DB Alex Brown downgraded Univision Communication (UVN
) to buy from strong buy.
Prudential says high valuation of BEA Systems (BEAS
) shares pose risk due to slowing software IT spending. The firm cuts its $100 price target on the stock to $85.
Roche AG, DNA to co-develop, market OSI Pharmaceuticals' (OSIP
) OSI-744 experimental cancer treatment. Lehman says terms better than expected and believes the company's shares are down with its sector.
Applied Films (AFCO
) reportedly sees lower than expected Q2 revenues, EPS in line with estimates.
Robinson Humphrey reportedly downgraded Check Point Software (CHKP
) shares to outperform from buy.
DB Alex Brown expects further weakness at Yahoo Inc (YHOO
) following Q4 results and thinks co. will focus on outlook for 2001 and could see new lows and disappointment which could put pressure on other Internet issues.
Tripos Inc (TRPS
) sees $0.43-$0.50 Q4 EPS on about $12 million in revenues, cites strong performance on all fronts. Sets 2-for-1 stock split.
New Era of Networks (NEON
) Sees $0.35 4Q loss on revenues of about $40M. Cites postponed, deferred purchases. To record 4Q restructuring charge... Bear Stearns downgrades to neutral from buy.
Fairchild Semiconductor (FCS
) sees Q1 sales about 5%-8% below the expected Q4 range of $468M-470M. The company continues to sees short term inventory correction, expects revenues to rebound slowly in Q2.
) named co-founder Michael Hagen as president and CEO, replacing Joseph Galli, who will become the new head of Newell Rubbermaid (NWL
New York Times (NYT
) will cut 17% of the workforce at its Internet unit.
Josephthal downgraded ADC Telecommunications (ADCT
) shares to buy from strong buy, cuts $45 12-month target to $28.
Global Crossing Ltd. (GX
) sees about $2-$2.1 billion 2001 earnings before interest, taxes, depreciation and amortization (adjusted) and $7.1 billion to $7.2 billion cash revenue from operationss (35%-40% EBITDA, 30% revenue growth). The company and Computer Sciences announced a contract worth $150 million in revenue to GX.
Salton Inc. (SFP
) expects Q2 sales to be about 10%-12% the below the year ago's $292.8 million.
Barron's reported that it seems investors have embraced the notion that with any number of customers at Cisco Systems (CSCO
)seriously ailing, prospects for CSCO are likely dimming.
Alcoa Inc. (AA
) posted $0.45 vs. $0.44 Q4 EPS on a 54% revenue rise.
AMR Corp.'s (AMR
) American Airlines unit is close to deal to acquire Trans World Airlines (TWA
) and agreed to purchase significant assets from US Airways (U
), according to a Wall Street Journal report.
) sees Q4 revenue up about 27% over last year, better than expected. It also sees operating income, before charges for employee stock appreciation rights program, up more than 40%. ABN Amro reportedly upgraded its rating on SAP shares.
Bear Stearns reportedly cut estimates on Dell Computer (DELL
New Era of Networks (NEON
) sees a $0.35 Q4 loss per share on revenues of about $40M. The company cites postponed and deferred purchases by customers. NEON will record a Q4 restructuring charge.
Hispanic Broadcasting (HSP
) sees lower than expected Q4 revenues of about $60M and $24.5M-$25M broadcast cash flow. The company notes an increase in promotion and marketing expense, as well as operating losses from its Internet division.
Grupo Iusacell (CEL
) says Grupo Peralta, one of its principal holders, and other individuals have agreed to sell their 34.5% equity stake in the company to Vodafone (VOD
) for $973M.
Robertson Stephens downgraded its rating on shares of Tricon Global (YUM
) to long term attractive from buy. On Jan. 6, the company posted 6% lower Dec. total U.S. blended same store sales.
) sees 25%-30% 2001 EPS growth due to high energy prices, as well as its hedge position on oil and gas production.
) will utilize Incyte's (INCY
) gene sequence databases and gene patent portfolio for microarrays commercialization.
) announced positive Phase I and II results in evaluation of NBI-34060 for insomnia in about 500 patients.
) agreed to acquire a majority stake in Internet Auction Co. Ltd., Korea's largest auction-style Web site.
Krispy Kreme (KREM
) filed to offer 2 million shares.