Markets & Finance

Synopsys Sinks


Synopsys (SNPS

) posted 33 vs. 34 first-quarter earnings per share (pro forma) despite a 6% revenue rise. It sees 31 cents to 35 cents second-quarter earnings per share on revenue of $285 million to $300 million. Synopsys agreed to acquire Monolithic System Technologies (MOSY

) in a cash and stock deal valued at $432 million. SG Cowen downgraded. S&P maintains hold. Monolithic shares rose, but Synopsys shares declined.

Photronics (PLAB

) announced the resignation of CEO Dan Del Rosario. S&P downgraded to hold from accumulate. Schwab SoundView says the departure is likely to place an overhang on shares, but the brokerage firm keeps its outperform rating.

Odyssey Healthcare (ODSY

) posted 23 cents, vs. 19 cents fourth-quarter earnings per share on 37% net patient service revenue growth. It sees 20 cents to 22 cents first-quarter earnings per share, and $1.03 to $1.05 2004 earnings per share.

Guidant (GDT

) will co-promote Johnson & Johnson (JNJ

) unit Cordis Corp.'s Cypher Sirolimus-eluting coronary stent. Merrill Lynch upgraded to buy from neutral. S&P keeps hold.

NetFlix (NFLX

) widened the first-quarter net loss (GAAP) guidance to a $5.6 million to $8.1 million loss from the previous guidance of a $1.2 million to $3.7 million loss. The subscription video-rental company cited rapid subscriber growth, and marketing expenses related to acquiring new subscribers. First Albany downgraded to neutral from buy.

Home Depot (HD

) posted 40 cents, vs. 30 cents fourth-quarter earnings per share on 7.6% higher same-store sales. The home-improvement retailer reiterated the fiscal 2005 sales growth guidance of 9% to 12%, and earnings per share growth of 10% to 14%, excluding an accounting change.

Federated Department Stores (FD

) posted $2.29, vs. $1.78 fourth-quarter earnings per share from continuing operations on 1.4% higher same-store sales. As a result of February sales trending ahead of expectations, the company revised the February same-store sales forecast to an increase of 7% to 8%.

UBS Financial reportedly upgraded Boston Scientific (BSX

) to buy from neutral. On Monday the company provided a bullish outlook for the 2004-06 timeframe.

CS First Boston upgraded Too (TOO

) to outperform from neutral.

Heinz (HNZ

) posted 57 cents, vs. 54 cents third-quarter earnings per share on flat sales. The condiments maker says it's on target to achieve $2.19 to $2.21 fiscal 2004 earnings per share guidance, and is on pace for record cash flow.

A U.S. District Court rejected claims by scientist Henry Huang to having invented patented DNA sequencing technology used in DNA sequencing instruments by Applied Biosystems Group (ABI

), a unit of Applera Corp. An earlier version of this item taken from Standard & Poor's identified Henry Huang as an Applera scientist. Henry Huang is not an employee of Applera or Applied Biosystems. We apologize for this error.

United Therapeutics (UTHR

) posted a 15 cents fourth-quarter loss, vs. a 12 cents loss as higher costs offset a 13% revenue rise.

Clear Channel Communications (CCU

) posted lower than expected 30 cents, vs. 30 cents fourth-quarter earnings per share on a 4% sales rise. It expects operating income will increase in the low double digits, and says earnings per share will increase in the mid-to-high teens for 2004.

Novell (NOVL

) posted 3 cents first-quarter earnings per share, vs. a 3 cents loss on a 2.7% revenue rise.

Smithfield Foods (SFD

) posted 38 cents, vs. 3 cents third-quarter earnings per share from continuing operations on a 50% sales rise. Smithfield notes the current quarter was adversely affected by $11 million in costs and inefficiencies in the beef segment related to the market impact of a reported case of BSE in Washington state.


Later, Baby
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