) downgraded to underperform from market perform. S&P downgraded to hold from buy.
) reached an agreement with its creditors.
JP Morgan cut King Pharmaceuticals' (KG
) $55 targe to $35.
Darden Restaurants (DRI
) posted $0.40 vs. $0.33 Q4 EPS on an 8.4% sales rise. Morgan Keegan downgraded to market perform from outperform. S&P reiterates hold.
Black Box (BBOX
) ST Robinson Humphrey says the recent loss of a Home Depot contract indicates Q2 EPS and a revenue shortfall is likely.
Lehman Brothers downgraded Allegheny Energy (AYE
) to market perform to buy.
American Healthways (AMHC
) posted $0.16 vs. $0.06 Q3 EPS on a 71% revenue rise and raised the $0.55-$0.57 fiscal 2002 EPS guidance to $0.57-$0.58, and sees $1.00-$1.04 for fiscal 2003 EPS. Wachovia downgraded to buy from strong buy.
) sees $0.20 Q3 EPS (pro forma) on $380M revenue, and $0.17-$0.20 Q4 EPS. Amdocs will cut workforce by 8%-10%. Salomon SB, JP Morgan and Janney Montgomery downgraded.
) expects to meet or exceed the high end of previously announced its Q3 EPS range of $0.21-$0.23, and says it is experiencing strong order input for Q4.
Bed Bath & Beyond (BBBY
) posted $0.15 vs. $0.10 Q1 EPS on 13.2% higher same store sales, and sees $0.23 Q2 EPS, and $0.93 for fiscal 2003. S&P raised estimates and rates accumulate.
The FDA reportedly issued a not approvable letter for AstraZeneca 's (AZN
) Casodex 150 mg supplemental NDA for treatment of non-metastatic prostate cancer.
) reportedly says it would be challenged to meet its 2002 EPS target of $1.50-$1.60. S&P downgraded to hold, and puts estimates under review.
Morgan Stanley upgraded Metlife (MET
) to overweight from equal-weight.
Morgan Stanley downgraded Xcel Energy (XEL
) to equal-weight from overweight.
Salomon upgraded Dell Computer (DELL
) to buy from netural.
) and its pharmacy-benefits unit have boosted reported revenue by billions of dollars in 2001 alone through an accounting practice not used by some of the unit's competitors, according to The Wall Street Journal.
) agreed to sell its Quicken Loans mortgage business. Reflecting the sale, Intuit sees $0.95 fiscal 2002 EPS (pro forma) on $1.355B revenue, and raised fiscal 2003 guidance to $1.25-$1.31 EPS on revenue of $1.65B-$1.725B.