Markets & Finance

Lexmark Jumps


Lexmark International (LXK) posted 79 cents, vs. 70 cents, third-quarter earnings per share on an 11% revenue rise. It sees 85 cents to 95 cents fourth-quarter earnings per share, and a mid-to-high single digit revenue rise. S&P reiterates accumulate. Merrill Lynch reiterates buy.

Eclipsys (ECLP) posted a 24 cents third-quarter loss, vs. a 38 cents loss, on a 43% revenue rise. The healthcare information-technology company says it has identified response time issues with some components of SunriseXA, its newest version of its Sunrise family of products.

Unilever (UN) confirmed the low double-digit earnings per share growth for 2003, but the revenue growth will be held back by some one-off factors in the first half, and a limited number of under-performing businesses. As a result, it now expects leading brand growth to be below 3%.

USB Piper reiterates its outperform rating on United Online (UNTD). Barron's says a recent drop in shares on news about more aggressive price moves by rival Internet service providers seems overdone.

Wells Fargo upgraded Labor Ready (LRW) to buy from hold.

E.Piphany (EPNY) posted a 6 cents third-quarter loss, vs. a 19 cents loss (GAAP), on a 22% revenue rise.

Vasogen (VSV) filed a preliminary short-form shelf prospectus with securities regulatory authorities in Canada, and a registration statement with the U.S. SEC, for the potential offering of up to $10 million of its stock.

Drugmaker Pozen (POZN) received a not-approvable letter from the FDA related to its new drug application for MT 300. FDA says MT 300 failed to achieve statistical significance, vs. a placebo, for relief at two hours of secondary symptoms of migraine.

The FDA requested that Endo Pharmaceuticals (ENDP) address certain questions, provide additional clarification and information, including some form of additional clinical trials to further confirm the safety and efficacy of both oxymorphone ER and oxymorphone IR. Endo developed the product with Penwest Pharmaceuticals (PPCO).

Merrill Lynch upgraded Synopsys (SNPS) to buy from neutral, and upgraded Cadence Design Systems (CDN) to neutral from sell.

BB&T Capital upgraded SCS Transportation (SCST) to strong buy from buy.

Deutsche Bank upgraded Aztar (AZR) to buy from hold on valuation.

Needham upgraded BTU International (BTUI) to buy from hold. Last week the company posted a 23 cents third-quarter loss per share, vs. a 24 cents loss.

3M (MMM), the maker of Post-It notes and industrial products, posted 83 cents, vs. 69 cents, third-quarter earnings per share on on 11% higher worldwide sales rise. The results beat analysts' average expectations of 79 cents earnings per share. 3M sees 73 cents to 75 cents fourth-quarter earnings per share, and raised the 2003 earnings per share guidance to $2.98-$3.00 (GAAP).

Citigroup (C), the world's largest financial services company, posted 90 cents, vs. 76 cents, third-quarter earnings per share on a 9.9% rise in revenue, net of interest expense. Analysts were expecting an average of 85 cents earnings per share.

Novartis (NVS) reportedly posted $1.28 billion, vs. $1.19 billion, third-quarter net income.

Southwest Airlines (LUV) posted 13 cents, vs. 6 cents (excluding items), third-quarter earnings per share -- in-line with the average analyst estimate -- on 12% higher total operating revenue.

Shire Pharmaceuticals (SHPGY) received an approvable letter from the FDA for Adderall XR, a once-daily treatment for adult attention deficit hyperactivity disorder.

Check Point Software (CHKP) posted 23 cents, vs. 25 cents, third-quarter earnings per share as an increase in taxes, shares outstanding, and expenses offset a 2.7% revenue rise.

Freight hauler Arkansas Best (ABFS) posted 67 cents, vs. 73 cents (including one-time gains), third-quarter earnings per share on a 7.3% revenue rise.

Toymaker Hasbro (HAS) posted 38 cents, vs. 32 cents, third-quarter earnings per share on an 18% revenue rise.


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