Markets & Finance

Cisco Says It's on Track to Meet Estimates


Cisco ( CSCO) says it is comfortable with analysts' $0.01 loss to $0.03 Q1 EPS estimate, $4B-$4.3B Q1 sales estimate. S&P maintains hold.

Salomon raised estimates on ACE Ltd. (ACE).

Needham upgraded Flextronic (FLEX) to buy from hold and set a $25 price target. On Tuesday Flextronic and Xerox inked a manufacturing pact.

S&P says Priceline.com (PCLN) now sees Q3 revenue at the high end of the range announced two weeks ago and keeps its hold rating. Prudential upgraded to buy. Goldman raised estimates.

Kronos (KRON) sees better than expected Q4 EPS of at least $0.70 vs. $0.41-$0.57 consensus. Kronos says it closed more orders in the last weeks of the quarter than expected. Needham raised estimates and target.

Homestore.com (HOMS) sees a $0.01-$0.06 Q3 loss from operations and says the Sept. 11 attacks compounded an already deteriorating advertising market. Prudential cut estimates and target.

Edison International (EIX) and the California Public Services Committee announced a deal to pull SoCal Edison out of insolvency without help from state lawmakers; Edison will work out a creditor payment plan.

Robertson Stephens upgraded American Eagle (AEOS) to buy from market perform.

Natus Medical (BABY) sees a $0.05-$0.07 Q3 loss on revenues of about $6.3M, citing the Sept. 11 events, subsequent business interruptions, and delays in implementing government-sponsored hearing screening programs in Britian.

Optimal Robotics (OPMR) Due to soft, uncertain economic

environment accelerated by Sept. 11 tragedies, Optimal sees $0.27-$0.28 Q3 EPS and $1.00-$1.05 2002 EPS. Raymond James reportedly downgraded.

Nortel Networks (NT) sees Q3 revenues from continuing operations of about $3.5B, and an operating loss of $0.28. Nortel will further cut its workforce. S&P keeps hold; Goldman keeps market outperform.

Littlefuse (LFUS) sees about $0.05 Q3 EPS from operations on about a 4% sales decline, citing weak demand for electronic and electrical products.

Gilat Satellite (GILTF) sees lower than expected Q3 revenue, and says revenues from consumer segment were minimal. Revenues also were negatively impacted by Sept. 11 events.

Tiffany (TIF) sees $0.12-$0.15 Q3 EPS on about a 10% total sales drop; and sees $0.49-$0.56 Q4 EPS on a low double-digit same store sales decline; as well as $1.05-$1.15 fiscal 2002 EPS; and modest fiscal 2003 EPS growth.

Openwave Systems (OPWV) sees a $0.01-$0.04 Q1 loss (pro forma) on revenue of $115M-$120M. Robertson Stephens cut estimates.

Eli Lilly (LLY) sees $0.66 Q3 EPS from operations, in line with estimates. Lilly sees $0.59-$0.61 Q4 EPS due to an accelerated rate of Prozac sales erosion. Lilly sees $2.75-$2.77 2001 EPS from operations, $2.70-$2.80 2002, and high teens 2003 EPS growth.

Nextel Communications (NXTL) says it is on track to achieve 2001 targets of 1.9M-2M domestic subscriber additions, and $1.9B operating cash flow. Nextel expects to report Q3 subscriber adds, and operating cash flow in range of expectations.

Insight Enterprises (NSIT) sees $0.19-$0.21 Q3 EPS on sales of $490M, down 9% from Q3.

Compuware (CPWR) sees Q2 revenues of $420M-$426M, EPS of $0.09-$0.11. S&P maintains hold.

Digital Lightwave (DIGL) sees a $0.09-$0.10 Q3 loss from operations on revenue of $8.3M-$8.7M, citing deteriorating domestic and international telecommunication industry conditions, and overall economic weakness.

TMP Worldwide (TMPW) cut the Q3 EPS estimate to $0.34-$0.36, cut the Q4 to

$0.24-$0.26, citing the ongoing negative economic impact and business disruptions related to Sept. 11 events.

S&P maintains hold.

Applebee's (APPB) sees $0.43-$0.44 Q3 EPS, and $0.42-$0.45 for Q4. The company expects

system-wide comparable sales for Q4 to be in the range of zero

to up 2%.

Swift Transport (SWFT) sees $0.13-$0.16 Q3 EPS from operations, citing continuing difficult economic conditions, which were further hampered by the recent tragedies of Sept. 11.

Williams-Sonoma (WSM) expects to meet previously announced $0.05-$0.07 Q3 EPS guidance on revenues of $460M-$470M, below the previous $478M-$492M guidance.

L-3 Communications (LLL) offered to buy Spar Aerospace Limited of Canada for C$15.50 per share, or total of C$230M.


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