Markets & Finance

Cablevision Announces Charge, Job Cuts


Yahoo! (YHOO) shares were higher for a second straight day. On Dec. 27, the company agreed to acquire HotJobs.com in a $436 million deal. CIBC World says the deal is a near-term positive for Yahoo. But S&P reiterated its sell rating on the shares.

eFunds (EFDS) shares were lower after the company said it sees lower than expected $0.20-$0.23 fourth-quarter EPS on $127-$130 million in revenues, citing the timing of new contracts and lengthening sales cycles.

Inrange Technologies (INRG) shares fell following the news that Gregory Grodhaus resigned as as president and CEO. Inrange expects to meet recent fourth-quarter guidance of a $0.02 loss-$0.02 EPS on $60-$66 million in sales.

ACLN Ltd. (ASW) shares were falling amidst questions about "Frontline Trader," a Web site that issued an "urgent buy" rating on ACLN on Wednesday.

Nanometrics (NANO) shares declined after the company said it sees fourth-quarter revenue down 25% from the third quarter vs. its previous forecast of flat revenue due to continuing overcapacity in the semiconductor industry and economic deterioration in the U.S. and Japan.

Radiant Systems (RADS) shares rose after the company said it was comfortable it will meet or exceed analysts' fourth-quarter estimate range of $32-$33 million in revenue and a $0.01 loss- to breakeven (excluding non-recurring charges). ST Robinson Humphrey upgraded the shares to buy.

SoundView is very confident in its Street-high December quarter estimates for Webex (WEBX), and reiterated its strong buy. The company was unavailable for comment.

Cablevision (CVC) plans to take a fourth-quarter restructuring charge of about $55 million related to the elimination of about 600 positions, and a facility realignment.

DMC Stratex (STXN) sees a wider than expected $0.14-$0.16 third-quarter loss per share on lower than expected revenues of $43-$46 million. The company cites scheduling changes in shipments late in the quarter.

Radisys (RSYS) remains confident in fourth-quarter guidance of revenues in the mid-$50 million range. The company will take an $18 million charge for inventory writedown.

Waters Corp. (WAT) will be added to the S&P 500 index after the close of trading on Dec. 31, replacing FMC Corp., which is spinning off FMC Technologies.

FMC Corp. (FMC) will be added to the S&P MidCap 400 index after the close of trading on Dec. 31, replacing Waters Corp., which is being added to the S&P 500 index.

FMC Technologies (FTI) will be added to the S&P MidCap 400 index after the close of trading on Dec. 31, replacing Lance Inc., which is being added to the S&P SmallCap 600 index.

Lance Inc. (LNCE) will be added to the S&P SmallCap 600 index after the close of trading on Dec. 31, replacing APW Ltd., which is being removed from the index for lack of representation.

Commerce Bancshares (CBH) will be added to the S&P MidCap 400 index after the close of trading on a date to be announced, replacing Dime Bancorp, which is being acquired.

Sunrise Assisted Living (SRZ) will be added to the S&P SmallCap 600 index after the close of trading on a date to be announced, replacing Commerce Bancorp, which is being added to S&P MidCap 400 Index.


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