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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: lee kramer who wrote (12816)	2/25/2002 9:21:37 AM
From: Frederick Langford	Respond to of 26752

-------------------------------------------------------------------------------- Stocks to watch Monday February 23, 2002 05:17:00 (ET) Beleaguered retailer Gap (GPS, Trade) will report after the market closes Tuesday. Analysts surveyed by Thomson Financial/First Call expect Gap to bleed 4 cents a share on revenue of $4.14 billion for the fourth quarter. Shares have been pummeled with a slew of debt downgrades of late, bringing the stock more than 65 percent lower since May. The company has had nearly two full years of consecutive monthly negative comparable-store sales, and too often in deep double digits. Last week, it reported that January same-store sales -- a benchmark for the industry -- plunged 16 percent with its namesake stores down a whopping 22 percent. . Novell software (NOVL, Trade) is expected to lose a penny a share on $265 million in revenue when it reports next Thursday. The Provo, Utah-based firm has gone the way of most of its software peers recently -- down and down hard -- nearly 40 percent lower since the beginning of the year. On Monday, BEA Systems (BEAS, Trade) is expected to unveil Cajun, a development tool to enhance its WebLogic product. But on Friday shares fell as low as $13.49, a level unseen since early November, after company management gave a cautious outlook for business conditions this year. The stock was down 6 percent Friday, but rose 1 percent in after-hours trading. Moody's lowered debt ratings affecting $3 billion in of debt securities late Friday on Dana Corp. (DCN, Trade), which manufactures vehicle parts and provides lease financing. The rating agency said weak markets this year will likely hurt the company's earnings, cash flow and debtholder protection. Shares were off 4 cents to $16.96 ahead of the rating change. Guidant (GDT, Trade), a maker of medical products, said clinical trials are proceeding without safety concerns for its coronary-artery stents using Actinomycin D and that it will report on developments in late May. . The announcement follows comments from a Merrill Lynch analyst earlier that the results from the trial of the stents would be lackluster. Uniting two security innovators, Visionics (VSNX, Trade) agreed to be acquired by Identix (IDNX, Trade) in a $269 million stock deal, the companies said after the market closed Friday. Identix CEO Robert McCashin will be chairman of the new entity with a board of eight members equally divided by the two companies and Visionics CEO Joseph Atick will serve as CEO of the merged company. Both companies make fingerprint ID machines. Visionics shareholders will receive 1.3436 shares of Identix stock for each of their shares. The deal is expected to close, subject to regulatory and shareholder approval, on June 30. A joint conference call at 7 a.m. Monday will discuss details. JLG Industries (JLG, Trade), which makes aerial work platforms, is shutting a factory in Orrville, Ohio, and consolidating its manufacturing as part of a cost-cutting plan. JLG will take a $7.7 million charge but expects to recoup that via savings in just over a year. The company also reported second-quarter revenue of $156 million, or 3 cents a share, compared with a year-ago sales total of $230 million, or 12 cents a share. Results were boosted 11 cents a share, the company said, by a decision to withhold profit-sharing payments because sales goals were not met. Shares were up 3 percent ahead of the announcement. Consumer products giant Procter & Gamble (PG, Trade) said late Friday it will sell its factory in Cincinnati that makes olestra, a fat substitute used in snack foods. No price was disclosed in the deal with Twin Rivers Technologies. P&G said it will retain the ownership of the Olean brand that uses olestra. Shares were up 3 percent Friday ahead of the news. For late-breaking market news you can't afford to miss, go to cbs.marketwatch.com Fred