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Stocks to Watch Monday: General Electric, Nokia, Agilent, Intuit

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Updated from Nov. 24, 5:43 p.m.


General Electric

(GE) - Get General Electric Company Report

named Jeffrey Immelt to

succeed Chairman and Chief Executive Officer Jack Welch, when Welch steps aside at the end of 2001.

Immelt, an 18-year GE veteran, was immediately installed as president and chairman-elect of the Fairfield, Conn.-based conglomerate. Immelt, 44, was most recently president and CEO of

GE Medical Systems

, a $7 billion unit of GE that is a leader in medical diagnostic technology and information systems.

Mergers, acquisitions and joint ventures


(A) - Get Agilent Technologies Inc. Report

agreed to buy

Objective Systems Integrators


in a cash tender offer of $17.75 a share, or $665 million.

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TheStreet Recommends

Objective Systems makes software that manages communications networks for voice and e-services. "OSI is a great fit with Agilent's strategy and clearly positions us as the leading provider of OSS

operations support system solutions for current and next-generation communications service providers,'' Ned Barnholt, president and CEO of Agilent, said in a statement.

Agilent says the deal, which is expected to close within about six weeks, will cut its earnings per share for 2001 by approximately 2 cents, while adding about one percentage point to its annual revenue growth.


(INTU) - Get Intuit Inc. Report

, which makes accounting and tax software, said it would sell its


business to online insurance service


(INSW) - Get International Seaways Inc. Report

in a $14 million stock deal.

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Earnings/revenue reports and previews


(DDS) - Get Dillard's Inc. Report

posted third-quarter earnings of 7 cents a share, missing the 12-analyst estimate of 9 cents and down from year-ago earnings of 33 cents a share. The company cited a weak retail environment and a 3% decline in same-store sales. Excluding extraordinary gains on early debt payments, the retailer posted a loss of 10 cents a share.

After Friday's Close


joined a chorus of other telecom-equipment providers Friday indicating that AT&T's broadband division told the company to hold the shipment of pending orders for the remainder of the calendar year.

C-Cor said


(T) - Get AT&T Inc. Report

served the notice as part of its year-end budget balancing process. C-Cor doesn't expect the delay to have "a material effect" on the financial results for the current quarter. Analysts expect C-Cor to earn 14 cents a share for the second quarter, according to

First Call/Thomson Financial






(CTV) - Get Innovid Corp. Report




all ended lower Friday after AT&T Broadband decided to postpone taking some orders for telecommunications equipment.

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Analyst actions

Prudential Securities


Cypress Semiconductor

(CY) - Get Cypress Semiconductor Corporation Report

to accumulate from strong buy. The firm believes further upward estimate revisions are unlikely and that visibility for future quarters is not as strong as it has been for the last several quarters. Prudential also cut its price target to $42 from $75.

Micron Technology

(MU) - Get Micron Technology Inc. Report

was upgraded to strong buy from buy and its 12-month price target was upped to $50 from $40 at

Banc of America

, but its 2001 EPS estimate was downgraded to $2 from $3.70 at

ABN Amro



(NOK) - Get Nokia Corporation Sponsored American Depositary Shares Report

was cut from

Morgan Stanley Dean Witter's

European model portfolio of top stock picks. The firm said it put money into



in the European model portfolio.


MGM Mirage


: UP to buy from neutral at

Salomon Smith Barney


Public Service Enterprise Group

(PEG) - Get Public Service Enterprise Group Incorporated Report

: UP to buy from add at ABN Amro.



(ALTR) - Get Altair Engineering Inc. Report

: fourth-quarter EPS view to 31 cents from 32 cents at

Lehman Brothers

and 2001 EPS estimate to $1.40 from $1.45.



: price target DOWN to $200 from $300 at Salomon.


(XLNX) - Get Xilinx Inc. Report

: 2001 EPS view DOWN to $1.28 from $1.30 at Lehman and 2002 EPS view down to $1.72 from $1.82.


BEA Systems


: NEW buy at

UBS Warburg

; price target: $75.

Energy Partners


: NEW intermediate and long-term buy at

Merrill Lynch

; 12-month price target: $19.

Inverness Medical Technology


: NEW buy at UBS Warburg: price target: $44.

Redback Networks


: NEW buy at

W.R. Hambrecht

; price target: $120.

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Offerings and stock actions


(CRY) - Get CryoLife, Inc. Report

, which makes medical supplies and develops living human tissue implants, said its board authorized a 3-for-2 stock split.

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named Jaime Ellertson chief executive, succeeding James Mahan III, who is becoming chairman. Mahan is replacing Michel Akkermans, who resigned from the chairman's position, but is remaining on the board.

Sovereign Bancorp


said it will lay off 6% of its workforce, or 500 employees, as part of its restructuring after acquiring several branches from

FleetBoston Financial


. The company said it will take about $15 million in aftertax restructuring charges.

After Friday's Close



Chief Executive Juergen Schrempp said that the first effects of restructuring at the group's Chrysler unit would be seen after 12 months, according to



Schrempp told the paper that he was confident DaimlerChrysler was going to emerge stronger from the troubles at Chrysler, which faces heavy losses.

Yesterday, the automaker's CFO Manfred Gentz said it might make an announcement on job cuts in the Chrysler unit within the next few days. Gentz also said that further temporary plant shutdowns in North America were planned, on top of the three already announced. As part of the company's overhaul, the U.S. unit's top managers were replaced by senior executives from the group's headquarters in Germany.

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