bad news starting to flow:
From Briefing.com
Notable warnings: OPWV, PLCM, KANA, ITWO, INRG, EMBT, MWY, MUSE
RIMM beats earnings.
17:20 ET RIMM Research In Motion updates guidance (10.46 -0.33) -- Update --
Hearing from sources on company's conference call that company sees Q2 revs in the range of $75-$80 mln vs the current Multex consensus estimate for revs of $76.1 mln; expects Q3 net loss in the range of $0.07-$0.12 per share vs the current consensus estimate for a net loss of $0.19 per share -- sees FY03 revs in the range of $350-$375 mln vs the current consensus estimate for revs of $359.9 mln.
17:15 ET After Hours Indications
The late session tone is modestly negative. S&P futures at 948, trade one point below fair value while the Nasdaq 100 after hours indicator is lower by 0.5 points.
17:12 ET WCOME WorldCom's MCI unit draws interest from IDT Corp (0.10 +0.04)
Hearing from traders citing Dow Jones that IDT Corp (IDT) chairman has expressed interest in WorldCom's MCI unit for $2 billion.
17:06 ET MUSE Micromuse warns for Q3 (4.04 +0.01)
Sees Q3 revs of approximately $35 million vs the current Multex consensus estimate for revs of $38.3 million; expects Q3 earnings of $0.01 per share vs the current consensus estimate for earnings of $0.03 per share; cash, cash equivalents and investments are expected to be in the range of $194 to $195 million.
17:03 ET ILA Aquila reaffirms FY02 guidance (7.35 -0.65)
Company reaffirms FY02 guidance for earnings in the range of $1.30-$1.40 per share vs the current Multex consensus estimate for earnings of $1.27 per share; says it was surprised by the reduced earnings guidance issued by Quanta Services (PWR), which it expects to negatively impact Aquila's full-year results by approximately $.05 per share; expects to make up the difference through reduced costs .
16:57 ET PLCM Polycom resumes trading (10.90 -0.22) -- Update --
PLCM -2.85 vs the 4 pm ET close to 8.05
16:47 ET API Data week ended June 28
U.S. crude stocks up 2.661 mln bbl; U.S. distillate stocks down 1.046 mln bbl; U.S. gasoline stocks down 1.298 mln bbl; U.S. refinery runs 95.4% vs 93.7% last week.
16:42 ET After Hours Movers
Prices vs 4 pm ET close -- RIMM +0.65, WCOME +0.02, OPWV -1.16, EPNY -0.05
16:39 ET OPWV Openwave to hold conference call at 5 PM (4.66 -0.40) -- Update --
Co will hold a conference call today at 5:00 PM ET (dial-in: 888-423-3281).
16:37 ET ITWO i2 Tech to hold conference call at 5 PM (1.50 +0.03) -- Update --
Co will hold a conference call today at 5:00 PM ET (dial-in: 888-276-0005).
16:34 ET PLCM Polycom guides Q2 below consensus (10.90 -0.22) -- Update --
Announces that it expects Q2 rev of $124-$126 mln and pro forma EPS of $0.13-$0.14, vs the Multex consensus of $140.5 mln and $0.20.
16:33 ET WCOME WorldCom: may sell assets in Japan, South America (0.10 +0.04)
Hearing from traders citing Dow Jones that company may try to sell assets abroad; CEO says "very unlikely" banks will accelerate notes; bankruptcy will depend on banks' decisions.
16:30 ET PLCM Polycom halted-- news pending (10.90 -0.22)
16:25 ET ITWO i2 Tech guides Q2 revenue below consensus (1.50 +0.03) -- Update --
Announces that it expects Q2 rev of $117-$120 mln, well below the Multex consensus of $150.4 mln; co attributes their revised guidance primarily to a decline in license rev, which "reflects the global market trends of very constrained technology spending and more specific weakness in the markets the co serves."
16:22 ET VVTV ValueVision announces additional $25 mln buyback plans (16.12 -0.68)
16:11 ET MWY Midway Games warns for Q2, full year (7.99 -0.13)
Sees Q2 revs in the range of $28-$30 mln vs the current Multex consensus estimate for revs of $54.7 mln; sees full year revs in the range of $295-$310 mln vs the current consensus estimate for revs of $322 mln.
16:10 ET EMBT Embarcadero guides Q2 below consensus, increases buyback (5.03 -0.97)
Announces that it expects Q2 pro forma EPS of $0.04-$0.05 and expects rev of $11.8-$12.0 mln, vs the Multex consensus of $0.06 and $12.8 mln. Co also announces that its Board has authorized increasing the co's stock repurchase program by up to an additional 2 mln shares.
16:10 ET RIMM Research In Motion beats by 5 cents (10.46 -0.33) -- Update --
Reports Q1 loss of $0.14, $0.05 better than the Multex consensus; revs were $71.6 mln, vs consensus of $70.0 mln.
16:09 ET KANA Kana Software lowers Q2 outlook (3.56 +0.04)
Guides Q2 revenues to approx. $17 mln, below the current Multex consensus of $26.10 mln. KANA expects to post a $24-30 mln loss for the qtr, including approx. $14-$18 mln resulting from the reassessment of a long-term project. Analysts had expected a profit for the qtr.
16:08 ET OPWV Openwave warns for Q4 (4.66 -0.40)
Company sees Q4 revenues in the range of $64 million to $71 million vs the current Multex consensus estimate for revenues of $82.5 million; expects Q4 pro forma loss of approximately $0.17 to $0.22 per share vs the current consensus estimate for a net loss of $0.09 per share -- net cash used in continuing operations during Q4 is expected to be between $0.0 and $5.0 million; as of June 30, 2002, the company had cash, cash equivalents, short-term and long-term investments of approximately $285 million.
16:07 ET INRG INRANGE warns for Q2 (4.35 -0.40)
Expects to post a Q2 net loss of $0.01-$0.03 on revenues of $50-$52 mln (Multex consensus $0.02 and $61.98 mln). Blames shortfall on continuing weakness in IT spending.
16:06 ET EPNY E.piphany guides Q2 below consensus (3.68 -0.20)
Announces that its Q2 net loss is not expected to exceed ($0.18) and expects rev of $19.0 mln, vs the Multex consensus of ($0.16) and $23.7 mln.
16:03 ET ITWO i2 Tech halted -- news pending (1.50 +0.03) |
