MASTERING
THE TRADE
ORIGINAL, INTERACTIVE SEMINAR ON TRADING USING
TECHNICAL ANALYSIS 

 SEC FILINGS

CONCORD CAMERA CORP (LENS, 7.82)- The camera maker warned that its fourth quarter results will fall short of expectations due to continued economic weakness.  The company now sees revenues of $38.5-$40 million, and expects to report a loss of 81 cents per share.  Analysts were looking for a profit of 16 cents.  The shares are down 1.32 in pre-open trading on the news.

DARDEN RESTAURANTS INC (DRI, 26.09)- The restaurant operator beat estimates by two cents as its fourth quarter earnings rose 16.3% to 50 cents per share.  Revenues in the quarter increased 7.6% to $1.08 billion.

IASIAWORKS INC (IAWK, 0.28)- The provider of web hosting services in Asia said it had reduced its workforce by 44%, or 127 employees.  The company expects the move to result in annual cost savings of $9 million.

KENNETH COLE PRODUCTIONS (KCP, 23.70)- The maker of footwear and handbags warned that its second quarter and full year results will fall short of expectations due to "a problematic retail environment".  The company now sees second quarter revenues of $81-$83 million, and earnings of $0.17-$0.19 per share, compared to analysts' estimates of revenues of $103 million and earnings of 33 cents.  The company sees full year revenues of $385-$396 million, and earnings of $1.22-$1.28 per share, compared to analysts' estimates of revenues of $465 million and earnings of $1.85.  The shares have tumbled 5.70 in pre-open trading on the news.

MERCK & CO INC (MRK, 74.47)- The drugmaker warned that its second quarter earnings will fall short of expectations.  The company now sees earnings of $0.77-$0.79 per share, compared to analysts' estimates of 81 cents.  The company attributed the shortfall to below forecast sales of its VIOXX drug and foreign currency fluctuations.  The shares are down 3.82 in pre-open trading on the news.

METRO-GOLDWYN-MAYER INC (MGM, 2.90)- The filmmaker and entertainment company warned that its second quarter earnings will fall short of expectations due to weaker than expected showings by two of its films.  The company now sees a loss of ($0.24)-($0.26) per share, compared to analysts' estimates of breakeven results.

MICRON TECHNOLOGY INC (MU, 37.71)- The memory chip maker missed estimates by 36 cents as it reported a third quarter loss of 50 cents per share, compared to last year's profit of 50 cents.  Revenues in the quarter tumbled 47% to $818 million, significantly below analysts' estimates of $905 million.  Semiconductor revenues fell 24% sequentially from the second quarter.  The shares are down 0.73 in pre-open trading on the news.

VALLEY MEDIA INC (VMIX, 0.76)- The distributor of music and entertainment products and provider of new media fulfillment services said its full year loss widened to $3.47 per share from last year's loss of 54 cents.  Full year revenues fell to $803.7 million from last year's $914.3 million.  Gross margins fell to 8.5% from last year's 10.7%.  The company's hearing on its appeal of NASDAQ's notice of delisting will take place today.  The shares rose 0.6 in after hours trading on the news.

AVERY DENNISON CORP (AVY, 54.72)- The maker of office products and labeling systems warned that its second quarter and full year results will fall short of expectations due to slowing international economic conditions and order delays.  The company now sees second quarter revenues of $955-$965 million, 5% below previous guidance, and expects to report earnings of $0.60-$0.64 per share.  Analysts were looking for the company to earn 70 cents.  The company said it sees full year earnings of $2.50-$2.70 per share, compared to analysts' estimates of $2.86.  The company also said it will cut an additional 100 jobs, bringing the total announced cuts to 450.  The shares are down 4.47 in pre-open trading on the news.

CHRISTOPHER & BANKS CORP (CHBS, 31.20)- The women's apparel retailer  met expectations as its first quarter earnings rose 31% to 38 cents per share.  Revenues in the quarter increased 36% to $57.6 million, and same store sales rose 9%.

COUNTRYWIDE CREDIT INDUSTRIES (CCR, 41.68)- The financial services provider beat estimates by two cents as its first quarter earnings jumped 38.9% to $1.00 per share.  Revenues in the quarter increased 44% to $684.5 million. The company said it sees second quarter earnings of $1.15-$1.20 per share, above analysts' estimates of $1.01 per share.

EXODUS COMMUNICATIONS (EXDS, 2.25)- The provider of managed hosting services warned that its second quarter and full year results will fall short of expectations due to continued weakness in the 'dot.com' industry.  The company now sees second quarter revenues falling 10% sequentially to $315 million, below analysts' estimates of $357 million.  The company sees full year revenues of $1.35 billion and expects to report a cash net loss of $500 million for the year.  Analysts were looking for full year revenues of $1.6 billion.  The shares are down 0.45 in pre-open trading on the news.

GIGA-TRONICS INC (GIGA, 4.30)- The maker of wireless components warned that its first quarter results will fall short of expectations.  The company now sees revenues falling to $12 million from last year's $13.6 million, and expects to report a loss of ($0.09)-($0.13) per share.  Analysts were looking for a profit of two cents.

MICRON ELECTRONICS (MUEI, 1.30)- The provider of web hosting services said its third quarter revenues, excluding discontinued operations, rose to $15.4 million from last year's $10.2 million.  The company met expectations as it reported a loss of nine cents per share, flat with last year's results.

MILLIPORE CORP (MIL, 60.48)- The maker of purification products and components for the semiconductor equipment industry warned that its second quarter results will fall short of expectations due to slowing industrywide conditions in the microelectronics industry, and weakness in the yen and euro.  The company said revenues at its microelectronics unit will tumble 25%-35% sequentially to $55-$64 million.  The company now sees earnings of $0.25-$0.35 per share, compared to analysts' estimates of 54 cents.  The shares are indicated to open down 4 points on the news this morning.

TRANSMETA CORP (TMTA, 12.60)- The chipmaker warned that its second quarter results will fal significantly short of expectations due to economic weakness in the company's primary market Japan.  The company now sees revenues plunging 40%-45% sequentially to $10.2-$11.2 million.  Analysts were looking for revenues of $20 million and a loss of 11 cents per share.  The shares are down 4.61 in pre-open trading on the news.

WINNEBAGO INDUSTRIES (WGO, 23.21)- The maker of motor homes beat estimates by 17 cents as its third quarter earnings fell 18.9% to 60 cents per share.  Revenues in the quarter fell 8% to $197 million.  The company said its motor homes industry market share rose to 18.2% from last year's 17.1%.

ACTUANT CORP (ATU, 16.10)- The maker of engineered industrial products beat estimates by seven cents as its third quarter earnings, excluding charges, fell to 50 cents per share from last year's 92 cents.  Revenues in the quarter fell 7.5% to $123.9 million.

JABIL CIRCUIT INC (JBL, 25.11)- The provider of outsourced electronics manufacturing services met expectations as its third quarter earnings fell to 16 cents per share from last year's 21 cents.  Revenues in the quarter rose 8.3% to $1.05 billion, slightly above analysts' estimates of $1 billion.  The company warned that its fourth quarter results will fall short of expectations.  The company now sees revenues of $950 million-$1.05 billion, and earnings of $0.13-$0.15 per share.  Analysts were looking for revenues of $1.2 billion and earnings of 19 cents in the quarter.  The shares are down 1.11 in pre-open trading on the news.

LEVI STRAUSS & CO (-,-)- The maker of denim apparel said its second quarter revenues fell 9.1% to $1.04 billion.  Net income declined 4% to $43 million, but gross margins rose to 43.3% from last year's 42.4%.  The company said it sees "no indications" that the U.S. retail environment will improve in the second half.

RED HAT INC (RHAT, 4.75)- The Linux software maker met expectations as it reported breakeven first quarter earnings, compared to last year's loss of two cents per share.  Revenues in the quarter increased 18%, but fell 5% sequentially, to $25.6 million.  Analysts were looking for revenues of $30 million.  The shares are up 0.20 in pre-open trading on the news.

TELLABS INC (TLAB, 21.20)- The maker of communications networking equipment warned that its second quarter results will fall short of expectations due to weakness in capital equipment spending by telecom service providers.  The company now sees revenues of $500 million, and expects to report breakeven earnings.  Analysts were looking for revenues of $792 million and earnings of 29 cents per share in the quarter.  The shares are down 3.20 in pre-open trading on the news.

TERADYNE INC (TER, 38.15)- The maker of automatic test equipment warned that its second quarter results will fall short of expectations.  The company now sees revenues of $350-$375 million, and expects to report a loss of ($0.05)-($0.10) per share.  Analysts were looking for revenues of $455 million and a loss of one cent.  The company said it reduced its workforce by 180 employees this week.  The shares are down 3.15 in pre-open trading on the news.

UAL CORP (UAL, 31.72)- The parent of United Airlines warned that its second quarter results will fall short of expectations due to weakening economic conditions.  The company now sees a "double-digit decline" in unit revenues in the quarter, and said its "year-over-year earnings decline" will be greater than previously forecast.  Analysts were looking for a loss of $3.40 per share in the quarter.  The company reported a profit of $3.47 per share in last year's second quarter.

WORTHINGTON INDUSTRIES (WOR, 12.10)- The metal processing company beat estimates by four cents as its fourth quarter earnings fell to 17 cents per share from last year's 32 cents.  Revenues in the quarter declined 14% to $465.8 million.

ZIONS BANCORP (ZION, 56.35)- The bank holding company will join the S&P 500 Index after Friday's close.  The shares are up 2.90 in pre-open trading on the news.

AMR CORP (AMR, 35.92)- The airline warned that its second quarter and full year earnings will fall short of expectations due to higher fuel costs and slowing economic conditions.  The company now sees a loss of at least $100 million in the quarter, compared to analysts' estimates of a profit of 41 cents. The company also expects to report a full year loss, compared to analysts' estimates of a profit of $1.84.

DATUM INC (DATM, 13.00)- The telecom equipment maker warned that its second quarter results will fall short of expectations.  The company now sees revenues of $27-$29 million, and earnings of $0.10-$0.13 per share.  Analysts were looking for earnings of 20 cents.  The company attributed the shortfall to lower capital spending by telecoms.

ON ASSIGNMENT INC  (ASGN, 21.75)- The provider of temporary staffing services warned that its second quarter and full year results will fall short of expectations. The company now sees second quarter revenues near $47.8 million, compared to analysts' estimates of $55 million, and expects full year revenues of $205-$211 million, compared to previous guidance of $220-$225 million.  The company sees second quarter earnings of $0.18-$0.19 per share and full year earnings of $0.82-$0.85.  Analysts were looking for second quarter earnings of 22 cents and full year earnings of 93 cents.

ORACLE CORP (ORCL, 14.84)- The database software maker beat estimates by a penny as its fourth quarter earnings slumped to 15 cents per share from last year's 82 cents.  Revenues in the quarter declined 3.3% to $3.26 billion, below analysts' estimates of $3.4 billion.  The company said it expects to meet analysts' first quarter and fiscal year 2002 earnings estimates.  The shares are up 1.98 in pre-open trading on the news.

PIER 1 IMPORTS INC (PIR, 11.82)- The retailer of decorative home furnishings met expectations as its first quarter earnings  fell to 13 cents per share from last year's 17 cents.  Revenues in the quarter increased 8.6% to $325.4 million, and same store sales rose 2.8%.

SIZZLER INTERNATIONAL INC (SZ, 1.50)- The steakhouse restaurant operator said its fourth quarter earnings fell to three cents per share from last year's nine cents.  Revenues in the quarter increased 7% to $59.1 million.

WATERS CORP (WAT, 42.57)- The maker of liquid chromatography and thermal analysis instruments warned that its second quarter earnings will fall short of expectations due to below forecast sales growth.  The company now sees earnings of 29 cents per share, compared to analysts' estimates of 33 cents.

BRIDGFORD FOODS CORP (BRID, 12.90)- The maker of convenience food products missed estimates by six cents as its first quarter earnings fell to 17 cents per share from last year's 22 cents.  Revenues in the quarter rose 4.6% to $38.5 million.  The company attributed the earnings decline to higher costs for packaging materials, pork supplies, fuel, and utilities.

CENDANT CORP (CD, 18.45)- The consumer services company has agreed to acquire travel reservations system operator Galileo International (GLC, 29.80) for $33 per share in a $2.9 billion cash and stock deal.  Under the terms of the deal, GLC shareholders will receive approximately $6.44 in cash and $26.56 in Cendant stock for each Galileo share held.
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GLC

MEDIA GENERAL INC (MEG.a, 49.10)- The publisher said May revenues fell 4% to $64.7 million due to continued weakness in advertising sales.  The company warned that it sees second quarter earnings of 35 cents per share, compared to analysts' estimates of 46 cents.

ORYX TECHNOLOGY CORP (ORYXC, 0.34)- The maker of surge protection products announced a one-for-ten reverse stock split.

SNAP-ON INC (SNA, 28.57)- The maker of hand and power tools warned that its second quarter results will fall short of expectations due to slowing economic conditions in the U.S. and Europe.  The company now sees revenues dropping 4%, and expects to report earnings of 40 cents per share.  Analysts were looking for the company to earn 67 cents.

STANDARD MICROSYSTEMS CORP (SMSC, 14.91)- The chipmaker missed estimates by a penny as it reported a first quarter loss of 10 cents per share, compared to last year's profit of 14 cents.  Revenues in the quarter slid 19.1% to $30.8 million.  Gross margins fell to 38.2% from last year's 41.2%.