Markets & Finance

Guidant Shares Slip after Negative Earnings Forecast


Guidant (GDT) sees Q4 revenues coming in below analysts' expectations, with an impact on EPS of $0.02-$0.03 per share.

Lehman cut its 2001 estimate and reiterated its neutral rating on Minnesota Mining & Manufacturing (MMM).

Brooktrout (BRKT) sees lower than expected $0.03-$0.05 Q4 EPS on $33M-$33.5M in revenues. The company cites a slowdown in the telecom market.

CV Therapeutics (CVTX) says it plans to enroll 186 more patients in Phase III Ranolazine trials. SG Cowen says this is a six-month delay, but sees no fundamental consequence to the trial.

A California judge rules key part of technology used by Applera Corp-Applied Biosystems ( ABI) and Applera Corp-Celera Genomics (CRA) to sequence human genome infringes NYCOMED AMERSHAM's patent.

PC-Tel Inc. (PCTI) forecast a $0.07-$0.10 per share Q4 loss (pro forma) on $16.5 to $17.5 million in revenues as a result of rapid deterioration in PC demand.

Keynote (KEYN) sees lower than expected $13M-$13.2M Q1 revenues, but expects to meet $0.11 First Call EPS consensus.

Merrill Lynch downgraded Biogen Inc. (BGEN) to near, long term accumulate from buy.

According to Dataquest, Nokia (NOK) extended its global market share lead in Q3 to above 30%.

Nordstrom, Inc. (JWN) sees $0.18-$0.23 Q4 EPS vs. the consensus of $0.38 due to weak sales and increased markdown activity. The company also posted a 2.9% December same store sales decline and a 5.6% total sales rise.

Morgan Stanley DW downgraded Capital One (COF) shares to neutral.

PPL Corp. (PPL) says that even if it is unable to collect the amount it is owed for energy sales to California, it still expects to exceed Wall Street's $3.03 2000 EPS consensus estimate.

99 Cents Only (NDN) posted slightly lower Q4 same-store sales. The company plans to grow EPS at 20% per year and grow its store base by 25% in 2001.

Next Level (NXTV) sees a $0.22 Q4 loss per share on $31 million in revenues. The company cites reduced revenue from Qwest and slower than anticipated customer development in Korea.

Bausch & Lomb (BOL) sees $0.69-$0.71 Q4 EPS from operations on about $460M in revenues. Sales were modestly lower than expected due to a weaker U.S. refractive surgery business.

Backweb Tech (BWEB) sees a $0.11-$0.14 Q4 loss per share on $7.1M-$7.4M in revenue. Backweb cites a recent slowdown in IT-related spending among Global 2000 companies.

MONY Group (MNY) sees up to $0.10 shortfall from $0.51 Q4 EPS plan due to the decline in equity markets. MONY sees operating EPS reduced by an additional $0.30-$0.35 due to mark-to-market losses in its equity partnership venture capital portfolio.

Copper Mountain (CMTN) sees $46M-$49M Q4 revenue, and notes an adverse impact from continuing weakness in its competitive local exchange carrier customer base -- and its decision not to recognize as revenue $8M of equipment shipped in Q4.

eBenX (EBNX) is comfortable with Q4 consensus revenue and EPS estimates. But the company sees results in the 2001 first half impacted by a lower enrollment commitment number.

Starbucks (SBUX) posted 8% higher December comparable-store sales and 24% higher consolidated net revenues.

American Tower (AMT) sees lower than expected $56M-$60M Q4 EBITDA (earnings before interest, taxes, depreciation and amortization) due to a one-time reserve for bad debt of up to $7M. The company sees better than expected $226M-$233M Q4 revenues.

Autonomy (AUTN) says it has not seen a slowdown in overall revenue growth in Q4 of 2000, and has seen strong growth from Q3.


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