion.

Arrow International (ARRO ) Posted 31 cents, vs. 33 cents first-quarter earnings per share despite a 9.8% revenue rise.

Syms Corp. (SYM ) posted 13 cents, vs. 7 cents third-quarter earnings per share on 5.1% higher same-store sales, and 2.2% higher total sales. The company says third-quarter results impacted by additional markdowns on goods sold of about $2 million in an effort to clear out aged merchandise.

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