) was off after posting third quarter earnings per share of $0.37 versus $0.47 (excluding charges related to September 11 and non-operating segment revenues. The company says the fourth quarter corporate segment revenue is likely to be hurt by equity market decline.
Generic drug maker Alpharma Inc. (ALO
) was down after it posted third quarter earnings per share of $0.35 vs. $0.45 from operations on flat revenues. The company sees fourth quarter loss of $0.15 and 2001 revenue below previous estimate of about $1 billion. SG Cowen lowered its investment rating while UBS Warburg cut estimates.
Generic drug maker Ivax Corp (IVX
) was lower after saying it does not believe that the circuit court's decision will prevent it from continuing to market Onxol, its brand equivalent paclitaxel. Standard & Poor's maintains its neutral rating on the stock.
Catalog retailer Lands End (LE
) was up after posting third quarter earnings per share of $0.41 vs. $0.15 on 4% revenue rise. The company says it has a good opportunity to exceed last year's double-digit fourth quarter sales and earnings per share growth. Goldman raised its rating on the stock.
) posted $0.20 vs. $0.23 Q4 EPS (pro forma) despite a 6% revenue rise. Results include an adjustment from an accounting change. The company sees $0.21-$0.24 Q1 EPS (pro forma) on a 5%-10% sequential revenue rise. Merrill and CS First Boston cut estimates.
Lehman reportedly downgraded Tricon Global (YUM
) to buy from strong buy.
UBS Warburg reportedly cut its estimates and price target on Ciena Corp. (CIEN
Maxim Integrated (MXIM
) posted $0.17 vs. $0.33 Q1 EPS on a 43% revenue decline. The company sees Q2 EPS and revenue up slightly from Q1. S&P maintains accumulate.
) says all of its board members, with the exception of Walter B. Hewlett, reaffirm their support for the company's merger with Compaq (CPQ
). They also support Carly Fiorina's leadership.
) posted a narrower than expected $0.34 Q3 loss from operations vs. a $0.30 loss from continuing operations on an 8.3% revenue drop. Aetna says it continues to experience high medical costs. S&P reiterates its avoid rating.
Myriad Genetics (MYGN
) posted a narrower than expected $0.05 Q3 loss per share vs. a $0.09 loss on a 22% revenue rise.
Suiza Foods (SZA
) posted $0.98 vs. $1.02 Q3 EPS as weaker than expected results at Consolidated Container Co. offset an 8% revenue rise.
) reaffirmed its 12% target for 2001 EPS growth, and reiterated its initial 2002 EPS growth target of 10%, with continued improvements expected in return on capital.
Young Broadcasting (YBTVA
) posted 45% lower Q3 broadcast cash flow on 23% lower revenue.
) posted $0.58 vs. $0.80 Q3 EPS as higher costs offset a 16% sales rise. The company expects to enter into an acquisition agreement with FirstEnergy Corp. (FE
) whereby the company and a financial partner will buy FirstEnergy's Avon Energy Partners.
Robertson Stephens upgraded E*Trade (ET
) to strong buy from buy.
Nordstrom Inc. (JWN
) posted 5% lower October same-store sales and a 1.7% total sales decline.