After hours news -->
Pixar Animation (PIXR) 34.09 +0.06: -- Update -- On conference call, company upping guidance for 2001 EPS to $0.40-$0.55 from earlier guidance of $0.30-$0.50. First Call consensus is $0.42....Stock trading at 36.71.
IBM (IBM) 115.20 -1.78: CNBC reporting that Gerstner appears to hint at slightly better earnings for the year; says in analyst meeting that FY01 EPS growth will be in the double digits; current First Call consensus calls for 9.2% EPS growth.
Corio (CRIO) 1.33 -0.02: Eric Keller, CFO to leave the company upon the completion of a search for his replacement; see press release.
Electronic Arts (ERTS) 54.52 -1.53: Reports Q4 loss of $0.09 a share, $0.05 better than the First Call consensus of ($0.14), vs year-ago earnings of $0.08; revenues rose 4.4% to $307.30 mln from a year-ago of $294.30 mln; see press release.
StarMedia Ntwrk (STRM) 2.17 -0.16: Reports Q1 loss of $0.46 a share, $0.05 better than the First Call consensus of ($0.51); revenues rose 59.5% to $16.04 mln from a year-ago of $10.06 mln. Company to reduce cash operating expenses by approximately 30-35% of over the second half of 2001, will take a one-time charge of $4-6 mln in Q2; see press release.
NetZero (NZRO) 1.25 +0.07: Reports Q3 loss of $0.29 a share, $0.03 better than the First Call consensus of ($0.32); revenues fell 24.2% to $12.77 mln from a year-ago of $16.86 mln; see press release.
Juniper Networks (JNPR) 53.61 -3.76: More on the Buckingham Research-hosted Juniper call -- ABN AMRO spoke to Juniper's VP of Investor Relations, who told them that Juniper gave no guidance on the call. Also, there was talk of inventory issues being mentioned on the call, but Juniper has no inventories (it outsources all manufacturing). There was a question at the end of the call regarding any possible risks associated with a fully outsourced, inventory-less model, but obviously no mention of an inventory build-up at a company with no inventories.
Knight Transpo (KNGT) 27.30 +0.40: Company declares 3-for-2 stock split, payable May 18.
Data Return (DRTN) 2.96 -0.18: Reports Q4 loss of $0.36 a share, $0.01 better than the First Call consensus of ($0.37); revenues rose 21.6% to $14.39 mln from a year-ago of $11.83 mln. For Q1, Data Return expects revenue to remain roughly constant sequentially at between $13.5 and $14.5 mln; see press release.
Pixar Animation (PIXR) 34.09 +0.06: Reports Q1 earnings of $0.16 a share, $0.04 better than the First Call consensus of $0.12, vs year-ago earnings of $0.53; revenues fell 73.5% to $16.15 mln from a year-ago of $60.98 mln. Pixar also announced that it is raising projections for 2001 EPS from the previous range of $0.30 to $0.50, to a new range of $0.40 to $0.55; current consensus is $0.42 EPS; see press release.
Tut Systems (TUTS) 3.20 unch: Reports Q1 loss of $1.69 a share, (including an $18.5 mln charge for inventory allowances), excluding this charge the company loss $0.55 per share, the First Call consensus was ($0.62); revenues fell 70.3% to $4.89 mln from a year-ago of $16.47 mln; see press release.
Ocular Sciences (OCLR) 17.33 +0.68 : Reports Q1 earnings of $0.33 a share, $0.01 better than the First Call consensus of $0.32, vs year-ago earnings of $0.31; revenues rose 30.2% to $56.56 mln from a year-ago of $43.44 mln; see press release.
Wild Oats Mkts (OATS) 8.45 +0.21: Reports Q1 net of breakeven, $0.05 worse than the First Call consensus of $0.05, vs year-ago earnings of $0.23; revenues rose 3.9% to $219.50 mln from a year-ago of $211.24 mln. Company in the process of a major operational review that may result in significant changes to current business strategy and may have a negative impact on the company's financial projections for the remainder of 2001. OATS to postpone any further new store openings planned for 2001; see press release.
OmniSky (OMNY) 4.10 +0.85: Reports Q1 loss of $0.54 a share, $0.13 better than the First Call consensus of ($0.67); revenues rose 318.6% to $5.50 mln from a year-ago of $1.31 mln; see press release.
iGATE (IGTE) 2.71 +0.09: Reports Q1 earnings of $0.02 a share, $0.01 better than the First Call consensus of $0.01; revenues rose 8.5% to $119.47 mln from a year-ago of $110.09 mln. For Q2, company projects revenues to be flat to minimally down compared with the first-quarter; in addition, iGATE projects cash EPS of approximately $0.03, vs consensus estimate of $0.04; see press release.
15:00 -- 16:00 ET (Updated throughout the hour)******
Sanmina (SANM) 31.07 -0.74: Coming out of Merrill's EMS, Connector and Passive Components Conference; only positive company can report is that it is well positioned in EMS industry; indicated that next two quarters should be tough; firm notes that one of SANM's competitive advantages is the strength of its relationships with customers, average length 12+ years. Current growth strategy includes capitalizing on core competencies, targeting opportunities in high growth markets, expanding customer partnerships, enhancing manufacturing capabilities and broadening its geographic presence.
Cost Plus (CPWM) 26.08 +0.83: This afternoon, Wedbush Morgan reiterates STRONG BUY rating on the specialty retailer; cites better than expected comps of 4.4%.
Invitrogen (IVGN) 71.08 -0.97: Dain Rauscher Wessels reiterates STRONG BUY AGGRESSIVE following overview presented at Dain's Genes to Drugs Genomics and Life Sciences Conference.
Solectron (SLR) 25.46 -0.69: Update from Merrill's EMS, Connector and Passive Components Conference; SLR says they have not seen signs of improvement in demand in end markets but the PC sector has been more stable due to greater experience in managing inventory levels; company currently experiencing capacity utilization of less than 50% today, which is inline with expectations for the May quarter.
Avant Immun (AVAN) 4.90 -0.09: This afternoon, Dain Rauscher Wessels reiterates STRONG BUY SPECULATIVE as company has initiated second Phase IIb trial of TP10 in infants. New study follows broad pediatric population versus the high risk infants in the first Phase IIb trial.
Cypress Semi (CY) 22.34 -0.20: Coming out of Salomon's Semiconductor Conference; Cypress provides update, expects revenues for the year to decrease 30% sequentially to $900 mln; bookings for Q2 are expected to be about $205 mln, resulting in a book-to-bill higher than 1.0; sees computing segment recovering first with the best inventory profile overall and wireless to recover second, some time in early 2002. CapEx for the year going from $350 mln to $135 mln.
14:00 -- 15:00 ET (Updated throughout the hour)******
Sunrise Assisted (SNRZ) 22.32 -0.88: In an intraday note, Merrill Lynch downgrades to LT ACCUM from LT BUY. Excluding gains from assets sold in prior periods, Merrill contends that company actually reported EPS of $0.02 for the quarter, below firm's $0.04 estimate, believes this is the more meaningful metric and that shares would be more appropriately valued at roughly 9-10x EBITDAR, implying a price of around $16.
Flextronics (FLEX) 27.10 -1.38: This afternoon, Banc of America Securities comments on Wall Street Journal article today citing FLEX as the winner of new Lucent (LU) outsourcing deal; firm says they would not doubt it as FLEX has the liquidity, size, geographic flexibility, acquisition and communications prowess and vertical integration cost advantage.
Myriad Genetics (MYGN) 58.24 -0.07: This afternoon, Prudential reiterates STRONG BUY; ups price target to $83; cites improved future growth prospects, good expense control and notable update during conference call of drug candidate pipeline.
Renal Care Grp (RCGI) 26.36 -2.14: In an intraday call, Credit Suisse First Boston downgrades to BUY from STRONG BUY based on Amgen's (AMGN) wholesale price increase of Epogen by 3.9%. Firm estimates that up to $0.06 of their $1.75 2002 EPS estimate for Renal Care Group could be at risk owing to the pricing change from Amgen if RCGI is not able to negotiate additional discounts.
Service Corp (SRV) 5.68 +1.02: This afternoon, Merrill Lynch upgrades to NT ACCUM from NT NEUTRAL; to reflect operating improvements that company attained in Q1; additionally notes debt progress as SCI has paid down $259 mln in Q1 with an additional $107 mln to be paid shortly; firm raises estimates to reflect the operating improvements that SCI attained in the quarter, and also to give recogntion to the progress being made. |
