Markets & Finance

MRO Software Drops


Xcel Energy (XEL) sees lower than expected $0.30-$0.35 Q1 EPS vs. a year ago's $0.61, noting a number of factors, primarily at its 74%-owned subsidiary NRG Energy. S&P cut estimates.

RBC Capital thinks there is an upside to Manugistics (MANU) shares near-term, and raised his $23 target to $25.

Ista Pharmaceutical (ISTA) says preliminary data for two Phase III clinical trials of Vitrase for treatment of vitreous hemorrhage didn't show significant improvement. CIBC World downgraded to hold.

Internet Securities (ISSX) is seen lower as Robertson Stephens is out with comments that Q1 is tracking below plan.

Borgwarner (BWA) raised Q1 EPS guidance to $1.10-$1.15, and raised 2002 to $4.90-$5.10, both excluding acctounting principles for goodwill.

MRO Software (MROI) expects a $0.08-$0.15 Q2 loss (pro forma) on $37M-$39M revenue, significantly below its previous $47M-$48M guidance.

Goldman says Brocade Communications (BRCD) is likely to report Q2 that should meet or exceed consensus revenue and EPS estimates. S&P maintains avoid. On Monday the company held an analyst meeting.

ESS Technology's (ESST) CFO James Boyd says management it expects Q1 revenues of about $75M vs. previous guidance of $68M-$70M. The company noted strong DVD sales and market share gains.

Dura Automotive (DRRA) sees stronger than expected $0.58-$0.62 Q1 EPS on $605M-$615M revenue, and $2.30-$2.40 2002 EPS on $2.25B-$2.35B revenue. The company also posted $0.07 Q4 EPS from operations on 12% lower revenue. RW Baird upgraded.

Morgan Stanley (MWD) posted $0.76 vs. $0.94 Q1 EPS on 16% lower net revenue.

The SEC began its "Formal Order of Private Investigation" into Network Associates's (NET) accounting practices during 2000. The company will postpone its commencement of a proposed offer to acquire McAfee.com (MCAF). JP Morgan downgraded to market perform.

Pennzoil-Quaker (PZL) agreed to be acquired by Shell Oil Co., a unit of Royal Dutch Petroleum (RD), for $22 cash per share, or total of about $1.8 billion.

A U.K. researcher reportedly sees a possible link between Eli Lilly's (LLY) Prozac antidepressant drug and brain cancer. Lilly notes there's no evidence from clinical trials on people to back up concerns.

Travelocity.com (TVLY) will acquire Site59 for $43M in cash.

Liberate Technology (LBRT) posted a $0.05 Q3 loss vs. a $0.09 loss (pro forma) on a 65% revenue rise and sees a $0.05-$0.06 Q4 loss (pro forma) on revenue of $25M-$25.5M. CS First Boston raised estimates.

Liqui-Box (LIQB) agreed to be acquired by DuPont Canada Inc. in a $333 million deal. Terms: $67 cash per LIQB share.

Entegris (ENTG) posted a $0.02 Q2 loss vs. $0.26 EPS from operations on a 52% revenue decline, and expects 10% sequential Q3 sales growth, which should translate into profitability.

Layne Christen (LAYN) posted a $0.04 Q4 loss vs. a $0.14 loss despite an 8.8% revenue drop and expects some softness in the water, minerals and energy markets in the first half of fiscal 2003.

Alpharma (ALO) voluntarily recalled its Cromolyn Sodium Nasal Solution USP product. The company says expenses to recall the product were either accrued in Q4 2001, or have been factored into the company's previously announced financial guidance for 2002.

Curon Medical (CURN) received 510(k) clearance from FDA of its Secca System for treatment of fecal incontinence in patients who have failed more conservative therapy.


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