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Get Four
|  | DECEMBER 29, 2003 04:17 PM
 MARKET MOVERS Sharper Image Rises 21st Century rises; XM Satellite advances; plus more of today's stocks in the news Wedbush Morgan raised its estimates and price target on Sharper Image (SHRP ). On Friday the specialty retailer said Dec. 1 through Dec. 24 same-store sales were up 21%, while total company sales were up 30%. Sharper Image raised its fourth-quarter earnings per share guidance to a range of $1.34 to $1.38, and upped the fiscal 2004 guidance to a range of $1.57 to $1.61. CS First Boston downgraded Hormel Foods (HRL ) to neutral from outperform, and removed the stock from its Focus List, saying the Mad Cow scare could affect all protein prices. The broker also downgraded Smithfield Foods (SFD ). 21st Century (TCHC ) raised the $2.50 to $3.00 2004 EPS (GAAP) estimate to $3.25 to $3.75, before dilution. The company also raised the revenue guidance from 20% to 30% growth to 40% to 50% growth for all of 2004 and 2005, citing a surge in growth in its property and general liability operations. Don Hodges, co-manager of the Hodges Fund, believes XM Satellite Radio 's (XMSR ) revenue and subscriber base will soar as other Americans begin to share his own addiction to satellite radio: Barron's. Ireland's Trinity Biotech (TRIB ) received approval from the U.S. Food and Drug Administration to market its Uni-Gold Recombigen HIV test in the U.S. The company noted that Uni-Gold is the first HIV test device to be approved for use with human serum, plasma, and whole blood. IDT Corp. (IDT ), at its current share price, isn't being given much credit on Wall Street for the potential profitability of its many initiatives, or the strong track record of its founder: Barron's. Gen-Probe (GPRO ) received FDA marketing clearance for sexually transmitted disease testing on the company's Tigris DTS System. Pacific Growth reiterated its overweight rating. Digital Angel (DOC ) says its proprietary microchip meat-safety systems are specifically designed to completely fulfill livestock tracking and tracing needs necessary to minimize the human and animal health effects of Mad Cow and other diseases. FootStar (FTS ) trading was suspended. The company says a decision was reached in view of the uncertainty surrounding its previously announced restatement of its 1997-02 results, as well as the delay in the completion of current financial statement filing requirements. Interpool (IPX ) was suspended in view of uncertainty surrounding its previously announced restatement of the 2000-01 results and the continued delay of a 10-K filing. JP Morgan upgraded McDonald's (MCD ) to overweight from underweight, saying the recent decline in the stock on concerns over Mad Cow disease have created a buying opportunity. Tyco (TYC ) says it is pursuing at least $3 billion in cost savings and working capital improvements over the next three years. Manangement will also try to nearly halve the company's debt before considering using its cash for strategic acquisitions, according to the Financial Times. CS First Boston downgraded Hormel Foods (HRL ) to neutral from outperform, amid ongoing concerns about Mad Cow disease. Eli Lilly (LLY ) received FDA approval for its Symbyax depression drug. Lehman Brothers Holdings (LEH ) is reportedly set to take over British hotel group Le Meridien this week in a deal valued at about $1.24 billion. Dyax (DYAX ) says primary endpoints were met in a Phase 1 and Phase 2 clinical study to evaluate the use of recombinant small protein DX-88 in patients undergoing cardiopulmonary bypass in the course of coronary artery bypass graft surgery. A Jacobs Engineering (JEC ) unit, SNC Lavalin of Canada, received a feasibility study for a phosphate project in Saudi Arabia. The terms aren't disclosed, but the overall investment required to develop a phosphate mine and chemical plant complex exceeds $1 billion. EP Medsystems (EPMD ) inked a partnership with Royal Philips to offer electrophysiology lab solutions for the diagnosis and treatment of cardiac rhythm disorders. Separately, the company says it raised $8.2 million through the private sale of 3.2 million shares.  All of the views expressed in this research report accurately reflect the research analyst's personal views regarding any and all of the subject securities or issuers. No part of analyst compensation was, is or will be, directly or indirectly related to the specific recommendations or views expressed in this research report. Standard & Poor's Regulatory Disclosure Any advice, analysis, or recommendations contained in articles labeled "Insight from Standard & Poor's" reflect the views of Standard & Poor's, which operates separately from and independently of BusinessWeek Online. It is possible that BWOL may from time to time publish information that is not consistent with advice, analysis, or recommendations that are published by Standard & Poor's. Standard & Poor's and BusinessWeek Online are each units of The McGraw-Hill Companies, Inc.
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