RightCHOICE Managed Care (RIT

) sees $0.76-$0.78 Q2 and $2.75-$2.80 2001 EPS, and says it is positioned to achieve overall annual EPS growth of at least 20% in 2001 and 2002.

CS First Boston agreed to acquire 18.4M shares of CSFBDirect (DIR

) for $6 per share cash, about $110M.

Microsoft awarded a Recoton Corp. (RCOT

) unit a contract to develop and make a speech recognition-capable headset accessory product for use with Microsoft's Xbox video game system.

Compaq Computer (CPQ

) expects to meet the $0.04 Q2 EPS analysts' consensus estimate. The company sees $8.4B in revenue, down 9% sequentially. S&P maintains hold. Robertson Stephens cut its price target to $18 and reiterates its buy rating.

Emerson Electric (EMR

) sees an 11% decline in Q3 EPS and a mid-single-digit decline in fiscal 2001 EPS, driven by a sharp decline in sales and profit in electronics and telecom, as well as higher restructuring expense that it treats as normal "pay as you go" costs.

Comverse Technology (CMVT

) sees $0.28 Q2 EPS from operations on $345M in revenue, $0.20 Q3 EPS on $330M in revenue, $0.23 Q4 EPS on $340M in revenue. It projects EPS of $1.14 for fiscal 2001 and of $1.37 for fiscal 2002. The company cites the capital spending recession and macro-economic slowdown.

Morgan Stanley downgraded Openwave Systems (OPWV

) to neutral from strong buy.

Newell Rubber (NWL

) sees $0.29 Q2 EPS from operations vs. previous guidance of $0.37-$0.42 EPS, and sees $1.20-$1.30 EPS for 2001 vs. previous $1.50-$1.65 EPS. S&P keeps hold. JP Morgan downgraded.

Morgan Stanley reportedly downgraded Amdocs (DOX

) to outperform from strong buy.

Whirpool Corp. (WHR

) sees $1.30 Q2 EPS from operations vs. consensus $1.25 estimate. S&P maintains hold.

RMH Teleservices (RMHT

) raised its Q4 revenue projection to $53M from $50M, and lowered Q4 EPS guidance to $0.04 from $0.12 to reflect additional operating expenses.

Investors Financial Services (IFIN

) posted $0.36 vs. $0.26 Q2 EPS on a 66% revenue rise. Dain Rauscher upgraded to strong buy from buy.

Wolverine World (WWW

) posted $0.21 vs. $0.18 Q2 EPS on a 7.9% sales rise.

Merrill upgraded Infineon Technology (IFX

) to near-term buy from neutral.

Chico's FAS (CHS

) posted 16% higher June same-store sales and 40% higher total sales. Tucker Anthony reiterates strong buy.

Goldman removed Universal Access (UAXS

) from its recommended list, and now rates market perform.

Gilat Satellite (GILTF

) says its Q2 revenues and gross margin are expected to approximate its previously announced guidance.

Wabash National (WNC

) sees a wider than expected $0.16-$0.35 Q2 loss, citing weak demand for new trailers, and costs associated with the start-up of a new coating, finishing process in its Tennessee facility.

Medtronic (MDT

) says its InSync cardiac resynchronization system got recommendation for approval, with post-market conditions, by an FDA panel.

Pacific Sunwear (PSUN

) posted a 7.4% June same store sales decline but 10.7% total sales rise, citing weak summer apparel sales. The company sees Q2 EPS at the lower end of previously stated $0.13-$0.17 range.

DoubleClick (DCLK

) posted a $0.07 Q2 loss vs. a $0.03 loss (pro forma) on 20% lower revenues. The company maintains current consensus targets for the second half, which is currently a $0.09 loss per share. S&P reiterates strong buy. CS First Boston and Merrill cut their estimates.

Allstate (ALL

) estimates pre-tax catastrophe losses for Q2 to be $536M; estimated catastrophe losses would add 9.7 points to the company's combined ratio for Q2, and would impact after-tax EPS by about $0.48.

Tiffany & Co. (TIF

) says net sales in Q2 are tracking at about equal to prior year; assuming similar trends for the rest of July, the company expects Q2 EPS will be in the $0.23-$0.25 range.

Rational Software (RATL

) posted $0.08 vs. $0.13 Q1 EPS (pro forma) as higher operating costs offset a 3% revenue rise.

Robertson Stephens downgraded Guidant Corp. (GDT

) to market perform and cut its estimates. On July 10, an FDA Circulatory Systems Device Panel voted not to recommend approval of the company's Contak CD/Easytrak system.

Scios Inc. (SCIO

) received an approvable letter for its New Drug Application for Natrecor, an IV treatment for patients with acutely decompensated congestive heart failure.

American Eagle (AEOS

) posted 9% higher June same store sales and 37% higher total sales.

ADE Corp. (ADEX

) cut 5% of its workforce. Due to the uncertain industry climate, ADE implemented additional initiatives to streamline the fundamental cost structure of the company.

Barr Labs (BRL

) sees $0.49-$0.51 Q4 EPS vs. the analysts' consensus estimate of $0.43. The company cites higher than expected non-Tamoxifen sales and a better mix of sales of higher margin products.

Pepsi Bottling (PBG

) posted $0.68 vs. $0.58 Q2 EPS from operations on a 7.7% revenue rise. The company raised its 2001 EPS from operations guidance to $1.84-$1.88.

According to press reports, Polaroid (PRD

) is discussing a debt-restructuring plan with its bankers and is considering a voluntary bankruptcy filing. The immediate issue is a loan covenant due to expire July 12.

First Republic (FRC

) will be added to the S&P SmallCap 600 Index after the close of trading on July 11, replacing Pac-West Telecom, which is being removed for lack of representation.