Markets & Finance

CNET Cuts Revenue Forecast


CNET Networks (CNET) posted $0.09 Q4 EPS vs. a $0.21 loss (pro forma) on a 30% revenue rise. The company cut its 2001 revenue guidance by 17%-20% to $450 million-$480 million. Goldman Sachs cut its estimates.

PacifiCare Health (PHSY) posted $0.52 vs. $1.59 Q4 EPS from operations as rising health care costs offset a 15% revenue rise. Lehman Brothers raised the stock's target price and reiterated its buy rating on the shares. S&P maintained its hold recommendation.

Boston Scientific (BSX) posted $0.22 vs. $0.26 Q4 EPS from operations on an 11% revenue decline. The company says disappointing sales were due to issues related to coronary stent and balloon pipeline.

MicroStrategy (MSTR) posted $0.31 Q4 loss on a 26% revenue rise. The company says overall revenue growth for its consolidated business will significantly depend on the extent of market acceptance of its technology. First Albany downgraded its rating on the shares.

Cisco Systems (CSCO) posted $0.18 vs. $0.12 Q2 EPS (pro forma) on a 55% sales rise. Robertson Stephens and CS First Boston downgraded its rating on the shares, while Lehman Brothers reportedly did the same. S&P also cut its recommendation.

Boston Communications (BCGI) posted $0.13 Q4 EPS (pro forma) on 13% net revenue rise. The company does not expect Rogers AT&T to renew its contract; it may migrate off the company's platform as early as Q1 2001. The company sees $0.50-$0.52 2001 EPS.

DaimlerChrysler (DCX) posted 2000 EPS from operations of 3.47 euros vs. 6.21 euros as second-half losses in its North American market offset a 12% rise in revenues (on a comparable basis).

Korn/Ferry (KFY) sees lower than expected $0.16-$0.18 Q3 EPS and $0.82-$0.84 fiscal 2001 EPS on lower than expected $650 million in revenue. The executive placement and consulting firm cited a rapid economic slowdown in North America.

Rent-A-Center (RCII) posted $0.67 vs. $0.52 Q4 EPS on 9.2% higher same store revenue and an 11% total revenue rise.

Prudential and SG Cowen cut their estimates on Sun Microsystems (SUNW). On Tuesday the company held an analyst meeting; S&P maintained its accumulate recommendation.

Jones Apparel Group (JNY) posted $0.52 vs. $0.40 Q4 EPS from operations on a 13% revenue rise. The company said it is comfortable with its previously stated $2.93-$3.00 2001 EPS estimate.

Arnold & Bleichroeder initiated coverage of Barr Labs (BRL) with sell.

Serena Software (SRNA) says its eChange Man solution supports all Hewlett-Packard's server platforms running MPE/iX for HP e3000, HP-UX, Linux, Windows NT or Windows 2000. The company plans to support Hewlett-Packard's next-generation servers and workstations.


Steve Ballmer, Power Forward
LIMITED-TIME OFFER SUBSCRIBE NOW

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus