>HJ here have a Hot dog!
Which one would you like me to take? The $173.00 hot dog or the $3.00 hot dog?
Btw
Get current.
>Advancers
Caremark Rx (CMX) rose more than 9 percent after the company reported third quarter earnings that topped analyst estimates, and raised its earnings forecasts for the year and for 2002 as growth in its mail-order business "significantly" exceeded expectations. The provider of prescription drug services said earnings for the quarter ending September were $45.8 million, or 19 cents a share, compared $23.6 million, or 11 cents a share in the comparable period a year earlier. Analysts surveyed by Thomson Financial/First Call had been expecting EPS of 18 cents. Revenue rose 27 percent over last year to $1.38 billion. Looking ahead, the company now anticipates EPS of 71 cents for all of 2001, and 89 to 91 cents a share for 2002. The company had previously been forecasting EPS of 67 to 69 cents and 87 to 89 cents, respectively.
Citrix Systems (CTXS) tacked on more than 8 percent after the company reported third-quarter income of $27.8 million, or 14 cents a share, compared to $21.6 million, or 11 cents a share, a year ago. Excluding amortization of intangibles, the Fort Lauderdale, Fla.-based software developer said it earned $41.4 million, or 21 cents a share, up from $27.5 million, or 14 cents a share, a year earlier. Thomson Financial/First Call had expected the company to earn 19 cents a share. Revenue came in at $153.5 million, up 35 percent from last year's total of $113.5 million. "See full story."
Fairchild Semiconductor (FCS) added more than 4 percent after the company reported a third-quarter net loss of $19.1 million, or 19 cents a share, on revenue of $303.4 million. During the same quarter last year, net income was $69.7 million, or 68 cents a share, on revenue of $450.7 million. Excluding charges, net loss was $8.8 million, or 9 cents a share, better than the loss of 10 cents a share that analysts expected, on average. The chipmaker reported a book-to-bill ratio of 1.1 and said that bookings improved 23 percent sequentially.
Honeywell (HON) rose more than 3 percent after the company reported third-quarter adjusted net income of $360 million, or 44 cents a share, vs. $613 million, or 76 cents a share, in the year-ago period. The results matched the Thomson Financial/First Call estimate. Including an after-tax repositioning charge of $668 million, or 82 cents a share, losses totaled $308 million, or 38 cents a share, vs. income of $282 million, or 35 cents a share, in the year-ago period. The charge was related to severance actions and write-downs associated with business and manufacturing disposals and shutdowns. The diversified technology and manufacturing outfit based in Morris Township. N.J. said that net sales totaled $5.79 billion in the quarter that just ended vs. $6.22 billion in the year-ago period. Going forward, Honeywell said it expects fourth-quarter EPS to range from 54 to 56 cents a share with sales of $5.8 billion. First Call currently expects fourth-quarter EPS of 54 cents on revenue of $6.3 billion. Full-year revenue is expected to be about $23.6 billion with ongoing EPS expected to range from $2.04 to $2.06. Wall Street had expected 2001 EPS of $2.03 on revenue of $24.01 billion.
LSI Logic (LSI) climbed more than 4 percent after the company said that it had a third-quarter net loss of $398 million, or $1.09 a share. In last year's third quarter, it had a profit of $18.1 million, or 6 cents a share as sales plunged to $397 million from $728 million. The Milpitas, Calif.-based firm said its pro forma net loss, which excludes some one-time items, was $104 million, or 29 cents a share, compared with a profit of $114 million, or 33 cents a share. Analysts surveyed by Thomson Financial/First Call expected the company to lose 31 cents a share, on average.
Nextel Communications (NXTL) gained more than 9 percent after the company reported a 30 percent surge in revenues in the third quarter on the back of strong subscriber growth. The wireless operator said consolidated loss attributable to common stockholders was $356 million or 46 cents per share. Including special items, the loss was $209 million or 27 cents per share. Analysts had expected the company to report a loss of 48 cents per share in the third quarter on average, according to estimates provided by Thomson Financial/First Call. Revenues grew 30 percent to $1.99 billion, compared with $1.53 billion during the third quarter of 2000. Nextel said it added 481,000 new domestic subscribers in the quarter, compared with its expectations of about 480,000.
Openwave Systems (OPWV) leapt more than 9 percent after the Redwood City, Calif., communications infrastructure software firm agreed to provide its Unified Messaging product to Deutsche Telekom (DT) . Financial terms weren't disclosed.
PRI Automation (PRIA) soared more than 31 percent after the company agreed to be acquired by Brooks Automation (BRKS) for stock worth roughly $380 million. The deal calls for Brooks to swap 0.52 of a share for each PRI share. Brooks expects the deal, which is anticipated to close in the first quarter of 2002, to add to earnings in fiscal 2003.
QLogic (QLGC) advanced more than 7 percent after the company reported second-quarter net income of $15.9 million, or 17 cents per share. That compares with a loss of $1.3 million, or 1 cent per share, a year before. QLogic reported pro forma net income of $17.7 million, or 19 cents per share, compared with $24 million, or 25 cents per share, a year ago. Pro forma results exclude merger and acquisition expenses, research and development charges, sales discounts for stock warrants and amortization of intangibles. Analysts, on average, expected earnings of 19 cents per share. On the top line, revenue was $80.9 million, a decline from $86 million in the same quarter a year earlier.
Strategic Diagnostics (SDIX) rose more than 12 percent after the Newark, Del., firm agreed to work with McDonald's (MCD) and Molecular Circuitry to develop a rapid test for unapproved animal remnants in animal feed. The company said that collaboration is the result of heightened concern about mad cow disease. Strategic Diagnostics and Molecular Circuitry are contributing scientific resources to develop a commercial test under the collaboration. Strategic Diagnostics will also market Molecular's rapid pathogen Detex products. Specifically, the companies will work on lateral flow, or strip, tests for salmonella, E. Coli, listeria, and campylobacter. Financial terms weren't disclosed.
Sybase (SY) surged more than 9 percent after the company reported pro forma earnings of $20 million, or 20 cents a share, below $26.7 million, or 29 cents a share, in the same period a year ago. Analysts had expected earnings of 18 cents a share, onaverage, according to Thomson Financial/First Call. Quarterly sales fell to $226.3 million from last year's total of $239.1 million. "Read more".
Terayon Communication Systems (TERN) advanced more than 9 percent after the company reported a pro forma net loss of $21.2 million, or 31 cents a share but including a charge for inventory related reserves and vendor cancellation charges, the pro forma loss was $27.6 million, or 41 cents a share. Analysts polled by First Call anticipated a pro forma loss of 35 cents a share. Including charges and the gain resulting from the retirement of debt, the net income for the third quarter of 2001 was $13.1 million, or 19 cents a share. In the year-ago period, the company lost $26.5 million, or 43 cents a share. Terayon expects a fourth quarter pro forma net loss to a range of between 22 cents and 25 cents per share, while analysts currently expect a 32-cent loss.
UTStarcom (UTSI) rose more than 11 percent after the Alameda, Calif., networking firm reported third-quarter pro forma earnings of $21.7 million, or 20 cents a share, up from a year-ago equivalent profit of $15.5 million, or 15 cents a share, and 2 cents ahead of Wall Street expectations. Sales jumped 59 percent in the latest three months to $170.5 million from $107.4 million in the same period a year earlier. Including items, UTStarcom reported actual net income of $18.8 million, or 17 cents a share
Vysis (VYSI) jumped more than 31 percent after the company agreed to be acquired by Abbott Laboratories (ABT) for $355 million. The deal values Vysis shares at $30.50 per share. Abbott expects to complete the transaction by the end of the year. Itwill record a yet-to-be-determined charge related to the acquisition in the fourth quarter. Abbott added that the deal would have no impact on its outlook for earnings of $2.24 to $2.26 per share in 2002.
Decliners
Amazon.com (AMZN) lost more than 17 percent after the company said it lost $170 million, or 46 cents per share for its third quarter. The online retailer lost $241 million in the year-ago comparable period. Excluding certain charges, Amazon.com reported a loss of $58 million, or 16 cents per share, vs. a loss of $89 million in the same period a year ago. Analysts expected Amazon.com to report a loss of 16 cents per share. On the top line, Amazon.com generated sales of $639 million vs. $638 million in the year-ago period and below the $650 million consensus view. "See full story."
AT&T (T) dropped more than 5 percent after the company posted a third-quarter profit after the spin-off of its wireless business, but its loss from operations widened as its long-distance business continued to weaken. Excluding onetime items, AT&T said it earned 4 cents a share, down from 35 cents a year earlier. That matched the consensus of analysts surveyed by Thomson Financial/First Call. Sales dropped 5.8 percent to $13.1 billion, adjusted for the discontinuation or consolidation of existing businesses. "Read more".
Avaya (AV) fell more than 10 percent after the company reported fourth-quarter earnings from continuing operations of $18 million, or 4 cents a share, down from an equivalent profit of $20 million, or 7 cents a share, in the same period a year earlier. These results, which exclude business restructuring and related charges, were a penny ahead of Wall Street expectations. Revenue from continuing operations fell 29.2 percent to $1.44 billion from $2.04 billion in the same period a year earlier. Avaya added that it's on target to complete its restructuring by the end of 2002, one year earlier than expected. The company is taking a conservative view for fiscal 2002, forecasting a decline in revenue on an annual basis from its 2001 total of $6.79 billion, and a flat sequential revenue in the first quarter. It's also targeting revenue and earnings "better than the current market view for 2002." The company is also planning a public offering of liquid yield option notes due 2021. It anticipates proceeds of roughly $300 million, or $345 million if the over-allotment option is exercised. Avaya plans to use the proceeds to refinance a portion of its outstanding commercial paper
California Pizza Kitchen (CPKI) tripped more than 13 percent after the company reported earnings of 18 cents a share, a penny short of the consensus estimate and the year-ago total. Revenue totaled $64.3 million, up compared with the year-ago total of $55 million. Comparable-restaurant sales rose 1.8 percent. Earnings for the fourth quarter are expected to be in the range of 14 cents to 16 cents a share, while analysts expected a profit of 19 cents a share.
Cepheid (CPHD) tumbled more than 6 percent after the company reported a third-quarter loss of $4 million, or 15 cents per share, compared with a net loss of $3.8 million, or 15 cents per share, for the third quarter of 2000. Revenue rose to $2.8 million, compared with $2.3 million for the same quarter of 2000. Analysts, on average, expected a per share loss of 18 cents. Due to strong demand in its biothreat detection market, Cepheid sees product sales of $2.2 million to $3.2 million for the fourth quarter, and a net loss in the range of14 cents to 16 cents per share. Analysts, on average, currently expect a fourth-quarter per share loss of 18 cents.
CNet (CNET) fell more than 8 percent after the company reported a third-quarter loss Tuesday of 16 cents a share, or $22 million, inside the 17-cent a share loss estimate from Thomson Financial/First Call. The third-quarter net loss came in at $1.4 billion, or $9.98 a share, which compares with last year's net loss figure of 50 cents a share, or $44 million. Last year, the company brought in an $11.7 million profit, or 8 cents a share. Revenue for the company came in at $69.3 million vs. $56.4 million a year ago for CNET alone and $110.5 million when combined with ZDNet, which it has since acquired.
Eastman Kodak (EK) slid more than 9 percent after the company reported third-quarter earnings that met expectations, warned of a fourth-quarter shortfall, and announced plans to reduce its workforce by an additional 3,500 to 4,000 employees. For the quarter ending Septembers, net earnings were $96 million, or 33 cents a share, compared with earnings of $418 million, or $1.36 per share in the same period a year ago. Excluding restructuring and other charges, earnings were $152 million, or 52 cents per share. Revenue for the period fell 7.8 percent from last year to $3.31 billion. Analysts polled by Multex had been expecting EPS of 52 cents and revenue of $3.25 billion. Kodak said the economic downturn intensified during the third quarter, and it currently sees signs that the weakness will continue into next year. The company added that if the pressures in its consumer and health imaging businesses persist, "earnings in the fourth quarter will not exceed 15 cents per share on an operational basis." Analysts are currently expecting EPS of 49 cents. Separately, Kodak said the additional job cutswould bring the total workforce reduction for the year to 6,500 to 7,500, and lead to savings of about $400 million to $450 million.
El Paso Energy (EPG) tripped more than 4 percent after the company reported third-quarter adjusted earnings of $405 million, or 78 cents a share, up from a year-ago profit of $284 million, or 55 cents a share, and 4 cents ahead of Wall Street expectations. El Paso said it remains comfortable with earnings targets of $3.30 per share in 2001, and $3.60 to $3.70 per share in 2002. This target is based on an annual average Henry Hub natural gas price of $3 per thousand cubic feet. Operating revenue rose to $13.84 billion in the latest three months from $13.47 billion in the same period a year earlier.
Enron (ENE) sank more than 20 percent on heavy volume. On Tuesday, the company attempted to allay investor concerns about a U.S. Securities and Exchange Commission inquiry into certain related-party transactions. The stock, which has lost ground in 8 of the past 10 sessions, has hit an intraday low of $15.65, a level not seen since February 1995.
Genaissance Pharmaceuticals (GNSC) tumbled more than 13 percent after the New Haven, Conn., population genomics firm turned in a loss of $11.8 million, or 52 cents a share, in the third quarter. These results, which include an income tax benefit of $2.6 million, are wider than its loss of $11.4 million, or 74 cents a share, in the same period a year earlier. For the fourth quarter, the company forecast a loss of 56 cents a share on revenue of between $1.7 million to $1.8 million, narrower than current Wall Street expectations. It expects a loss of $2.15 per share on revenue of $4.8 million to $4.9 million for fiscal 2001. For fiscal 2002, the companyforecast a loss of $34 million to $38 million and revenue of $10 million to $15 million. As of Sept. 30, the company had cash, cash equivalents, and marketable securities totaling $69 million.
Infospace (INSP) dropped more than 15 percent after the company reported a third-quarter loss of $201.4 million, or 63 cents a share, versus a loss of $48 million, or 16 cents a share, a year earlier and said it would be cutting 200 jobs. Excluding an amortization charge of $157 million and a $24 million charge for an FAS 133 investment loss, the Internet and wireless services provider posted a pro forma loss of $9.6 million, or 3 cents a share, in line with Thomson Financial/First call estimates, but down from a profit of $11.6 million, or 3 cents a share a year ago. Revenue came in at $33 million compared to $60 million a year ago.
Multex (MLTX) sank more than 16 percent after the company reported a third-quarter net loss of $7.7 million, or 24 cents a share, after recording a profit of $210,000, or a penny a share, in the year-earlier period. Excluding charges, which included those related to workforce reductions, amortization of assets and warrants, losses totaled $2.9 million, or 9 cents a share. Analysts surveyed by Thomson Financial/First Call had been expecting losses of 8 cents a share. Revenue for the period fell 7 percent from last year to $21.3 million. The provider of investment information estimates that $2 million in revenue was postponed or lost as a result of the Sept. 11 terrorist attacks. For the fourth quarter, Multex forecasts revenue of $22 million to $22.5 million, and a pro forma net loss of "less than" $2.5 million. Based on its expectations of having approximately 32.5 million shares outstanding, the loss would be 8 cents a share, below the current consensus analysts' forecast of a 3 |
