Hoak Breedlove upgraded Travelocity.com (TVLY
) to strong buy from buy.
) signed a contract with Radiolinja, a Finnish wireless carrier. SignalSoft also launched Access Manager, a location-based services software product. CS First Boston reiterates buy.
) Banc of America upgraded to strong buy from buy. The company noted analyst's comments.
) posted better than expected $0.15 vs. $0.15 Q4 EPS from operations on a 3% revenue decline. S&P reiterated its accumulate rating. CS First Boston upgraded the stock to strong buy. Merrill Lynch upgraded the shares to long-term buy from long-term accumulate. Salomon upgraded to outperform from neutral.
Lehman Bros. (LEH
) posted $1.57 vs. $1.39 Q2 EPS from operations on a 15% revenue rise. Merrill upgraded to near-term accumulate from near-term neutral.
Superconductor Technologies (SCON
) forecasted its unaudited Q2 net
commercial revenues to be about $2.9M vs. $1.2M a year
ago. The company expects gross commercial product revenues for
Q2 will increase about 120%.
Atlas Air (CGO
) sees breakeven Q2, and $0.90-$1.10 2001 EPS from operations. Atlas Air will reduce its ground-staff workforce by about 200, and will decrease fleet service levels by up to six aircraft. Atlas also will take a $40M-$50M Q2 charge.
Bruker Daltonics (BDAL
) believes shares are lower in sympathy with its direct mass spectrometry competitor Waters Corp.
Waters Corp. (WAT
) cut the Q2 guidance to $0.29 EPS on
sales growth before currency effects of 7%-10%. JP
Morgan downgraded to long-term buy. S&P maintains
Right Manage (RMCI
) says Q2 results are expected to substantially exceed market expectations, and sees Q2 EPS above $0.50 on revenues in excess of $70M.
Raymond James upgraded Sonus Networks (SONS
) to buy from market perform.
Salomon upgraded Siebel Systems (SEBL
) to outperform from neutral.
CNB Financial Corp. (CNBF
) agreed to be acquired by NBT Bancorp Inc. (NBTB
) in a $140M deal. Terms: 1.2 NBT shares for each CNB share.
DB Alex. Brown downgraded Level 3 Communications (LVLT
market perform from buy. On Monday the company forecast
$2.1B for 2001, $2.5B-$2.6B for 2002, and $3.5B-$3.6B for 2003 communications cash revenue.
On Assignment (ASGN
) sees $0.18-$0.19 Q2 EPS on flat revenues and sees $0.82-$0.85 2001 EPS. The company raised its buyback program to 10% of stock, and plans to remain independent. CS First Boston cut the estimates and target.
Needham upgraded Juniper Networks (JNPR
) to buy from hold.
Trex Co. Inc. (TWP
) sees $24M-$26M Q2 revenue vs.
a year ago's $36.5M. BB&T Capital downgraded to hold
from strong buy.
CS First Boston upgraded Charlotte Russe (CHIC
) to buy
from hold. On Monday the company forecast Q3 comps in the
negative mid-single digit area, and Q3 EPS at least flat
vs. year ago but less than expected.
Lehman says Sirius Satellite's (SIRI
) analyst meeting boosts confidence, and reiterates strong buy.
CS First Boston downgraded Exodus Communications (EXDS
hold from buy.
Identix Inc. (IDX
) gets contracts from two major airports to assist them in meeting compliance terms of the Airport Security Improvment Act of 2000; they will install the systems by June 30, 2001.
Amtran Inc. (AMTR
) entered a pact whereby the 28% of its
stock not owned by Chariman J.G. Mikelsons will be
converted into the right to receive $23 cash per share.
Champion Enterprises (CHB
) sees $420M Q2 sales, and reduced the
loss estimate to the range of $0.02-$0.05.
Robertson Stephens downgraded TTM Technologies (TTMI
) to market perform from buy.
Datum Inc. (DATM
) sees $0.10-$0.13 Q2 EPS on revenues of $27M-$29M. Datum says in the first half of June, the company
began to notice more pronounced weakness in the wireless
Dean Foods (DF
) sees $0.40-$0.43 Q4 EPS from operations vs. $0.64 consensus, and $2.25-$2.28 fiscal 2001 (May). The company cites weakness in its Specialty Foods and National Refrigerated Product segments.
Suiza Foods (SZA
) says it's comfortable with consensus $1.11 Q2 EPS estimate and still thinks a Dean-Suiza merger will create significant shareholder value.
Qwest Communications (Q
) reiterated its 12%-13% Q2 revenue growth forecast and $21.3B-$21.7 billion 2001 revenue, along with $8.5B-$8.7B 2001 EBITDA guidance, citing strong service demand.
) posted $0.12 vs. $0.30 Q3 cash EPS despite a 9% revenue rise, and sees $0.05-$0.09 Q4 EPS on $3 to $3.5 billion revenues. Solectron plans to file for a $3 billion universal shelf offering. S&P maintains hold. Lehman cut estimates. Banc of America maintains strong buy.
CS First Boston upgraded Citrix Software (CTXS
) to buy from hold.
Entegris Inc. (ENTG
) posted $0.14 vs. $0.19 Q3 EPS from operations on a 11% revenue decline, and sees a 25%-35% Q4 sequential revenue decline.
Gucci Group ( GUC
) posted $0.55 vs. $0.46 Q1 EPS on a 5.5% revenue rise. Gucci cut the $2.6 billion fiscal 2002 revenue projection to $2.45 billion, and cut the $3.40 EPS forecast to $3.00. Gucci notes lower U.S. interest rates, which will reduce net interest income.
First Consulting (FCGI
) sees Q2 revenues at the lower end of the $69M-$71M projection, and says it has experienced slowdown in some units.
Pier 1 Imports (PIR
) posted $0.13 vs. $0.17 Q1 EPS despite a 2.8% same-store sales rise, noting lower margins due to greater
promotional sales and higher advertising expenses as
percentage of sales.
Cyberonics Inc. (CYBX
) says net sales for ten months ended April 27 totaled $43.4 million vs. the $37.7 million posted for the year ago; the loss was $1.27 per share vs. a $0.14 per share loss. The company sees greater than 9% growth for fiscal 2002 worldwide sales.
Advanced Power ( APTI
) expects Q2 revenue to finish within the low end of $11 to $11.9 million guidance given on April 19 and sees Q3 revenue of $8.2 to $9 million. The company will institute wage freeze and graduated pay reductions for domestic workers.
Eaton Vance (EV
) will be added to S&P MidCap 400 Index at close of trading
on date to be announced, replacing True North Communications,
which is being acquired.
) will be added to S&P SmallCap 600 Index after the close of trading on a date to be announced, replacing Eaton Vance, which is being added to S&P MidCap 400 Index.
Financial Fedderal (FIF
) will be added to S&P SmallCap 600 Index after the close of trading on a date to be announced, replacing M.S.Carriers, which is being acquired.