Markets & Finance

Zebra Technologies Shares Pummeled on Earnings Miss


Zebra Technologies (ZEBRA) posted $0.57 vs. $0.66 Q4 EPS on a lower than expected 12% revenue rise. The company cut its Q1 2001 guidance. Gerard Klauer and S&P downgraded the shares.

Morgan Stanley DW cut its growth forecast for Oracle's (ORCL) database-license revenue due to the dot-com exposure.

QLT (QLTI) posted $0.05 (Can.) Q4 EPS vs. an $0.18 loss on a sharp revenue rise. QLT sees $0.40-$0.50 2001 EPS (pretax).

According to The Wall Street Journal, Dell Computer (DELL) is preparing for "deep expense reductions" that could include its first layoffs, following price cuts amidst an industry slowdown.

Network Appliance (NTAP) posted $0.11 vs. $0.06 Q3 EPS (pro forma) on a 91% revenue rise. S&P maintained its accumulate ranking. USB Piper sees a downside risk.

According to The Wall Street Journal, Lucent Technology (LU) is under investigation by the SEC over possible fraudulent accounting practices; the SEC is focusing on how Lucent booked $679 million in revenue in fiscal 2000.

Lehman downgraded Metricom (MCOM) to market perform from strong buy. On Thursday the company posted a wider than expected Q4 loss.

Hispanic Broadcasting (HSP) posted $0.22 vs. $0.21 Q4 EPS after tax cash flow (AFTC), and $23.7 Q4 EBITDA (10% decline). The media company sees EPS of $0.11-$0.12 Q1 AFTC, and $13 million-$14.5 million EBITDA.

Earthlink (ELNK) updated the terms of its alliance with Sprint. Jefferies upgraded the shares to buy from hold, while S&P ranked the shares as hold.

Lowe's Cos. (LOW) sees $0.37 Q4 EPS on a comparable store sales decrease of "close to middle" of previous guidance of 2%-4%. The seller of business commodities says promotional pricing had negatively impacted its results. S&P maintained its avoid ranking.

Brooktrout (BRKT) posted $0.05 vs. $0.37 Q4 EPS (pro forma) on an 8% decline in revenue from core activities.

Saks Inc. (SKS) posted preliminary $0.78 vs. $0.99 Q4 EPS from operations on slightly lower consolidated same store sales. The company ended its plans to spin off its Saks 5th Avenue operations.

John Hancock Financial (JHF) posted $0.58 vs. $0.44 Q4 EPS, saying it remains comfortable with its previously announced 2001 EPS growth expectations of 10%-12%.

Cigna (CI) posted $1.81 vs. $1.66 Q1 operating EPS (continuing operations).

SL Industries (SL) hired CS First Boston to assist in evaluating alternatives to maximize its shareholder value.

Deere & Co. (DE) is prepared to buy other companies' businesses to become a global diversified industrial company. CS First Boston's John McGinty sees stock at $55 in 12 months.

S&P's Sam Stovall thinks Adobe Systems (ADBE) so-called January barometer is a good indicator of how hot certain sectors will be for the rest of the year. Stoval figures Adobe, IBM, Broadcom and America Online will outperform the market in 2001.

Mercator Software (MCTR) posted a $0.10 Q4 loss vs. $0.06 EPS (pro forma) as higher sales, marketing, and general and administrative costs offset a 26% revenue rise.

Power-One Inc. (PWER) cuts its Q1 forecast to $0.26-$0.27 cash EPS on $172 million-$176 million in revenues, and cut its Q2 forecast to $0.17-$0.19 EPS on $140 million-$150 million in revenues. The company cites a greater than expected inventory buildup at Cisco and other customers. Goldman Sachs downgraded its rating on the shares.

UBS Warburg reportedly removed Nokia (NOK) from its global technology top pick list.

Wit SoundView cut its estimates on Sun Microsystems (SUNW).


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