Markets & Finance

Brokerages Pile On Siebel Systems


DB Alex Brown, Goldman Sachs, CS First Boston, Robertston Stephens, Morgan Stanley DW and Banc of America downgraded Siebel Systems (SEBL).

Lattice Semiconductor (LSCC) sees Q1 revenues at about 20% below Q4 revenues. Lattice cites a decline in programmable logic device (PLD) consumption. CS First Boston maintains its buy rating and cut estimates.

BMO Nesbitt lowered its estimates and price target on JDS Uniphase (JDSU). (See Word on the Street )

Goldman Sachs removed Ariba (ARBA) Actuate (ACTU), Commerce One (CMRC), i2 Technologies (ITWO) and MatrixOne (MONE) to market perform from recommended.

Oracle (ORCL) sees $0.10 Q3 EPS on lower than expected 6% license revenue growth. The software giant adds that database revenue growth is estimated to be flat to slightly negative. Goldman, J.P. Morgan downgrade, while CIBC World and S&P cut estimates. (See Stock Picks & Pans and Word on the Street )

Sapient (SAPE) expects a $0.03-$0.05 Q1 loss and expects revenues to fall short of current estimates by about 20%. Sapient set restructuring, including a workforce reduction. S&P maintains avoid.

Based on recent, projected order rates, Integrated Device (IDTI) sees about 20% Q4 sequential revenue decline, and lower than expected Q4 EPS. Gruntal and S&P maintain buy.

CIBC World puts Acxiom's (AXCM) strong buy rating under review.

Photomedex (PHMD) recieved FDA approval to market XTRAC laser system to treat vitiligo and skin disease.

Morgan Stanley DW downgraded BEA Systems (BEAS) as well WebMethods, Veritas, i2 Technologies, E.piphany and Informatica to neutral from outperform.

Xerox (XRX) is close to selling half of its 50% stake in Fuji Xerox for about $1.5 billion to Fuji Photo, its Japanese partner, according to The Wall Street Journal.

Morgan Stanley downgraded Click Commerce (CKCM) to neutral from outperform. (See Word on the Street )

Pacificare Health (PHSY) is recovering following Thurday's sharp decline on news that the California Dept. of Managed Care issued a Cease & Desist order. S&P maintains hold.

Sanmina (SANM) sees $0.34-$0.35 Q2 EPS, $1.37-$1.42 FY 01 (Sep.) on lower than expected revenues. S&P maintains its buy ranking.

SBC Communications (SBC) says Q1 net may fall short of Street estimates because of costs to upgrade service in its Ameritech unit. Legg Mason downgraded to market perform, while CIBC World cuts its estimate.

Sabre Holdings (TSG) reiterated Q1 expectations of $0.62-$0.64 EPS from operations on revenue growth greater than 15%.

Advanced Energy (AEIS) sees $73M-$76M Q1 revenues vs. prior guidance of $83M-$86M. The company cites greater weakness in order patterns, including substantial cancellations and push-outs from major OEM customers.

USB Piper says continuing negative trends in media are likely to push 2001 consensus estimates for DoubleClick (DCLK) down. The firm maintains its neutral rating on the shares.

Gap Inc. (GPS) posted $0.31 vs. $0.47 Q4 EPS on a 6% same store sales decline. The retailer says if current negative trends continue, Q1 EPS could be in range of $0.10-$0.15. Morgan Stanley DW downgraded, while S&P and USB Piper cut their estimates. (See Stock Picks & Pans )

Yahoo! (YHOO) set a shareholder rights plan.

Millipore Corp. (MIL) says Q1 revenues will be less than expected due to a downturn in the microelectronics industry. Revenues in the microelectronics business segment will be 15%-25% lower than those revenues in Q4 of $101M.

Consolidated Stores (CNS) sees $0.03-$0.05 Q1 EPS on comparable-store sales growth in the low to mid single digit range. The company sees $0.80-$0.90 fiscal 2002 EPS from continuing operations.

Starbucks (SBUX) posted 6% higher February same-store sales and 24% higher total sales.

Wind River (WIND) posted $0.19 vs. $0.06 Q4 EPS from operations on 43% higher revenue. The company sees $0.68-$0.70 fiscal 2002 EPS from operations. (See Word on the Street )

Inet Technologies (INTI) sees Q1 revenue of $30M-$33M vs. its previous estimate of $46.5M-$49M.Inet cites a significant decrease in demand for its Spectra diagnostic products and delays on some of its GeoProbe and IT:seven implementations.

360 Networks (TSIX) posted $10M Q4 EBITDA vs. $29M as further investments in product development and its global sales force offset a 61% cash revenue rise. The company cut its 2001 cash revenue estimate to $2.4B-$2.6B.

The FDA cancelled its March 15 review of the application for Orphan Medical's (ORPH) Xyrem oral solution.

Headwaters (HDWR) sees $0.18-$0.19 Q2 EPS, at least 30% fiscal 2002 growth.


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