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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.
) 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.