http://www.businessweek.com/stories/2003-10-01/netflix-soars

Markets & Finance

Netflix Soars


Netflix (NFLX

) says it ended the third quarter with about 1.29 million total subscribers. Subscribers grew 74% over a year ago, and 13% sequentially. USB Piper raised its target.

Panera Bread (PNRA

) reaffirmed the 23 cents third-quarter earnings per share guidance.

SG Cowen believes uncertainty regarding a potential shift in Synopsys' (SNPS

) license model may keep the stock in check in the near term.

In a SEC document, jewelry retailer Friedman's (FRM

) says it was notified by the Department of Justice that an investigation was being conducted relating to allegations asserted in the Capital Factors lawsuit. Also, Friedman's board has initiated an internal investigation.

First Albany upgraded Packeteer (PKTR

) to buy from neutralf, citing solid end-of-the-quarter demand for products from this provider of application traffic management systems.

Citigroup upgraded Parker-Hannifin (PH

), a maker of motion and control technologies, to hold from sell.

Lehman upgraded Comverse Technology (CMVT

) to overweight from equal-weight.

NetIQ (NTIQ

) sees $60 million to $63 million first-quarter revenues, vs. the $68 million to $72 million previous guidance. CS First Boston downgraded to underperform from outperform.

Roth Capital initiated coverage on Mobility Electronics (MOBE

) with buy, and an $11 12-month target.

Banc of America downgraded Office Depot (ODP

) and Staples (SPLS

) to neutral from buy. The Staples downgrade is based on valuation.

Walgreen (WAG

) posted 13% higher September same-store sales, and 18% higher total sales.

Consulting firm Charles River Associates (CRAI

) posted 34 cents, vs. 28 cents, third-quarter earnings per share on an 18% revenue rise.

Intuit (INTU

) reaffirmed the first-quarter and fiscal 2004 results: It sees a 29 cents to 33 cents first-quarter loss (GAAP) on revenue of $225 million to $235 million, and $1.47 to $1.57 fiscal 2004 earnings per share (GAAP) on revenue of $1.85 billion to $1.95 billion.

UTStarcom (UTSI

) raised the third-quarter guidance to 44 cents to 45 cents earnings per share (GAAP) on $570 million to $580 million revenue. It upped the 2003 estimates to to $1.59 to $1.60 earnings per share (GAAP) on $1.93 billion to $1.94 billion revenue. CIBC World upped its estimates. Deutsche Bank upgraded to hold from sell. S&P reiterated its accumulate ranking.

KVH Industries (KVHI

) sees third-quarter net of breakeven to a modest loss. Needham reiterated its buy rating and cut its estimates. CS First Boston downgraded to underperform from outperform.

AirTran (AAI

) posted a preliminary 38% increase in September revenue passenger miles, 26% higher available seat miles, a 5.4% higher load factor, and 31% more passengers enplaned. AirTran also posted 34% higher revenue passenger miles in the third quarter.

Select Comfort (SCSS

) posted 32% higher third-quarter same store sales, and 38% higher net sales. As a result, it raised the third-quarter earnings per share guidance to 17 cents to 18 cents.

Forest Labs (FRX

) says it has discontinued development of dexloxiglumide for treatment of constipation predominant irritable bowel syndrome in the U.S. Forest says Phase III studies were not statistically significant from the placebo group.

Digi International (DGII

) sees better-than-expected 7 cents to 8 cents fourth-quarter earnings per share on revenue of $26 million to $26.2 million.

Paychex (PAYX

) raised its 11-cent quarterly dividend to 12 cents.


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