) shares were sharply lower after the company posted $0.01 Q3 EPS vs. a $0.04 loss on a 30% total revenue rise. The company sees a $0.02 Q4 loss fromoperations, a $0.01 fiscal 2001 loss, and a $0.05 Q1 fiscal 2002 loss. Jefferies downgraded the shares to hold from accumulate.
Goldman Sachs cites news reports that say an analyst has indicated the release date for Microsoft's (MSFT
) Windows XP may be slipping into October. The stock is on Goldman's recommended list. Microsoft was unavailable for comment.
International Rectifier (IRF
) posted $0.73 vs. $0.38 Q3 EPS from operations on a 39% revenue rise. The company cut its Q4 revenue guidance to a 7%-14% sequential decline and fiscal 2002 revenue growth to 20%-25%. RW Baird upgrades.
Shopko Stores (SKO
) sees a $0.14-$0.18 Q1 loss per share, citing continued softness in the retail environment and inclement weather in the Midwest region. RW Baird downgraded the shares.
) posted $0.45 vs. $0.19 Q1 EPS on a 71% revenue rise. Tucker Anthony raised its estimates and price target on the footwear company; the firm maintains its strong buy rating on the shares.
Salomon Smith Barney downgraded Ciena (CIEN
) to outperform from buy.
Interpublic Group (IPG
) posted $0.21 vs. $0.21 Q1 EPS from operations as higher net interest expense and more shares outstanding offset 6% worldwide revenue growth. S&P downgrades. Bear Stearns cuts estimates.
Corning Inc. (GLW
) posted $0.29 vs. $0.23 Q1 EPS (pro forma) on a 42% sales rise. The company cut its 2001 EPS guidance from $1.20-$1.30 to $0.90-$1.00. Corning will cut about 4,300 jobs.
Lucent Technologies (LU
) and Alcatel (ALA
) have been holding talks on a merger although chances of a deal materializing are slim, according to press reports.
) posted $0.23 vs. $0.02 Q1 EPS (pro forma) on a sharp revenue rise. S&P maintains hold.
) agreed to be acquired by Compaq Computer (CPQ) in a deal valued at $266M.
Storage Technology (STK
) posted a $0.03 Q1 loss vs. a $0.22 loss on a slight revenue rise. S&P maintains hold.
Amgen Inc. (AMGN
) posted $0.28 vs. $0.25 Q1 EPS on 14% higher product sales. The company expects 2001 EPS from operations to grow in low-double digits vs. prior guidance for mid-teens growth.
Columbia Sportswear (COLM
) posted $0.32 vs. $0.13 Q1 EPS on a 27% sales rise. The company sees 21%-23% 2001 revenue growth and a 26%-29% rise in net income.
Alliance Semiconductor (ALSC
) posted $0.05 Q4 EPS from operations on a 15% revenue rise. The company believes Q1 revenues will substantially decline from Q4 levels.
Alza Corp. (AZA
) posted $0.23 vs. $0.15 Q1 EPS from operations on a 48% revenue rise. Alza raised its 2001 sales target for Concerta from $200M to $250M. The company expects total AZA Pharmaceuticals product sales to exceed $750M for the year.
Vignette Corp. (VIGN
) posted a $0.01 Q1 loss from operations (core) vs. breakeven results as higher costs offset a 63% revenue rise.
) posted $0.16 Q2 EPS on a 6% same-store sales gain. The company maintains its fiscal 2001 EPS estimate of $0.91, but lowered guidance for month-to-month gains in same-store sales to low single-digits. S&P maintains hold.
Williams Cos. (WMB
) posted $0.80 vs. $0.31 (restated) Q1 recurring EPS from continuing operations. S&P raises estimate, maintains accumulate.
WMS Industries (WMS
) posted $0.40 vs. $0.24 Q3 EPS from continuing operations on a 44% revenue rise. The company says it is clearly within reach of achieving consensus fiscal 2001 EPS projections of $1.42.
Amkor Technology (AMKR
) posted a $0.21 Q1 loss vs. $0.34 EPS (both before amortization) on a 13% revenue decline and narrowed gross margin. The company sees Q2 revenues down 15%-20% from Q1. S&P maintains hold.
Taiwan Semiconductor (TSM
) posted $0.11 vs. $0.16 Q1 earnings per ADR as economic weakness and industry conditions offset a 40% sales rise. The company sees a 26% drop in quarter-over-quarter revenue and positive net profit.
Hartford Financial Group (HIG
) posted $1.07 vs. $1.04 Q1 EPS on a 6% revenue rise. The company says property-casualty trends are positive, and remains comfortable with long-term EPS growth and return on equity goals.
Applera Corp-Celera Genomics (CRA
) says it completed the assembly of a mouse genome.
IBM Corp. (IBM
) developed a breakthrough transistor technology that could enable the production of a new class of smaller, faster, lower-power computer chips than is currently possible with silicon.
AES Corp. (AES
) posted $0.42 vs. $0.38 Q1 EPS from operations on a 50% revenue rise.