) posted a $9.61 Q2 loss vs. $1.80 EPS. The current quarter included charges. S&P put the estimates under review.
) CEO Craig Barrett says the PC industry has bottomed and demand will rebound in the second half of 20001 on seasonal factors. S&P keeps hold, Banc of America reiterates buy and Lehman says the comments are negative.
American Financial Group (AFG
) posted $0.35 Q2 EPS from operations. During Q2 the company says P&C Group experienced an increase in the
number and severity of asbestos claims, with the likelihood
for higher than expected payments.
Walgreen Corp. (WAG
) posted a 13% July same-store sales rise and a 19% total sales rise. Salomon SB upgraded to buy from neutral.
Matrixone Inc. (MONE
) posted $0.06 Q4 EPS from continuing operations
vs. breakeven on a 66% total revenue rise. USB Piper, Robertson Stephens and RW Baird downgraded.
) posted preliminary $0.11 vs. $0.08 Q2 from operations and sees $0.27 second-half 2001 EPS from operations, citing reduced depreciation and amortization expenses. Banc of America downgraded to market perform from buy.
) sees $0.21-$0.23 Q3 EPS on $114M-$118M revenues, and $0.13-$0.16 Q4 EPS on $95M-$100M revenues, citing much lower than expected orders from Luxoticca as well as poor visibility.
Dain Rauscher downgraded Praecis Pharmaceutical (PRCS
) to hold from buy.
Dain Rauscher raised NetIQ Corp.'s (NTIQ
) target on recent strength and potential catalysts.
Tucker Anthony upgraded Crown Castle (CCI
) to strong buy from buy on price.
American Tower (AMT
) posted a $0.54 Q2 loss vs. a $0.36 loss
as higher operating expenses offset a 57% revenue rise.
The company reaffirmed Q3 and Q4 guidance. Tucker Anthony says Q2 results were in line and reiterates buy.
Quidel Corp. (QDEL
) received further patent protection for its Layered Thin Film technology to detect vaginal clue cells. Tucker Anthony reiterates buy, expects improvement in the second half after a mixed Q2 report.
USB Piper upgraded Powerwave (PWAV
) to strong buy
Robertson Stephens upgraded Sanmina (SANM
) to strong buy from buy.
Loews Corp. (LTR
) posted a $7.18 Q2 loss vs. $2.59 EPS on a 19% decline in insurance premiums, net investment income and a loss reserve related to CNA Financial (LTR owns 87% of CNA).
Avant Immunotherapy (AVAN
) posted a $0.10 Q2 loss vs. a $0.05 loss as a "substantial" increase in R&D costs offset a sharp revenue rise. Dain Rauscher downgraded to buy.
CIBC World initiated coverage of 1-800 Flowers (FLWS
strong buy and a $17 target.
Espeed Inc. (ESPD
) posted a $0.01 Q2 loss vs. a $0.18 loss
on a 51% revenue rise and continues to sees breakeven-$0.01 EPS for Q3 as well a $0.02-$0.04 for Q4. Lehman reiterates strong buy.
Manufacturing Services (MSV
) posted better than expected $0.11 vs.
$0.15 Q2 cash EPS on a 11% revenue rise. Robertson
Stephens upgraded to buy from market perform.
) received FDA approval to market its
UroVysion test for monitoring the recurrence of bladder
) posted 16% higher Q2 operating cash flow on a 20% revenue rise. Comcast plans $1.75B capex in 2001, up from its previously planned $1.45B as a result of an accelerated
rebuild program and year-end customer targets.
Computer Science (CSC
) posted $0.28 vs. $0.56 Q2 EPS despite a 10% revenue rise. Computer Science expects Q2 revenue growth to exceed 10%, with EPS in the high $0.30 to low $0.40 range. S&P maintains hold. DB Alex Brown upgraded to buy. S&P, CS First Boston rates hold. DB Alex Brown upgraded.
Robertson Stephens expects Tellabs (TLAB
) to be pressured by a continuing challenging operating environment, and sees no meaningful improvement in demand for Tellabs' Titan products in the foreseeable future.
Global Crossing (GX
) posted 33% higher Q2 recurring adjusted EBITDA on 26% higher continuing operating cash revenue. The company will eliminate 2,000 positions, and take a $250M-$325M Q3 non-recurring charge.
) posted a narrower than expected $0.36 Q2 loss vs. a $0.31 loss on flat sales.
Lehman downgraded Oxford Health Plans (OHP
) to buy from strong buy. On Wednesday Oxford posted $0.73 vs. $0.41 Q2 EPS from operations on a 8.8% revenue rise, and set a $250M share buyback.
Adept Technology (ADTK
) posted a $1.14 Q4 loss vs. $0.08 EPS on 26% lower sales and expects Q1 fiscal 2002 revenues to to be down 10%-20% from Q4. Adept has limited visibility for
the following quarters.
) agreed to be acquired by Teradyne in a deal valued at about $260M (including $85M debt assumption). Terms:
0.1733 Genrad share per Teradyne share.
Tut Systems (TUTS
) posted a $0.70 Q2 loss vs. $0.04 EPS on a sharp revenue decline. Robertson Stephens cut estimates.
Aether System AETH posted a $1.19 Q2 loss vs. a $0.30 loss despite a sharp revenue rise., and says total cash burn during Q2 was $78M, nearly half of $142M in Q1.
) posted $0.57 vs. $0.14 Q2 EPS on a sharp revenue rise.
) posted preliminary $0.11 vs. $0.08 Q2 from operations on a 4% revenue rise. The company sees $0.27 second half 2001 EPS from operations, citing reduced depreciation and amortization expenses.
) will be added to the S&P 500 after close of trading Thursday, replacing Quaker Oats, which is being acquired by PepsiCo.