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.