Markets & Finance

Compaq Says It Will Post Profit, Not Loss


Compaq Computer (CPQ) 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

hold.

Cor Therapeutics (CORR) confirms guidance of profit for Q4 and

2001.

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

(IMCL) 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.

Intel (INTC)

and Advanced Micro Devices will begin selling their

fastest-ever flagship processor.

CS First Boston upgrades Teva Pharmaceutical

(TEVA) to strong

buy from buy.

Goldman initiates coverage on Prudential Financial

(PRU) and to

recommended list. CS First Boston initiates coverage

with buy.

Kerry Group will acquire Stearns & Lehman

(SLHN) co. for about

$26 million, subject to adjustments. It currently

estimated shareholders will receive not less than $7.36 per share.

Tripos (TRPS)

entered into collaboration with Pfrier, to design,

synthesize, and purify high-quality, drug-like

compounds to expand

Pfizer's compound file

collection.

The president and COO of Cousins Prop () will step

down.

Corning (GLW)

will reopen four plants it idled, a signal that

demand may be growing in the

ailing telecom sector, according to press reports.

Vignette (VIGN)

sees $50M-$52M 4Q revenue, $0.04-$0.06 core net

loss. Vignette notes that

unanticipated level of client spending

decisions will be delayed

until 2002.

Talarian (TALR)

agreed to be acquired by Tibco Software for $5.30

per share in cash and stock, for a total value of

about

$115M, including assumption of

stock options.

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

alleging misstated

profitability.

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

marketing documents.

Intermune (ITMN) received Fast Track Designation

from FDA for Actimmune injection for treatment of

idiopathic pulmonary fibrosis.

Xerox (XRX)

intends to offer senior notes due 2009 in private placement, and expects to raise $500M.


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