Cypress Semi (CY) 22.11 +0.11: Coming out of Merrill's Hardware Technology Conference, CY reiterates Q2 revenues in the range of $200-210 mln; does not expect to see a recovery in the WAN/SAN market until early 2002 with no real reduction in inventory in March quarter.
Crown Castle (CCI) 22.39 -0.43: This afternoon, Credit Lyonnais maintains BUY recommendation with strong Q1 numbers; says fundamentals overall remain strong.
Rambus (RMBS) 15.40 -2.75: -- Update -- In a press release company says that it plans to appeal today's court ruling; also notes that ruling only involves 4 patents and that there are a dozen US and European patents involved in other infringement cases that are still pending against IFX, Hyundai, and Micron (MU); see press release.
Rambus (RMBS) 15.50 2.65: -- Update -- This afternoon, Morgan Stanley downgrades to NEUTRAL from STRONG BUY after judge in the RMBS/Infineon case granted Infineon (IFX) motion for summary judgment; says basically ruling against RMBS's patent infringement claims; sees downside for the stock in the range of $10-12; sees no near-term catalysts for stock.
Aperian (APRN) 1.30 -0.11: Provider of high-speed Internet connectivity solutions, and co-location/web-hosting services announces resignation of co-CEO Robert Gibbs and COO Wayne Irwin; see press release.
14:00 -- 15:00 ET (Updated throughout the hour)******
Aremissoft (AREM) 15.93 +0.73: Developer and marketer of enterprise-wide applications software completes acquisition of Fourth Shift; see press release.
Archstone (ASN) 23.80 -1.38: -- Update -- In an afternoon call, Merrill Lynch downgrades to NT ACCUM from NT BUY. Company recently agreed to buy D.C. based apartment owner, Charles E Smith, for $3.6 bln; firm says ratings change based on contention that SN could have allocated $3.6 billion of capital into its more economically accretive investments over the next several years.
Razorfish (RAZF) 1.37 +0.15: In their Tech Intra-Daily, CSFB downgrades to HOLD from BUY; cites weak market for RAZF services continued to adversely affect operating metrics; continued soft demand does not provide visible, near-term catalyst.
Advanced Micro (AMD) 30.60 -2.01: Company and Intel renew patent cross-license agreement; specific terms of the 10-year agreement are confidential; companies have signed four patent cross-license agreements since 1976; see press release.
Wind River Sys (WIND) 23.78 -2.40: -- Update -- Prudential Securities in their Noon Research report says they are maintaining their STRONG BUY rating despite yesterday's Q1 top-line shortfall, with EPS roughly in-line with estimates; although near-term visibility is foggy, thinks WIND remains dominant in key space.
13:00 -- 14:00 ET (Updated throughout the hour)******
Storage Business : This afternoon, AG Edwards reiterates ACCUMULATE rating on BRCD, ups price target to $55 from $45; EMLX reiterates BUY, ups price target to $60 from $45; QLGC reiterates ACCUMULATE, ups price target to $55 from $35; VRTS ACCUMULATE, ups target to $80 from $65. Analyst reports that there are signs of a turnaround in the sector for these stocks; notes that at EMC budgets stabilizing, Emulex order deferrals stopping, Brocade, pickup in April.
iVillage (IVIL) 1.05 -0.17: Update, yesterday First Call revised their EPS estimate for Q1 to a loss of $0.38 vs previous loss of $0.34; firm reported earnings in-line with consensus estimates; see press release. |
