) says it saw positive Phase II efficacy results with NBI-34060 immediate release in elderly patients with primary insomnia. Deutsche Banc Alex Brown reiterates its strong buy rating.
Banc of America upgrades Circuit City (CC
) to buy from market perform.
RBC Dain Rauscher reiterates its strong buy rating on Nastech Pharmaceutical (NSTK
). Yesterday Nastech announced positive results from a Phase II trial of its nasally administered apomorphine for erectile dysfunction.
Bank of America says although acq. of Immunex (IMNX
) makes some strategic sense for Amgen (AMGN
), the acquisition would be dilutive and would shift the company's focus away from the launch of Aranesp. S&P is reviewing is rating.
WF Van Kasper reportedly downgrades Nike Inc (NKE
) to market perform from buy.
Goldman says weak relative performance creates compelling buying opportunity on shares of AOL Time Warner (AOL
). The firm reiterates its recommended status.
) expects 2001 EPS from continuing operations to exceed $2.80, excluding special items, and $2.45 to $2.55 in 2002. The company says significant progress has been made on the spin-off of its engineered industrial products business.
Moody's reportedly places Calpine Corp. (CPN
) on review for a downgrade.
ITT Industries (ITT
) wees $3.07 to $3.11 in 2001 EPS, before one-time items. It says that are expected to be off about 4% from 2000, it sees operating margins increasing 20-50 bps due to process improvements and cost control.
Oracle Corp. (ORCL
) posts $0.10 compared with $0.11 Q2 EPS on an 11% revenue decline. S&P maintains its accumulate rating.
Tektronix Inc. (TEK
) posts $0.12 vs. $0.36 2Q EPS from operations on a 34% sales drop. It sees Q3 revenue down 37%. S&P maintains a hold ratings.
Adobe Systems (ADBE
) posts $0.20 compared with $0.34 Q4 EPS from operations on a 26% revenue decline. The company aims for $0.20 to $0.22 Q1 EPS on revenue of $265M to $280M. S&P cuts estimate, maintains accumulate ratings.
) sees lower than expected $2.25 to $2.35 2002 EPS. The company raises its quarterly dividend 2%.
JNI Corp. (JNIC
) sees 2002 revenue growth of up to 15% through concurrent expansion of its core fibre channel business, favorable progress with SUNW's server transition, execution of complementary InfiniBand initiatives.
California Micro (CAMD
) sees wider than expected $0.38 to $0.40 Q3 loss from operations on revenue of $7M to $7.5M.
Danaher Corp. (DHR
) sees $2.30 2001 EPS on essentially flat revenues. The company says Q4 revenue declines will likely be 11% to 13%, with EPS of $0.52. It plans to close 16 facilities and eliminate another 1,100 positions.
Echostar Communications (DISH
) is reportedly in talks for a U.S. distribution pact with Vivendi Universal. The deal could lead to Vivend investing about $1.5B in Echostar.
Trimble Navigation (TRMB
) sees between breakeven and $0.04 Q4 EPS (adjusted) on $105M to $110M in revenue.
Tribune Co. (TRB
) says that November consolidated revenue fell 7%, year-to-date declined 7%.