Ralph
31.01.2001, 07:06
=========================================================
Market Preview For Wednesday
=========================================================
Amazon.com [AMZN] after Tuesday's close posted a fourth-quarter loss of $0.25 a share, beating Wall Street estimates by a penny. The company also said it would cut 15% of its work force and take a restructuring charge of
more than $150 million. Amazon, though, restated its goal of profitability for the fourth quarter of 2001. Its shares moved lower in after-hours trading.
Applied Materials [AMAT] late Tuesday warned its first-quarter results would be below analysts' forecasts, due to slower chip sales.
Shares of Adobe Systems [ADBE] fell about 16% in Tuesday's after-hours session following the company's warning that revenues could be hurt by U.S. economic weakness this quarter.
After Tuesday's close, New Focus [NUFO] reported a pro forma net profit of $0.04 a share. Analysts polled by First Call expected an operating loss of $0.03 a share. The company also raised its forecast for revenues in the
coming year by 60% because of strong demand for its optical networking products. New Focus shares gained 10% in after-hours trading.
Advanced Fibre Communications [AFCI] late Tuesday said its fourth-quarter earnings topped Wall Street expectations, but it expects to earn 65-70 cents a share this year, short of analysts' expectations.
AOL Time Warner [AOL], Alcoa [AA], and Apple [AAPL] hold analyst meetings on Wednesday.
<u>Word On The Street</u>
"The Fed is caught in a classic Catch-22 position, because if they create too much enthusiasm, it could rekindle that kind of speculative craze we had with day-traders and the bubble we had," says Ned Riley of State Street
Global Advisors.
=========================================================
Expected Initial Public Offerings
=========================================================
EXACT Sciences [EXAS] $14-$16
Xenogen [XGEN] $10-$12
EXACT Sciences [EXAS] is focused on developing innovative methods for non-invasive detection of early stage colorectal cancer.
Xenogen [XGEN] designs systems to improve the efficiency of drug discovery and development.
=========================================================
Selected Expected Earnings Releases
(Consensus Estimates vs. Last Year, Provided By First Call/Thomson Financial)
=========================================================
AOL Time Warner [AOL] Q2 $0.15 vs. $0.09
Barrick Gold [ABX] Q4 $0.25 vs. $0.20
Clorox [CLX] Q2 $0.30 vs. $0.33
Linens 'n Things [LIN] Q4 $0.86 vs. $0.70
New York Times [NYT] Q4 $0.66 vs. $0.61
Winn-Dixie Stores [WIN] Q2 $0.22 vs. $0.15
=========================================================
Projected Economic Releases
(Consensus Forecasts vs. Previous Report)
=========================================================
Real GDP (Advanced) Q4 2.3% vs. 2.2%
GDP Deflator Q4 2% vs. 1.6%
FOMC Rate Decision 5.5% vs. 6%
Ralph
Market Preview For Wednesday
=========================================================
Amazon.com [AMZN] after Tuesday's close posted a fourth-quarter loss of $0.25 a share, beating Wall Street estimates by a penny. The company also said it would cut 15% of its work force and take a restructuring charge of
more than $150 million. Amazon, though, restated its goal of profitability for the fourth quarter of 2001. Its shares moved lower in after-hours trading.
Applied Materials [AMAT] late Tuesday warned its first-quarter results would be below analysts' forecasts, due to slower chip sales.
Shares of Adobe Systems [ADBE] fell about 16% in Tuesday's after-hours session following the company's warning that revenues could be hurt by U.S. economic weakness this quarter.
After Tuesday's close, New Focus [NUFO] reported a pro forma net profit of $0.04 a share. Analysts polled by First Call expected an operating loss of $0.03 a share. The company also raised its forecast for revenues in the
coming year by 60% because of strong demand for its optical networking products. New Focus shares gained 10% in after-hours trading.
Advanced Fibre Communications [AFCI] late Tuesday said its fourth-quarter earnings topped Wall Street expectations, but it expects to earn 65-70 cents a share this year, short of analysts' expectations.
AOL Time Warner [AOL], Alcoa [AA], and Apple [AAPL] hold analyst meetings on Wednesday.
<u>Word On The Street</u>
"The Fed is caught in a classic Catch-22 position, because if they create too much enthusiasm, it could rekindle that kind of speculative craze we had with day-traders and the bubble we had," says Ned Riley of State Street
Global Advisors.
=========================================================
Expected Initial Public Offerings
=========================================================
EXACT Sciences [EXAS] $14-$16
Xenogen [XGEN] $10-$12
EXACT Sciences [EXAS] is focused on developing innovative methods for non-invasive detection of early stage colorectal cancer.
Xenogen [XGEN] designs systems to improve the efficiency of drug discovery and development.
=========================================================
Selected Expected Earnings Releases
(Consensus Estimates vs. Last Year, Provided By First Call/Thomson Financial)
=========================================================
AOL Time Warner [AOL] Q2 $0.15 vs. $0.09
Barrick Gold [ABX] Q4 $0.25 vs. $0.20
Clorox [CLX] Q2 $0.30 vs. $0.33
Linens 'n Things [LIN] Q4 $0.86 vs. $0.70
New York Times [NYT] Q4 $0.66 vs. $0.61
Winn-Dixie Stores [WIN] Q2 $0.22 vs. $0.15
=========================================================
Projected Economic Releases
(Consensus Forecasts vs. Previous Report)
=========================================================
Real GDP (Advanced) Q4 2.3% vs. 2.2%
GDP Deflator Q4 2% vs. 1.6%
FOMC Rate Decision 5.5% vs. 6%
Ralph