Markets & Finance

Guest Supply Inks Merger Pact with Sysco


Guest Supply (GSY) agreed to be acquired by Sysco Corp. (SYY) for a number of Sysco shares equal to $26.

Texas Instruments (TXN) posted $0.31 vs. $0.25 Q4 EPS (pro forma) on a 15% revenue rise. The company expects Q1 revenue to decline about 10% sequentially. S&P downgraded its opinion on the shares to avoid.

Computer Associates (CA) posted $0.42 vs. $0.32 Q3 EPS on a 5.4% revenue rise.

Technitrol Inc. (TNL) posted $0.88 vs. $0.40 Q4 EPS from operations on 27% higher revenues. The company says it sees $3.42 to $3.53 2001 EPS. S&P reiterated its buy rating on the shares.

Merrill Lynch upgraded American Express (AXP) to near term buy from accumulate and placed the stock on its Focus One list. The company posted on Monday $0.50 vs. $0.44 Q4 EPS on a 9% revenue rise.

Actionpoint Inc. (ACTP) announced a new version of its XML-based ActionPoint Dialog Server software product that supports Web server environments running on UNIX.

Cellegy Pharmaceuticals (CLGY) said it intends to file a new drug application with the FDA earlier than expected, to request marketing approval for Anogesic, a drug used to treat pain associated with chronic anal fissures.

Salomon SB downgraded M-Sys Flash Disk (FLSH) shares to outperform from buy. Yesterday the company posted $0.14 Q4 EPS vs. breakeven.

OpenWave Systems (OPWV) posted $0.09 Q2 EPS from operations vs. a $0.05 per share loss on sharply higher revenues. The company sees quarterly revenues for calendar 2001 growing 10%-20% sequentially. Robertson Stephens and Goldman Sachs raised their estimates.

Pivotal Corp. (PVTL) posted $0.03 Q2 EPS from operations vs. a $0.01 per share loss on sharply higher revenues. BMO Nesbitt placed its estimates under review and reiterated its market perform rating on the Pivotal shares.

FreeMarkets (FMKT) posted a $0.27 Q4 loss from operations vs. a $0.41 loss on a sharp revenue rise. Goldman Sachs reportedly downgraded its rating on the shares.

EMC Corp. (EMC) posted $0.25 vs. $0.17 Q4 EPS on 40% revenue rise.

Praxair (PX) posted $0.76 vs. $0.70 Q4 EPS on a 5.8% sales rise. The company sees $0.73-$0.77 Q1 EPS and 10% 2001 EPS growth, given the expected "soft landing" in the U.S. economy.

Merrill Lynch (MER) reportedly posted $0.93 Q4 EPS.

Merck & Co. (MRK) posted $0.75 vs. $0.66 Q$ EPS on 27% sales rise. S&P maintained its hold rating, noting that quarterly growth was the weakest among the past six quarters. Merrill Lynch downgraded the stock.

Silicon Labs (SLAB) posted $0.13 vs. $0.12 Q4 EPS from operations on 61% revenue rise. The company says deteriorating demand creates uncertainty for 2001. Morgan Stanley Dean Witter reiterated its outperform rating.

Tellabs (TLAB) posted $0.56 vs. $0.39 Q4 EPS on 42% sales rise. S&P maintained its share rating of accumulate.

Conseco (CNC) says it remains well ahead of schedule on asset sales/debt reduction. The company says with 11 months to go, it's 85% of the way towards raising cash to retire $2 billion in debt.

Bear Stearns upgraded IMS Health(RX) to buy from attractive. The company has a $32 12-month target.

Lehman Brothers upgraded PacifiCare Health Systems (PHSY) to buy from market perform. Separately, the company named Gregory Scott as EVP and CFO.

GATX(GMT) posted $0.42 vs. $0.52 Q4 EPS from continuing operations, but doesn't expect to meet its 12%-15% 2001 EPS growth goal.

DoubleClick (DCLK) announces that the Federal Trade Commission has closed its inquiry into the company's ad serving and data collection practices.

Merrill Lynch upgraded Abercrombie & Fitch (ANF) to buy from accumulate. Dain Rauscher initiated coverage of the stock with a buy rating.

First Boston downgraded Ann Taylor(ANN) to hold from buy.

American Superconductor (AMSC) posted a Q3 $0.20 loss vs. a $0.19 loss as higher R&D costs offset its 12% revenue rise.

Alliance Bancorp (ABCL) agreed to be acquired by Charter One Financial (CF)for $5.25 cash, and 0.72 Charter One share per Alliance share.

Centennial Technology (CENL)

agreed to be acquired by Solectron (SLR) in a deal worth about $108 million.

D.R. Horton (DHI) raised its quarterly dividend 25%.

Openwave Systems (OPWV) posted $0.09 Q2 EPS from operations vs. an $0.05 loss, led by a sharp revenue rise. The company sees quarterly revenues for calendar 2001 growing 10%-20% sequentially. Robertson Stephens and Goldman Sachs raised their estimates.

Viad Corp. (VVI) sees lower than consensus $0.36 Q4 EPS on 7% revenue rise, cites weakness in convention and event services segment.

USB Piper downgraded its rating on InfoSpace (INSP) to neutral from buy. Yesterday, the company renamed Naveen Jain as CEO; and named Ed Belsheim as COO and Tammy Halstead as CFO.

3D Systems (TDSC) says Q4 revenue will be only about 10% higher than the year-ago level. The company cites unanticipated slowdown in certain European biz sectors, including. automotive, household appliances, timing of certain machine sales.

Coca-Cola Enterprises (CCE) posted $0.04 Q4 EPS (including nonrecurring reduction in income tax expense of $0.03) vs. $0.04 loss on slight revenue rise. The company sees 15%-22% EPS growth in 2001.

SAP AG (SAP) posted EUR 1.16 vs. EUR 1.01 Q4 EPS on a 31% revenue rise. The company sees revenue growth in the 2001 first half slightly exceeding the 2000 rate.

Dynegy (DYN) posted $0.32 vs. $0.19 Q4 EPS on a 91% revenue rise.

Apache (APA) agreed to buy REPSOL YPF's oil and gas concession interests in Egypt for US$410M.

American General (AGC) posted $1.32 vs. $1.17 Q4 EPS from operations on a 4.7% revenue rise. The company raised its dividend 9%, and set a 2-for-1 split.

Vitesse Semiconductor (VTSS) posted $0.25 vs. $0.11 Q1 EPS (pro forma) on 85% revenue rise. S&P upgraded its rating on the shares to buy from hold.


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