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THIS MORNING'S STOCKS WEEK OF
9/20/99-9/24/99 |
9/24/99 |
ADAPTEC
INC (ADPT,
33.19)- The SCSI card maker will join the S&P 500 Index after the
close on September 30th.
ANALOG DEVICES (ADI,
55.5)- The chipmaker will join the S&P 500 Index.
DARDEN RESTAURANTS (DRI,
18.25)- The restaurant operator beat estimates by 5 cents as first
quarter earnings rose 46% to 35 cents per share. Sales increased 5%
to $929.4 million in the quarter. The company attributed its better
than expected performance to strong growth at its Red Lobster and Olive
Garden restaurant chains.
INTUIT INC (INTU,
100.56)- The maker of tax software said that CEO Bill Harris resigned
to pursue his "entrepreneurial interests". The shares fell
3 1/2 in after hours trading on the news.
MEDQUIST (MEDQ,
30)- The company expects third quarter earnings to exceed the current
consensus estimate of 25 cents per share. No further details were
given.
NATIONAL WESTMINSTER BANK (NW,
101)- Bank of Scotland has made a �20.85
billion hostile bid for the bank. The shares rose 23% on the news in
London.
PRIME HOSPITALITY (PDQ,
8.75)- The hotel operator warned that disruptions caused by Hurricane
Floyd will result in third and fourth quarter earnings coming in below
current expectations. The company now sees third quarter earnings of
28 cents per share and fourth quarter earnings of $0.24-$0.25.
Analysts were looking for 30 cents in the third quarter and 27 cents in
the fourth quarter.
RESEARCH IN MOTION (RIMM,
28.75)- The maker of wireless products beat expectations by 2 cents as
it earned 5 cents per share in its second quarter. Revenue rose to
C$28.7 million in the quarter from last year's C$8.4 million.
RICHARDSON ELECTRONICS (RELL,
8.03)- The electronics distributor beat estimates by 7 cents, earning
21 cents per share in its fiscal first quarter. Revenue rose 26% to
$95.6 million in the quarter.
UNION CARBIDE (UK,
55)- The chemical company warned that higher raw material prices will
hurt third quarter earnings. The company expects its earnings
(including a one-time gain of $38 million) to "approximate" the
current analyst estimate of 56 cents. Analysts were looking for the
company to make 56 cents excluding the gain. Stripping out the one
time gain, the company will miss estimates by approximately 19-20 cents.
WATSCO INC (WSO,
12.94)- The air conditioning distributor warned that third quarter
earnings will be 39 cents per share, 5 cents below expectations. The
company blamed the shortfall on Hurricane Floyd and cooler temperatures. |
9/23/99 |
AGL
RESOURCES (ATG,
17.75)- The holding company for Atlanta Gas Light Co. warned that
fourth quarter earnings will be below the current consensus estimate of 17
cents per share. The company blamed the shortfall on a faster than
expected pace of "customer migration" to competitors following
deregulation.
BED, BATH & BEYOND (BBBY,
32)- The retailer's second quarter earnings rose 30.4% to 23 cents per
share, beating estimates by a penny. Revenues rose 32.7% to $457.6
million in the quarter, and same store sales increased 9.7%.
CABLE DESIGN TECHNOLOGIES (CDT,
22.43)- The maker of data transmission cables beat estimates by 9
cents, earning 48 cents per share in its fourth quarter. Revenue in
the quarter rose to $183.9 million from last year's $166.2 million.
The company's gross margin fell to 31.2% from the prior year's 31.3%.
CIPRICO INC (CPCI,
12.68)- The company warned that a decline in orders from a large
customer will result in fourth quarter earnings falling short of the
current consensus estimate of 15 cents per share.
COGNOS INC (COGN,
19.75)- The enterprise software maker missed estimates by a penny,
earning 30 cents per share in its second quarter. Revenue rose to
$88.1 million from $70.6 million.
COLDWATER CREEK (CWTR,
18.81)- The catalog retailer earned 9 cents per share, excluding a
one-time 5 cent gain, in its second quarter, beating estimates by 3
cents. Revenues fell $1.2 million to $59.8 million in the quarter.
CYBERIAN OUTPOST (COOL,
8.75)- The Internet based retailer reported a narrower than expected
loss of 36 cents per share in its second quarter. Analysts were
looking for a loss of 41 cents. Revenue rose 115% to $36.7 million
in the quarter.
GLOBAL CROSSING (GBLX,
24.38)- The telecom will join the S&P 500 following its merger
with Frontier Corp.
HEILIG-MYERS (HMY,
4.68)- The home furnishings retailer missed estimates by 2 cents,
earning 5 cents per share in its second quarter.
HERMAN MILLER (MLHR,
22.94)- The maker of office furniture beat estimates by 2 cents,
earning 43 cents per share in its fiscal first quarter. Sales rose
5.7% to $472.8 million, and the company's order backlog increased
20.8%. The company said its North American operating margins were
hurt by a change in product mix during the quarter.
MANCHESTER EQUIPMENT (MANC,
2.75)- The computer reseller earned 15 cents per share in its fourth quarter, compared
to 7 cents last year. Revenue rose 21.2% to $63 million in the
quarter.
VANS INC (VANS,
12.25)- The shoemaker beat estimates by a penny, earning 42 cents per
share in its first quarter as revenues rose 25.5% to $82.2 million.
International sales rose 86.3% in the quarter. |
9/22/99 |
ATLAS
AIR INC (CGO,
20.75)- The airfreight company warned that hurricane and earthquake
related disruptions could impact its third quarter earnings.
BOTTOMLINE TECHNOLOGIES (EPAY,
25)- The provider of e-commerce payment solutions warned that lower
than expected revenues due to a Y2K related spending slowdown by its
customers will result in a first quarter loss of up to 10 cents per
share. Analysts were looking for a profit of 8 cents. The
company now expects revenues of $8.2-$8.5 million during the quarter.
CONAGRA INC (CAG,
24.43)- The company beat estimates by a penny as first quarter
earnings rose 17.4% to 27 cents per share. Revenue rose 1.7% to
$6.59 billion in the quarter. The company said it expects to achieve
"double digit earnings growth" in the current fiscal year.
FAIRCHILD SEMICONDUCTOR (FCS,
31)- The semiconductor maker beat estimates by 7 cents, earning 21
cents per share in its first quarter. Revenue rose 114% to $324.5
million in the quarter. The company said that it expects industry
conditions to continue to improve.
MAXWELL TECHNOLOGIES (MXWL,
19.56)- The maker of power systems earned 38 cents per share in its
fourth quarter, 3 cents above expectations. Revenues rose 24% to
$49.8 million in the quarter.
OPTICAL COATING LABORATORY (OCLI,
88.63)- The company announced a 2 for 1 stock split.
3COM CORP (COMS,
27.31)- The network equipment company beat estimates by 9 cents as it
earned 33 cents per share in its fiscal first quarter, an increase of 38%
from last year's first quarter. Revenues declined to $1.39 billion
in the quarter from the prior year's $1.41 billion. The shares rose
2.75 in after hours trading on the better than expected results.
UNIFI INC (UFI,
13.81)- The textile maker warned that losses in Ireland and Brazil
will cause first quarter earnings to fall at least 50% short of the
current consensus analyst estimate of 19 cents per share. |
9/21/99 |
APPLE
COMPUTER (AAPL,
79.06)- The PC maker's shares tumbled 10 points in after hours trading
after it warned that it will miss fourth quarter revenue and earnings
targets due to a shortage of G4 processors. The company now expects
earnings of $75-$85 million ($o.42-$0.50 per share), analysts were looking
for 76 cents. The company described the problem as a "temporary
issue".
BED, BATH, & BEYOND (BBBY,
28.88)- The retailer will join the S&P 500 Index after today's
close. The shares gained 2 points in after hours trading on the
news.
BREED TECHNOLOGIES (BDT,
0.56)- The air bag maker has filed for Chapter 11 bankruptcy
protection.
CABLETRON SYSTEMS (CS,
19.13)- The provider of networking solutions met expectations of a
second quarter profit of 7 cents per share, an increase of 14.7% from last
year's second quarter. Second quarter revenue fell $14 million to
$356.6 million.
COREL CORP (CORL,
6.94)- The software maker earned 17 cents per share in its third
quarter, excluding a one-time gain of 9 cents, beating estimates by 8
cents. The company lost 13 cents in last year's third quarter.
Revenue in the quarter inched up to $71.3 million from last year's $71.1
million. The company attributed the better than expected results to
strong sales of new versions of its Word Perfect and Corel Draw
software. The shares jumped 2 points to $9 in after hours trading.
GST TELECOMMUNICATIONS (GSTX,
10.94)- The telecom provider warned that it will report a wider than
expected third quarter loss of $0.90-$1.00 per share (excluding a one time
$30 million settlement). Analysts were looking for a loss of 83
cents.
MARSHALL INDUSTRIES (MI,
37.81)- The distributor of electronic components beat estimates by 20
cents, earning 50 cents per share in its fiscal first quarter.
Revenue rose $4.1 million from the prior year's first quarter to $446.9
million.
OXFORD INDUSTRIES (OXM,
21.75)- The apparel manufacturer earned 60 cents per share in its
first quarter, meeting expectations. Revenue fell 6.5% to $185.7
million in the quarter. The company attributed the lower revenues to
lower than expected shipments of private label apparel. Gross
margins fell to 18.1% from 20.2% in last year's first quarter.
SUPERIOR CONSULTANT HOLDINGS (SUPC,
21)- The provider of outsourcing services warned that full year 1999
earnings will be $0.60-$0.65 per share. Analysts were looking for
earnings of $1.25. The company blamed the lowered expectations of
higher costs, and a Y2K related slowdown in spending by its customers. |
9/20/99 |
CAVANAUGHS
HOSPITALITY (CVH,
7.88)- The hotel operator warned that third quarter earnings will be
below expectations. The company sees earnings of $0.31-$0.34 per
share, analysts' were looking for $0.38. The company blamed the
shortfall on weak demand at its Cavanaughs Olympus Hotel in Salt Lake
City.
HAPPY KIDS (HKID,
10.43)- The children's apparel maker agreed to be acquired by H.I.G.
Capital LLC for $12 per share in an all cash deal.
INNSUITES HOSPITALITY TRUST (IHT,
2.5)- The REIT's first half Funds From Operations increased to $0.37
per share from last year's $0.10. Revenues rose 13% to $5.39 million
in the quarter.
J.B. HUNT TRANSPORT (JBHT,
14)- The trucking company warned that third quarter earnings will be
14 to 18 cents per share, compared to current expectations of 34
cents. The company also said it plans to split off its intermodal
business.
KAYDON CORP (KDN,
27.13)- The maker of engineered products warned that third quarter
earnings will be $0.40-$0.43 per share, compared to analysts' estimates of
57 cents. The shares fell 5 points in after hours trading on the
news.
PRECISION CASTPARTS (PCP,
34.31)- The maker of metal components and products warned that second
quarter earnings and revenues will be below current analyst
expectations. Analysts were looking for a profit of $1.01 per share
in the quarter. The company blamed the shortfall on weaker than
expected conditions in its major markets.
SPAIN FUND (SNF,
14.63)- The closed-end mutual fund's shareholders have voted against a
proposal to convert the fund to an open-end mutual fund.
SUN MICROSYSTEMS (SUNW,
88.68)- The company announced a 2 for 1 stock split.
THOMASTON MILLS (TMSTA,
2.13)- The textile maker reported a wider than expected fiscal 1999
loss of $2.65 per share, compared to analysts' expectations of a loss of
$1.97. Revenues fell 15% to $168.35 million. |
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