Earnings Reports & Outlooks

Adelphia Communications

(ADLAC)

will delay filing its annual report as the company's investigation into its accounting practices continues. Investors still sent the stock higher by 4.1% to $7.94.

Cognizant Technology Solutions

(CTSH) - Get Report

said it expects to report second-quarter earnings of 36 cents a share and revenue of at least $49.5 million. The company reported first-quarter earnings of 35 cents and revenue of $46.5 million. Excluding items, the company earned 29 cents, a penny ahead of estimates. Cognizant was gaining 14% to $43.30.

Manpower

(MAN) - Get Report

beat analysts' lowered first-quarter estimates by a penny, but the company's net income dropped 74% from the year-ago quarter. The staffing agency reported net income of $6.9 million, or 9 cents a share, down from $26.8 million, or 35 cents a share, a year ago. Analysts had been expecting 8 cents a share. Manpower was up 2.8% to $40.08.

Maytag

(MYG)

posted a 20% sales increase and earnings that were ahead of analysts' estimates. The appliance manufacturer said its first-quarter sales rose 20% to $1.178 billion from $978.4 million in the year-ago period, due primarily to the acquisition of Amana and strong sales of higher-end appliances. Maytag was dropping 4.4% to $45.50.

Telephone & Data Systems

(TDS) - Get Report

missed analysts' first-quarter estimates by 3 cents a share, but the company saw revenue growth from last year. The company's shares rose 3.3% to $89.46.

Mergers, Acquisitions & Joint Ventures

Aeroflex

(ARXX)

was gaining 15% to $14.88 a day after the company signed a definitive agreement to acquire

IFR Systems

(IFRS)

for $60 million in cash.

Analyst Actions

Alpha Industries

(AHAA)

was up 12.7% to $16.56 after SoundView Technology initiated coverage of the semiconductor maker with a buy rating.

Sungard Data

(SDS) - Get Report

was dropping 8% to $29.24, on what

Briefing.com

reported as cautious comments from analysts at Credit Suisse First Boston.

Briefing

said talk was circulating that CSFB was urging investors to take profits before the company reports earnings later this week.

Miscellaneous News

Bway

, a maker of steel containers, was one of the biggest decliners of the day, dropping 11.8% to $13.67. No news was evident, but the stock was the biggest percentage loser on the

New York Stock Exchange.

Clare Inc.

(CPCL)

, a maker of analog and mixed-signal integrated circuits, unveiled an organic light emitting diode driver IC designed specifically for PDAs. The company also launched a grayscale organic light emitting diode controller for commercial markets. Shares of Clare were up 12.2% to $5.44.