) sees a $0.14-$0.16 Q1 loss (pro forma) on $85M-$90M revenues, citing customers' delayed purchases. Broadvision will reduce its workforce by about 15%. The firm revised downward 4Q and 2000 results. Goldman cut estimates, JP Morgan downgraded and S&P maintains hold.
Best Buy (BBY
) posted $0.89 vs. $0.78 Q4 EPS on 27% higher sales and expects same store sales to increase modestly in the coming fiscal year. Best Buy sees annual EPS growth of about 16%-18%, resulting in $2.15-$2.20 fiscal 2002 EPS. DB Alex Brown upgraded to buy from market perform.
) sees a $0.20 Q2 loss from operations on about $90M revenues. Robertson Stephens and Banc of America downgrade. Wit SoundView upgrades to strong buy from hold. The software firm will cut about 1/3 of its workforce, and ended a pact to buy Agile Software (AGL
Wachovia upgraded Dollar General (DG
) to strong buy from buy.
UBS Warburg reportedly downgraded XO Communciation (XOXO
) to hold from strong buy.
DB Alex. Brown reportedly cut the price targets for Global Crossing (GX
), Tycom (TCM
) and Level 3 Communications (LVLT
CS First Boston downgraded Sherwin-Williams (SHW
) to hold from buy.
Tucker Anthony downgraded American Tower (AMT
) to buy from strong buy.
Concord Communications (CCRD
) sees a $0.18-$0.20 Q1 loss (pro forma) on $20M-$21M revenue, citing recent delays due to the widespread economic slowdown.
Flir Systems (FLIR
) sees Q1 EPS exceeding Q4 2000 and sees $0.85-$0.95 2000 EPS on $210M revenue. Although the firm restated its 1998 and 1999 results, reclassifications will have no impact on EPS.
Merrill downgraded SAP AG (SAP
) to near-term accumulate from buy.
Redback Networks RBAK
sees a $0.15 Q1 loss (pro forma, excluding charges) on revenues of $85M-$90M. The firm will lay off about 12% of its workforce and take restructuring charges in Q1 and Q2.
Inktomi Corp. (INKT
) sees a $0.23-$0.25 Q2 loss (pro forma) on revenue of $36M-$38M and plans to reduce its workforce by about 25% through a combination of attrition and management action. Merrill downgraded and Goldman cut estimates.
Zoll Medical (ZOLL
) sees $25M-$26M Q2 revenues, about flat with year-ago results. Zoll says EPS will fall "substantially" below the consensus of $0.30, and says the North American order rate was significantly lower than expected.
) expects Q1 revenue of $43M-$46M, and license revenue of $19M-$21M. The firm will report a loss, citing delays and cancellations of customer orders that had been projected to close prior to 3/31.
) sees a Q1loss from operations of up to $0.40 on about $38M revenues. The form cited longer sales cycles caused by economic uncertainty in North American markets. Earlier it was incorrectly reported the company sees $0.40 EPS from operations.
) says Q1 revenue will be 10%-12% below prior guidance of $42M-$44M, citing falling capacity utilization rates of semiconductor customers.
Xerox Corp. (XRX
) will delay filing its 2000 10-K report due to an internal review that started last week of its accounting policies and procedures.
Entrust Technology (ENTU
) sees a $0.32-$0.34 Q1 loss from operations on revenues of $31M-$32M, citing a significant reduction in expected software license sales. Goldman reportedly downgraded to market perform. Pacific Crest downgraded to market perform.
Lift Group plans to revise acquisition proposal for Cascade Corp. (CAE
) due to complications attributable to environmental litigation against Cascade. Lift says there's no assurance an agreement will be completed.
) will reduce its U.S. workforce by approximately 1,100 positions.
Rainbow Technology (RNBO
)sees a $0.07-$0.10 Q1 loss, citing a continued slowdown in the Internet infrastructure industry.
Equity Marketing (EMAK
) sees $1.05-$1.40 2001 EPS on revenues of $185M-$215M. Equity says sales from its largest client, Burger King, are expected to decline by about 30%-40% in 2001.