Markets & Finance

Celera Shares Riding the Genomics Wave


Celera Genomics (CRA) scientists published an assembly of human genome and their initial interpretation of sequence. The Wall Street Journal reported that the company's gene map appears to be superior to the Human Genome Project's version.

S&P downgraded Emulex (EMLX), saying the company warned of flat sequential revenue growth in Q3. USB Piper downgraded Emulex and Qlogic to neutral.

Schlumberger Ltd. (SLB) offers to acquire Sema plc (SEMA) for $16.18 per ADR cash, in a deal valued at $5.2 billion. CIBC World reiterated its buy rating on the company's shares.

DB Alex Brown says although it expects CIENA Corp. (CIEN)to meet and exceed Q1 estimates, it is cautious about expectations for its core long haul transport business.

Critical Path (CPTH) says chairman David Hayden assumes management duties, while CEO Doug Hickey steps down. The search for a CEO replacement is underway. The company named Diana Whitehead as president and Lisa Gansky as executive director.

Morgan Keegan downgraded Finisar Corp. (FNSR)to market perform from outperform.

JP Morgan cut its $125 price target on Brocade Communication Systems (BRCD)shares to $85.

CS First Boston upgraded Pogo Producing (PPP) shares to buy from hold.

UBS Warburg downgraded Nortek Inc. (NTK) shares to buy from strong buy.

The Wall Street Journal reports that EBAY (EBAY) entered talks to buy France's iBazar for about $92 million in stock, making it the online-auction leader in Europe.

Merrill Lynch says it remains comfortable with Amazon.com's (AMAZ) cash and liquidity position, and rated the company a near term accumulate and long term buy. CS First Boston says the company's current cash position is more than adequate.

DB Alex Brown downgraded Sycamore Networks (SCMR) shares to buy given concerns about the immediate outlook for the company based on macro and company-specific issues.

Scana Corp. (SCG) posted $0.61 vs. $0.30 Q4 EPS from operations on a 22% revenue rise. The company sees $0.65-$0.75 Q1 EPS from continuing operations and $2.15-$2.25 2001 EPS.

RightCHOICE Managed Care (RIT) posted $0.64 vs. $0.28 Q4 EPS on 17% total premium revenues. The company sees $0.60-$0.64 Q1 EPS (basic).

Monsanto Co. (MON) posted a $0.22 per share Q4 loss vs. a $0.36 per share loss (pro forma) on a 7% sale rise. The company expects sales growth in 2001 in line with 2000 levels.

Rainbow Technologies (RNBO) sees $0.10-$0.14 Q4 EPS vs. $0.18 consensus. The company cites lower sales of secure software distribution products, Internet performance enhancement solutions and forex. Janney Montgomery cut its estimates.

Goldman Sachs added Cigna Corp.(CI) to its recommended list, and rated the company as a trading buy.

CS First Boston sees PurchasePro (PPRO) posting solid Q4 results after the market closes Monday, and reiterated its strong buy.

CEO Beryl Raff stepped down from Zale Corp. (ZLC) and Tucker Anthony tied the company's weakness to Ms. Raff's departure. Robertson Stephens downgraded its rating on the shares to long term attractive from buy.

Banc of America tied Visx's (VISX) stock price rise to speculation that Q1 procedures may be stronger than some expect. The BOA analyst said he is confident in his 5% Q1 procedure growth estimate and ranked the company's shares as market perform.


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