Analyst Actions: priceline.com, Oracle, Screaming Media, Sharper Image
The wolves are out and they're gnawing at priceline.com (PCLN) , slumped like a wounded animal in the middle of the road.
Goldman Sachs
downgraded priceline.com to market perform from market outperform this morning after the company reported a $2 million loss and a loss of 1 cent a share for the third quarter. The company's chief financial officer, Heidi Miller, announced her departure yesterday, and the company is laying off 16% of its workforce.
Merrill Lynch
cut its long-term rating to accumulate from buy.
Credit Suisse First Boston
cut priceline earnings estimates to a three-cent loss from a one-cent profit for the fourth quarter, and cut its 2001 estimate to 3 cents a share from 15 cents.
U.S. Bancorp Piper Jaffray
lowered its price target to $8 from $12, and increased its loss-per-share estimate to 12 cents from 6 cents for 2000, and lowered 2001 estimates to earnings of 10 cents a share from 17 cents a share.
PaineWebber
increased loss estimates for 2000 to 18 cents from 6 cents and lowered its 2001 earnings estimate to a 6 cent loss from earnings of 22 cents.
Robertson Stephens
increased 2000 loss estimates to 19 cents a share from 7 cents and 2001 estimates to a 7 cent loss from 15 cents in the black.
Oracle
(ORCL) - Get Oracle Corporation Report
, which has been bouncing around on speculation and rumor in the last couple of days, received a boost from
TheStreet Recommends
Lehman Brothers
this morning, which reiterated its buy rating on the software giant and said "resulting weakness in the stock" is a buying opportunity.
Upgrades
Screaming Media
(SCRM)
: UP to strong buy at Credit Suisse First Boston; price target lowered to $23 from $30.
BJ Services
(BJS)
: fiscal 2001 earnings estimates UP to $2.55 from $2.45 at
Merrill Lynch
. Goldman Sachs hiked fiscal 2001 estimates to $2.70 from $2.50 and 2002 estimates to $3.40 from $3.
Sabre Holdings
(TSG) - Get Stars Group Inc Report
: price target UP to $47 from $38 at Merrill Lynch.
Martha Stewart Living
(MSO)
: 2000 EPS estimate UP to 42 cents from 33 cents; 2001 EPS estimate to 55 cents from 47 cents at Credit Suisse First Boston.
Alliant Techsystems
(ATK)
: price target UP to $105 from $93 at CSFB.
MBIA
: price target UP to $77 from $66 at CSFB.
Concord EFS
(CEFT)
: price target UP to $60 from $50 at Lehman Brothers.
John Hancock
(JHF)
: price target UP to $36 from $27 at Credit Suisse First Boston.
Downgrades
Sharper Image
(SHRP)
: DOWN to buy from strong buy at
W.R. Hambrecht
.
Alcoa
(AA) - Get Alcoa Corporation Report
: 2000 earnings-per-share estimate DOWN to $1.82 from $1.87 and 2001 estimate down to $2.35 from $2.60 at Lehman Brothers. The brokerage also cut its price target on Alcoa to $45 from $50, citing high energy costs and sluggish commodity pricing.
Computer Sciences
(CSC)
: 2000 earnings estimates DOWN to $2.90 from $2.95 at Lehman Brothers.
United Rentals
(URI) - Get United Rentals Inc. Report
: DOWN to buy from strong buy at
Legg Mason
.
Initiations
Diamond Technology Partners
(DTPI)
: NEW buy at
Jefferies
.
Cisco Systems
(CSCO) - Get Cisco Systems Inc. Report
: NEW strong buy at CSFB; price target: $85.
