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THIS MORNING'S STOCKS WEEK OF
9/06/99-9/10/99 |
9/10/99 |
| BOSTON
COMMUNICATIONS GROUP (BCGI,
7.63)- The wireless provider warned that it will report a third
quarter loss of 3 to 5 cents a share. Analysts had been looking for
a profit of 6 cents in the quarter. The company blamed the problem
on a temporary software problem at its Teleservices Division, and on
weakness at its Systems Division.
CALIFORNIA AMPLIFIER (CAMP,
19.06)- The maker of microwave systems beat estimates by 4 cents as it
reported earnings of 7 cents a share in its second quarter. Revenues
jumped 123% to $18.58 million in the quarter. The company attributed
the strong quarter to strong sales of DBS satellite products, but said
that shipments of its wireless products continue to be soft.
CUTTER & BUCK (CBUK,
12.31)- The maker of golf apparel beat estimates by a penny in its
fiscal first quarter as it reported earnings of 12 cents a share.
Revenues rose 64% to $29.2 million in the quarter. The company said
its fall 1999 bookings were up 42%. Gross margin rose to 43.8% from
42.9% in the quarter.
DSP COMMUNICATIONS (DSP,
26)- The company is mentioned as a possible acquisition target in the
latest issue of Business Week.
ILLINOIS TOOLWORKS (ITW,
80.13)- The maker of engineered components has agreed to acquire
Premark International (PMI,
34.25) in a $3.4 billion merger that will value each Premark share at
$55, based on yesterday's closing price. The company expects the
deal to be accretive to earnings if its share price remains near current
levels.
INTUIT INC (INTU,
97.06)- The company announced a 3 for 1 stock split. The shares
surged 6.75 in after hours trading on the news.
LABOR READY (LRW,
10.63)- The provider of temporary staffing services warned that second
half revenues and earnings will fall short of current expectations due to
soft August sales. Analysts were looking for the company to earn 33
cents in the third quarter and 87 cents for the full year.
MASTECH CORP (MAST,
16.19)- The InfoTech services provider warned that third quarter
earnings will be $0.18-$0.22, below the current consensus estimate of 26
cents. The company sees third quarter revenues of $116-$120 million,
and blamed the shortfall on market conditions and lower revenue from one
of its major customers.
NATIONAL SEMICONDUCTOR (NSM,
32)- The company's shares are up 3/4 in European trading after it
reported a first quarter operating profit of $1.2 million, excluding a one
time gain (including the gain, the company earned 25 cents a share in the
quarter). Analysts were looking for a loss of 14 cents in the
quarter. Revenues rose 2.6% to $481.8 million in the quarter, and
first quarter bookings rose 12%.
POTASH CORP. OF SASKATCHEWAN (POT,
56.75)- The company is warning this morning that third quarter
earnings will be half of the current consensus estimate of 55 cents a
share.
ST. JUDE MEDICAL (STJ,
37.31)- The cardiac device maker will buy privately held Vascular
Sciences for $100 million. In a separate release, the company
announced a $250 million stock
buyback plan.
US LIQUIDS (USL,
6.43)- The beleaguered liquid waste collector warned that second half
earnings and revenues will be below
expectations. |
9/09/99 |
| COMPUTER
LEARNING CENTERS (CLCX,
4.72)- The operator of computer related education centers reported a
second quarter loss of 8 cents a share. Analysts were looking for a
loss of 3 cents. Revenues fell to $32.85 million from last year's
$35.27 million. Student enrollment fell by 23% from last year's
second quarter, while August enrollments rose 30% from July's levels.
CONSECO INC (CNC,
25)- The insurer and lender said it will change its method of
accounting for revenues. The switch to the portfolio method of
accounting will result in 1999 and 2000 earnings coming in at $2.95, and
$3.00 a share, respectively. Analysts were looking for 1999 earnings
of $3.96 and 2000 earnings of $4.54. The stock fell 1 1/2 in after
hours trading on the news.
DELL COMPUTER (DELL,
47.63)- The PC maker made its first ever acquisition as it bought
privately held data storage company ConvergeNet Technologies for 6.9
million shares in a $340 million deal. Dell will take a charge of
$0.05-$0.07 as a result of the transaction.
DRYPERS CORP (DYPR,
2.31)- The diaper maker will supply Wal-Mart's U.S. stores with
private label Dri Bottoms diapers.
NOVO NORDISK (NVO,
59.13)- The drug maker plans to split the company into two separate
units, with shareholders receiving one share in the diabetes products unit
and one share in the industrial enzymes unit.
PAXSON COMMUNICATIONS (PAX,
16.5)- NBC is reportedly planning to buy 32% of the TV broadcaster,
according to the WSJ.
REXAM PLC (REXMY,
5)- The packaging company's first half profits rose to �86
million from last year's �84 million. Revenues rose to �1.16
billion from �943 million in last year's first half.
SUPERIOR TELECOM (SUT,
25.75)- The wire and cable maker warned that third quarter earnings
will be $0.52-$0.58 per share and full year earnings will come in at
$2.35-$2.51, significantly below current analysts' expectations of 86
cents for the third quarter and $3.00 for the full year. The company
blamed the shortfall on lower than expected shipments of cables and lower
margins on building wire. |
9/08/99 |
| COVANCE
INC (CVD,
15.5)- The drug development services company warned that third quarter
earnings will fall short of analysts' expectations because of lower than
expected revenues in its clinical trials management business and slower
growth in its laboratory services business. The company now sees
third quarter earnings of 21 cents and full year earnings of $0.91-$0.93 a
share, compared to estimates of 26 cents in the third quarter and
$1.00 for the full year.
FIRST AVIATION SERVICES (FAVS,
5.88)- The company's second quarter earnings rose 100% to 16 cents a
share and revenues rose 31.5% to $48.9 million.
IMRGLOBAL CORP (IMRS,
16.43)- The information technology services provider warned that third
quarter earnings will be $0.12-$0.16 a share, below the current consensus
estimate of 21 cents. The company blamed lower than expected
revenues due to delays in program startups and a longer sales cycle for
the shortfall.
INGRAM MICRO (IM,
19.31)- The computer wholesaler warned that price competition and
gross margin pressures in its U.S. business will result in third quarter
earnings of $0.14-$0.21, significantly below current expectations of a 41
cent profit.
JLG INDUSTRIES (JLG,
17.5)- The industrial equipment manufacturer met expectations of a 49
cent profit in its fourth quarter. Revenues rose 45% to $256.6
million in the quarter.
LYCOS INC (LCOS,
43.63)- The Internet portal has agreed to acquire privately held
financial web site Quote.com for $78.3 million.
VF CORP (VFC,
35)- The jeans maker warned that third quarter earnings will fail to
meet analysts' expectations of a $1.01 per share profit. The company
sees earnings of $0.84-$0.90, 10%-15% below last year's 98
cents. The company blamed the shortfall on slower than expected
traffic at "mid-tier department stores". |
9/07/99 |
| ACORN
PRODUCTS (ACRN,
3.75)- The maker of non-powered lawn tools warned that problems in its
distribution systems will result in a full year loss of ($1.50)-($2.00),
compared to analysts' expectations of a full year profit of 34 cents.
AMDOCS LTD (DOX,
27.5)- The company has offered to buy Int'l Telecommunication Data
Systems (ITDS,
8.13) for $182 million.
BRITISH BIOTECH (BBIOY,
4.78)- Schering-Plough has agreed to partner with the biotech on the
development of BBIOY's marimastat cancer drug.
CHAMPION INDUSTRIES (CHMP,
5.94)- The commercial printer and business forms maker said third
quarter earnings fell to 3 cents a share from last year's 11 cents.
The company blamed its earnings decline on "sluggish sales" and
investments in technology and employees. Revenues fell 2% to $30
million in the quarter. The company also said it is revising its
fourth quarter earnings estimate to 10 cents a share.
ELECTRICIDADE DE PORTUGAL (EDP,
33)- The utility's first half operating profit fell to 98.75 billion
escudos from last year's 109.75 billion escudos. Revenues rose to
307 billion escudos from 297.5 billion escudos.
FSI INTERNATIONAL (FSII,
7.25)- The electronics maker warned that it expects fourth quarter
revenues of $32 million, compared to current analyst expectations of $38
million.
INSIGHT COMMUNICATIONS (ICCI,
27.38)- The cable TV operator said second quarter revenues rose to
$46.41 million from the prior year's $25.16 million. The company
reported a loss of $1.07 a share, compared to last year's profit of 7
cents.
MITCHAM INDUSTRIES (MIND,
4.71)- The maker of seismic equipment reported a wider than expected
second quarter loss of 22 cents a share, compared to estimates of a loss
of 17 cents. Revenue declined precipitously to $625,000 from the
prior year's $7.7 million.
NATIONAL WESTMINSTER BANK (NW,
112)- Life insurer Legal & General Group Plc has agreed to be
acquired by NatWest for 210 pence per share in a $17.2 billion stock and
cash deal.
NAVIGATORS GROUP (NAVG,
13.88)- The insurer warned that it will take a third quarter charge of
$0.45-$0.50 to cover the write-off of reinsurance recoverables.
SDL INC (SDLI,
88.25)- The company has filed to sell 2.95 million shares. |
9/06/99 |
| U.S.
MARKET HOLIDAY |
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