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Updated: 13-May-02 19:04 ET Comprehensive coverage on Short Stories, analysis on Story Stocks
Monday After the Close Set default to no-refresh
19:04 ET PEET Peet's Coffee appoints CEO (15.05 -0.95)
Company appoints Patrick O'Dea to post of president and chief executive officer; exiting president/CEO, Christopher Mottern, will become chairman of Peet's Board of Directors, and current chairman, William Jesse, Jr., will remain as a member of the board.
18:43 ET ESPD eSpeed guidance clarification (13.97 +1.25) -- Update --
We noted in the 17:32 comment that ESPD guided Q2 estimates in-line with the Multex consensus; that is accurate, but it is notable that the First Call consensus for Q2 was $0.10 (Multex was $0.12), so the company's Q2 guidance of $0.11-0.12 is toward the high end of analysts' estimates.
18:31 ET S&P Index Changes
BJ Services (BJS) will replace USAirways (U) in the S&P 500 Index; USAirways being removed for lack of representation. Whole Foods Market (WFMI) will replace BJ Services in the S&P MidCap 400 Index. Duane Reade (DRD) will replace Whole Foods inS&P SmallCap 600 Index; changes effective after close of trading on Tuesday, May 14.
18:25 ET S&P Index Changes
Apollo Group (APOL) will replace WorldCom (WCOM) in the S&P 500 Index; WCOM is being removed for lack of representation. Varian Medical (VAR) will replace Apollo Group in the S&P MidCap 400 Index. DIANON Systems (DIAN) will replace Varian in S&P SmallCap 600 Index; changes effective after close of trading on Tuesday, May 14.
17:32 ET ESPD eSpeed matches Q1 EPS consensus, tops revs, guides Q2 in-line (13.97 +1.25)
Reports Q1 (Mar) earnings of $0.10 per share, in line with the Multex consensus; revenues fell 6% year/year to $30.0 mln vs the $27.2 mln consensus; issues guidance for Q2 (Jun) of $0.11-0.12 vs consensus of $0.12.
17:18 ET CALP Caliper Tech announces CEO and President (7.89 -0.14)
Effective July 1, 2002, Michael R. Knapp, Ph.D., will assume the responsibilities of Chief Executive Officer and James L. Knighton, will become President.
16:56 ET After Hours Indications
The late session tone is mixed. S&P futures at 1075, trade even with fair value while the Nasdaq 100 after hours indicator is lower by 1.8 points
16:22 ET JWN Nordstrom to take first quarter charge (24.46 +0.23)
Announces an agreement has been reached with Benchmark Capital Partners and Madrona Investment Group, the venture capital firms that hold a minority interest in Nordstrom.com; under that agreement, Nordstrom, Inc. will acquire all of their minority interest in Nordstrom.com for $70 million; transaction will result in a non-recurring charge equal to the difference between that $70 million and the fair value of the shares acquired; the exact dollar amount of this charge is still being determined, but it is not expected to exceed the estimated range of $55 to $65 million that was previously disclosed.
16:07 ET WTW Weight Watchers exceeds consensus by 21% (36.87)
Posts Q1 net of $0.34 a share, $0.06 better than the Multex consensus, vs yr-ago EPS of $0.20. Revenues rose 24% to $212.5 mln (consensus $194.85 mln).
16:06 ET NET Network Associates to announce inquiry results later in week? (19.31 +0.90)
We are hearing a rumor that NET will report the results of their internal accounting investigation on May 15 or at an event later in the week; co announced on April 25 that is has discovered accounting inaccuracies in their 1999 and 2000 financial statements which will require restatement (and which also led them to withdraw their offer for MCAF).
16:03 ET PSUN Pacific Sunwear reports in-line EPS (19.49 -0.19)
Posts Q1 net of $0.10 a share, in line with the Multex consensus, vs yr-ago EPS of $0.11. Sales increased 17.4% to $161.7 mln (consensus $164.56 mln).
Today's In Play
15:48 ET GMST Gemstar-TV Guide rumor (9.00 +0.66)
We are hearing a rumor that GMST will settle their patent infringement claim against DISH, SFA, and Pioneer (see Archive for details); we have not confirmed this rumor, and we also note that while a settlement would remove an overhang from the stock, we are also hearing that a settlement could remove some significant upside if GMST were to win the case.
15:42 ET Earnings Calendar
The earnings calendar is relatively light tonight. Tomorrow before the open, look for OfficeMax (OMX) and Wal-Mart (WMT) to report their quarterly results.
15:35 ET Game makers/retailers rise on rumor Sony to lower PS2 price to $249 from $299
15:34 ET INVN InVision hit by old insider sales news? (17.72 -1.67) -- Update --
Some have blamed today's weakness on Dow Jones headlines indicating insider sales news and a subsequent story attributing today's decline to those insider sales; these sales were in fact first detailed in a Feb 12 SEC filing detailing company's secondary offering.
15:28 ET XEL Xcel Energy describers transactions with Reliant (22.29 -1.01)
Discloses that during 1999, Public Service Company of Colorado into transactions with Reliant that totaled 10 mln megawatt hours of electricity for a profit of approx. $60,000. During 2000, the transactions totaled about 1 mln megawatt hours of energy and the profit of approx. $50,000. The volumes of energy associated with these transactions were not reported in PSCo reports because the net impact on PSCo was zero.
15:25 ET PLXS Plexus Corp reiterates Q3 guidance (24.88 +2.01)
Co reiterates Q3 guidance of cash EPS of $0.06-$0.09 and $235-$245 mln in sales (consensus is for $0.07 and $237.0 mln, respectively).
15:21 ET Small-Cap Breakouts
The following micro-cap and small-cap stocks are breaking out to new 52-week highs today: rent-to-own furniture and appliance company, Rent-Way (RWY 12.17 +0.27)... designer of digital wireless standard modules, Wavecom S.A. (WVCM 44.50 +1.86)...discount apparel retailer, Goody's Family Clothing (GDYS 10.91 +0.64)... fashion designer, Perry Ellis (PERY 12.59 +0.59)... provider of risk assessment services for the insurance industry, LabOne (LABS 23.80 +1.79)... provider of automated instrument-reagent systems to the blood transfusion industry, Immucor (BLUD 15.97 +1.22).
15:09 ET Oil Services Index Intraday -- Technical --
The OSX index has just edged over resistance at 110.0 -- from current levels look for additional overhead at 110.66 followed by little resistance thereafter until the area of 112.70. To the downside, look for initial support at 109.90 followed by an additional floor at 109.50.
14:56 ET IVX Ivax Corp asthma treatment for children approved by FDA (11.18 +0.36)
Announces it has received FDA approval for the use of QVAR to treat asthma in children 5-11 years of age; QVAR is currently marketed for the treatment of asthma in adults and older children by the co's subsidiary.
14:49 ET XAU Gold & Silver Index strikes new high (80.42 +0.52)
Investors continue to mine for gold stocks -- in many cases digging deep into micro-cap land for opportunities. Interest in sector has pushed the The Philadelphia Gold & Silver Index (XAU) to a new 52-week high and to its best levels since Oct. 1999. Cash gold on the day is down $0.55 to $310.55... Among the sector stocks breaking out to new one-yr highs today are Glamis Gold (GLG 8.35 +0.56), Bema Gold (BGO 1.18 +0.07), Gold Fields (GFI 15.10 +0.44), Royal Gold (RGLD 11.00 +0.83), Apex Silver Mines (SIL 13.80 +0.50), Silver Standard Resources (SSRI 3.43 +0.22).
14:28 ET CVC Cablevision rumor (19.70 -2.70) -- Update --
Shares are down 12% and just hit a new low for the session; hearing that the stock is dropping on rumors of a convertible deal, but have not heard any details and have not confirmed the rumor.
14:22 ET SMTR SmarTire Systems and Visteon to offer tire monitoring systems (1.92 +0.11, +6%)
Reaches agreement in principle with Visteon Corp (VC) to develop and market tire monitoring solutions for vehicle manufacturers. According to SMTR, improved tire safety standards caused by the new Transportation Recall Enhancement Accountability and Documentation Act will require tire pressure warning systems on new passenger cars and light trucks sold in the U.S. after 2003... volume 43,200; spread $0.05.
14:08 ET Market Volume
Total volume traded is moderate on the session. The Nasdaq has just cleared the 1.1 billion share mark and should approach 1.7 billion for the day. NYSE volume is also moderate with 711 million total shares traded to this point in the session.
13:49 ET CMVT Comverse Tech may miss rev forecasts-- Globes Online (12.10 +0.40)
Israel's Globes Online site says that the co is liable to post lower rev in 2002 than analysts forecast; industry sources say the market is dead, customers are reportedly demanding discounts on voice mailbox fees, and new competitors are entering the mkt.
13:32 ET CSCO Cisco Systems hit by various vague rumors (15.34 -0.08)
Stock dropped quickly in recent action; hearing various vague rumors none of which can be confirmed; one is that CSCO has been or will be the target of a newsletter which focusses on short-selling opportunities; have also heard accounting issues mentioned, though these have made the rounds many times before without ever proving true. |
