) said it will break down its business into 11 units. Cisco eliminated a telecom unit as well as some other divisions.
Krispy Kreme (KKD
) posted $0.10 vs. $0.06 Q2 EPS on 34% higher total system sales. The doughnut chain raised fiscal 2002 EPS guidance to $0.42 per share, and expects fiscal 2003 EPS to increase by 40% to $0.59 per share. S&P maintains sell on Krispy Kreme.
Standard & Poor's cut Gateway's's (GTW
) credit rating to junk status.
ABN Amro reportedly upgraded Comverse Technology (CMVT
) to add from hold.
Barnes & Noble (BKS
) posted breakeven Q2 (pro forma) vs.
an $0.11 loss on a 6% sales rise and plans to file an IPO for GameStop.
Herman Miller (MLHR
) First Union downgraded to market perform from buy.
Wet Seal (WTSLA
) posted $0.18 vs. $0.02 Q2 EPS on
3.4% higher same store sales, and 5.8% higher total
sales. Wet Seal believes it can achieve low single-digit
comp store sales in Q3 and Q4.
Matria Health (MATR
) expects 2001 revenues to exceed $260M, up from an earlier forecast, and EBITDA to exceed $42M. Matria says 2001 EPS expectations remain in the $0.95-$1.00 range.
Great Southern Bancorp reportedly offered to acquire Guaranty Federal (GFED
) for $16 per share.
Toll Brothers (TOL
) posted $1.54 vs. $1.00 Q3 EPS on a 26% revenue rise, citing pricing power, solid demand, stable material costs and industry-wide lot shortages.
) posted $0.08 vs. $0.17 Q2 EPS on 5% lower same store sales. Given continuing negative comparable store sales trends, Limited expects about breakeven level of profitability in Q3, with EPS to be down significantly for fiscal 2002.
) posted $0.28 vs. $0.65 Q3 earnings before goodwill on
a 23% revenue decline, and posted $0.22 vs. $0.59 Q3 GAAP
EPS. Synopsys sees $1.05-$1.10 fiscal 2001 EBG, and $2.10-$2.40 for fiscal 2002. Robertson Stephens cut the target and reiterates buy.
Intimate Brands (IBI
) posted $0.14 vs. $0.20 Q2 EPS on 5% lower same store sales. Given continuing negative comparable store sales trends, Intimate Brands expects about breakeven level of profitability in Q3 , with EPS to be down significantly for fiscal 2002.
Hot Topic (HOTT
) posted $0.19 vs. $0.15 Q2 EPS on a 2.4% same store sales rise, and a 39% total sales rise.
Claire Stores (CLE
) posted a $0.12 Q2 loss vs. $0.34 EPS on 3% lower sales. The fashion accessories chain remains cautious as mall traffic remains an issue in a difficult retail environment; Claire's is not comfortable giving any guidance for Q3 at this time.
) posted a $0.31 Q1 loss vs. a $0.06 loss as higher costs
offset a 8% sales rise. The company narrowed its $42M fiscal 2002 loss estimates to a $40M loss.
Metro One Telecommunications (MTON
) says it has not lowered financial guidance or
outlook for continued strong business for Q3 or fiscal 2001.
Patterson Dental (PDCO
) posted $0.29 vs. $0.24 Q1 EPS on a 12% sales rise, and sees $0.32-$0.34 Q2 EPS, and reaffirmed the $1.36 fiscal 2002 consensus estimate.
) posted a $0.51 Q4 loss vs. a $0.46 loss as higher R&D costs offset a sharp revenue rise.
Equant N.V. (ENT
) will cut 20% of its total global workforce; and take a $40M-$50M charge.
Lehman upgraded Cytec Industries (CYT
) to strong buy from buy.
Journal Register (JRC
) says July pro forma advertising revenues were $25.2M
vs. a year ago's $25.8M.
Airtran Holdings (AAI
) Sees $0.02-$0.06 Q3 EPS from operations and expects its load factors will decline three to five points and that yields will decline slightly.
Guidant Corp. (GDT
) announced the launch of its Ventak Mini IV implantable
cardioverter defibrillator system in Japan.
Ciena Corp. (CIEN
) will be added to the S&P 500 after close of trading on a date to be announced, replacing American General, which is being acquired.