Altera (ALTR: news, chart, profile) will give a financial update Wednesday. For its fourth quarter, analysts are expecting earnings of 3 cents per share on revenue of roughly $164.5 million.
FRONT PAGE NEWS
Will consumers show early holiday cheer?
Small-cap tech stocks -- the phoenix of 2001?
U.S. stocks get third straight week of gains
Telecheck indicator finds Friday sales up 2.4%
Enron, Altera, R.J. Reynolds and more
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Brocade and ADC Telecommunications will detail fourth-quarter results Wednesday. For its final quarter of its fiscal year, Brocade (BRCD: news, chart, profile) is pegged to earn 4 cents per share on revenue of $110.9 million. Networking products maker ADC Telecom (ADCT: news, chart, profile) is expected to report a loss of 7 cents per share on revenue of $411.7 million.
The U.S. beverage company Constellation Brands (STZB: news, chart, profile) has emerged as the highest bidder for Britain's leading lager Carling, according to reports. The owner of Matthew Clark, the drinks distributor which owns brands like Diamond White and Babycham in the UK, has offered £1.35bn to make it the leading bidder in the auction for Interbrew-owned Carling, the Sunday Telegraph reported. The bid beats offers from more high profile contenders Heineken and Coor's (RKY: news, chart, profile) of the U.S. and sets Constellation against three private equity groups in the closing stages of the auction, the report said.
Enron (ENE: news, chart, profile) was again the most actively traded U.S. stock Friday in a week that's seen the company's shares fall to a 10-year low. This week, Enron and its takeover partner Dynegy reiterated their commitment to a merger, and Enron said it had been granted an extension to pay off a $690 million debt that was due next week. See full story.
Flextronics (FLEX: news, chart, profile) will provide its midquarter update after the closing bell Tuesday. For its third quarter, analysts currently expect Flextronics to earn 17 cents per share on revenue of $3.4 billion, according to Thomson Financial/First Call.
Kmart (KM: news, chart, profile) will report its third-quarter results Tuesday. Analysts are expecting the discount retailer to earns 27 cents a share, according to Thomson Financial/First Call.
Novellus (NVLS: news, chart, profile) will discuss how its fourth-quarter is progressing Thursday. For that quarter, analysts are looking for earnings of 10 cents per share on revenue of $205.6 million.
R.J. Reynolds Tobacco Holdings Inc. (RJR: news, chart, profile) has launched a $320 million cash bid for Santa Fe Natural Tobacco Co., the maker of American Spirit cigarettes, the Associated Press is reporting. RJR wants to gain share in the premium tobacco market.
Venezuela's leading telecommunications company, CANTV (VNT: news, chart, profile), said Friday it had received offers for 39.7 percent of its shares at the close of an offer to buy back 15 percent of its stock, Reuters reported. The company, controlled by Verizon Communications (VZ: news, chart, profile), said a total of 367.5 million shares had been tendered. CANTV had offered to acquire 138.9 million shares as part of an offer initially geared toward fending off a hostile takeover from U.S. company AES Corp (AES: news, chart, profile).
Barron's columnist Alan Abelson noted the disparity between earnings and stock price as he cited Grey Global Group (GREY: news, chart, profile), which he called the "classiest outfit in the business." The advertising and marketing concern closed just over $600 a share Friday even as its earnings have slumped to $3.50 a share through nine months from $12.97 a year ago.
Troubles at American Golf are weighing on National Golf, Barron's reported. Though third-quarter earnings at National Golf (TEE: news, chart, profile) were strong, the privately held operator of most of its courses -- American Golf -- is weighing on the stock price of National because of a sharp decline in same-course revenue.
In an interview with Barron's, Steve Milunovich of Merrill Lynch said that Cisco (CSCO: news, chart, profile) should be the prime beneficiary of a surge in interest in voice-over Internet Protocol. Why? Cisco, formidable in its size, needs to find new markets to enter, and voice over IP could be the ticket for them. In the same interview, Milunovich touted Internet Security Systems (ISSX: news, chart, profile) and Check Point Software (CHKP: news, chart, profile) among the computer security stocks, and storage company EMC (EMC: news, chart, profile) for its data-mirroring software. In addition, he sees Cisco, Extreme Networks (EXTR: news, chart, profile) and Riverstone (RSTN: news, chart, profile) capitalizing on the growing importance of Ethernet and take business from Nortel (NT: news, chart, profile), Lucent (LU: news, chart, profile) and Alcatel (ALA: news, chart, profile). For defensive plays, Milunovich touted computer services firms like Electronic Data Systems (EDS: news, chart, profile), First Data (FDC: news, chart, profile) and Affiliated Computer Services (ACS: news, chart, profile). And while he called most semiconductor stocks "too expensive," Milunovich said he liked Maxim (MXIM: news, chart, profile) and Analog Devices (ADI: news, chart, profile), both analog companies.
FRONT PAGE NEWS
Will consumers show early holiday cheer?
Small-cap tech stocks -- the phoenix of 2001?
U.S. stocks get third straight week of gains
Telecheck indicator finds Friday sales up 2.4%
Enron, Altera, R.J. Reynolds and more
Sign up to receive FREE e-newsletters:
Get the latest news
24 hours a day from our 100-person news team.
Brocade and ADC Telecommunications will detail fourth-quarter results Wednesday. For its final quarter of its fiscal year, Brocade (BRCD: news, chart, profile) is pegged to earn 4 cents per share on revenue of $110.9 million. Networking products maker ADC Telecom (ADCT: news, chart, profile) is expected to report a loss of 7 cents per share on revenue of $411.7 million.
The U.S. beverage company Constellation Brands (STZB: news, chart, profile) has emerged as the highest bidder for Britain's leading lager Carling, according to reports. The owner of Matthew Clark, the drinks distributor which owns brands like Diamond White and Babycham in the UK, has offered £1.35bn to make it the leading bidder in the auction for Interbrew-owned Carling, the Sunday Telegraph reported. The bid beats offers from more high profile contenders Heineken and Coor's (RKY: news, chart, profile) of the U.S. and sets Constellation against three private equity groups in the closing stages of the auction, the report said.
Enron (ENE: news, chart, profile) was again the most actively traded U.S. stock Friday in a week that's seen the company's shares fall to a 10-year low. This week, Enron and its takeover partner Dynegy reiterated their commitment to a merger, and Enron said it had been granted an extension to pay off a $690 million debt that was due next week. See full story.
Flextronics (FLEX: news, chart, profile) will provide its midquarter update after the closing bell Tuesday. For its third quarter, analysts currently expect Flextronics to earn 17 cents per share on revenue of $3.4 billion, according to Thomson Financial/First Call.
Kmart (KM: news, chart, profile) will report its third-quarter results Tuesday. Analysts are expecting the discount retailer to earns 27 cents a share, according to Thomson Financial/First Call.
Novellus (NVLS: news, chart, profile) will discuss how its fourth-quarter is progressing Thursday. For that quarter, analysts are looking for earnings of 10 cents per share on revenue of $205.6 million.
R.J. Reynolds Tobacco Holdings Inc. (RJR: news, chart, profile) has launched a $320 million cash bid for Santa Fe Natural Tobacco Co., the maker of American Spirit cigarettes, the Associated Press is reporting. RJR wants to gain share in the premium tobacco market.
Venezuela's leading telecommunications company, CANTV (VNT: news, chart, profile), said Friday it had received offers for 39.7 percent of its shares at the close of an offer to buy back 15 percent of its stock, Reuters reported. The company, controlled by Verizon Communications (VZ: news, chart, profile), said a total of 367.5 million shares had been tendered. CANTV had offered to acquire 138.9 million shares as part of an offer initially geared toward fending off a hostile takeover from U.S. company AES Corp (AES: news, chart, profile).
Barron's columnist Alan Abelson noted the disparity between earnings and stock price as he cited Grey Global Group (GREY: news, chart, profile), which he called the "classiest outfit in the business." The advertising and marketing concern closed just over $600 a share Friday even as its earnings have slumped to $3.50 a share through nine months from $12.97 a year ago.
Troubles at American Golf are weighing on National Golf, Barron's reported. Though third-quarter earnings at National Golf (TEE: news, chart, profile) were strong, the privately held operator of most of its courses -- American Golf -- is weighing on the stock price of National because of a sharp decline in same-course revenue.
In an interview with Barron's, Steve Milunovich of Merrill Lynch said that Cisco (CSCO: news, chart, profile) should be the prime beneficiary of a surge in interest in voice-over Internet Protocol. Why? Cisco, formidable in its size, needs to find new markets to enter, and voice over IP could be the ticket for them. In the same interview, Milunovich touted Internet Security Systems (ISSX: news, chart, profile) and Check Point Software (CHKP: news, chart, profile) among the computer security stocks, and storage company EMC (EMC: news, chart, profile) for its data-mirroring software. In addition, he sees Cisco, Extreme Networks (EXTR: news, chart, profile) and Riverstone (RSTN: news, chart, profile) capitalizing on the growing importance of Ethernet and take business from Nortel (NT: news, chart, profile), Lucent (LU: news, chart, profile) and Alcatel (ALA: news, chart, profile). For defensive plays, Milunovich touted computer services firms like Electronic Data Systems (EDS: news, chart, profile), First Data (FDC: news, chart, profile) and Affiliated Computer Services (ACS: news, chart, profile). And while he called most semiconductor stocks "too expensive," Milunovich said he liked Maxim (MXIM: news, chart, profile) and Analog Devices (ADI: news, chart, profile), both analog companies.
