Markets & Finance

Halliburton Climbs Despite Debt Rating Cut


Halliburton (HAL) posted $0.33 Q4 EPS vs. a $0.05 loss from continuing operations despite flat revenue. Credit rating agency Moody's downgraded its debt rating on concerns about Halliburton's asbestos liabilities. CIBC World maintains its buy rating on Halliburton shares. Morgan Stanley maintains its outperform rating on the stock.

Applera-Applied Biosystems (ABI) posted $0.24 vs. $0.25 2Q EPS (pro forma) from operations on flat revenues. S&P, CS First Boston, DB Alex Brown downgrade. SG Cowen, USB Piper reportedly downgrade.

Tollgrade Communications (TLGD) posted $0.15 vs. $0.58 Q4 EPS on 50% revenue drop, and sees $16M-$18M Q1 revenue, $0.06-$0.10 EPS.

Aspen Technology (AZPN) posted breakeven Q2 vs. $0.09 loss on flat revenue. RW Baird and CE Unterberg upgrade.

RW Baird upgraded A O Smith (AOS) to strong buy from market perform. Goldman raises estimates. On Wednesday the company posted better than expected $0.04 4Q EPS from operations.

Turnstone (TSTN) posted a $0.06 Q4 loss vs. $0.07 EPS (adjusted) on sharply lower revenue. DB Alex Brown upgrades to buy from market perform.

S&P downgraded C R Bard (BCR) to hold, saying Tyco's plan to split into four independent business units, and the negative market reaction to news, could lead to the collapse of Tyco's planned merger with Bard.

Genzyme General (GENZ) sees $1.40-$1.46 2002 EPS on $1.15B-$1.20B revenue. EPS guidance is a bit lower than $1.47 consensus. S&P reiterates strong buy.

Citrix Systems (CTXS) posted $0.13 vs. $0.10 Q4 EPS on 28% revenue rise. CE Unterberg downgraded to neutral from buy. First Albany reportedly downgraded. S&P reiterates buy.

Matrixone (MONE) posted a $0.20 Q2 loss vs. $0.04 EPS on a 9.2% revenue drop. RBC Capital and Adams Harkness upgrade.

Micromuse (MUSE) posted $0.04 vs. $0.10 Q1 EPS (pro forma) on 20% revenue decline. Salomon, Prudential upgrade. Janney Montgomery downgrades to hold.

Bristol-Myers Squibb (BMY) posted $0.59 vs. $0.54 Q4 EPS (continuing operations, stand-alone basis) on 10% sales rise (including foreign exchange effects). The company expects Q1 EPS to decline between 10%-15% from year ago, confirms $2.25-$2.35 2002 EPS guidance.

Eastman Kodak (EK) posted $0.12 vs. $0.68 Q4 EPS from operations on 6% lower sales. The company sees $0.05-$0.15 Q1, and $0.60-$0.70 Q2 EPS; Kodak also sees $2.00-$2.60 2002 EPS (including. $0.45 associated with adoption of a new accounting rule, FAS 142).

Nokia (NOK) posted EUR 0.24 vs. EUR 0.25 Q4 EPS (pro forma) on 5.3% revenue drop.

Webmethods (WEBM) posted $0.05 Q3 loss vs. $0.05 EPS on 17% revenue drop. CS First Boston raises estimates, target.

Sara Lee (SLE) posted $0.37 vs. $0.43 Q2 EPS from operations despite 5% revenue rise. Expects Q3 EPS to fall within $0.29-$0.32 range, fiscal 02 in $1.37-$1.40 range.

Kimberly Clark (KMB) posted $0.82 vs. $0.87 Q4 EPS from operations despite 3% sales rise (excluding forex).

Earthlink (ELNK) will offer EarthLink High Speed Internet service to all U.S. Compaq customers who purchase a new Presario

Internet PC.

Siebel Systems (SEBL) posted better than expected $0.13 vs. $0.15 Q4 EPS on 17% lower revenues. JP Morgan upgrades to buy.

S&P, Goldman raise estimates.

Activision (ATVI) posted $0.66 vs. $0.45 Q3 EPS on 40% revenue rise.

Raises $0.73 fiscal 2002 EPS guidance to $0.82, $0.85 fiscal 2003 to $0.94. CS First Boston reiterates buy.

Citrix Systems (CTXS) posted $0.13 vs. $0.10 Q4 EPS on 28% revenue rise. First Albany reportedly downgrades to neutral from buy. S&P reiterates buy.

QLogic (QLGC) posted $0.20 vs. $0.28 Q3 EPS (pro forma) on 14% revenue decline. S&P maintains hold.

Celera Genomics (CRA) posted a $0.29 Q2 loss vs. a $0.49 loss on 72% revenue rise. Still sees 40%-50% fiscal 02 revenue rise.

S&P maintains hold.

EMC Corp. (EMC) posted a $0.03 Q4 loss vs. $0.25 EPS on 42% lower revenue.

Lexmark International (LXK) posted $0.46 vs. $0.64 Q4 EPS from operations as higher operating costs offset 5% revenue rise. Sees $0.43-$0.53 Q1 EPS on flat revenue.

Amgen (AMGN) posted $0.30 vs. $0.24 Q4 EPS (pro forma) on 14% sales rise. S&P maintains buy.

FDA approves Atrix Labs (ATRX) Eligard 7.5 leuprolide acetate for subcutaneous injection for treatment of advanced prostate cancer. Leerink & Swan, RBC Capital upgrade.

MedCath Corp. (MDTH) raised Q1 EPS guidance to $0.21-$0.23 range, revenue to $113M-$115M.

Inhale Therapeutics(INHL) posted a $0.37 Q4 loss (adjusted) on

revenue of $24.2M. Needham downgrades to hold

from buy. S&P maintains hold.

Matria Healthcare (MATR) is seen lower on New England

Journal of Medicine article on home uterine activity monitoring. Matria says the article attempts to discredit

home obstetrical care.


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