MORE HORRIBLE WARNINGS AFTER THE CLOSE! -->
General Dynamics (GD) 69.35 +1.68: Defense contractor announces $3.6 mln in ammunition contracts; see press release.
Ivax Corp (IVX) 29.75 +1.00: This afternoon pharmaceutical company confirms that it has been sued by AstraZeneca (AZN) based on challenges related to its application to market a generic form of Prilosecan, an anti-ulcer drug having annual U.S. sales of $3.54 billion. Neil Flanzraich, vice chairman and president of IVAX, says "This type of patent litigation is today a part of the routine process of getting generic drugs approved in the United States and should be viewed as demonstrating strength in the pipeline; see press release.
Rambus (RMBS) 19.53 +1.29: -- Update -- On conference call, company said it expects a 20% sequential decline in revenue in JunQ. Royalties on SDRAM-compatible ICs declined in MarQ due mainly to lower selling prices -- trend expected to accelerate in JunQ because SDRAM prices declined in the latest quarter by 50% sequentially. Remember that RMBS revenue is always a quarter behind as it is a royalty-based company, so all of MarQ performance impacts JunQ. Stock trading at 18.27.
Cadence Design (CDN) 19.30 -0.06: Announces that it is acquiring all of the assets of the emulation division of Mitsui Bussan Digital, a wholly owned subsidiary of Mitsui and Co; financial terms of the agreement were not disclosed; see press release.
MarchFirst (MRCH) 0.31 halted: The Nasdaq announces that the trading halt status in MarchFirst was changed to "additional information requested'' from the company; trading in the company was halted today at 9:03 ET, for news pending and will not resume until MarchFirst has fully satisfied Nasdaq's request for additional information; see press release.
United Thera (UTHR) 14.9 +0.55: FDA extends priority review period for Remodulin New Drug Application to allow FDA more time to review additional information submitted by United Thera; as a result, company's previously-released revenue forecasts are no longer accurate; see press release.
IDEC Pharm (IDPH) 49.23 +3.86: Company expects Q1 earnings to be approximately $0.12 per share, above the current First Call estimate of $0.10; the collaboration between IDEC and Genentech (DNA) achieved U.S. net sales of Rituxan (Rituximab) totaling $168.0 mln for the quarter; see press release.
Powerwave Tech (PWAV) 13.42 +1.60: Reports Q1 loss of $0.15 a share, $0.09 worse than the First Call consensus of loss of $0.06, vs year-ago earnings of $0.16; revenues fell 29.7% to $72.98 mln from a year-ago of $103.85 mln; experienced significant order quantity reductions during the quarter and delivery push-outs for the majority of our 2G single-carrier products; the slowdown in the wireless communications sector caused delays in purchasing decisions at the network operator level; see press release.
Central Garden (CENT) 10 +0.04: Producer of garden and pet products warns Q2 will be $0.10-0.15 per share, current First Call estimate is $0.43; shortfall is primarily attributable to an exceptionally late spring in most of the U.S., which has negatively impacted retail sales and heightened retailer focus on reducing inventory levels; see press release.
DoubleClick (DCLK) 12.01 -0.61: Reports Q1 loss of $0.08 a share, $0.01 better than the First Call consensus; revenues rose 4.4% to $114.87 mln from a year-ago of $110.06 mln; warns Q2 will be a loss of $0.05-0.07, current First Call estimate is a loss of $0.02; expects revenues of approximately $100-105 mln; see press release.
Genentech (DNA) 45.65 +0.40: Biotechnology company posts Q1 earnings of $0.17 a share, in line with the First Call consensus, vs year-ago earnings of $0.15; revenues rose 38.4% to $391.90 mln from a year-ago of $283.18 mln; see press release.
Avistar (AVSR) 1.5 -0.05: Reports Q1 loss of $0.04 a share, $0.03 better than the First Call consensus of loss of $0.07; revenues rose 40.6% to $6.08 mln from a year-ago of $4.33 mln, warns Q2 revenues will be approximately $6.0 mln, current estimate is est $6.6 mln; see press release.
Papa John's (PZZA) 23.53 +0.17: Resataurant operator expects Q1 (Apr) earnings to be at the upper end of its previously issued earnings per share range of $0.51-0.55 per share; current First Call estimate is $0.50; comparable sales for the quarter increased 4.5%, composed of a 3.5% increase at company-owned restaurants and a 4.8% increase at franchised units; see press release.
After Hours Trading : Heavy extended hours trading in SSTI shares as investors rally stock almost 8% on news that company saw a slight improvement in market conditions since March; based on this improvement, the chip maker is forecasting a sequential increase in EPS and revenue; SSTI competitors include MCHP, SNDK, and ATML ... Other after hours movers include RMBS (-7%), ELON (+6%), NMTC (+6%), HAND (+5%).
Rambus (RMBS) 19.53 +1.29: -- Update -- Says results show the effect of both declining SDRAM prices and costs associated with the continuing vigorous legal defense of its intellectual property; cash balances during the quarter increased to $151 mln from $144 mln last quarter.
Verity (VRTY) 24.50 +3.39: Announces promotion of Todd Yamami to position of CFO; also announced the James Ticehurst, vice president, administration and support operations, will be leaving the company; see press release.
24/7 Media (TFSM) 0.34 +0.02: Plans a reduction in the workforce of approximately 100 employees and the closure or downsizing of certain offices; Tony Plesner, formerly senior vice president of Strategic Planning, will assume the position of chief operating officer; see press release.
Breakaway Sol (BWAY) 0.36 -0.02: Announces cost cuts including staff reductions of approximately 200 employees of its total work force, and closings of its Rocky Mountain and London offices; has secured shareholder approval for round of equity financing totaling $33 mln from investors including SCP Private Equity Partners, and Internet Capital Group; see press release.
Natl Instruments (NATI) 32.17 +1.33: Reports Q1 earnings of $0.28 a share, $0.01 worse than the First Call consensus of $0.29, vs year-ago earnings of $0.24; revenues rose 14.9% to $108.08 mln from a year-ago of $94.11 mln; see press release.
Numerical Tech (NMTC) 12.55 -0.68: Reports Q1 earnings of $0.02 a share, $0.02 better than the First Call consensus of $0.00; revenues rose 198.6% to $10.32 mln from a year-ago of $3.46 mln; see press release.
Inforte Corp (INFT) 8.08 +0.08: Company warns Y01 will be $0.07-0.22 per share vs current First Call estimate of $0.27, cities the macroeconomic environment; see press release.
Rambus (RMBS) 19.53 +1.29: Reports Q2 earnings of $0.08 a share, $0.03 worse than the First Call consensus of $0.11, vs year-ago earnings of $0.04; revenues rose 99.1% to $31.25 mln from a year-ago of $15.69 mln; anticipates an overall decline in Q3 total revenues from current licensees next quarter by 20% sequentially; see press release.
Broadbase Sftwr (BBSW) 1.08 +0.16: Provider of customer-focused eService, eAnalytic and eMarketing applications reports Q1 loss of $0.22 a share, $0.01 better than the First Call consensus; revenues rose 106.8% to $13.03 mln from a year-ago of $6.30 mln; see press release.
Silicon Storage (SSTI) 7.86 +0.86: Posts Q1 earnings of $0.06 a share, a penny worse than the First Call mean, vs yr-ago net of $0.11; excluding inventory write-down, company would have earned $0.09 for the quarter; SSTI expects revenue and EPS to increase by 5-10% sequentially (EPS estimate is $0.06), noting that the situation has improved slightly since March.
H & R Block (HRB) 50.97 +0.19: Announces that current filing trends suggest company is on track to meet or possibly exceed previously announced FY01 (Apr) revenue and earnings goal; see press release.
Elantec Semicon (ELNT) 33.91 +1.71: Company reports Q2 net of $0.20 a share, in line with the First Call consensus, vs year-ago of $0.14; revenues increased 53% to $30.6 mln from $20 mln in the year-ago; warns Q3 will be $0.10-0.12 per share vs $0.21 First Call mean; see press release.
Echelon Corp. (ELON) 14.80 +1.16: Developer of LonWorks networks reports Q1 net of breakeven, in line with the First Call consensus; revenues rose 10.0% to $12.59 mln from a year-ago of $11.44 mln; gross margin for the quarter ended was 61.9%, compared with 58.4% for a yaer-ago; see press release.
Handspring (HAND) 14.15 +2.10: Provider of the Visor personal organizer reports Q3 loss of $0.06 a share, in line with the First Call consensus; revenues rose 260.8% to $123.82 mln from a year-ago of $34.32 mln; continued expansion in the U.S. retail and reseller markets and new distribution channels in Italy, Australia and New Zealand contributed to the strong quarter; see press release. |
