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THIS MORNING'S STOCKS
WEEK OF 5/28/01-6/01/01 |
6/01/01 |
ALTERA
CORP (ALTR, 24.00)- The maker of programmable-logic devices warned
that its second quarter revenues will fall short of previous guidance due
to weaker than expected international sales. The company now sees
revenues falling 25% sequentially to $215 million, compared to analysts'
estimates of $238 million. The shares are up 0.71 in pre-open
trading on the news.
CUMMINS INC (CUM, 42.35)- The
maker of diesel engines warned that it sees full year earnings of
$0.20-$0.35 per share, compared to analysts' estimates of 46 cents. The
company attributed the lowered outlook to continued U.S. economic
weakness. The company also said it will reduce its workforce by 500, or
1.8%.
DOUBLECLICK INC (DCLK, 13.05)-
The Internet advertising network has agreed to acquire e-mail marketing
company MessageMedia Inc (MESG, 0.43) for 60 cents per share in a
$41 million all-stock deal. Under the terms of the deal, MESG
shareholders will receive 0.0436 shares of DCLK for each share held.
MESG shares are up 0.11, or 26%, in pre-open trading on the news.
DCLK
MESG
EXTENDED SYSTEMS (XTND, 6.75)-
The maker of wireless information management products warned that its
fourth quarter results will fall short of expectations. The company
now sees revenues of $9.5-$10.5 million, and expects to post a loss of
($0.20)-($0.26) per share. Analysts were looking for a loss of 12
cents and revenues of $13 million. The company also said it will
reduce its workforce by 15%.
PSINET INC (PSIXE, OTC)- The
Internet service provider filed for Chapter 11 bankruptcy protection.
ROADWAY EXPRESS (ROAD, 26.18)-
The trucking company warned that its second quarter earnings will fall
significantly below expectations due to slowing economic conditions.
The company now sees earnings of $0.16-$0.21 per share, compared to
analysts' estimates of 43 cents.
VIVENDI UNIVERSAL (V, 63.80)- The
media and entertainment company has agreed to acquire educational
publisher Houghton Mifflin Co (HTN, 54.56) for $60 per share in an
all-cash deal valued at $2.2 billion. The company said the deal will
be 25 accretive to earnings, and estimates the deal will produce $75
million in annual synergies. HTN shares are indicated to open up 5
points on the news.
V
HTN |
5/31/01 |
24/7 MEDIA INC (TFSM,
0.37)- The Internet advertising network said it sees a narrower than
expected second quarter loss of 48 cents per share, compared to analysts'
estimates of a loss of 50 cents. The company warned that it sees
second quarter revenues of $18-$21 million, below analysts' estimates of
$23 million. The shares are up 0.15, or 40%, to 0.52 in pre-open
trading on the news.
ALLOY ONLINE (ALOY, 10.85)- The
teen catalog merchant and Internet web site operator beat estimates by two
cents as its first quarter loss narrowed to 20 cents per share from last
year's loss of 36 cents. Revenues in the quarter rose 238% to $28.2
million, above analysts' estimates of $19 million. The company said
it sees second quarter revenues of $23-$24 million, compared to analysts'
estimates of $22 million. The shares are up 1.37 in pre-open trading
on the news.
DUCKWALL-ALCO STORES (DUCK, 7.20)-
The variety store operator said May same store sales rose 0.9%. May
total sales increased 0.8% to $35.1 million.
JOHN HANCOCK FINANCIAL (JHF, 38.66)-
The financial services firm will join the S&P 500 Index after next
Monday's close. The shares are up 3.24 in pre-open trading on the
news.
NEIMAN MARCUS GROUP INC (NMG.a,
34.55)- The department store operator said May total sales increased
4.9% to $214 million. May same store sales rose 4.2%.
PACIFICARE HEALTH SYSTEMS (PHSY,
18.50)- The provider of health care services warned that its full year
results will fall short of expectations due to rising medical costs in
California. The company now sees earnings of $1.65-$1.75 per share,
compared to analysts' estimates of $2.21. The shares are down 2.32
in pre-open trading on the news.
TECH DATA CORP (TECD, 28.25)- The
IT products distributor beat estimates by seven cents as its first quarter
earnings fell 16.2% to 57 cents per share. Revenues in the quarter
declined 4.1% to $4.7 billion. The company warned that its second
quarter results will fall short of expectations. The company now
sees revenues of $4.1-$4.3 billion, and earnings of $0.39-$0.45 per
share. Analysts were looking for the company to earn 51 cents.
The shares are down 0.50 in pre-open trading on the news.
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5/30/01 |
ADVANCEPCS
(ADVP, 62.76)- The provider of health improvement services beat
estimates by two cents as its first quarter earnings rose once cent to 22
cents per share. Revenues in the quarter rose 474% to $3
billion. Separately, the company announced a secondary offering of
5.7 million shares, with 1.6 million to be sold by existing
shareholders. The company currently has 29.9 million shares outstanding.
BENIHANA INC (BNHN, 11.87)- The
restaurant operator beat estimates by four cents as its fourth quarter
earnings rose 12.5% to 45 cents per share. Revenues in the quarter
increased 18.3% to $42.2 million
MARKETWATCH.COM INC (MKTW, 2.90)-
The financial web site operator said it will cut its workforce by
15%. The company sees $9 million in annual savings from the
restructuring.
MEDTRONIC INC (MDT, 42.95)- The
medical equipment maker has agreed to acquire diabetes product maker MiniMed
Inc (MNMD, 44.00) for $48 per share in a deal valued at $3.3
billion. Separately, Medtronic has agreed to acquire medical
equipment maker Medical Research Group Inc for $420 million.
MDT
MNMD
RADIOSHACK CORP (RSH, 32.85)- The
electronics retailer warned that it sees second quarter results falling
short of expectations due to below forecast sales. The company now
sees earnings of $0.25-$0.27 per share, compared to analysts' estimates of
34 cents.
S&K FAMOUS BRANDS INC (SKFB,
8.00)- The menswear retailer said its first quarter earnings rose
11.4% to 35 cents per share. Revenues in the quarter increased 0.9%
to $41.8 million, and same store sales rose 1%.
SUN MICROSYSTEMS (SUNW, 18.67)-
The computer maker warned that it expects its fourth quarter results to
fall short of expectations. The company now sees revenues of
$3.8-$4.0 billion and earnings of $0.02-$0.04 per share, compared to
analysts' estimates of revenues of $4.6 billion and earnings of six
cents. The company attributed the shortfall to slowing economic
conditions in the U.S., Asia, and Europe.
TMP WORLDWIDE (TMPW, 59.78)- The
recruitment advertising network and owner of the Monster.com job posting
web site, has agreed to acquire online employment site Flipdog.com for an
undisclosed amount.
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5/29/01 |
CONOCO INC (COC.a,
31.46)- The oil company has agreed to acquire oil company Gulf
Canada Resources Ltd (GOU, 5.92) for $6.3 billion in an all-stock
deal. Under the terms of the deal, GOU shareholders will receive
$8.02 per share, a 35.6% premium to Friday's closing price. Conoco
expects the deal to be immediately accretive to earnings. The
company expects to realize $150 million in annual synergies.
COC.a
GOU
DAYTON MINING CORP (DAY, 0.30)- The
gold mining company beat estimates by a penny as its first quarter loss
narrowed to three cents per share from last year's loss of 13 cents.
Revenues in the quarter fell to $3 million from last year's $7.37 million.
NORSAT INTERNATIONAL (NSAT, 2.18)-
The maker of wireless products reported a first quarter loss of seven
cents per share, flat with the prior year. Revenues in the quarter
rose 49%, and 23% sequentially, to $5.58 million. Gross margins fell
to 34% from last year's 41%. The company's March 31st cash position
fell to $2.84 million from $4.23 million on December 31st.
OMNISKY CORP (OMNY, 2.81)- The
provider of wireless services warned that it sees a second quarter loss of
($0.62)-($0.65) per share, compared to analysts' estimates of a loss of 52
cents. The company said it sees full year revenues of $51-$56
million.
SPORTS AUTHORITY INC (TSA, 2.99)-
The sporting goods retailer beat estimates by nine cents as its first
quarter loss narrowed to 16 cents per share from last year's loss of 25
cents. Revenues in the quarter fell 3.5% to $339.4 million, and same
store sales declined 5%.
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5/28/01 |
MARKET HOLIDAY
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