Updates, advisories and surprises

Semtech slides on Q3 rev. miss, Q4 outlook (8:35 AM ET) Shares of Semtech(SMTC: news, chart, profile)are sliding $2.61, or 14 percent, to $15.50 after the chipmaker reported fiscal third quarter earnings that topped expectations despite a shortfall in revenue due to a higher-than-anticipated gains from the repurchase of debt, and warned that its fourth quarter would miss expectations. Net income for the October quarter was $13 million, or 7 cents a share, up from 12 cents a share in the year-earlier period. Revenue rose 8 percent to $47.2 million. Analysts surveyed by Thomson First Call had been expecting earnings of 14 cents a share and revenue of $51.4 million. For the fourth quarter, the company expects earnings of 9 to 11 cents a share on revenue of $43 million to $45 million, below expectations of 14 cents and $53.4 million, respectively.

Vivendi Q3 operating profit below estimates (8:21 AM ET) French-U.S. media group(V: news, chart, profile)on Tuesday posted operating profit, or EBIT, of 1.205 billion euro in the third quarter, according to AFX and Reuters news wires. The figure missed some analyst expectations for EBIT in the quarter of around 1.4 billion euro, up from 1.396 billion euro in the second quarter. Vivendi posted a net loss amid charges. Shares in Paris(fr:FR:012777: news, chart, profile)were down 0.7 percent at 14.70 euro.

Blue Rino beats earnings target, raises target (8:00 AM ET) Winston-Salem, N.C. propane retailer Blue Rino(RINO: news, chart, profile)reported first-quarter net income of $1.2 million, or 7 cents per share, up from $107,000, or a penny per share, last year. The company beat the forecast of 4 cents per share in a survey of analysts by Thomson First Call. Revenue rose to $54.8 million, up from $36.5 million. Blue Rhino expects second-quarter revenue of $40-$50 million, break-even earnings and EBITDA of $3.4-to $3.6 million. For fiscal 2003, Blue Rino is raising guidance to "reflect continued strong cylinder exchange results." The company now Blue Rhino now sees revenue of $250-$255 million and EPS of 91- to 94 cents, vs. the current expectation of 87 cents. Shares of Blue Rino fell 16 cents to $16.64 on Monday.

S&K Brands swings to a loss (7:52 AM ET) Richmond, Va. men's clothing retailer S&K Brands(SKFB: news, chart, profile)reported a third-quarter net loss of $202,000, or 8 cents per share, compared to net income of $49,000, or a penny per share, in the year-ago period. Total sales were $36.1 million, up from $35.4 million. Same-store sales increased 2 percent. The company is not tracked by analysts surveyed by Thomson First Call. Shares rose 9 cents to $12.63 on Monday.

Dick's Sporting Goods posts earnings after IPO (7:43 AM ET) Dick's Sporting Goods(DKS: news, chart, profile)reported third-quarter GAAP net income of $2.8 million, or 14 cents per share, compared to $1.6 million, or 8 cents per share, in the year-ago period. The Pittsburgh-based retailer said its pro forma net income was $2.9 million, or 13 cents per share. The company is not yet tracked by Thomson First Call because it just recently went public on Oct. 16 at $12 per share. Same-store sales rose 5.1 percent and sales grew to $290.6 million, from $246.5 million. The company said it expects a comparable store sales to increase of approximately 2 percent in the fourth quarter and pro forma earnings of 63- to 64 cents per share. CSFB analyst Gary Balter recently initiated coverage of Dick's Sporting Goods with an "outperform" rating and 12 month price target of $25. The company's shares rose 95 cents to $20.85 on Monday.

Comarco grows Q3 net income (7:22 AM ET) Comarco(CMRO: news, chart, profile)posted third-quarter net income of $1.5 million, or 21 cents per share, compared to $1 million, or 14 cents per share in the year-ago period. Wall Street had been expecting the Irvine, Calif. maker of wireless testing software to report earnings of 13 cents per share, according to a survey of two analysts by Thomson First Call. Revenue for the third quarter of fiscal 2003 was $13 million, up from $12.3 million. Shares rose 40 cents to $7.93 on Monday.

UnitedHealth expects to top current 2003 forecasts (6:40 AM ET) UnitedHealth(UNH: news, chart, profile)provided a 2003 earning and revenue outlook that was above current Wall Street expectations as it anticipates adding at least 1.3 million new consumers to their health benefit offerings and margins to increase. The company now expects earnings of "at least" $5.05 a share and revenue of $29 billion, versus the average analyst estimate compiled by Thomson First Call of $5.04 and $27.9 billion, respectively. The health care services company expects margins to expand to 8.9 percent from 8.7 percent. The stock closed Monday down $8.17, or 9.7 percent, at $76.45 amid a downgrade by SG Cowen.

German Nov. Ifo index is down for sixth month (4:50 AM ET) German business confidence dropped in November from October, but the decline was better than the market had been forecasting. The IFO index of West German business climate index dropped to 87.3 in November from 87.7 in October. Economists had been anticipating an 87 reading. Germany's IFO has closely tracked GDP. The survey confirmed the subdued prospects for growth in Germany this year -- the November survey marked the sixth month of a decline in the reading. The German DAX was up 0.2 percent after the report, but off its morning high. Stocks elsewhere in Europe were flat-to-lower