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

 SEC FILINGS

COTELLIGENT (CGZ, 8.5)- The info tech consulting company said it expects first quarter revenues to rise to $88 million from last year's $54.3 million, but warned that it expects to report a loss of $13-$15 million in the quarter.  The company blamed a Y2K related slowdown in demand for its services for the expected loss, and said the slowdown is "most pronounced in the financial services sector".

FRONTIER CORP (FRO, 57.75)- The company said it still plans to proceed with its merger with Global Crossing despite the higher bid made by Qwest.  The telecom operator said it will take no action on the Qwest bid at this time.

GILLETTE (G, 47.31)- The razor blade maker warned that its second quarter earnings and revenues will be below current analysts estimates.  The company said it expects revenues to rise at a low single digit pace in the quarter and earnings to be 20% below last year's second quarter figures of 33 cents.  Analysts were looking for 29 cents, the new projections are for $0.26-$0.27 a share.  The company cited lower than expected sales of Braun products, and weakness in Brazil, Germany, Japan, and Russia for the lower than expected results.  The shares are down 3 points in European trading.

MSC INDUSTRIAL DIRECT (MSC, 16.38)- The supplier of metalworking supplies said its sales growth rate declined in May and warned that it expected third quarter earnings to be 18 cents a share, compared to current estimates of 25 cents.

SUNRISE MEDICAL (SMD, 6.68)- The medical products maker warned that its fourth quarter earnings will "fall substantially below" current estimates of 12 cents a share.  The company now expects its earnings to be near breakeven in the quarter before charges.  The company blamed the shortfall on price reductions and lower margins at its U.S. Home Healthcare Group.

VALLEY MEDIA (VMIX, 21.75)- The company warned that it will lose 8 to 10 cents a share in its first quarter, compared to analysts estimates of a 2 cent profit.  The music distributor blamed "unexpected expenses " associated with a move to a larger warehouse.

CHERRY CORP (CHERA, 14)- The company reported first quarter earnings of 35 cents a share, compared to last year's 51 cents.  Cherry attributed the lower earnings to flat sales of its semiconductor products in the quarter.

COASTAL DENTAL SERVICES (CDEN, 6.06)- The dental center operator said its second quarter revenues would be substantially above current analysts expectations, but warned that it expected earnings to be just 7 to 9 cents a share in the quarter, compared to current estimates of 16 cents.  The company blamed the shortfall on higher than expected costs associated with converting its system wide software to the Windows operating system.

GAYLORD ENTERTAINMENT (GET, 30.5)- The diversified entertainment company warned that second quarter will be below current expectations.  The company expects earnings to be 0 to 2 cents a share, analysts were looking for 14 cents a share.  GET blamed the reduced quarterly expectations on a delay in product releases at its Word Entertainment division, lower sales at its Unison label, a drop in average room rates at its Opryland Hotel, and lower than expected food and beverage sales at the hotel.

TELXON CORP (TLXN, 8.56)- The wireless maker said the filing of its fourth quarter results will be delayed, and warned that it expects to report a loss in the "mid $70 million range".  The company also said its second quarter earnings will be restated to a loss of 34 cents a share from the previous 25 cent loss, and second quarter revenues will be restated to $104 million from the previous $111 million.  The shares are down from a 52 week high of 32 7/8 and could come under further pressure in today's trading.

FLORIDA PROGRESS CORP (FPC, 41.13)- The utility will join the S&P 500 after next Monday's close.

HARMON INDUSTRIES (HRMN, 20)- The company warned that project delays caused by a subcontractor will cause its second quarter earnings to come in below expectations.  Harmon sees 10 cents a share in the quarter, analysts were looking for 37 cents.  The company expects full year earnings to be flat with last year's $1.25, compared to current analysts estimates of $1.50.

H & R BLOCK (HRB, 50.13)- The tax preparer beat fourth quarter estimates by 20 cents, earning $3.03 in the quarter.   Revenues rose to $1.2 billion in the quarter from last year's $968 million.

JABIL CIRCUIT (JBL, 41.5)- The company met third quarter expectations as net income rose 41% to 29 cents a share and revenues rose 69% to $522.5 million in the quarter.  The circuit board maker warned that new product design delays will cause fourth quarter revenues and earnings to be as much as 10% below current expectations.  The shares tumbled 12 points in after hours trading on the weaker than expected fourth quarter outlook.

ORACLE CORP (ORCL, 25.13)- The database maker beat fourth quarter estimates by 4 cents, earning 36 cents a share in the quarter, a 31% increase from the prior year's quarter.  Revenue rose 22% to $2.9 billion in the quarter.  The company said software license revenues rose 22%, and database sales jumped 25%.  The shares jumped 2 1/4 in after hours trading, and are leading a rally in the NASDAQ futures, which are up 12 points.

PHYCOR (PHYC, 6.25)- The troubled health care company said Warburg, Pincus will invest $200 million in the company. Phycor plans to use $30 million of the proceeds to repurchase its shares or convertible bonds, with the rest of the proceeds used to pay down debt .

AVISTA CORP (AVA, 17.5)- The utility operator warned that "continued soft national energy markets" and severe weather in the Northwestern US will cause its second quarter earnings to come in below current analysts' estimates of a 33 cent a share profit.

HEALTHSOUTH (HRC, 14.19)- The company's board has approved a plan to split the healthcare services company's Inpatient and Outpatient operations into two separate companies.  Under the plan, the inpatient operations would be spun off to shareholders, with shareholders receiving 1 share of the new company Healthsouth Hospitals for each share of healthsouth held.  Healthsouth would retain the outpatient operations.

INTEGRATED SYSTEMS (INTS, 13.25)- The maker of embedded systems software missed first quarter estimates, earning 1 cent a share compared to expectations of a 10 cent profit.

MAXTOR CORP (MXTR, 5.19)- The disk drive maker warned that "aggressive pricing" in the hard drive market will cause its second quarter results to fall far short of current estimates of a 1 cent a share profit.   The company now expects to lose $23-$33 million in the quarter.

EBAY (EBAY, 165.88)- The online auction house warned that its second quarter revenues will be lowered by $3-$5 million as a result of its 22 hour site crash (The company had $34 million in revenues during its first quarter).

EXIDE CORP (EX, 14.56)- The battery maker lost $3.76 a share (including charges) in its fourth quarter.  Fourth quarter operating margins improved to 4.1% from 1.1% in the prior year's quarter.  Revenues in the quarter inched up to $550.1 million from $538.7 million.

ILLINOVA (ILN, 25.31)- The utility is reportedly close to a $2 billion merger with Dynergy, according to the Wall Street Journal.

OMNICOM GROUP (OMC, 67.88)- The ad agency received an unfavorable mention in this week's Barron's.

PFIZER (PFE, 97.5)- The shares will remain under pressure today on the news that the European Commission is considering suspending the license for the drug maker's controversial drug Trovan.

QWEST COMMUNICATIONS (QWST, 44.88)- The telecom company has made a $55 billion bid to acquire US West and Frontier Corp.  The bid tops an offer that Global Crossing has made to acquire both companies by 22.5%.   Under terms of the proposed hookup, US West shareholders will receive up to $80 a share and Frontier shareholders will receive up to $75 a share. US West shares are up $24 in European trading, Frontier is up $11, and Qwest is up 3/4 on the news.

SUPERIOR SERVICES (SUPR, 23.75)- The environmental services company has agreed to be acquired by Vivendi for $27 a share in a $1 billion deal.

SUPERTEL HOSPITALITY (SPPR, 9.5)- The company has agreed to be acquired by Humphrey Hospitality Trust (HUMP, 8.38). Supertel shareholders will receive 1.3 shares of HUMP for each share owned (about $11.00 a share).