) expects Q4 revenue to exceed $8B,
yielding a profitable quarter. He notes previous guidance was revenues of $7.6B-$7.8B, and a $0.03 loss. S&P maintains
Cor Therapeutics (CORR
) confirms guidance of profit for Q4 and
Lucent Technologies (LU
) named Patricia Russo, most
recently president and COO of Eastman Kodak (EK
), as president
and CEO. S&P maintains hold.
JP Morgan reportedly downgraded Imclone Systems
) to market
perform from buy.
Goldman added Bea Systems (BEAS
) to recommended list, was rated market outperform.
Bear Stearns downgraded Charles Schwab (SCH
) to attractive from buy.
RBC Dain Rauscher says positive
data points on Legato Systems (LGTO
) are mounting, and upgraded to buy from neutral.
Benchmark Electronics (BHE
) sees Q4 results exceeding $0.10 cash EPS, and $258M revenue. S&P keeps avoid.
WF Van Kasper reportedly downgraded Applied Films (AFCO
) to market perform from strong buy.
RW Baird downgraded Black Box (BBOX
) to market perform from market outperform.
Morton's Restaurants (MRG
) will take a $1.6M Q4 pre-tax charge related to closing of its restaurant in Sydney, Australia.
Back Yard Burger (BYBI
) entered into a development agreement with Tricon Global whereby Back Yard grants Tricon Global the right to use its trademark in US.
Merrill downgraded Convergys (CVG
) to near term neutral from buy, and maintains long term buy.
Dycom Industries agreed to acquire Arguss Communications (ACX
) for about $5.77 per share.
Sangstat Medical (SANG
) sees $0.01-$0.03 4Q EPS, better than previous guidance range of $0.01 loss to $0.01 EPS, citing continued growth in therapeutic revenues and expense control.
Circuit City (CC
) expects 4Q EPS for Circuit City
business, excluding EPS in Carmax Group, will be in
the $0.68-$0.71 range. Circuit City sees mid-single digit growth in January and February same store sales.
and Advanced Micro Devices will begin selling their
fastest-ever flagship processor.
CS First Boston upgrades Teva Pharmaceutical
) to strong
buy from buy.
Goldman initiates coverage on Prudential Financial
) and to
recommended list. CS First Boston initiates coverage
Kerry Group will acquire Stearns & Lehman
) co. for about
$26 million, subject to adjustments. It currently
estimated shareholders will receive not less than $7.36 per share.
entered into collaboration with Pfrier, to design,
synthesize, and purify high-quality, drug-like
compounds to expand
Pfizer's compound file
The president and COO of Cousins Prop () will step
will reopen four plants it idled, a signal that
demand may be growing in the
ailing telecom sector, according to press reports.
sees $50M-$52M 4Q revenue, $0.04-$0.06 core net
loss. Vignette notes that
unanticipated level of client spending
decisions will be delayed
agreed to be acquired by Tibco Software for $5.30
per share in cash and stock, for a total value of
$115M, including assumption of
A C L N Limited (ASW
) says the SEC has begun an
investigation, focusing on
disclosures made by ASW in SEC
filings. A C L N also says
eight class action lawsuits
have been filed against it
Great Atlantic & Pacific (GAP
) posted $0.08 Q3 EPS from operations
vs. a $0.38 loss on 3.1% same
store sales rise, and sees
$0.34 of continuing costs in
Q4 to to improve supply chain
and business processes.
Lexicon Genetics (LEXG
) discover and validates in vivo a new
drug target, named LG527, to develop potential
treatments for depression.
Extreme Networks (EXTR
) sees $108M-$110M 2Q revenue,
$0.01-$0.02 pro forma EPS.
Court rules in Actuate's () co.'s favor in suit
filed by rival
Crystal Decisions regarding
validity of assertions made
by Actuate in certain
) received Fast Track Designation
from FDA for Actimmune injection for treatment of
idiopathic pulmonary fibrosis.
intends to offer senior notes due 2009 in private placement, and expects to raise $500M.