ADOBE SYSTEMS
(ADBE, 49.75)- The software company beat estimates
by 8 cents a share in its first quarter. For the quarter, earnings rose 57.9% and
revenues increased by 15%. The company expects second quarter profits to exceed
analyst estimates by 7 to 11 cents a share. The stock rose sharply on Instinet after
the news.
CAMBRIDGE TECHNOLOGY
PARTNERS (CATP, 21)- CATP warned that slow sales
growth and a decrease in demand for its ERP software will cause it to miss first quarter
analyst estimates. Revenues will miss estimates by $12-$22 million in the quarter and
earnings will be 10 to 12 cents below expectations. The stock is already down from a
52-week high of 58.38 and will likely come under pressure today.
COX COMMUNICATIONS (COX, 77.06)- The company announced a 2 for 1 stock split. The shares will rise on the
news.
GEORGIA PACIFIC (GP, 79.5)- The paper company expects first quarter earnings to be above current
estimates due to strong sales and increased pricing power for its products. GP sees
$1 a share in the quarter versus analyst estimates of 43 cents. The shares rose $1
on Instinet and could lead the paper sector higher today.
HOT TOPIC (HOTT, 12.68)- The apparel retailer beat estimates by 8 cents a share in its fourth
quarter. Revenues rose 36% in the quarter and same store sales declined by 5.9%. The
company said sales are ahead of expectations in the current quarter. The stock has
fallen from 30 last spring, and will likely rise strongly on the earnings news today.
IVILLAGE (IVIL,_)- The Internet company's IPO was priced at $24 a share and will begin
trading (at higher prices when it opens) today.
MERRILL LYNCH (MER, 92.13)- The brokerage is considering a merger bid from Chase Manhattan according
to Forbes Magazine. The news should give a boost to the Financial sector today.
NIKE CORP (NKE, 54.5)- The athletic shoe making giant beat analyst estimates by 6 cents a share
as earnings increased to $0.44 from last year's $0.25 a share. Revenue dropped 2%
and the company said near term growth would continue to be effected by "softness in
the U.S. athletic footwear and apparel retail market". Orders for the 3/99-6/99
period are down 4 percent over the prior year. The stock was marginally higher on
Instinet after the news, but has already run up from a low of 31 in September.
SUN SOURCE (SDP, 17.94)- The company warned that it will miss first quarter estimates by 8 to 12
cents a share due to global economic weakness and "continued weakness in its
Technology Services Division". The company still expects 1999 earnings to beat
last year's figures.
VLSI TECHNOLOGY (VLSI, 18.94)- The company has rejected Philips Electronics takeover bid and will
explore other options to maximize shareholder value. The shares rose in after hours
trading on the news.
3/18/99
ADVANCED LIGHTING
TECHNOLOGIES (ADLT, 7.38)- General Electric will
raise its stake in the lighting systems manufacturer by buying $20 million of convertible
preferred stock.
AETRIUM (ATRM, 8)- The company warned that it will report a wider than expected first
quarter loss of $0.22-$0.24 a share because of a decline in sequential bookings due to
weak semiconductor market conditions.
AMR CORP (AMR, 57.5)- The airline warned that first quarter earnings will be 30 to 35 cents a
share versus analysts estimates of 72 cents a share. AMR blamed last month's work slowdown
by pilots for the earnings shortfall. The stock fell in afterhours trading and the
disappointing earnings news will likely negatively impact other airline stocks today.
BOOKS-A-MILLION (BAMM, 11.31)- The bookseller, which earlier this year saw its stock jump from 3 1/2 to
47 after announcing plans to sell its books on the internet, reported earnings that were 1
cent below both analyst expectation and the year ago period. Sales rose 3% for the
period, but same store sales declined by 0.9%.
CMGI (CMGI, 175.38)- The internet company announced a 2 for 1 stock split after the close.
CMGI shares jumped $18 in after hours trading. The shares will likely
continue higher this morning and lift other internet shares in their wake.
ELECTRONICS BOUTIQUE HOLDINGS (ELBO, 14.5)- The game retailer beat estimates by 4 cents in its fourth quarter.
Revenues rose 25% to $252.9 million in the quarter and comparable store sales rose
14.6%. The company also said that e-commerce sales increased by 1200% and there were 3.5
million visitors to its web site in the quarter. The shares will likely rise on the
earnings news today.
ENGELHARD (EC, 18.25)- The specialty chemical maker warned that first quarter earnings will
miss analyst estimates by 4 cents a share. According to the company, "the
first-quarter shortfall reflects the comparison with unusually high earnings from its
industrial commodities management business in the year-ago quarter."
GENERAL CABLE (GCN, 12.75)- The wire and cable maker warned that first quarter earnings will be
significantly below expectations due to intense pricing pressure in its main markets.
The company expects to earn 15 to 17 cents a share compared with analyst estimates
of 35 cents a share. The shares were unavailable for after hours trading following
the news. The shares have already fallen from a 52-week high of 32.88.
GENESIS MICROCHIP (GNSS, 31.56)- The company beat analyst estimates by 7 cents a share in its third
quarter. Net income increased 35% sequentially and 165% year over year. Revenues
rose by 141%. The company attributed the strong results to strong growth in the flat panel
LCD monitor market. GNSS shares, which have risen from a 52-week low of $5.88, will
rise on the news today.
HERMAN MILLER (MLHR, 16.25)- The company beat analyst estimates of $0.32 a share by 2 cents in its
third quarter. Sales decreased 3.5% for the quarter and new orders declined by 6.4%.
The company blamed a softening of demand in its U.S. markets for the lower
revenues. The shares are down from a 52-week high of 36.25.
RF MONOLITHICS (RFMI, 10.5)- The company reported second quarter earnings 5 cents a share below
estimates as sales dropped 1%. The radio frequency filter maker blamed the shortfall
on an order delay and pricing pressures in its low power components line. The
company expects sales growth to be "flat to modest" during the second half of
its fiscal year. The shares will take a hit today.
STERICYCLE (SRCL, 15)- The environmental services company beat analyst estimates by 6
cents a share in its fourth quarter. Revenues rose 73% and net income jumped 233%
for the quarter. Look for the shares of this acquisitive company to rise strongly
today.
3/17/99
COMVERSE
TECHNOLOGY (CMVT, 83.19)- The messaging equipment
company beat analyst's fourth quarter estimates by 3 cents a share (diluted). The
shares will get a boost from the earnings news this morning, and will get a larger boost
following CMVT's announcement of a 3 for 2 stock split.
DANIEL INDUSTRIES (DAN, 12.06)- The company announced that it has rejected an unsolicited $15 a share
bid for the oil services firm. According to the company's CEO, the frim has hired an
investment banking company "to assist Daniel in evaluating its strategic options for
maximizing the value of the Company to its stockholders". The shares, which have been
lagging the rest of the oil service stocks, will rise on the news.
FOAMEX INTERNATIONAL (FMXI, 7.56)- The company warned that preliminary fourth quarter results show that
Foamex lost $1.37 a share. Gross margins slumped to 2.7% from 7.8% the year before.
Foamex also announced the resignation of its CEO. The company stated that it
has begun a cost cutting program and that it has hired J.P. Morgan "to explore
strategic alternatives to maximize shareholder value."
JABIL CIRCUIT (JBL, 41)- The company beat second quarter estimates by a penny a share.
Sales jumped 49% and net income increased by 7%. The revenue gain is impressive, but
we are not impressed by a 7% gain in net income for a company which is trading at 38 times
this year's earnings estimates. Avoid.
LEAR CORP (LEA, 36.38)- The car seat maker's shares will get a boost on the news that it has
bought United Technologies auto parts subsidiary in a deal worth $2.3 billion. The
deal will add a nickel a share to Lear's earnings this year.
REXALL SUNDOWN (RXSD, 20.25)- The company announced a $100 million share buy back and announced second
quarter earnings which met analyst estimates of $0.23. Revenues rose 23% in the
quarter. The shares have been moving higher recently.
SAKS (SKS, 28.94)- The upscale department store operator reported a 26% increase in
earnings to 97 cents a share. The company then warned that it will take $35 million
in charges to cover costs associated with acquisitions it made last year. The shares
will likely come under pressure this morning.
3/16/99
AARON RENTS (RNT,
14)- The furniture rental company's fourth quarter
earnings beat analyst estimates by a penny a share. Revenues rose 21% for the
quarter and profits increased by 13%. The company anticipates continued strong
growth this year. The shares have been forming a double bottom since September and
should get a boost from this earnings report.
ATCHISON CASTING (FDY, 8.63)-
The company warned that earnings will fall far short of analyst estimates. FDY said
that customer order delays and continued weakness in several of its markets will cause
earnings to fall to $0.20-$0.30 a share, versus estimates of $0.38. The shares will
come under pressure today, but they have fallen from a 52-week high of $20.13 and
represent good value at current levels.
AMR Corp (AMR, 61.75)- The airline warned that last month's pilots slowdown will reduce 1999
earnings. This news was already priced into the stock and will be negated by
continued positive sentiment towards airline stocks following UAL's upbeat forecast
yesterday.
BOSTON LIFE SCIENCES (BLSI, 9.56)- New research to be published today shows that a drug being developed by
the company is effective in treating cancer in mice. Human trials will begin
shortly. Look for the shares to rise sharply on the news.
DUNN COMPUTER (DNCC, 3.06)- The computer maker's first quarter loss was 5 cents wider than expected.
The company attributed the loss to pricing pressures and slowing PC sales.
The shares are already down from $10 and today's news should have little effect.
MICROSOFT (MSFT, 165.88)- The software giant expects this year's earnings to beat current analyst
expectations. Stock will rise on the news.
MICRO TOUCH SYSTEMS (MTSI, 16.13)- The company warned that first quarter earnings will be below
expectations due to costs arising from a court battle with an ex-employee.
SOLECTRON (SLR, 48.38)- SLR 's second quarter earnings met analyst estimates. The stock
was down a point after the close on the news.
3/15/99
AMERICAN
BANCSHARES (ABAN, 9.63)- The company's 4th quarter
earnings fell to $.08 and were below analyst estimates of 14 cents a share. The
shares should escape any damage today as a rising banking sector lifts all boats on the
back of the Fleet-BankBoston deal.
BACOU
USA (BAU, 19.06)- The company warned that it will
miss first quarter estimates due to slow first quarter sales of its personal protection
products. The company attributed the sluggish sales to lower than expected demand
for some of its products and high inventory levels at distributors. The shares will
decline on the news.
BANK BOSTON (BKB, 46.94)- The Boston based bank has agreed to be taken over by Fleet Financial
Group in a $16 billion dollar deal for $53 a share. The news will give a further
boost to financial sector stocks today, which have been among the market leaders of late.
BANC ONE (ONE, 54.94)- A favorable mention in Barron's this weekend will lift the Ohio banking
giant's shares. An analyst said ONE is worth $75 a share.
BERKSHIRE HATHAWAY (BRK.A, 80300)- Warren Buffet told shareholders that in 1998 he increased his holdings
in AXP, and decreased his holdings in: C, DIS,
FRE, WFC. Look for AXP shares to rise on the news
and DIS, FRE to fall. BankBoston deal will negate any negative effects on the shares of C,
and WFC.
CMGI (CMGI, 164)- The company will be added to the NASDAQ 100. The news should help
to end the stock's post earnings decline.
COMPAQ COMPUTER (CPQ, 30.25)- The leading PC maker has been hit with two class action lawsuits.
News will have a negligible effect on the already weak shares which are trading at
support.
DOMINGUEZ SERVICES (DOMZ, 26.25)- The utility's 4th quarter earnings fell to $0.17 a share excluding
charges on a 7% drop in gross revenues. Including charges, the company lost 16 cents
a share.
PIONEER HI-BRED (PHB, 34.31)- The seed maker will be bought by DuPont for $40 a share in a $7.5
billion dollar deal. Pioneer's shares soared 40% Friday on the rumor, and they will
rise another 10-20% today on the news.
SONAT (SNT, 30.06)- El Paso Energy will buy the company for $3.9 billion in an approved
deal. Sonat shareholders will receive 1 share of El Paso Energy (currently
$35.75) for each Sonat share.
ST JOHNS KNITS (SJK, 26.25)- The apparel company missed analyst estimates by 2 cents a share as
earnings slumped 37% to $0.34 a share. Revenues for the first quarter rose 7% from
the prior year. On a positive note, same store sales for the company's Retail Boutiques
rose 21% in the quarter. The shares are down from a 52-week high of $48.31.
USANA (USNA, 9.75)- The company warned that revenues will be 8% below estimates due to slow
U.S. and U.K. sales and that it will miss earnings estimates as a result.
Copyright �
1998-1999 Tulips and Bears LLC.
All Rights Reserved. Republication of this material,
including posting to message boards or news groups,
without the prior written consent of Tulips and Bears LLC
is strictly prohibited.
Last modified: April 02, 2000
Published By Tulips and Bears
LLC