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Change In Ratings | Stock Comments / EPS Changes | Strategy Calls / Market Calls | Economics | Meetings | View Archived StreetNotes

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Magma Design Automation, Inc.(LAVA / NYSE)
Robertson Stephens
Initiating coverage with Buy rating and $28 target. Next-generation leader in design automation.

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Mobile Mini (MINI / Nasdaq)
Salomon Smith Barney
Initiating coverage with a Buy rating and $43 target. Leading provider of portable storage units primarily to commercial customers in 35 markets in 18 states.

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Sepracor (SEPR / Nasdaq)
Deutsche Banc Alex Brown
Upgrading to Strong Buy from Buy. Clarinex licensed from Sepracor, received final FDA approval, anticpating royalties in excess of $30m. Furthermore, expect FDA approval in early March from both Soltara and Xopenex which could significantly expand the current revenue line.

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Tier Technologies (TIER / Nasdaq)
UBS Warburg
initiating coverage with Buy rating and 12-mo. PT of $26 implies upside of almost 20% from current levels. Rating based on effective market positioning, focus on nondiscretionary components of IT budgets in stable vertical markets, and a highly disciplined management team.

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Adolph Coors Company (RKY / NYSE)
JP Morgan Chase & Co.
RKY agreed to buy UK beer company Carling for 1.7bn, Carling is #2 brewer in UK and #1 brand. We think Coors paid just over 8x EBITDA, the deal should be at worst slightly dilutive to earnings in 2002 and accretive thereafter. Significant positive of the deal is to lessen co's dependence on Coors Light.Stock has had a big run here, while we view deal as a slight positive, would expect stock to be weak.

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Adolph Coors Company (RKY / NYSE)
NEWS
announced it would buy Interbrew's Carling Brewers UK division for $1.7 billion. Coors said it planned to finance the purchase with about $200 million in cash on hand and a combination of bank and public debt.

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Alamosa Holdings (APS / NYSE)
Salomon Smith Barney
Reiterate Buy. On-track for 4Q. Attractive valuation. Target $28.

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Bed Bath & Beyond (BBBY / Nasdaq)
Dain Rauscher
Another solid quarter. Long-term market share thesis continues to play out.

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barnesandnoble.com (BNBN / Nasdaq)
Goldman Sachs
Lowering 4Q01 estimates, EPS to -21c from -19c and rev to $120 million from $138 million. Holiday sales not stellar. Reiterate Neutral.

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CSG Systems International (CSGS / Nasdaq)
Credit Suisse First Boston
Planning to acquire Lucent's Kenan Systems Billing Division. Believe that deal is positive, due to accelerated EPS and revenue growth, diversified business model, accelerated international expansion and improved distribution. Maintain Buy rating.

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Deltagen (DGEN / Nasdaq)
Piper Jaffray
On 12/21, after the close, announced next full DeltaBase subscriber. Exceeded expectations for 3Q. Generally pleased with progress. Lowering 4Q from -45c to -47c since subscription was delayed.

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eBay (EBAY / Nasdaq)
Deutsche Banc Alex Brown
Expect a W-Shaped recovery as listings should settle back this week before picking up in the first 2-3 weeks of January. Reiterate Buy rating, with recommendation to add position should the stock pull back to high-$50/low-$60 range.

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Greater Bay Bancorp (GBBK / Nasdaq)
Piper Jaffray
On 12/19 annouced acquisition of ABD Insurance Financial Services. Positive strategic move. Could increase fee-based revs from 11% of rev to 30% of rev. Raising 2002 EPS by 2c to $2.17.

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General Mills (GIS / NYSE)
NEWS
GIS filed with the Securities and Exchange Commission to sell $8 billion worth of debt securities over time.

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Gene Logic (GLGC / Nasdaq)
Dain Rauscher
Gene Logic announced that its relationship with Pfizer has beenextended to include custom services and software. Reit Buy-Speculative rating.

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Level 3 Communications (LVLT / Nasdaq)
Goldman Sachs
Four of its top ten customers are under financial duress. These top 10 (including Enron) account for 40% of revs. Maintain Neutral rating.

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Monsanto Company (MON / NYSE)
JP Morgan Chase & Co.
Lowering 02 EPS est by $0.10 as we expect Argentina's suspension of payments on foreign debt to lead to a further slowdown in Monsanto's South American business next year. We estimate that Argentina accounts for approximately 10% of Monsanto's sales and 7.5% or $0.15 of EPS. We maintain our Buy, PT $40, owing to the 10-15% EPS growth potential for 2003 and beyond.

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Microsoft Corporation (MSFT / Nasdaq)
NEWS
MSFT told a federal judge that it needs at least a four-month delay of new proceedings in its antitrust trial, citing a "dramatic expansion" of the case.

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Nortel Networks Corp. (NT / NYSE)
Goldman Sachs
Reports 4Q01 of $3.4 billion and -16c. Our est. $3.3 billion and -24c, street est. $3.5 billion and -18c. Cost restructuring. Outperforming LU. Raising 2002 EPS est to -18c from -28c. Target $4-$9 range.

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Ocean Energy (OEI / NYSE)
Morgan Stanley Co.
Trimming fourth quarter and 2001 EPS estimates to $0.09 and $1.52, reflecting updated hedge information.

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Pfizer (PFE / NYSE)
NEWS
settled a lawsuit with a diabetic woman whose liver was badly damaged while she took Rezulin, a diabetes drug withdrawn in March 2000.

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Schering-Plough Corp. (SGP / NYSE)
Morgan Stanley Co.
Slightly decreased 2002 EPS estimates to $1.76, based on guidance. The FDA approval of Clarinex, removed a major overhang from SGP Stock. Reiterate Strong Buy rating.

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Schering-Plough Corp. (SGP / NYSE)
Warburg Dillon Read
Lowering EPS estimates for 4Q01, 2002 and 2003. SGP stated that 4Q01 is likely to be down 7% from last year's 4Q00 EPS of $0.39, excluding the impact of any payments related to the consent decree. Preliminary guidance is for low double-digit EPS growth in 2002 off of this lower base. Reducing price target slightly to $40 from $42.

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Southern Company (SO / NYSE)
Bank of America Montgomery
Lowering 2002 EPS estimates to $1.69 due to economic weakness. However, Georgia Power rate case settlement elimates significant overhang on the stock. Believe SO remains a strong yield play, being one of the largest and liquid names in our universe with a very dependable divident payment. Reiterate Buy rating.

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Triton PCS Holdings (TPC / NYSE)
Salomon Smith Barney
On-track. Reiterate Buy and $56 price target. Substanially increased its competitive position.

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Bear Stearns (Sentiment)
Bullish sentiment SPX 63%, NDX 59%, 5 day moving average 61 and 58%. EQUITY P/C down to .59.

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Morgan Stanley Co. (OE Suppliers)
Due to higher vehicle production forecast for 2002, we have increased 2002 EPS estimates for the following companies: AXL, BWA, DPH, DRRA, LEA, MGA, TWR, ARM, CTB, DCN, JCI, SRI, SUP, TEN. Rating range varies, from Neutral to Outperform.

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Oscillator: (0.2)

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Nothing For Today
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