is seen lower on a Moody's statement that investigations of investment banks could lead to criminal indictments and ratings cuts.
S&P downgraded Sun Microsystems (SUNW
) to accumulate from buy.
) signed a non-binding letter of intent to sell up to $20M of common stock in private placement to institutional investor at discount to current market price.
Express Scripts (ESRX
) announced in an SEC filing that neither the company nor its DPS unit are targets in a U.S. Attorney's Office investigation... SWS Securities upgraded to strong buy.
) sees $0.38 EBG, $0.02 above consensus, on $185M-$186M revenue. S&P upgraded to hold from avoid.
Wild Oats Market (OATS
) posted $0.03 Q1 EPS vs. breakeven on 6.2% higher sales. RBC Capital upgraded to outperform from sector perform.
) posted $0.25 Q1 EPS vs. a $0.07 loss from continuing operations on a 44% revenue rise. In an 8-K filed on May 3, the company says it dismissed Arthur Andersen LLP as its auditors.
) agreed to acquire Widia Group in Europe and India from Milacron for EUR 188 million.
Michaels Stores (MIK
) announces that Bryan M. DeCordova, exec. vice president and CFO, plans to leave the company in the fall after an orderly transition.
) sees lower than expected $0.14-$0.16 Q1 EPS (pro forma) on $227M-$229M revenue.
SoundView upgraded Motorola (MOT
) to strong buy from buy.
Computer Network (CMNT
) sees a $0.10-$0.15 Q1 loss from continuing operations on $45M revenue, below estimates. The company citesd soft IT spending and project delays.
) cut Q4 guidance to about $145M sales, and a $0.21-$0.32 cash loss. Pemstar agreed to privately place up to $50M of convertible notes. Lehman downgraded to buy. JP Morgan reportedly downgraded to market perform.
BMC Software (BMC
) posted $0.12 Q4 EPS from operations on 22% lower total revenue and sees $0.07-$0.09 Q1 EPS, and $0.46-$0.52 fiscal 2003 EPS on $1.352B-$1.376B revenue.
Peregrine Systems' (PRGN
) board authorized an audit committee to conduct an internal investigation into potential accounting inaccuracies. CEO Steve Gardner and CFO Matt Glass resigned. The shares were sharply lower in pre-market trading.
Church & Dwight (CHD
) posted $0.42 vs. $0.33 Q3 EPS from operations on a 13% sales rise.
) posted a $0.03 Q3 loss vs. a $0.48 loss (including reserve for a litigation settlement) on flat sales, citing an unfavorable product mix, and an increase in medical R&D related to the redesign of its Neuroaspirator product.
) says its investigational tumor-targeting agent, IL13-PE38, was designated as fast track drug development program by FDA for treatment of malignant glioma.
Sulzer Medica's (SM
) Sulzer Spine-Tech unit received FDA approval to begin marketing its BP/Lordotic Interbody Fusion Device for use in anterior lumbar fusions.