Dell Computer (DELL

) sees lower than expected Q4 EPS of $0.18-$0.19 on $8.5-$8.6 billion in revenues. Dell cites a deterioration in global economic conditions and overall demand for computer systems and services. Robertson Stephens reportedly upgraded its rating on the shares to long term attractive.

A federal judge ruled that Transkaryotic Therapies (TKTX

) infringed all or part of three of Amgen's (AMGN

) patents on AMGN's anti-anemia drug Epogen.

Goldman Sachs adds Target (TGT

) and Sears (S

) to its recommended list. The stock was rated market outperform.

CIBC World upgraded Oxford Health Plans (OXHP

) shares to buy from hold.

Salomon SB upgraded Duke Energy (DUK

) shares to buy from outperform. Salomon SB has a $100 12-month price target.

UBS Warburg downgraded Powerwave Technologies (PWAV

) shares to hold from buy.

Merrill Lynch upgraded Northern Trust (NTRS

) shares to near term accumulate from neutral.

Bear Stearns says Walt Disney (DIS

) stock could be sloppy near term while The Wall Street Journal reports the company's new theme park in California faces a slowing economy, high gas prices and the California power crisis.

Enzon Inc. (ENZN

) says SGP it received FDA approval for PEG-Intron Injection for treatment of chronic hepatitis C. Under a licensing pact, ENZN is entitled to royalties and milestone payments.

Morgan Stanley DW upgraded Federated Stores (FD

) shares to outperform from neutral.

Barron's reports that Fred Hickey of High-Tech Strategist says IBM Corp.'s (IBM

) Q4 results presented its easiest comparions ever. He expects IBM to own up to the fact that it too is feeling the pain

Banc of America upgraded AFLAC Inc. (AFL

) shares to strong buy from buy.

Lyondell (LYO

) sees a $0.40 Q4 loss per share vs. estimates for $0.23 loss. The company says Street estimates do not fully reflect unfavorable impacts of unprecedented increase in natural gas prices and the continued weakening of the U.S. economy.

Quanex Corp (NX

) sees $0.20-$0.25 1Q EPS. Cites slower demand for its automotive, building, construction products, inclement weather.

Key3Media Group (KME

) sees $48-$51 million Q4 EBITDA (adjusted) and $109 to $114 million revenues; $113-$116 million 2001 EBITDA (adjusted) and $325- $335 million revenues.

Anthony Liberati, director of MCSI Inc.'s (MCSI

) Zengine unit, offered to buy all the company's outstanding shares for $22 each.

Oregon Trail Financial (OTFC

) says restructuring charges, investment losses will slash EPS for Q4 by as much as 80%.

Westvaco Corp (W

) sees Q1 30%-35% lower than year ago. The company cites slowing US economy, softening of key markets.

K Swiss Inc (KSWS

) posted better than expected $0.32 vs. $0.44 Q4 EPS on a 22% revenue decline. The company sees $0.60-$0.67 Q1 EPS and $2.00-$2.10 2001 EPS.