) to long term buy from buy. The shares are lower.
) announced positive results from two clinical studies in moderate-to-severe plaque psoriasis patients. CIBC World upgraded to strong buy from buy.
Thomas Weisel downgraded Seibel (SEBL
), i2 Tech (ITWO
) and Ariba (ARBA
) to buy from strong buy; and downgraded Onyx Software (ONXS
) to hold from buy.
Interwest Home (IWHM
) agreed to be acquired by a unit of Praxair for $42M plus debt assumption.
NYSE reportedly says Oregon Steel (OS
) declined to comment on activity in its stock.
RW Baird upgraded Sprint PCS (PCS
) to strong buy from market outperform.
Thomas Weisel upgraded Micron Tech (MU
) to strong buy from buy.
CS First Boston upgraded Captstone Turbine (CPST
) strong buy from buy.
) and Walmart (WMT
) are reportedly in talks to form a strategic alliance. Goldman Sachs would view a partnership favorably, and reiterated its market outperform rating.
LSI Logic (LSI
) sees $0.03 Q1 EPS on about 30% sequential revenue decline. LSI cited inventory correction and an adverse economic climate. S&P maintains hold.
Prudential cut to hold from strong buy: Amtel (AMTL
), Cree (CREE
), inSilicon (INSN
), Lattice Semi (LSCC
), Microchip (MCHP
, Pericom Semi (PSEM
) Sage (SAGI
) and STMicroelectronics (STM
Prudential cut to hold from accumulate: Alliance Semi (ALSC
) Altera (ALTR
), ARM Holdings (ARMHY
), ATI Tech (ATYT
), LSI Logic (LSI
), NVIDIA (NVDA
) and Omnivision (OVTI
Prudential kept a strong buy on: AXT (AXTI
), EMCORE (EMKR
) Micron (MU
) Texas Instruments (TXN
) and Xilinix (XLNX
Banc of America upgraded Procter & Gamble (PG
) to buy from market perform. P&G cited solid improvement in cash flow and market share metrics. (See Word on the Street )
RF Micro Devices (RFMD
) epanded its alliance with Qualcomm, whereby the Qualcomm division will cooperate on the development of a Wideband CDMA power amplifer module for inclusion with its MSM5200 integrated circuit family.
) posted $0.37 vs. $0.12 Q4 on a 57% revenue rise.
) shares are down after the soft-drink firm announced a new management structure, including the resignation of COO Jack Stahl. Coke says current volume and EPS expectations remain unchanged.
United Parcel (UPS
) agreed to acquire Mail Boxes Etc., a unit of U.S. Office Products. The terms were not disclosed.
Vitesse Semiconductor (VTSS
) cut its $0.26-$0.27 Q2 EPS forecast to $0.21-$0.22, $180M-$190M revenue to $150M-$160M. Vitesse cited continued weakness in communications and data storage.
) sees lower than expected $0.30-$0.34 Q1 EPS (before goodwill) on about $280M revenues. The firm cited soft business conditions.
) sees $0.13-$0.18 Q1 EPS on 6% lower sales, higher raw materials and energy costs.
) sees Q1 results below Q4 2000, and sees 2001 results below 2000. Cymer cited lower consumables business and a reduction of new system shipments.
Morgan Stanley DW downgraded Sapient (SAPE
) to neutral from outperform. On Friday the firm forecast a $0.03-$0.05 Q1 loss on revenues, about 20% below current estimates.
CS First Boston reiterated its strong buy on Juniper (JNPR
), and does not believe Juniper will miss its quarter. Jupiter shares are up.
Lift Group tells Cascade (CAE
) it plans to make a revised acquisition proposal due to complications attributable to environmental litigation brought by Portland, OR.
United Dominion (UDI
) says it in talks concerning a possible acquisition of the company.
) priced a follow-on public offering of 2.83M shares at $19 per share.
) will be added to S&P SmallCap 600 after close of trading on March 5, replacing XIRC, which being acquired by Intel.
Armor Holdings (AH
) will be added to S&P SmallCap 600 after close of trading March 5, replacing Washington Group, which is being removed for lack of representation.