Markets & Finance

MedImmune Drops


MedImmune (MEDI) says Wal-Mart (WMT) has decided not to establish a large-scale national flu vaccination program this season. Therefore, Wal-Mart won't be offering FluMist in its pharmacies this year. S&P reiterates buy on MedImmune.

WebEx Communications (WEBX) posted 25 cents, vs. 12 cents, third-quarter earnings per share (GAAP) on a 33% revenue rise. WebEx sees 20 cents to 25 cents fourth-quarter earnings per share (GAAP) on $50 million to $52 million in revenue. S&P reiterates avoid. Baird downgraded to neutral from outperform.

EBay (EBAY) posted 16 cents, vs. 11 cents, third-quarter earnings per share (GAAP) on an 84% revenue rise. The Internet auction company says fourth-quarter earnings per share (GAAP) could be as high as 19 cents, and 2003 earnings per share could be as high as 65 cents, on up to $2.1 billion in revenue. EBay says 2004 earnings per share could be as high as 91 cents, on revenue of up to $2.9 billion. Pacific Growth downgraded. S&P keeps hold.

Brooktrout (BRKT) posted 7 cents third-quarter earnings per share, vs. a 4 cents loss, on a 4.9% revenue rise. Brooktrout thinks fourth-quarter revenue will be $19.5 million to $21 million. The company set a one million stock buyback. Raymond James upgraded to strong buy from market perform.

DoubleClick (DCLK) posted 4 cents third-quarter earnings per share (GAAP), vs. a 46 cents loss as sharply lower operating costs offset flat revenue. The Internet advertising company sees breakeven to 3 cents fourth-quarter earnings per share (GAAP) on $69 million to $71 million in revenue. CIBC World downgraded to sector underperform.

Broadcom (BRCM) posted a 2 cents third-quarter loss (GAAP), vs. a 68 cents loss, on a 47% revenue rise. Citigroup downgraded to sell from hold.

Integrated Device Technologies (IDTI) posted 1 cent second-quarter earnings per share, vs. a 5 cents loss (GAAP), as a gain on equity investments offsets a 12% revenue drop. CIBC World upgraded to sector outperform from sector perform on valuation and enhanced customer ordering patterns.

Swift Transportation (SWFT) posted 29 cents, vs. 19 cents, third-quarter earnings per share on a 16% revenue rise. Legg Mason downgraded to hold from buy.

Lexar Media (LEXR) posted 12 cents, vs. 9 cents, third-quarter earnings per share on a sharp total revenue rise. Lexar raised the fourth-quarter and 2003 earnings per share guidance to 15 cents and 42 cents, respectively. SG Cowen reportedly upgraded to strong buy from market perform.

Needham downgraded Analogic (ALOG) to buy from strong buy.

Advanced Micro Devices (AMD) posted a 9 cents third-quarter loss, vs. a 74 cents loss, on an 88% sales rise. The chipmaker says it had strong sales growth in its microprocessor and Flash memory business lines, and was able to tightly manage its expense structure. Deutsche Bank reportedly upgraded to hold.

Xilinx (XLNX) posted 16 cents, vs. 11 cents, second-quarter earnings per share on a 14% revenue rise. Xilinx expects third-quarter revenue to increase 4%+/- sequentially. S&P maintains accumulate.

Rambus (RMBS) posted 5 cents, vs. 6 cents, third-quarter earnings per share as higher costs and expenses offset a 17% revenue rise.

Microchip Technology (MCHP) posted 17 cents, vs. 5 cents, second-quarter earnings per share (GAAP) on a 1% sales rise.The chipmaker sees 18 cents to 19 cents third-quarter earnings per share on $177 million to $179 million in sales. S&P reiterates buy.

Sun Microsystems (SUNW) posted a 9 cents first-quarter loss, vs. a 4 cents loss on an 8% revenue decline. S&P reiterates hold. h


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