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TECHNICAL ANALYSIS 

 SEC FILINGS

CERNER CORP (CERN, 18)- The healthcare information systems company warned that second quarter earnings will fall short of current analysts' estimates.  The company expects earnings of breakeven to 10 cents a share, analysts were looking for 10 cents.  The company blamed a delay in customer purchasing decisions due to Y2K concerns and the Federal Balanced Budget Act for the earnings shortfall.

HMT TECHNOLOGY (HMTT, 2.25)- The disk drive component maker warned that lower than expected unit shipments and pricing pressures will result in a wider than expected first quarter loss.  The company expects its loss in the quarter to exceed 23 cents, analysts were looking for a loss of 22 cents.

PERCLOSE (PERC, 39.5)- The medical device maker has agreed to be acquired by Abbott Laboratories for $54 a share in a $60 million deal.  The company also announced it has begun a voluntary recall of certain shipments of its Techstar XL 6F product.

QUALCOMM (QCOM, 142.25)- The company will be added to the S&P 500.

AMERICAN EAGLE OUTFITTERS (AEOS, 51.19)- The apparel retailer reported a 26.3% jump in June same store sales.  June revenues shot up 49.9% to $70.0 million.

BERGEN BRUNSWICK (BBC, 16.19)- The drug distributor warned that third quarter and full year earnings will fall short of expectations.  The company sees earnings of $0.25-$0.27 in the quarter and $1.10-$1.15 for the full year, analysts were looking for $0.31 in the quarter and $1.24 for the full year.  The company blamed the weaker than expected outlook on "negative industry trends" caused by the new Medicare payment system.

CHAMPION INTERNATIONAL (CHA, 50.5)- The forest products company said it expects second quarter earnings to top last year's 33 cents a share, analysts were looking for 17 cents in the quarter.

COMPUTER HORIZONS (CHRZ, 13)- The information technology services company warned that second quarter and full year earnings and revenues will be below current estimates due to softness in the IT services industry as customers cut back on spending.  The company sees second quarter earnings of $0.23-$0.25 a share, compared to analysts' expectations of $0.31, and it sees full year earnings of $0.85-$1.00, compared to estimates of $1.31.  Full year revenues will be $520-$565 million.

GYMBOREE CORP (GYMB, 9.12)- The children's apparel designer warned that it will lose 20 to 25 cents a share in its second quarter (excluding a 35 cent charge).  Analysts were looking for a 2 cent loss.   The company said June sales fell 20% to $40.9 million, and June same store sales tumbled 33%.

MINNTECH CORP (MNTX, 14.13)- The company warned that first quarter revenue growth will be flat and earnings will be 16 to 18 cents a share, compared to current estimates of a 24 cents profit.  The company blamed a shift to lower gross margin products for the shortfall.

OCE N.V. (OCENY, 26.38)- The Dutch maker of copy machines reported disappointing second quarter revenues and earnings.   Revenues rose just 1% in the quarter, and earnings rose 6% to 35.2 million euros, compared to estimates of a 37 million euro profit.

PHILIP MORRIS (MO, 40.5)- The cigarette maker's shares tumbled 2 1/2 points in after hours trading after a Miami jury found that tobacco companies can be held liable for punitive damages arising from illnesses caused by smoking, including lung cancer and emphysema.  The jury also found that cigarette makers conspired to hide the dangers of smoking, and knowingly produced a defective product.  The potential damage claims from the class action lawsuit could total $500 billion.  Tobacco stocks, both domestic and European, are down across the board on the news in European trading.

VALUEVISION (VVTV, 24.68)- General Electric has increased its stake in the cable shopping network to 39.9%.

MELITA INTERNATIONAL (MELI, 11.43)- The provider of contact management solutions warned that second quarter earnings and revenues will be 12 to 14 cents a share, compared to expectations of a 20 cent profit.  The company said revenues will be $24-$25 million in the quarter.  The company blamed a delay in closing several sales for the disappointing results.

NCI BUILDING SYSTEMS (NCS, 22.94)- The manufacturer of metal building products warned that its third quarter earnings will fall short of expectations.  The company sees 58 cents a share, analysts were looking for 83 cents.  The company said it is experiencing some "cost pressure" in its component operations.

NEW ERA OF NETWORKS (NEON, 44.06)- The company's shares tumbled 23 points in after hours trading after it warned that a delay in closing several sales during the quarter and increased infrastructure expenses will cause it to report a second quarter loss of 12 to 22 cents a share.  Analysts were looking for a profit of 12 cents.  The company sees revenues of $25-$30 million in the quarter.

ONEIDA LTD (OCQ, 30.88)- The company's board of directors has rejected a takeover bid from Libbey (LBY, 28.75).

PRAEGITZER INDUSTRIES (PGTZ, 5.75)- The circuit board maker warned that lower than expected sales and costs associated with the closing of 2 factories will result in a fourth quarter loss of $0.33-$0.38 a share, compared to current expectations of a $0.09 profit.

RESPIRONICS (RESP, 14.13)- The medical device maker warned that fourth quarter earnings will be below expectation.  The company sees 18 cents a share in the quarter, expectations were for 28 cents.  The company cited lower than expected sales and margin pressures for the disappointing results.  The company also said it will take a restructuring charge of 57 cents.

VANTIVE CORP (VNTV, 12.81)- The software maker warned that it will lose $0.12-$0.14 in its second quarter (including a restructuring charge), expectations were for a 4 cent profit.  The company expects revenues to increase 27% to $47-$49 million in the quarter.

APPLIED MICROSYSTEMS (APMC, 4.13)- The maker of embedded systems warned that it will report a wider than expected second quarter loss of 28 to 33 cents a share, analysts were looking for a loss of 2 cents.  The company blamed a transition to a "new selling model", and weakness in Japan for the disappointing quarter.

ELF AQUITAINE (ELF, 74.31)- Total Fina SA announced a hostile $43 billion takeover bid for the French oil giant.  Elf shareholders would receive 4 shares of Total Fina for each 3 Elf shares held under the terms of the proposed deal.

GENERAL NUTRITION COMPANIES (GNCI, 22.88)- The company has agreed to merge with Royal Numico N.V. in a $2.5 billion deal.  GNCI shareholders will receive $25 a share in the cash deal.  The merger will create the largest company devoted to the manufacturing and retailing of human nutrition products.

HANOVER DIRECT (HNV, 2.63)- The company has retained Bear Stearns to help it find e-commerce partners.

KBK CAPITAL CORP (KBK, 6.25)- The commercial loan provider warned that it will report a "modest" second quarter loss.  Analysts were looking for a profit of 11 cents a share in the quarter. The company blamed costs associated with terminated merger talks for the shortfall.

MECHANICAL TECHNOLOGY (MKTY, 26.25)- The company sees a loss of $3.1 million in Q3.