Markets & Finance

Merrill Raises Worldcom Group to Near-Term Accumulate


Worldcom Group (WCOM) was trading higher after Merrill upgraded the stock to near term accumulate from neutral. On Thursday, the company posted $0.24 vs. $0.35 3Q EPS from operations.

Applied Micro Circuits was off after Robertson Stephens downgraded shares of the company to market perform from buy on valuation.

Digital Insight (DGIN) was higher after it posted narrower than expected $0.02 3Q loss vs. $0.19 loss (pro forma) on a 49% increase in revenue.

Lockheed Martin (LMT) posted a $0.41 3Q EPS from operations vs. $1.74 loss. It increased 2001 EPS outlook to about 35% increase from $1.07 2000 EPS, vs. 30%-35% previous guidance.

JDS Uniphase (JDSU) reported $0.20 1Q loss vs. $0.18 EPS (pro forma) on 58% revenue revenue decline, and sees $0.01-$0.02 2Q loss (pro forma) on 10%-15% sequential revenue decline. Robertson Stephens downgraded the stock to market perform.

Verisign( VRSN ) recorded $0.28 vs. $0.17 3Q EPS (pro forma) on 47% revenue rise. Bear Stearns downgraded the stock to neutral from attractive.

Baker Hughes (BHI ) recorded a $0.41 vs. $0.20 3Q EPS on 6.1% revenue rise, and sees $0.34-$0.37 4Q operating EPS, rising to $1.27-$1.30 in 2001.

Allegheny Energy (AYE ) posted $1.32 vs. $0.69 3Q EPS from operations on sharp revenue rise. The company says performance in 3Q, so far in 2001 puts it on clear path toward delivering EPS within guidance of $3.80-$4.10 for 2001.

Eastman Chemical (EMN ) posted $0.55 vs. $1.05 3Q EPS from operations on flat revenue, lower capacity utilization, unfavorable product mix. Expects 4Q EPS from operations to be lower than 3Q.

AES (AES) reported $0.27 vs. $0.32 3Q EPS from operations despite 14% revenue rise. It sees $1.25-$1.35 2001 EPS, $1.50-$1.65 2002. S&P maintains an avoid rating on the energy company.

Kenneth Cole (KCP ) posted $0.29 vs. $0.59 3Q EPS on 9% revenue decline. The retailer sees $0.05-$0.10 4Q EPS on revenue of $85M-$90M. Robertson Stephens downgraded the company's shares to market perform from buy.

HOTJOB.COM (HOTJ) recorded $0.02 3Q loss vs. $0.21 loss (pro forma) from operations on 4.6% lower revenue.


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