Mixed Opening
Stocks appear set to open mixed to
lower Wednesday.
According to a report in the Wall
Street Journal, Worldcom Inc
(
WCOM |
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PowerRating) plans to cut up to 10% of its staff,
based on people close to the telecom giant.
i2 Technologies
(
ITWO |
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PowerRating) issued
guidance for Q1 which was well below analysts’ consensus. The firm sees revenues
coming in between $165 to $170 million compared with consensus numbers of $186.9
million.
AMR Corp
(
AMR |
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PowerRating) announced that
Gerard J. Arpey was appointed to the position of President and Chief
Operating Officer.
Myriad Genetics
(
MYGN |
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PowerRating) and
Du Pont
(
DD |
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PowerRating) have entered into a $24 million collaboration for genetic research.
Japanese company Fujitsu has selected
ATI Technology’s
(
ATYT |
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PowerRating) Mobility Radeon 7500 graphics processor for their
Lifebook C series notebook.
Retailer Cherokee Inc
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CHKE |
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PowerRating)
reported Q4 net earnings of 28 cents a share compared to 25 cents a share for
the same quarter a year ago.
Critical Path
(
CPTH |
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PowerRating) said that
all shareholder lawsuits which were filed against the company in February and
March have been voluntarily withdrawn by the respective parties.
UTI Worldwide
(
UTIW |
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PowerRating) reported Q4
net earnings of 15 cents a share compared to 26 cents for the same quarter a
year ago. The 26 cents included a gain of $1.9 million, or 8 cents, from special
items in the ’01 quarter.
Webmethods
(
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PowerRating) announced that
it expects its Q4 loss to be narrower than expected. According to a survey taken
by Thomson Financial/First Call, consensus is for a loss of 5 cents.
VidaMed
(
VIDA |
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PowerRating) said it expects
revenues to come in around $5.1 million for Q1 vs. $2.3 million for the same
quarter a year ago based on the sales of the company’s transurethral needle
ablation (TUNA).
Ernst & Young and Anderson
announced that the two would combine their Singapore operations.
Chell Group
(
CHEL |
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PowerRating) has signed a
letter of intent to acquire Emtec Inc
(
ETEC |
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PowerRating) in a cash-and-stock
deal. Terms of the deal have not been disclosed. CHEL is a holding company for
NTN Interactive Networks. The company is in the Leisure sector.