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16:14 ET Overture Svcs beats, guides down (OVER) 16.53 +0.45: Reports Q1 (Mar) earnings of $0.15 per share, $0.01 better than the Reuters Research consensus of $0.14; revenues rose 57.3% year/year to $224.7 mln vs the $218.5 mln consensus. Company sees Q2 EPS of $0.04-0.06 vs R.R. consensus of $0.14; revenues of $240-255 mln, est $244 mln. Company cites 1) lower-than-forecasted revenue in U.S. Pay-For-Performance service; 2) traffic acquisition costs at the high end of previously forecasted range; and 3) increased technology and infrastructure expenses to drive the Web search and Pay-For-Performance product lines.
This SARS thing won't go away quietly.........
China says it was lax on SARS
10 times more cases in Beijing, 2 officials fired
Beijing -- In a rare admission Sunday of serious mistakes, the Chinese government stripped the minister of health and the mayor of Beijing of power for their mishandling of the SARS crisis, canceled a national weeklong holiday, and reported almost 10 times more cases in Beijing, with hundreds more likely to come.
After weeks of claims to the contrary, health officials acknowledged a full- fledged outbreak in the capital, with 346 confirmed cases of severe acute respiratory syndrome and 18 deaths, with 402 more suspected cases under evaluation.
Those figures rank Beijing as the city with the third-largest number of SARS cases in the world, after Hong Kong and Guangzhou in southern China.
China now acknowledges 79 deaths and 1,814 confirmed cases overall, almost half the worldwide total, and those figures are expected to rise in the coming weeks as cities and provinces are pressured to provide accurate information.
The Health Ministry was "not well-prepared" for the outbreak and "didn't give clear instructions or effective guidance," Vice Minister of Health Gao Qiang said in unusually candid admissions at a nationally televised news conference. "The Chinese government answers to the broad masses of the people, and we will try all means to reverse and improve upon the weaknesses and faulty aspects of our work."
Shortly after Gao's remarks, the official New China News Agency announced that Health Minister Zhang Wenkang, who days ago had declared SARS "under control" in China, and Beijing Mayor Meng Xuenong, whose government failed to give a candid accounting of SARS, were removed from their Communist Party posts but kept their government titles.
The cancellation of the weeklong May Day holiday, also announced by Gao on Sunday, indicated how seriously the government is now taking SARS, which has a mortality rate of about 4 percent.
Tens of millions of Chinese normally travel during the holiday, packing trains and airplanes as families go on vacation and migrant workers and students return home.
GLOBAL EMBARRASSMENT
The announcements mark the apparent culmination of a slow awakening by senior officials to the threats the SARS outbreak poses for public health, the economy and the government's reputation abroad.
The government's mishandling of SARS has become its worst international embarrassment since the crackdown of democracy protests at Tiananmen Square in 1989. Foreign health experts have assailed China for responding too slowly to the outbreak and misleading the public about its spread.
State-run national television did not report on SARS until this month, three months after officials in southern China's Guandong province realized that they were facing a dangerous new infectious disease.
Zhang then talked about symptoms of the disease and prevention techniques but understated its impact in China.
Until last week, reports in the state-run media had often focused on reassuring people that SARS was not a serious problem -- an indication to many Chinese that it in fact must be the opposite.
Last week, the media prominently reported directives from President Hu Jintao and the nine-member Politburo Standing Committee, on better handling and on the reporting of SARS cases.
"I think maybe before the last week, their first priority was to make up something to improve their public relations image," said Wu Guoguang, a professor at the Chinese University of Hong Kong who was ejected from the Communist Party for criticizing the violent 1989 crackdown on democracy protesters in Beijing. "Now they have to deal with the real crisis, not only the PR crisis."
WORD ON THE STREET
On the streets of the capital, people said they were surprised by the shakeup.
"This is great!" said Li Chen, 33, a designer who said his uncle, a doctor, has the virus. "I never thought those bastards would go. I hope more of them step down because of this."
Asked, however, if the government's action would help restore the public's trust, which has been eroded by the government's handling of the disease, Li shook his head. "They are only going to be as open as they have to," he said. "You can't teach old dogs new tricks."
Critics assert that if China had more aggressively battled SARS in southern Guangdong province in late January and early February, the disease would not have spread as quickly to Hong Kong, the rest of China and around the globe.
And the government's reputation abroad on SARS suffered in recent days with published reports that two Beijing hospitals, at the direction of the city government, put SARS patients in hotel rooms and took others for rides in ambulances around the city to conceal the true numbers from visiting World Health Organization doctors.
Gao said Sunday that it was difficult to come up with an accurate count of cases for Beijing because patients were at more than 70 hospitals under several different authorities, but the public didn't wait for the official figures before taking action.
Tourism and business trips to Beijing are sharply down. In the university district in northwest Beijing, some students have bought train tickets to go home to escape the illness, while others have confined themselves to their dorm rooms.
What may have troubled the central government most was the economic impact of SARS. China's social stability depends in large part on a fast-growing economy that continues creating jobs for laid-off state employees and migrant workers.
http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2003/04/21/MN143514.DTL
Microtune Wins Another Victory in Patent Case against Broadcom
Thursday April 17, 3:45 pm ET
Court Issues Injunction against Broadcom's Tuner
Court also Denies Broadcom's Motions for JMOL
SHERMAN, Texas--(BUSINESS WIRE)--April 17, 2003-- Microtune®, Inc. (Nasdaq:TUNE - News) announced today that the United States District Court for the Eastern District of Texas, Sherman Division, has issued a preliminary injunction barring Broadcom Corporation from selling, offering to sell, or importing into the United States its BCM3415 silicon tuner and certain reference design boards containing the BCM3415.
In addition, the Court ruled that Broadcom's officers, employees, agents, and "all persons in active concert or participation therewith who receive notice" of the injunction order are enjoined from infringing Microtune's patent by selling, offering for sale, or importing into the U.S. the BCM3415 tuner from Broadcom. The Court additionally noted that "products merely colorably different" from the infringing BCM3415 tuner would be deemed to fall under the injunction order. The Court's entry of this injunction arises from the March 20, 2003 jury verdict that found that Broadcom had willfully infringed on Microtune's patent, U.S. Patent No. 5,737,035, for the Company's pioneering single-chip tuner technology.
On April 11, 2003, the Court denied all of the Motions filed by Broadcom for JMOL (Judgment as a Matter of Law). The effect of these rulings was to uphold the jury's findings of validity and enforceability of Microtune's patent, and also uphold the jury's findings that Broadcom willfully infringed that patent.
"We are very pleased by the Court's actions," said Douglas J. Bartek, Chairman and CEO of Microtune. "This preliminary injunction and the Court's affirmation of our patent rights demonstrate that our U.S. patent system works. Even small, enterprising companies can protect their valued intellectual property rights against much larger competitors. The jury's finding of willful infringement is especially gratifying."
Microtune's '035 patent covers the development of 'a highly integrated silicon tuner on a single microcircuit.' It is a technological innovation that Microtune began developing in 1996 and launched publicly as the MicroTuner(TM) single-chip tuner in January 1999. Microtune holds another 23 U.S. patents covering tuner technology, with over 50 applications pending.
Microtune was represented in the lawsuit by Gray Cary Ware & Freidenrich LLP of Austin, Texas and San Diego and Clyde Siebman of Sherman, Texas.
About Microtune
Microtune, Inc. is a leading silicon and systems company that designs, manufactures and markets radio frequency (RF)-based solutions for the global broadband communications, transportation electronics and wireless connectivity markets. Inventors of the MicroTuner single-chip broadband tuner, the Company offers a portfolio of advanced tuner, amplifier, transceiver and wireless products that enable the delivery of information and entertainment across new classes of consumer electronics devices. The Company currently holds 24 U.S. patents for its technology, with more than 50 applications pending approval that span its RF and wireless products, containing more than 2,000 supporting claims. Founded in 1996, Microtune is headquartered in Plano, Texas, with key design, manufacturing and sales centers located around the world. The web site is www.microtune.com.
Microtune is traded on the NASDAQ Stock Exchange under the symbol TUNE.
EDITORS NOTE: Microtune is a registered trademark and MicroTuner a trademark of Microtune, Inc.
--------------------------------------------------------------------------------
Contact:
Microtune, Inc.
Media
Kathleen Padula, 972/673-1811
kathleen.padula@microtune.com
or
Investor Relations
Nancy A. Richardson, 972/673-1850
investor@microtune.com
http://biz.yahoo.com/bw/030417/175531_1.html
15:56 ET Microtune announces injunction against Broadcom Tuner (TUNE) 2.34 +0.12: Announces that a U.S. District Court has issued a preliminary injunction barring Broadcom (BRCM 16.52 +2.36) from selling, offering to sell, or importing into the United States its BCM3415 silicon tuner and certain reference design boards containing the BCM3415.
VIX @ LOD.
16:30 ET Apple Computer beats by 2 cents, issues vague guidance (AAPL) 13.24 -0.15: Reports Q2 (Mar) earnings of $0.04 per share, $0.02 better than the Multex consensus of $0.02; revenues fell 1.3% year/year to $1.48 bln vs the $1.46 bln consensus. For Q3, co expects rev to be "relatively flat" with the March qtr and expects a "slight profit" for the qtr.
16:29 ET Silicon Image in line with consensus (SIMG) 4.47 +0.05: Reports Q1 (Mar) earnings of $0.01 per share, in line with the Multex consensus of $0.01; revenues rose 44.4% year/year to $24.7 mln vs the $24.4 mln consensus. Company gave limited guidance for FY03 IP licensing revenues to be 10%-15% of top line with no further details on sales and earnings forecasts.
Management initiates the following guidance for the quarter ending June 30, 2003:
-- Revenue is expected to be in the range of $110 million and
$117 million.
-- Operating margin is expected to be in the range of 17% and 20%.
-- Diluted earnings per share is expected to be in the range of $0.16 and
$0.22.
Consistent with prior guidance provided, management offers the following guidance for the full fiscal year ending December 31, 2003:
-- Revenue is expected to be in the range of $460 million and
$500 million.
-- Operating margin is expected to be in the range of 18% and 20%.
-- Diluted earnings per share is expected to be in the range of $0.82 and
$0.97.
http://biz.yahoo.com/prnews/030416/sfw084_1.html
"Mercury Interactive's solid first quarter results, despite a difficult IT spending environment, demonstrate the value of our application delivery and management solutions, the viability of our business model and the ability of our team to execute," said Amnon Landan, chairman, CEO and president of Mercury Interactive Corporation. "We attribute these results to the emergence of Business Technology Optimization (BTO) as a strategic agenda for IT executives, as they strive to apply quality management principles to IT in order to optimize performance, reduce costs and align business and IT objectives."
http://biz.yahoo.com/prnews/030416/sfw084_1.html
16:08 ET MERQ headline number in-line, guidance in-line :
16:06 ET Cree reports in line (CREE) 23.12: Reports Q3 (Mar) earnings of $0.14 per share, in line with the Multex consensus of $0.14; revenues rose 80.5% year/year to $60.2 mln vs the $60.5 mln consensus.
16:06 ET Advanced Micro tops ests (AMD) 7.85 +0.25: Reports Q1 (Mar) loss of $0.42 per share, $0.06 better than the Multex consensus of ($0.48); revenues fell 20.8% year/year to $714.6 mln vs the $680.1 mln consensus.
16:05 ET PacifiCare halted, news pending (PHSY) 23.01 -2.15: -- Update --
16:05 ET Harris Corp beats by $0.02 (HRS) 27.93 -0.48: Reports Q3 (Mar) earnings of $0.34 per share, $0.02 better than the Multex consensus of $0.32; revenues rose 11.5% year/year to $538.9 mln vs the $515.8 mln consensus.
16:04 ET Sun Microsystems reports in line (SUNW) 3.32 -0.03: Reports Q3 (Mar) net of breakeven, in line with the Multex consensus of $0.00; revenues fell 10.2% year/year to $2.79 bln vs the $2.94 bln consensus.
Bush approves talks in Beijing with North Korea
David E. Sanger, New York Times
Published April 16, 2003 KORE16
WASHINGTON, D.C. -- President Bush has approved a plan for the United States to begin negotiations with North Korea next week in Beijing, the first talks between the two countries since the government of Kim Jong Il threw out international inspectors and restarted its main nuclear weapons plant, U.S. and Asian officials said Tuesday.
White House officials refused to comment on the negotiations. But officials in several countries said China has now promised the United States it will act as a full participant in the talks, rather than just convening the other two parties. The Chinese had hoped to conduct the initial meetings in secret, officials said.
The agreement to enter the negotiations with both China and the United States marks a major concession for North Korea and an apparent victory for President Bush. His strategy of not engaging in one-on-one talks with North Korea had been widely criticized by Asian allies and by many Korea experts.
North Korea, in turn, had insisted on talking only with Washington, a reflection, experts said, of its obsession with being treated as an equal.
Bush refused, insisting that the North Korean nuclear program was a major problem for all of northeast Asia. He said that if the United States negotiated alone, North Korea would attempt to split Washington from its Asian allies, who would pressure the United States to strike a deal on North Korea's terms.
But by keeping the Japanese, the South Koreans and the Russians out of the room next week, the North can make the face-saving argument that only one other nation -- one that has served as the North's economic lifeline -- is involved.
"This is what the traffic would bear," a senior U.S. official familiar with the negotiations said Tuesday.
The official described the participation of the Chinese as a breakthrough.
"What's new here is that there is an active, bold participatory role for the Chinese," the official said.
http://www.startribune.com/stories/484/3828756.html
16:29 ET Intel Q2 guidance (INTC) : -- Update -- Co. says Q2 revs are expected to be between $6.4 bln and $7.0 bln vs the Multex consensus estimate of $6.62 bln; capital spending for 2003 is expected to be between $3.5 bln and $3.9 bln -- co's prior guidance was for capex to be $3.76 bln, plus or minus $200 mln.
16:25 ET Intel reports Q1 results (INTC) 17.13 -0.03: -- Update -- Co. reports Q1 earnings of $0.14 per share, this includes a tax benefit of approximately $75 mln related to divestitures, "which increased earnings per share by $0.01". Looks like $0.13 per share may be the comparable number to the Multex consensus of $0.12 per share. Either way company edged topline ests as revenues fell 0.4% year/year to $6.75 bln vs the $6.72 bln consensus. Details to follow...
Intel Posts Lower Profit as Expected
Tuesday April 15, 4:17 pm ET
SAN FRANCISCO (Reuters) - Intel Corp. (NasdaqNM:INTC - News), the world's largest maker of microprocessors, on Tuesday posted lower first-quarter earnings in line with cautious expectations on revenues that were little changed.
Net income for the quarter was $915 million, or 14 cents per share, compared with $936 million, or 15 cents per share, a year earlier, the Santa Clara, California-based company said.
Revenue was $6.75 billion compared with $6.78 billion a year earlier.
Analysts, on average, had expected Intel to post earnings per share of 12 cents with forecasts ranging between 11 cents and 13 cents. Last month, Intel narrowed its revenue forecast range to between $6.6 billion and $6.8 billion.
http://biz.yahoo.com/rb/030415/tech_intel_earns_1.html
Reuters
Microsoft Posts Profit Amid Tech Slump
Tuesday April 15, 4:11 pm ET
SEATTLE (Reuters) - Microsoft Corp. (NasdaqNM:MSFT - News) on Tuesday posted quarterly earnings above expectations on higher revenue, but issued a cautious outlook amid a persistent slump in information technology spending.
The world's largest software maker reported a net profit of $2.79 billion, or 26 cents per share, for its fiscal third quarter ended March 31, compared with $2.74 billion, or 25 cents per share, a year earlier. Analysts had forecast a profit of 24 cents per share.
Redmond, Washington-based Microsoft's revenue rose to $7.84 billion from $7.25 billion a year earlier, compared with the $7.75 billion projected by analysts polled by Thomson First Call (News - Websites).
http://biz.yahoo.com/rb/030415/tech_microsoft_earns_3.html
16:12 ET Microsoft beats by $0.02, guides (MSFT) 24.53 -0.22: Reports Q3 (Mar) earnings of $0.26 per share, $0.02 better than the Multex consensus of $0.24; revenues rose 8.1% year/year to $7.84 bln vs the $7.73 bln consensus. Company Q4 sees EPS of $0.23-0.24 vs Multex consensus of $0.24, revs of $7.8-7.9 vs consensus of $7.96 bln; Y04 EPS of $1.04-1.06, consensus of $1.08, revenues of $33.1-33.8 bln vs consensus of $34.9 bln
16:09 ET Texas Instruments guides for Q2 Y03. (TXN) 17.20 +0.26: Company issues guidance for Q2 (Jun), company sees EPS of $0.08 "plus or minus a few cents", vs. Multex consensus of $0.09.
IBM up 1.50 from close
Trading @ 19 times forward earnings then.
16:55 ET Novellus sees tentaive behavior by customers (NVLS) 27.35 +0.70: -- Update -- Says it is seeing very tentaive behavior on the part of customers who are being impacted by the war and SARS... latter has contibuted to a sense of reluctance on the part of its customers and its own employees to interact with one another... NVLS at 26.20 -1.15
16:54 ET Sharper Image updates FY02 outlook; announces acctg "corrections" (SHRP) 19.70 -0.41: Says final FY02 results will "increase to a diluted earnings per share of $1.21 from its preliminary reported $1.12 diluted earnings per share" and The increase in results from those previously reported "primarily relates to three accounting corrections which are reflected in the current year." In addition to the impact in fiscal 2002, the effect of these accounting corrections was to increase fiscal 2000 diluted earnings per share to $1.34 from the reported $1.33. The correction will also decrease fiscal 2001's both diluted and basic earnings per share to $0.09 from the reported $0.10 and $0.11 respectively.
16:42 ET IBM gives color on Q1 revenues (IBM) 79.92 -0.15: -- Update -- On call, IBM says Q1 (Mar) revenue was negatively impacted by its exit of unprofitable businesses, and a 5% drop in actual PC sales.
16:38 ET IBM says its comfortable with full year EPS and revenue consensus estimates (IBM) 79.92 -0.15: -- Update -- On call, IBM says it is on track to meet the average analyst EPS and revenue estimate for FY03 (Dec)... Multex consensus estimates are pegged at $4.32 and $88.01 bln, respectively, for 2003.
IBM first-quarter earnings rise on cost cuts
Monday April 14, 4:10 pm ET
NEW YORK, April 14 (Reuters) - International Business Machines Corp. (NYSE:IBM - News) said on Monday that quarterly earnings rose for the first time in almost two years, helped by cost cuts and the closure of some old chip-making facilities.
Armonk, New York-based IBM, which sells everything from computer services to giant mainframes to software, reported first-quarter income net income of 79 cents per share, up from 68 cents per share a year earlier.
IBM, like many technology companies, cut about 15,000 jobs last year and closed down some older chip-making facilities as it faced an extended downturn in corporate spending.
http://biz.yahoo.com/rc/030414/tech_ibm_earns_1.html
16:12 ET IBM misses by a penny, revs top consensus (IBM) 80.07 halted: Reports Q1 (Mar) earnings of $0.79 per share, $0.01 worse than the Multex consensus of $0.80; revenues rose 11.3% year/year to $20.07 bln vs the $19.86 bln consensus.
16:09 ET Novellus beats by a penny (NVLS) 27.37 +0.72: Reports Q1 (Mar) earnings of $0.08 per share, $0.01 better than the Multex consensus of $0.07; revenues rose 9.6% year/year to $238.4 mln vs the $234.2 mln consensus.
..........Richard S. Hill, chairman and chief executive officer, said, "The demand for semiconductor capital equipment remains sluggish. However, in this challenging environment, we will continue to focus our efforts in areas with the best growth opportunities, continue to deploy advanced technologies, and use our financial strength to forge ahead with strategic research and development projects.".............
http://biz.yahoo.com/prnews/030414/sfm125_1.html
15:48 ET Andrx gets FDA approval for generic Tiazac (ADRX) 12.41 +0.75: Announces that the FDA has approved the marketing of its Abbreviated New Drug Application for generic Tiazac, to be marketed under the name Taztia. (Tiazac is manufactured by BVF, marketed by FRX, and had 2002 U.S. sales of $270 mln.)
Marines find underground nuke complex
Captain guarding facility: 'How did the world miss all of this?'
--------------------------------------------------------------------------------
Posted: April 9, 2003
7:00 p.m. Eastern
© 2003 WorldNetDaily.com
U.S. Marines have located an underground nuclear complex near Baghdad that apparently went unnoticed by U.N. weapons inspectors.
Hidden beneath the Iraqi Atomic Energy Commission's Al-Tuwaitha facility, 18 miles south of the capital, is a vast array of warehouses and bombproof offices that could contain the "smoking gun" sought by intelligence agencies, reported the Pittsburgh Tribune-Review.
"I've never seen anything like it, ever," said Marine Capt. John Seegar. "How did the world miss all of this? Why couldn't they see what was happening here?"
Marine nuclear and intelligence experts say that at least 14 buildings at Al-Tuwaitha indicate high levels of radiation and some show lethal amounts of nuclear residue, according to the Pittsburgh daily. The site was examined numerous times by U.N. weapons inspectors, who found no evidence of weapons of mass destruction.
"They went through that site multiple times, but did they go underground? I never heard anything about that," said physicist David Albright, a former International Atomic Energy Agency inspector in Iraq from 1992 to 1997.
In a 1999 report, Albright said, "Iraq developed procedures to limit access to these buildings by IAEA inspectors who had a right to inspect the fuel fabrication facility."
"On days when the inspectors were scheduled to visit, only the fuel fabrication rooms were open to them," he said in the report, written with Khidhir Hamza, an Iraqi nuclear engineer who defected in 1994. "Usually, employees were told to take to their rooms so that the inspectors did not see an unusually large number of people."
Chief Warrant Officer Darrin Flick, the battalion's nuclear, biological and chemical warfare specialist, said radiation levels were particularly high at a place near the complex where local residents say the "missile water" is stored in mammoth caverns.
"It's amazing," Flick said. "I went to the off-site storage buildings, and the rad detector went off the charts. Then I opened the steel door, and there were all these drums, many, many drums, of highly radioactive material."
Iraq began to develop its nuclear program at Al-Tuwaitha in the 1970s, according to the Institute for Science and International Security. Israel destroyed a French-built reactor there in 1981 and a reactor built by the Russians was destroyed during the 1991 Gulf War.
Hamza testified before Congress last August that if left unchecked, Iraq could have had nuclear weapons by 2005.
Noting that the ground in the area is muddy and composed of clay, Hamza was surprised to learn of the Marines' discovery, the Tribune-Review said. He wondered if the Iraqis went to the colossal expense of pumping enough water to build the subterranean complex because no reasonable inspector would think anything might be built underground there.
"Nobody would expect it," Hamza said. "Nobody would think twice about going back there."
Michael Levi of the Federation of American Scientists said the Iraqis continued rebuilding the Al-Tuwaitha facility after weapons inspections ended in 1998.
"I do not believe the latest round of inspections included anything underground, so anything you find underground would be very suspicious," said Levi. "It sounds absolutely amazing."
The Pittsburgh paper said nuclear scientists, engineers and technicians, housed in a plush neighborhood near the campus, have fled, along with Baathist party loyalists.
"It's going to take some very smart people a very long time to sift through everything here," said Flick. "All this machinery. All this technology. They could do a lot of very bad things with all of this."
Marine Capt. Seegar said his unit will continue to hold the nuclear site until international authorities can take over. Last night, they monitored gun and artillery battles by U.S. Marines against Iraqi Republican Guards and Fedayeen terrorists.
The offices underground are replete with videos and pictures that indicate the complex was built largely over the last four years, the Tribune-Review said.
http://worldnetdaily.com/news/article.asp?ARTICLE_ID=31966
Actually, if, and I mean a big IF, that wild guess of mine
would come to pass, would it not be good for the global
economy?
Perhaps that could open a back door to the UN having a "vital
role" in the reconstruction of Iraq? Russia, France, Germany,
etc. eat some hefty debt. The US, UK, & Austrailia act
magnanamous & allow the UN to attempt to become "relevant". We
help the smarmy three by giving them some reconstruction
contracts & they help restore the peace, under US/UK
supervision.
Everyone has a chance to save face.
Just a SWAG.
The Pentagon said there is no truth to the Al Jazera report that
Saddam has taken refuge in the Russian embassy.
NYSE Tick is jammed on Astrikos. It's at 1233 there right now.
U.S. Seizes Presidential Palace in Baghdad
Monday, April 07, 2003
BAGHDAD, Iraq — U.S. troops stormed into the heart of Baghdad on Monday, seizing key buildings including one of Saddam Hussein's palaces on the Tigris River and the Information Ministry.
More than 70 tanks and 60 Bradley fighting vehicles took part in the raid under cover of tank-killing A10 Warthog planes and pilotless drones.
Four or five Marines killed when their armored troop carrier took a direct hit from artillery shell at a bridge over a canal on the outskirts of Baghdad, according to Lt. Col. B.P. McCoy of the 3rd Battalion, 4th Marines. The Marines had been in position to cross the bridge when they were hit Monday morning, he said.
There was no estimate of Iraqi casualties.
Tanks of the 2nd Brigade of the 3rd Infantry Division barreled into the capital on the western side of the Tigris at 6 a.m. As they approached Baghdad along Highway 8, they met moderate resistance -- mostly assault fire and rocket-propelled grenades from infantry.
"I do believe this city is freakin' ours," boasted Capt. Chris Carter of Watkinsville Ga.
The U.S. Army columns moved northeast to the newest and main presidential palace on the river, which divides the capital. Iraqis -- some nearly naked -- fled along its banks. Some jumped into the water. An ammunition depot across the river was on fire.
Attack Company, 3rd Battalion, 7th Infantry entered the palace compound, searching the grounds and the building. Before the Americans seized the complex, Iraqis shot small arms fire at them from a clock tower overlooking the compound. Tanks quickly destroyed it.
The main palace building -- sand-colored brick ornamented with blue tile -- was flooded in the basement and first floor. The rest of the building appeared to be destroyed, hit by cruise missiles or laser-guided bombs.
Palace curtains were strewn over the ground, blown from their windows by the explosions. Most of the compound was severely damaged from prior U.S. raids.
Col. David Perkins told his troops before the operation that the mission was intended to be "a dramatic show of force" to demonstrate that U.S. forces can enter Baghdad at any time, anywhere.
He said another palace on the eastern side of the Tigris was being attacked. "I hope this makes it clear to the Iraqi people that this (the regime) is over and that they can now enjoy their new freedom," Perkins said.
At the Pentagon, senior defense officials said the assault was not an effort to occupy the city -- or even a piece of it. U.S. forces might stay longer than weekend incursions into the city, but only by a matter of hours, not days, the officials said, speaking on condition of anonymity.
Perkins said the resistance coming into the city was heavier than expected: He had thought most Iraqi defenses were wiped out Saturday, but Iraqi troops laid new minefields and set up many new firing positions.
On entering the city, the Bradleys and tanks took up fighting positions around the presidential palace.
U.S. troops had to pass through a 400-yard-long minefield to approach the area. There were 200 anti-tank mines spread on the road and U.S. troops pushed them aside and continued down the highway.
"I think it's a good testament to the American soldier," Perkins said. "In the last 17 days -- over 500 miles and heavy, heavy fighting on many days -- to finally be here is a great accomplishment."
The troops also took over the Al-Rashid Hotel, which was used by foreign reporters as a base during the 1991 Gulf War. At the time, the U.S. government alleged that the building housed a military communications center.
This time, many foreign journalists who remained in the city stayed at the Palestine Hotel. As U.S. troops penetrated the city Monday, members of Saddam's Fedayeen paramilitary fighters prevented journalists from leaving the Palestine.
Iraqi troops did not use any mortars or artillery against the American forces.
F-16 fighter jets flew ahead of the U.S. armored column, bombing any tanks or armored personnel carriers along the way. U.S. troops also fired mortars on key intersections before passing through. Tanks took up positions around key intersections.
Black smoke clogged the air and covered the city.
The assault on Baghdad followed a weekend of incursions by U.S. forces in tanks and armored personnel carriers. Troops rolled through streets of the capital "destroying all of the enemy vehicles and personnel with whom they've come in contact," Gen. Peter Pace, vice chairman of the Joint Chiefs of Staff, told CNN on Sunday.
"One of the points is to destroy the enemy that we found, and the last two raids have been very, very successful at doing that," he said.
Intermittent explosions were heard in the city Sunday night into Monday, along with periodic anti-aircraft fire. Shortly before dawn, aircraft could be heard over the capital and heavier explosions shook downtown buildings, echoing from the southern outskirts.
After sunrise, a long series of blasts rocked Baghdad and dark gray smoke rose on the horizon to the south and southwest. Residents could hear what seemed to be the sound of surface-to-surface rockets, artillery and aircraft.
Prayers broadcast from Baghdad's mosques filtered through the din of battle. "God is great and to him we owe thanks," clerics intoned every time the city came under attack.
South of the capital, U.S. forces took control of the center of the holy city of Karbala on Sunday after block-by-block fighting, the Army Times newspaper reported from the scene.
Suggesting disarray among Iraq's elite fighters, Iraqi President Saddam Hussein urged Iraqi troops separated from their combat units to join other squads to fend off the Americans, in a statement read Sunday on Iraqi television and radio.
The statement also said anyone who destroys an allied tank, armored personnel carrier or artillery would be awarded 15 million dinars, or about $8,000 by the unofficial exchange rate.
Iraqi satellite television showed brief footage of a smiling Saddam in military uniform chairing a meeting it said was held Sunday with his top aides.
In a separate announcement, a broadcaster for Iraqi state radio read a decree by Saddam that two female suicide bombers be awarded posthumously the medal of the Al-Rafdin -- or "The Two Rivers" -- the nation's highest decoration, and that their families be given 50 million dinars or about $28,000 each.
The attack last week in western Iraq killed three U.S. soldiers at a checkpoint 80 miles from the Syrian border.
http://www.foxnews.com/story/0,2933,83369,00.html
16:05 ET Siebel Systems cuts guidance (SEBL) 7.75 -0.41: -- Update -- Co guides Q1 revenue outlook to a range of $330-$335 mln (Multex consensus $369.16 mln). Net income for the qtr (after taxes) is projected at $3-5 mln. SEBL says a number of customers unexpectedly postponing purchase decisions beyond the end of the quarter. "While the Company believed the sales pipeline remained sufficient to meet its sales projections for Q1, a few transactions were postponed late in the quarter. Had these transactions not been postponed, the Company would have been within its license revenue and earnings guidance for the quarter."
Siebel Systems Reports Preliminary Revenue and Earnings for the Quarter Ended March 31, 2003
Friday April 4, 4:05 pm ET
SAN MATEO, Calif.--(BUSINESS WIRE)--April 4, 2003--Siebel Systems, Inc. (Nasdaq:SEBL - News), a leading provider of eBusiness applications software, today announced preliminary results for the quarter ended March 31, 2003.
The Company expects total revenues for the first quarter of 2003 to be in the range of $330 million to $335 million and license revenues to be approximately $112 million.
Net income after taxes is expected to be in the range of $3 million to $5 million for the first quarter. The Company's estimated cash, cash equivalents, and short-term investments were approximately $2.22 billion as of March 31, 2003, an increase of approximately $60 million in the quarter.
Like many information technology companies, Siebel Systems operated in an environment of continued global economic deterioration as the quarter progressed. This deterioration resulted in a number of customers unexpectedly postponing purchase decisions beyond the end of the quarter. While the Company believed the sales pipeline remained sufficient to meet its sales projections for Q1, a few transactions were postponed late in the quarter. Had these transactions not been postponed, the Company would have been within its license revenue and earnings guidance for the quarter.
"We continue to be optimistic about the medium- and long-term potential for Siebel Systems," said Thomas M. Siebel, CEO of Siebel Systems. "We are financially rock solid with over $2.2 billion in cash. We continue to demonstrate clear product, customer and CRM market leadership. We are well positioned to differentially benefit as the economy recovers."
Siebel Systems will host a conference call today at 4:30 p.m. EST (1:30 p.m. PST) to discuss its preliminary results. The call can be accessed live over the Internet at www.siebel.com/investor or by dialing (888) 353-7307 in the U.S. or (415) 537-1912 outside the U.S. A replay of the call will be available through April 11, 2003 over the Internet through the same Web site, or by calling (800) 633-8284 in the U.S. or (402) 977-9140 outside the U.S., with reservation number 21139524.
Final first quarter financial results will be reviewed during the Company's regularly scheduled conference call on April 23, 2003 at 5:00 p.m. EDT (2:00 p.m. PDT).
About Siebel Systems
Siebel Systems, Inc. is a leading provider of eBusiness applications software, enabling corporations to sell to, market to, and serve customers across multiple channels and lines of business. With more than 3,500 customers worldwide, Siebel Systems provides organizations with a proven set of industry-specific best practices, CRM applications, and business processes, empowering them to consistently deliver superior customer experiences and establish more profitable customer relationships. Siebel Systems' sales and service facilities are located in more than 28 countries.
Note to Editors: Siebel is a trademark of Siebel Systems, Inc. and may be registered in certain jurisdictions. All other product and company names mentioned are the property of their respective owners and are mentioned for identification purposes only.
Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. The final results for the first quarter of 2003 and future operating results of Siebel Systems, Inc. may differ from the preliminary results discussed or forecasted in the forward-looking statements due to factors that include, but are not limited to, risks associated with final review of the results and preparation of quarterly financial statements, the financial, economic, political and other uncertainties caused or exacerbated by the current hostilities involving the United States and Iraq, the eBusiness software applications market, dependence on the Internet, risks associated with new versions and new products and risks associated with rapid technological change. Further information on potential factors that could affect the financial results of Siebel Systems, Inc. are included in its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and its other filings with the Securities and Exchange Commission, which are available at www.sec.gov. Siebel Systems assumes no obligation to update the information in this press release.
--------------------------------------------------------------------------------
Contact:
Siebel Systems
Investor Relations Department, 650/295-5656
investor.relations@siebel.com
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Source: Siebel Systems
http://biz.yahoo.com/bw/030404/45471_1.html
16:33 ET Polycom guides Q1 lower (PLCM) 8.84 +0.46: -- Update -- Co. expects Q1 net revenues in the range of $92 mln to $93 mln; sees pro forma net income in the range of $0.00 to $0.01 per diluted share -- Multex consensus estimates are $0.07 per share and $99.7 mln respectively.
16:26 ET MAXIMUS warns for Q2 (MMS) 21.88 +0.48: Company now expects revenue between $127 mln and $132 mln, and diluted earnings per share between $0.30 and $0.35 -- Multex consensus estimates are $0.48 per share and $135.9 mln respectively.
16:17 ET MRO Software guides Q2 lower (MROI) 7.51 +0.52: Says Q2 revs are anticipated to be approximately $39 mln, "below the company's previously stated expectation of $44 million to $46 million" (consensus $44.3 mln); sees pro-forma EPS at approximately $0.01 to $0.03 vs the Multex consensus estimate of $0.07 per share.
16:10 ET Interwoven CEO resigns; updates guidance (IWOV) 1.85 +0.03: Co. announces John Van Siclen has resigned as president and CEO. Martin Brauns, Interwoven's Chairman, who served as its CEO from 1998 to 2002, will serve as interim CEO. Co. expects Q1 revenue in the range of $24.5 mln to $25.5 mln and net loss for the quarter is expected in the range of -$0.09 to -$0.10 per share -- Multex consensus estimates call for a net loss of $0.04 per share and revs of $29.5 mln.
16:09 ET Cognos Inc tops Q4 expectations, issues guidance (COGN) 23.72 +0.63: Reports Q4 (Feb) earnings of $0.33 per share, $0.06 better than the Multex consensus of $0.27 (EPS includes a $0.03 gain from a lower tax rate); revenues rose 14.6% year/year to $163.7 mln vs the $160.8 mln consensus. Expects Q1 EPS of $0.12-$0.14 on $146-$150 mln in revs, vs consensus of $0.14 and $147.0 mln.
16:07 ET JDA Software guides below consensus (JDAS) 10.39 +0.62: Company sees Q1 GAAP net loss of $0.08-0.09, not clear if this is comparable to Multex consensus of $0.08 profit, however company also sees Q1 revenues of $41 mln vs Multex consensus of $49.5 mln, so fairly clear that guidance is downside. JDAS cites weak economic conditions.
American POW Rescued, U.S. Official Says
7 minutes ago
WASHINGTON - An American prisoner of war has been rescued in Iraq (news - web sites), U.S. officials said Tuesday.
The officials, speaking on condition of anonymity, said U.S. Central Command was announcing the rescue in Qatar later Tuesday.
The Pentagon (news - web sites) has listed seven Americans as captured by Iraq since the outbreak of the war.
The officials said the rescue involved one of the seven.
The development came as American ground troops battled Republican Guard troops around Karbala, a holy Shiite Muslim city about 50 miles south of Baghdad. It was unknown whether the fighting was related to the POW situation.
Two U.S. Army pilots were captured March 24 by Iraqi forces after their Apache helicopter was forced down during heavy fighting in central Iraq. A day earlier, five U.S. Army soldiers had been captured near Nasiriyah, a crossing point over the Euphrates River.
The POWs were displayed on television by the Iraqis in separate broadcasts.
In addition to the POWs, the Pentagon's official tally of the number of Americans missing is 16.
http://story.news.yahoo.com/news?tmpl=story2&cid=540&ncid=71...
18:46 ET Swift Transportation guides below consensus (SWFT) 16.98 -0.52: Co sees Q1 earnings in the range of $0.07-$0.11 (Multex consensus $0.15). SWFT estimates that higher fuel prices (up $0.45/gallon from yr-ago), increased operating costs and bad weather will have an $0.08 impact on Q1 results.
18:42 ET Ethan Allen updating guidance to reflect weather, war (ETH) 30.34 -0.14: Co guides Q3 to a range of $0.51-$0.53 (Multex consensus $0.58). ETH attributes shortfall to severe winter weather, weakness in consumer confidence, and consumer concerns over the war issues. Earlier this month, ETH cautioned that bad weather would impact Q3 and Q4 results.
18:35 ET Textron provides specific guidance following last week's warning (TXT) 28.57 +0.07: Co now sees Q1 earnings of $0.51-$0.53 and full yr of $2.40-$2.60 vs previous guidance of $0.50 and $3.05, respectively. Last week, TXT announced it would be reducing guidance due to weaker Cessna Aircraft outlook, but did not give detailed guidance.
18:28 ET Kennametal cuts outlook (KMT) 31.07 +0.46: Manufacturer of tooling systems warns that Q3 earnings will come in between $0.33 and $0.35 (ex-items) -- Multex consensus $0.48. For the full yr, KMT sees EPS of $1.30-$1.40 (consensus $1.70). KMT blames a sharp decline in sales beginning in the middle of March.