Markets & Finance

Novo-Nordisk Drops


Raymond James upgraded Ryanair Holdings (RYAAY) to strong buy from buy.

SoundView cut estimates and the target on Siebel Systems ( SEBL).

Sears Roebuck (S) sees $0.93 vs. $0.45 Q1 EPS, citing strength in its Retail segment, and a focus on margins and expenses.

Needham upgraded Cisco to buy from hold.

Wachovia upgraded Tommy Hilfiger (TOM) to strong buy from buy.

In response to inquiries about its ongoing settlement talks with Intel, Intergraph Corp. (INGR) says discussions are continuing, and all litigation between the parties is being considered in these discussions.

Nautica Enterprises (NAUT) sees a $0.25-$0.26 Q4 loss (including charges and markdown allowances). Excluding charges, Nautica sees $0.01-$0.02 Q4 EPS, and $0.76-$0.77 for fiscal 2002. Wells Fargo cut estimates.

UBS Warburg upgraded Allergan (AGN) to buy from hold.

Asbury Automotive (ABG) expects to exceed analysts' $0.29 Q1 EPS consensus by about 10% and says it is comfortable with $1.51-$1.53 2002 EPS estimate.

Cross Media Market (XMM) says the Federal Trade Commission filed a complaint alleging telemarketing violations by the company's magazine division.

Novo-Nordisk (NVO) sees lower than expected Q1 sales, says 2002 sales are not likely to reach previous guidance. As a result, the company cut its 2002 operating profit growth from 15% to 5%-10%, excluding out-licensing of NN622.

Genentech (DNA) posted $0.22 vs. $0.17 Q1 EPS (pro forma) on a 14% revenue rise, citing strength in biooncology products.

American Eagle Outfitters (AEOS) sees lower than expected $0.14-$0.17 Q1 EPS, citing lower than expected sales in February and March.

Research In Motion (RIMM) posted a $0.14 Q4 loss vs. a $0.10 loss on 6.8% lower revenue. S&P maintains hold.

The SEC has informed two former Xerox (XRX ) executives, and a partner at office equipment maker's auditor, KPMG, that it may file civil charges against them, according to press reports.

Cisco (CSCO) fell Tuesday amid amid speculation it might report disappointing quarterly results.

Idec Pharmaceutical (IDPH) sees $0.17 Q1 EPS, based on $235M sales of Rituxan, a drug co-developed with Genentech.

Palm Harbor Home (PHHM) expects Q4 EPS to be lower current analysts' estimates, saying the current state of credit markets poses a significant challenge for the entire manufactured housing industry.

Pegasystems (PEGA) was advised by the SEC that pending investigation against the company, and against current and former employees, has been terminated with no enforcement action being recommended.

Infosys Technology (INFY) posted $0.32 vs. $0.29 earnings per ADS on a 16% revenue rise, and sees $141M-$143M Q1 revenue, $0.32 EPADS, and $636M-$654M fiscal 203 revenue, as well as $1.43-$1.47 fiscal 2003 EPADS.

Panera Bread (PNRA) set a 2-for-1 stock split.


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