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THIS MORNING'S STOCKS
WEEK OF 10/01/99-10/08/99 |
10/08/99 |
| ACE
LTD (ACL,
16.13)- The insurer warned that catastrophic losses will reduce third
quarter operating income by $35 million. Analysts had expected the
company to earn 51 cents per share in the quarter.
ALIGN RITE INTERNATIONAL (MASK,
18.56)- The company warned that second quarter earnings and revenues
will be below previous estimates due to startup expenses and a weakening
in demand in the disk drive industry in September. The company now
sees earnings of $0.19-$0.21 per share in the quarter, compared to
analysts' estimates of 26 cents. The company expects revenues to
increase 11% to $15.6 million in the quarter.
CONNING CORP (CNNG,
10.88)- The institutional asset management company warned that
"volatile market conditions" will cause third quarter and full
year earnings to fall short of expectations. The company sees third
quarter earnings of $0.16-$0.18 per share, analysts were looking for 29
cents.
DATUM INC (DATM,
6.81)- The maker of timing devices for communications equipment warned
that it will report a wider than expected third quarter loss of 11 to 14
cents per share, compared to expectations of a loss of 6 cents. The
company blamed the lowered expectations on a revenue shortfall.
HI/FN INC (HIFN,
74)- The maker of network security products said it expects fourth
quarter earnings to exceed the current consensus estimate of 37 cents per
share. The company also warned that a reduction in orders from two
major customers will result in fiscal fist quarter revenues falling short
of expectations. The company now expects first quarter earnings to
be $10 million.
PRINTRONIX INC (PTNX,
19.25)- The printer manufacturer missed estimates by a penny as it
earned 32 cents per share in its second quarter, a decline from last
year's 37 cents. Revenues rose $3.6 million to $45.3 million in the
quarter. Gross margin rose to 33.2% from 32.4% last year, but was
flat on a sequential basis. The company attributed its decline in
earnings to higher costs and taxes. |
10/07/99 |
| ADVANCED
MICRO DEVICES (AMD,
19.43)- The chipmaker reported a narrower than expected loss of
72 cents per share in its third quarter. Analysts were looking
for the company to lose 98 cents in the quarter. Revenue rose
11% sequentially, but fell 3% from the prior year's third quarter to
$685.9 million.
BARNES & NOBLE (BKS,
26.5)- The bookseller will by software and video game retailer
Babbages Etc. LLC for $215 million. The company expects the
deal to increase its fourth quarter earnings by 10 cents per share.
BMC SOFTWARE INC (BMCS,
70)- The software maker warned that second quarter earnings will
be 40 to 42 cents per share, compared to analysts expectations of 43
cents. The company expects revenues to be in line with
expectations. BMCS blamed the lowered expectations on delays in
closing sales in Europe.
JDA SOFTWARE GROUP (JDAS,
11.38)- The software maker warned that third quarter earnings
and revenues will be below expectations. The company sees
revenues falling to $35 million in the quarter, compared to $38.9
million last year. The company sees earnings at breakeven to a
penny per share in the quarter. Analysts were looking for 3
cents per share. The company blamed the shortfall on Y2K
related delays in closing sales.
YAHOO INC (YHOO,
175.75)- The Internet portal beat its "whisper number"
by 2 cents as it earned 14 cents per share in its third quarter.
Revenues rose to $155.1 million in the quarter from last year's
$66.29 million. The shares jumped 6 points in after hours
trading on the news. |
|
10/06/99 |
| ASARCO
INC (AR,
26.75)- The copper producer has agreed to be acquired by Phelps
Dodge (PD,
53.56) in a $1.1 billion deal. Asarco shareholders will have the
option of receiving either $29.50 for each share of Asarco held, or 0.5
shares of Phelps Dodge stock for each Asarco share. Phelps Dodge
expects its acquisitions of Asarco and the recently acquired Cyprus Amax
to be accretive to earnings in 2001. The company says the
acquisitions will be accretive to this year's cash flow.
COMBICHEM INC (CCHM,
5.68)- The drug discovery company has agreed to be acquired by DuPont
(DD,
63.81) for $6.75 per share in a $95 million cash deal.
HEALTHCARE RECOVERIES (HCRI,
3.38)- The healthcare claims insurance company warned that third
quarter earnings will be $0.09-$0.11 per share, compared to analysts'
expectations of 13 cents. The company blamed the shortfall on lower than
expected insurance claims recoveries. The company also said that it
has hired DLJ to explore strategic alternatives to enhance shareholder
value.
QUADRAMED CORP (QMDC,
7.38)- The healthcare software company warned that third quarter
earnings will be below expectations due to higher expenses and a
shift in revenues towards lower margin lines. The company sees
earnings of $0.13-$0.15 in the quarter, analysts were looking for 24 cents
per share.
SAFETY KLEEN CORP (SK,
12.25)- The waste services company missed estimates by 2 cents as
earnings increased 27.3% to 28 cents per share (excluding a one-time $15
million charge) in its fourth quarter. Revenues fell to $415.9
million from $435 million in last year's third quarter.
WINNEBAGO INDUSTRIES (WGO,
23.63)- The maker of motor homes beat estimates by 12 cents per share
in its fiscal fourth quarter. Earnings rose 36% to 44 cents per
share in the quarter, and revenues increased 26% to $164.3 million.
The company said its order backlog rose 46% from the prior year. |
10/05/99 |
| ADEPT
TECHNOLOGY (ADTK, 7.13)- The
software maker warned that it will lose 19 to 21 cents per share in its
fiscal first quarter. Analysts were looking for a profit of 9 cents
in the quarter. The company blamed the shortfall on supplier
delivery problems and seasonal slowness.
COMFORT SYSTEMS USA (FIX,
11.68)- The provider of HVAC systems warned that third quarter
earnings will fall short of expectations due to slower growth in the
construction industry and Hurricane Floyd. The company now sees
earnings of $0.33-$0.34 per share in the quarter, compared to analysts'
expectations of 43 cents.
HALLIBURTON CO (HAL,
39.75)- The oil services company
IOMEGA CORP (IOM,
3.81)- The Zip drive maker warned that it will lose $5 million in its
third quarter. The company also said it will take a $25-$30 million
restructuring charge and reduce its workforce by 140. The company
expects revenues in the quarter to exceed last year's $349 million.
MERISEL INC (MSEL,
1.75)- The PC distributor warned that its third quarter loss will be
11 to 15 cents per share, compared to expectations of a loss of 8
cents. The company attributed the wider than expected loss forecast
to unfavorable industry conditions.
MICRON TECHNOLOGY (MU,
76.38)- The chipmaker beat estimates by 11 cents as it reported a
narrower than expected fiscal fourth quarter loss of 7 cents per
share. Revenues in the quarter rose to $820.9 million from last
year's $377.4 million.
SHOWCASE CORP (SHWC,
9.5)- The software maker warned that second quarter earnings and
revenues will be below expectations. The company sees revenues roughly
flat with last year's second quarter, and a loss of $0.16-$0.18 per share
in the quarter, compared to analysts' expectations of a profit of 2 cents.
SPRINT CORP (FON,
60.88)- The telecom has agreed to be acquired by MCI WorldCom (WCOM,
71.63)` for $76 per share in a $129 billion deal. The shares
rose 3 points in after hours trading on the news.
|
10/04/99 |
| CERIDIAN
CORP (CEN,
20.63)- The info services provider warned that fourth quarter earnings
will be $0.25-$0.27 per share. Analysts were looking for the company
to earn 31 cents in the quarter. The company blamed the shortfall on
temporary Y2K related delays in the deployment of its payroll systems with
large customers. The company said it expects to meet the consensus
analyst estimate of $1.29 for full year 2000.
EPITOPE INC (EPTO,
6.43)- The medical device maker said CEO John W. Morgan resigned to pursue
other interests.
HUGHES ELECTRONICS (GMH,
56.25)- The company received a favorable mention in this weekend's
Barron's.
INTEL CORP (INTC,
74.94)- The chipmaker was the subject of a negative cover story in
this week's Barron's. The story suggested the company is facing
increased competition in many of its markets.
OLSTEN CORP (OLS,
10.25)- The provider of staffing services restated earnings for Q2
1998, Q3 1998, full year 1998, Q1 1999, and Q2 1999. Full year 1998
earnings were restated to a loss of 44 cents per share from the previously
reported profit of 5 cents. The earnings restatement resulted from
an accounting adjustment as the company shifted a $56 million charge
originally taken in Q1 1999 to Q3 1999.
ROGUE WAVE SOFTWARE (RWAV,
5.94)- The software maker warned that it will incur a loss of 3 to 5
cents per share in its fourth quarter. The company added that full
year results will fall in the range of $0.17-$0.19. Analysts were
looking for a fourth quarter profit of 7 cents and full year earnings of
31 cents per share.
SOUTHERN ENERGY HOMES (SEHI,
2.94)- The manufactured homes builder warned that high retail
inventories and increased competition will cause third and fourth quarter
earnings to fall short of expectations. The company now expects to
report a third quarter net loss. Analysts were looking for a profit
of 6 cents. |
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