Updated from 11:12 a.m. EST.

CacheFlow

(CFLO)

makes things that speed up the Web by storing data in a cache, or easily accessible memory storage place. Hence, the oh-so-clever company name. Clients use their products and services to increase efficiency, but a clever name can only get you so far these days.

The company announced that third-quarter earnings came in at a 49-cent loss. That's even lower than the lowered 44-cent loss expectation on

First Call/Thomson Financial's

books. Just last week, CacheFlow warned that third-quarter revenue would miss estimates and the company soon would be taking steps to remedy the situation, including the sinister threat to "aggressively manage headcount."

Well, that aggressive management strategy was outlined in the wake of the earnings miss. The company will reduce its headcount by 10% to 15% and will take a $2 million to $3 million charge in the fourth quarter.

Going forward, the next quarter will be flat with the one announced today, coming in with a net loss between $14 million and $16 million. CacheFlow ended the day down $3.94, or 28.1%, to $10.06.

Mergers, acquisitions and joint ventures

After Monday's Close

ADC Telecom

(ADCT) - Get Report

agreed to acquire

CommTech

, a provider of order management, provisioning and activation software for communications service providers, for about $185.5 million in stock.

The telecom equipment company said it expects to take an undisclosed charge for expenses related to the acquisition. The company expects to close the deal by the end of the month. CommTech, which is privately held, is based in Cranbury, N.J. ADC Telecom closed up 31 cents, or 2.3%, to $13.69.

Cypress Semiconductor

(CY) - Get Report

announced plans to acquire

HiBand Semiconductors

, a maker of circuits for the high-speed communications market. The San Jose, Calif.-based company said it expects the deal to close sometime in the first quarter. Cypress finished today up 37 cents, or 1.5%, to $24.60.

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Earnings/revenue reports and previews

American Standard

(ASD)

makes toilets. Insert punch line here. The toiletmaker and plumbing equipment company announced fourth-quarter earnings of 81 cents a share, meeting estimates and beating the year-ago 73 cents a share. Revenue came in at $1.77 billion, just north of the year-ago $1.75 billion. Going forward, the company said it saw earnings growth of 13% in the next year. American Standard closed up 26 cents, or 0.5%, to $52.29.

Beverly Enterprises

(BEV)

, the nursing home operator, announced pro-forma fourth-quarter earnings of 11 cents a share, right what analysts expected and better than the year-ago 6 cents a share. A pretax charge of $85.6 million due to increasing allowances for receivables, a write-down on some therapy clinics and some reorganization costs would have wiped that gain out. Including the charge, the company lost 45 cents a share. That said, Beverly said that a

Medicare

provider relief package would add at least $30 million to 2001 revenue, with 10% earnings growth. Beverly Enterprises closed down 4 cents, or 0.5%, to $8.25.

Coventry Health Care

(CVTY)

is a health care company. Uh --it announced fourth-quarter earnings of 24 cents a share, topping a fourth-quarter earnings of 23 cents a share. Last year's quarter came in at 19 cents a share. Revenue soared, coming in at $718.7 million against last year's $572.8 million. Coventry closed down 44 cents, or 2.2%, to $19.19.

We're No. 5!

Cox Communications

(COX)

is America's fifth-largest cabler, and it just announced fourth-quarter losses of 12 cents a share. That's not as good as last year's 18-cent profit, but better than the analysts expected -- a 21-cent loss. Cox Communications closed down $1.10, or 2.4%, to $44.94.

HCA-Healthcare

(HCA) - Get Report

, the largest U.S. hospital chain and, well,

another

health care company, announced fourth-quarter earnings of 35 cents a share, topping the 34-cent estimate and the year-ago 28 cents a share. Revenue came in at $4.2 billion, higher than the $4.1 billion estimate. HCA-Healthcare ended the day up $1.40, or 3.7%, to $39.

Lincoln National

(LNC) - Get Report

, a life insurance company, announced fourth-quarter earnings of 94 cents a share, beating the 89-cent estimate and the year-ago 82 cents a share. That said, revenue fell to $1.77 billion from last year's $1.81 billion. Lincoln National finished the day down 44 cents, or 0.9%, to $46.25.

Marriott International

(MAR) - Get Report

, the Washington-based hotel chain, announced fourth-quarter earnings of 59 cents a share, matching Wall Street estimates and beating the year-ago quarter. Marriott International closed down $1.82, or 4.1%, to $43.17.

MBIA

(MBI) - Get Report

, the bond insurance giant, announced fourth-quarter earnings of $1.32 a share, matching estimates and topping the year-ago $1.21. MBIA ended down $2.63, or 3.6%, to $70.75.

Myriad Genetics

(MYGN) - Get Report

is one of those biotechnology firms, only instead of focusing on treatments, these guys map and scan the human genome in order to figure out predispositions for diseases and other maladies. Today, this company announced a second-quarter net loss of 5 cents a share, beating the First Call/Thomson Financial estimate of a 10-cent loss and last year's 9 cents a share. It booked revenue of $11.9 million, better than last year's $8.3 million. The analysts were expecting $10.8 million. Myriad Genetics closed up $4.38, or 6.5%, to $71.50.

Nordstrom

(JWN) - Get Report

, the chi-chi retailer of choice for the Fifth Avenue set, announced that January

same-store sales fell 1.3%. That is, sales in stores that were open last year at this time slid by 1.3%. Sales were $317 million, better than the year-ago $298 million. Nordstrom finished the day up 17 cents, or 0.9%, to $19.49.

RadioShack

(RSH)

announced that sales at stores owned by the company had increased by 9% in the month of January. Not bad! RadioShack closed down $2.71, or 5.5%, to $46.99.

Now. Now, listen here --

Perot Systems

(PER) - Get Report

, the little company founded by big-eared

Reform Party

founder Ross Perot, just announced fourth-quarter earnings, see? Now, listen here. The company, which provides information technology consulting, announced earnings of 13 cents a share, see. And that's better than the First Call/Thomson Financial estimate of 12 cents, but lower than the year ago quarter's 14 cents. Perot also said the first quarter would come in flat with the fourth quarter. Perot Systems closed ended the day down 35 cents, or 2.9%, to $11.65.

Torchmark

(TMK)

announced the results of its fourth quarter, but didn't exactly burn the house down doing it. No, the insurance provider came in with earnings of 74 cents a share, matching the First Call/Thomson Financial estimate and topping the year-ago 66 cents. Revenue came in at $643.9 million, higher than the $631.5 million in the third quarter. Torchmark closed down $1.29, or 3.7%, to $33.78.

After Monday's Close

Layoffs here, layoffs there. Layoffs, layoffs, everywhere. Monday was another grim day on Wall Street, as more New Economy companies reversed course, with yesteryear's job creation transmogrifying into job elimination.

Razorfish

(RAZF)

axed 400 jobs around the world as part of an attempt to save about $70 million in 2001.

The digital design and consulting company said eliminating about 20% of its workforce would increase profitability and shareholder value.

To cut costs in other ways, the New York-based Razorfish will restrict expense policies in some areas, streamline some regional departments and expand its use of partnerships and alliances. Razorfish closed down 3 cents, or 1.7%, to $1.78..

Another downsizing company in the news is

InfoSpace

(INSP) - Get Report

. The Internet infrastructure provider announced that it would cut 250 employees, or about 21% of its workforce, as part of a restructuring plan.

By eliminating the jobs, the company said it will be poised for growth in the wireless, merchant and broadband areas.

The company, which is based in Bellevue, Wash., will announce the remainder of its restructuring plans, as well as revised guidance for 2001 and new guidance for 2002, in the next few weeks. InfoSpace ended Tuesday down 59 cents, or 13.97%, to $3.66.

Meanwhile, online toy retailer

eToys

(ETYS)

became the latest e-commerce casualty Monday, firing its remaining 293 workers and saying it would wind down operations this spring.

Some workers will remain on the job as long as through April 6, and eToys will continue to work with

Goldman Sachs

to "explore a range of strategic alternatives," including a merger, asset sale or financial restructuring. But eToys left little hope that it would survive beyond March 31, when its remaining cash is due to run out, saying that it "does not believe that additional capital will be available to the company."

The company said it received a notice from

Nasdaq

that its shares are in danger of being delisted because they have traded at under $1 for at least 30 consecutive days. eToys dropped 3 cents Monday to 28 cents.

TheStreet.com

wrote a separate story on eToys'

dire straits. eToys closed Tuesday down 9 cents, or 33.3%, to 19 cents.

Computer Sciences

(CSC)

reported third-quarter earnings that missed Wall Street expectations, as the strong dollar, severance costs and lower software licensing sales to health care customers led to the shortfall.

The consulting and information technology services company said earnings rose to $122.9 million, or 72 cents a share, before special items. Computer Sciences earned 66 cents a share in the same period last year. Thirteen analysts polled by

First Call/Thomson Financial

were calling for the company to earn 74 cents in the quarter.

Revenue totaled $2.66 billion, a 12.9% increase from $2.36 billion in the year-ago period. Computer Sciences closed down 34 cents, or 0.6%, to $59.06.

J.D. Edwards

(JDEC)

said Monday that it expects to fall short of Wall Street's earnings expectation for the first fiscal quarter, and the company named Hank Bonde chief operating officer. Bonde, who was most recently the president and chief executive of

Tachyon

, replaces Dave Girard, who resigned from the company.

The enterprise and supply chain software company said it expects to lose 1 cent to 2 cents for the quarter, reversing the consensus estimate, which calls for the company to earn a penny. The company broke even in the year-ago period. Revenue should be between $208 million and $218 million, short of the $232 million in the first quarter last year. J.D. Edwards closed down $1.38, or 9.4%, to $13.25.

Employment services firm

Manpower

(MAN) - Get Report

said its net income for the quarter ended Dec. 31 rose to $53.5 million, or 70 cents a diluted share, from $48.7 million, or 63 cents, a year earlier. Analysts polled by First Call/Thomson Financial were expecting 68 cents a share. Manpower closed up 95 cents, or 2.8%, to $34.75.

TriQuint Semiconductor

(TQNT)

reported fourth-quarter earnings that beat Wall Street's slightly raised estimates by 3 cents.

For the fourth quarter ended Dec. 31, TriQuint earned $23.2 million, or 27 cents a diluted share, up from $10.2 million, or 12 cents a share, in the same period one year ago. Analysts polled by First Call/Thomson Financial expected the integrated circuits maker to earn 24 cents a share.

TriQuint, which is based in Hillsboro, Ore., posted fourth-quarter revenue of $90.3 million, up 83% from $49.4 million in the year-ago period. Revenue rose 12% from $80.6 million in the third quarter. TriQuint ended up $1.50, or 4.6%, to $34.

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Analyst actions

Boy, a lot of brokerages started looking at some new companies today. A pair of battery makers was started over at

Lehman Brothers

, while

Salomon Smith Barney

started a pair of jewelry retailers.

Upgrades

Sepracor

(SEPR)

: UP to strong buy from buy at

Robertson Stephens

. Sepracor closed down 13 cents, or 0.2%, to $64.06.

Downgrades

Applied Micro Circuits

(AMCC)

: DOWN to market outperform at

Goldman Sachs

, removed from U.S. recommended for purchase list. Applied Micro Circuits closed down $9.31, or 14.5%, to $55.06.

Comdisco

(CDO)

: DOWN to outperform from buy at Salomon Smith Barney. Comdisco closed down 28 cents, or 1.9%, to $14.49.

Initiations

Energizer

(ENR) - Get Report

: NEW market perform at Lehman Brothers; price target: $23. Energizer closed up $1.27, or 5.3%, to $25.34.

Micromuse

(MUSE)

: NEW market outperform at Goldman Sachs. Micromuse closed down $4.94, or 6.4%, to $72.06.

OTG Software

(OTGS)

: NEW outperform at Salomon Smith Barney; price target: $15. OTG closed down 81 cents, or 7.2%, to $10.50.

Rayovac

(ROV)

: NEW buy at Lehman Brothers; price target: $25. Rayovac closed up 71 cents, or 3.8%, to $19.29.

Tiffany

(TIF) - Get Report

: NEW outperform at Salomon Smith Barney. Tiffany closed down 7 cents, or 0.2%, to $34.80.

Timberland

(TBL)

: NEW buy at Lehman Brothers; price target: $75. Timberland closed up $5.19, or 8.6%, to $65.45.

Zale

(ZLC)

: NEW buy at Salomon Smith Barney; price target: $50. Zale closed up $2.01, or 5.6%, to $38.

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By the Numbers

The data on NYSE and Nasdaq percent winners and losers are filtered to exclude stocks whose previous day's volume was less than 25,000 shares; whose last price was less than 5; and whose net change was less than 1/2.

Dow point gain and loss data are based on New York closing prices and do not reflect late composite trading.

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