I was so relieved to see BEAS was still up tonight when I got home..
After seeing the close of the Nasdaq, I was almost afraid to look! All things considered, it was a nice gain.
Glad to see that BEAS was on the stocks to watch list.
cbs.marketwatch.com;
Sycamore, Hyperion, Tivo
By Michael Baron & Jason Margolis, CBS.MarketWatch.com
Last Update: 5:21 AM ET Apr 6, 2001
Stocks to watch
European antitrust enforcers have started an investigation of Intel Corp's (INTC: news, msgs, alerts) business tactics, the Wall Street Journal reported in its online edition Friday. The investigation by the European Commission is focused in part on the exclusionary effects of Intel's marketing efforts, including the "Intel Inside" marketing subsidies, the Journal said, citing lawyers close to the case. Intel shares soared $3 or 13 percent to $25.63 on Thursday.
Sycamore Networks (SCMR: news, msgs, alerts) shares sank 32 percent in the evening session Thursday after the optical networking company warned that fiscal third-quarter revenue would come in below previous forecasts due to slower customer orders. Quarterly revenue is now expected to come in between $50 million to $60 million, with a pro forma net loss in the range of 16 to 19 cents a share. Analysts surveyed by First Call/Thomson Financial project a profit of a nickel a share. Sycamore also said it plans to cut about 140 employees. Sycamore shares climbed $1.41, or 18 percent, to $9.06 in the regular trading session. The stock dropped $3.03 to $6.03 in after-hours trading.
After the market closed, Hyperion Solutions (HYSL: news, msgs, alerts) warned that fiscal third-quarter results would come in lower than expected due to the slowdown in the U.S. economy. Quarterly revenue is forecast in the range of $122 million to $127 million and earnings per share from a loss of 4 cents to a profit of a penny a share, below Wall Street expectations of 7 cents a share. The business analysis software firm's shares climbed 14 percent, or $2 to close at $15.88 ahead of the news.
Agilent Technologies (A: news, msgs, alerts) said that all its employees will take a 10 percent pay cut and a hiring freeze is in effect, in an effort to save the company $70 million per quarter. The Palo Alto, Calif. -based company said in a statement that it's trying to avoid "across-the-board" layoffs in response to cyclical market conditions. The pay measures are supposed to last through the fiscal third quarter, which ends July 31. Agilent shares closed up $2.53 at $30.62, but fell to $28.49 in the after-hours session. See full story.
Tobacco stocks may rise Friday after a Miami-Dade County Circuit Court jury ruled in favor of Brown & Williamson and other tobacco companies in the first individual flight attendant case regarding second hand smoke. Maria Fontana, a former TWA flight attendant, is the first case of more than 3,000 individual claims that are expected to go to trial in Miami over the next few years. The court found that Marie Fontana's injuries were not a result of exposure to environmental tobacco smoke (ETS). The claims arise from the landmark U.S. class action suit which has already cost big tobacco companies $349 million. The court victory is the seventh straight win for the tobacco company since January 1, 2001. Brown & Williamson, known for its Lucky Strike, Capri and Misty brands, is the nation's third largest tobacco manufacturer. Philip Morris (MO: news, msgs, alerts) shares closed up 61 cents at $46.23 ahead of the news.
Tivo (TIVO: news, msgs, alerts) said it plans to cut 25 percent of its work force as part of a move to become self-sufficient. The personalized television service said it was trying to cut its "cash burn-rate" by $60 million for the current fiscal year, which ends Jan. 31. Cost reductions would amount to 35 percent overall. Tivo offered no indication on how many people would be cut from the company's ranks. Tivo shares rose 27 percent, or $1.09 to close at $5.13 ahead of the news. See full story.
Starbucks (SBUX: news, msgs, alerts) said, after the closing bell, that same-store sales in March rose 5 percent, year-to-year. For the five weeks that ended April 1, revenues grew 23 percent to $252 million from $205 million last year. In March, Starbucks opened its 4,000th store worldwide and its 500th location in the Asia-pacific region, Chairman Howard Schultz said. He also reiterated earnings projections of 91 cents to 93 cents a share, or 46 percent once the 2-for-1 stock split is completed April 27. The stock traded unchanged to close at $40.94 ahead of the news.
Advancers for Thursday
Akamai (AKAM: news, msgs, alerts) shares jumped 25 percent despite the company's forecast that first-quarter revenue would come in between $39 million to $41 million, compared with the company's previous projection of $45 million. The company, which runs Internet servers, also said that it will report a narrower-than-expected loss of $35 million to $38 million, compared to a previous estimate calling for a loss of $45 million. Cambridge, Mass.-based Akamai also intends to cut 14 percent of its work force. Akamai shares rose $1.50 to close at $7.50.
Alcoa (AA: news, msgs, alerts) rose 5.5 percent after the Pittsburgh aluminum firm and Dow component reported first-quarter earnings of $404 million, or 46 cents a share, up from a year-ago profit of $347 million, or 47 cents a share, and 3 cents ahead of Wall Street expectations. Sales rose 37 percent in the latest three months to $6.18 billion from $4.5 billion in the same period a year earlier. The stock added $1.95 to $37.50.
BEA Systems (BEAS: news, msgs, alerts) jumped 31 percent to $27.12. Bill Coleman, BEA's founder, chairman and chief executive officer, was scheduled to make a presentation at a private luncheon hosted by Morgan Stanley (MWD: news, msgs, alerts) Thursday. In a press release after Wednesday's closing bell, the company said Coleman would reaffirm management's confidence in the increased guidance provided in BEA's conference call on Feb. 22.
Bed Bath & Beyond Inc. (BBBY: news, msgs, alerts) leapt 9.4 percent after the home products retailer reported fourth-quarter earnings of $64.3 million, or 22 cents a share, beating the consensus estimate by a penny. In the year-ago period, the company earned $48.4 million, or 17 cents. Sales reached $746.1 million, up 31 percent compared with the year-ago total. The stock added $2.31 to $26.93.
Dell Computer (DELL: news, msgs, alerts) jumped 13 percent to $25 after the Round Rock, Texas, direct computer seller reaffirmed its targets for earnings of 17 cents a share on revenue of roughly $8 billion in the first quarter at a meeting with analysts in New York.
Dollar Tree Stores (DLTR: news, msgs, alerts) advanced 7 percent to $20 after the discount retailer reported first-quarter sales rose 18.4 percent to $387.3 million from $327.1 million in the same period a year earlier. Same-store sales for the period were flat. The company said this performance is slightly higher than its revised outlook from March 14. Dollar Tree did caution that it continues to believe that same-store sales could fall by more than 10 percent in the second quarter.
Emulex (EMLX: news, msgs, alerts) surged 36 percent after the company lowered its third-quarter estimates due to a continuation of the downturn in storage networking demand. The company now expects to report revenue of $59 million to $60 million, down 15 percent from the sequential second quarter. Earnings for the period will be approximately 13 cents per share, compared with the average analyst EPS estimate compiled by First Call/Thomson Financial of 19 cents. Emulex added that it had instituted cost-cutting measures to contain operating expenses, but noted that it had just added 100 employees with the recent acquisition of Giganet. The stock rose $4.50 to $17.
Genter Communications (GTNR: news, msgs, alerts) advanced 13 percent after the Salt Lake City provider of business communications products reiterated projections for earnings of at least 68 cents a share and revenue growth of between 40 and 50 percent in the fiscal year ending June 30. Analysts polled by First Call/Thomson Financial are slightly more optimistic about the company's prospects, forecasting earnings of 71 cents a share, on average. The stock added $1.25 to $11.
ImClone Systems (IMCL: news, msgs, alerts) gained 16 percent to $31 after the company disclosed it has received a U.S. patent covering the therapeutic combination of monoclonal antibodies and chemotherapeutic agents for use in cancer treatment. ImClone's monoclonal antibody, IMC-C225, is designed to block the Epidermal Growth Factor Receptor (EGFR), which is expressed on cancer cell surfaces. IMC-C225 is currently under study in Phase II and Phase III trials.
International Speedway (ISCA: news, msgs, alerts) rose 10 percent after the promoter of motorsports events reported first-quarter earnings of $22.8 million, or 43 cents a share, up from a year-ago profit of $16.1 million, or 30 cents a share, and 3 cents ahead of the average estimate of analysts polled by First Call/Thomson Financial. Revenue rose to $120.7 million in the latest three months to $111.6 million in the same period a year earlier. The company attributed the strong results to "record attendance" at several of its major events. The stock rose $3.80 to $40.
NetZero (NZRO: news, msgs, alerts) jumped 38 percent to 68 cents after the Westlake Village, Calif.-based provider of free and pay Internet access services struck a two-year agreement with IBM (IBM: news, msgs, alerts) . Terms call for NetZero to become a provider of dial access services for IBM's Affinity sales programs. In particular, NetZero is looking to opportunities to bundle Platinum, its banner-free service for which users pay a subscription fee up front, for sale with Big Blue's personal computers.
ON Semiconductor (ONNN: news, msgs, alerts) surged 11 percent after the company said it plans to trim $100 million from its annual manufacturing expenses, cutting roughly 630 jobs as part of the effort. ON shares added 43 cents to $4.44.
OpenTV (OPTV: news, msgs, alerts) jumped 21 percent, or $1.37 to $8.06 after the interactive television and media firm announced, along with DISH Network (DISH: news, msgs, alerts) , that more than on million DISH satellite TV receivers are now providing interactive television through OpenTV.
PacifiCare Health Systems (PHSY: news, msgs, alerts) added 9 percent to $26.06 after the company reaffirmed its forecast for earnings of 35 cents a share in the first quarter and $2.94 a share in fiscal 2001. The Santa Ana, Calif., health care services firm also disclosed that its daily balance of free cash averaged $186 million in March and that membership enrollment tracked along its prior guidance to a planned member-month decline of 7 to 8 percent in 2001 from 200 levels.
Peregrine Systems (PRGN: news, msgs, alerts) gained 39 percent after the San Diego, Calif., software firm said it would report fourth-quarter earnings, excluding items, of 16 cents a share on revenue of $170 million, in line with current Wall Street expectations. License revenue is forecast at $105 million. Peregrine plans to release its fourth-quarter results on April 26. Management is expected to update the company's outlook for the next fiscal year at that time. The stock advanced $5.30 to $19.
SpeechWorks (SPWX: news, msgs, alerts) soared 45 percent to $7.25 following news that software behemoth Microsoft (MSFT: news, msgs, alerts) has agreed to license the company's text-to-speech engine, a technology that converts text-based data, such as e-mail, to be automatically read to callers. Financial terms of the deal weren't disclosed. SpeechWorks' technology will support the latest version of Microsoft's speech application programming interface, SAPI 5.0. Microsoft shares rose 9.3 percent, or $4.80 to $56.75.
Superconductor Technologies (SCON: news, msgs, alerts) rose 21 percent after the Santa Barbara, Calif., provider of high-temperature superconducting products for wireless applications reported unaudited gross commercial product revenue of $2.5 million for the first quarter, up from revenue of $1 million in the same period a year earlier. Backlog stood at $1.25 million at the end of the quarter, up from $746,000 at the end of the fourth quarter. Superconductor plans to report its first-quarter results on April 24. The stock added 75 cents to $4.25.
Superior Industries International (SUP: news, msgs, alerts) added 4 percent to $35.25 after the company said it expects first-quarter earnings of 61 cents a share, 2 cents below Wall Street expectations. The Van Nuys, Calif., provider aluminum automotive components cited the negative impact of sharply higher energy prices this winter on gross margins.
WebMethods (WEBM: news, msgs, alerts) surged 12 percent, rebounding from a 52-week low earlier in the session despite the company's warning that it expects to report fourth-quarter revenue of $60 million to $62 million, resulting in a breakeven performance or a loss of 3 cents per share in the period. Analysts polled by Multex had pegged revenue at $65 million and profits at 6 cents per share, on average. The stock rose $2 to $19.
Yahoo! (YHOO: news, msgs, alerts) surged 23 percent to $15.25 after Lehman Bros. raised its rating on the stock to "buy" from "market perform," based on valuation. |
