Markets & Finance

Yahoo! Rises on Takeover Rumors


Shares of Yahoo! (YHOO) are seen higher on rumors that Viacom (VIA) will make an offer for the company. Yahoo! and Viacom were unavailable for comment.

Intel (INTC) posted $0.38 vs. $0.34 Q4 EPS from operations on a 6% revenue rise. The company sees sequentially lower Q1 revenue and gross margin. USB Piper and S&P cut their estimates.

Juniper Networks (JNPR) posted $0.24 vs. $0.01 Q4 EPS (pro forma) a on sharp revenue rise. S&P initiates coverage with hold.

DB Alex Brown upgraded eBay (EBAY) to buy from market perform.

Prudential downgraded Home Depot (HD) to hold from strong buy.

RF Micro (RFMD) posted $0.05 vs. $0.07 Q3 EPS as lower than expected orders offset 9.2% revenue rise. The company sees about a 10% drop in Q4 revenues from Q3 and $0.02-$0.03 EPS.

Epimmune (EPMN) and The Scripps Research Institute reported a new epitope-based vaccine can overcome immune tolerance to chronic hepatitis-B virus in animal model.

Lehman reportedly downgraded Burlington Resources (BR) to neutral from outperform.

Actuate Corp. (ACTU) posted $0.07 vs. $0.03 Q4 EPS (pro forma) on a sharp revenue rise. BB&T Capital upgraded the shares to long term buy from hold.

Rudolph Tech (RTEC) is among the semiconductor equipment stocks that could benefit from Intel's 2001 capital expenditure budget. CIBC World reiterated its strong buy rating.

Handspring (HAND) posted a $0.15 Q3 loss per share vs. a $0.32 loss on a sharp revenue rise.

Vyyo Inc. (VYYO) posted a $0.15 Q4 loss per share vs. a $0.17 loss (pro forma) on a sharp revenue rise. Vyyo expects 2001 revenues to exceed $60M, and to reach breakeven in Q4.

Elantec Semi (ELNT) posted $0.37 vs. $0.13 Q1 EPS on a sharp revenue rise. The company sees $0.38 Q2 EPS on a slight sequential revenue rise and FY 01 EPS of $1.52-$1.58.

Concord Communications (CCRD) says it will report $0.06 Q4 EPS (pro forma) on $26M in revenue.

Applied Micro Circuits (AMCC) posted $0.16 vs. $0.05 Q3 EPS on a 27% sales rise. The company sees Q4 sequential revenue growth in the high-teens. S&P raised its estimates.

Novellus (NVLS) posted $0.76 vs. $0.27 Q4 EPS (pro forma) on a sharp revenue rise. S&P maintains hold.

Teradyne (TER) posted $0.66 vs. $0.42 Q4 EPS on a 44% revenue rise. The company sees $0.30 Q1 EPS on shipments expected to be 20% lower sequentially.

Linear Technology (LLTC) posted $0.34 vs. $0.20 Q2 EPS on a 59% sales rise. Linear expects Q3 sequential sales and profits to grow about 8%-10%. S&P maintains accumulate.

Hutchinson Tech (HTCH) posted $0.03 vs. $0.25 Q1 EPS from operations on a 4% sales decline. The company sees a $0.23-$0.48 Q2 loss per share, excluding severance charges. Hutchinson will further cut its workforce.

Washington Mutual (WM) posted $0.94 vs. $0.80 Q4 EPS on 4% higher net interest income. The company raised its quarterly dividend 3.3%.

Macromedia (MACR) agreed to acquire Allaire (ALLR) in a deal valued at about $360M. Also, Macromedia posted $0.29 vs. $0.15 Q3 EPS. S&P downgraded MACR to hold.

Minnesota Mining & Mfg. (MMM) posted $1.12 vs. $1.10 Q4 EPS on slightly higher sales and 8.5% higher volumes. 3M says EPS were below its expectations due to a strong U.S. dollar and a slowing economy.

WebTrends (WEBT) agreed to be acquired by NetIQ (NTIQ) in a deal valued at about $1B. Terms: 0.480 NTIQ share per WEBT share, which values WebTrends at $36 per share.

Tyco Intl. (TYC) posted $0.57 vs. $0.46 Q1 EPS on a 21% revenue rise.

Ethan Allen (ETH) posted $0.58 vs. $0.59 Q2 EPS as start-up costs from its Dublin, Va., facility offset a 7% sales rise. Going forward, the company sees 3-4% sales growth and EPS close to those of the prior year.

Continental Airlines (CAL) posted $0.61 vs. $0.42 Q4 EPS from operations on a 13% revenue rise.


Steve Ballmer, Power Forward
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