| To: ziad daoudi who wrote (19) | 7/11/1998 10:10:00 PM | | From: Steven Luper | | | | |
Anyone interested in reviving the discussion of Syke? There's a STOCKWINNERS rumor that the stock will beat estimates on its next earnings report. The stock is already beaten down. Seems like it might be a good opportunity. Anyone? |
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| To: JGreg who wrote (21) | 1/14/1999 1:15:00 PM | | From: Marty | | | |
Just read a great review on the company in yesterday's Investor Business Daily and picked up some shares because of it. Noticed that the stock is up 10 points or about 33% since it was downgraded in Feb. '98.
Outsourcing is a great way to save money and it is clearly a trend for the future. (I also have some Fidelity Select Business Services and Outsourcing mutual fund that has done very well.) This has been an overlooked opportunity, which could be a good indicator for future upside. It is clear from the article that they can perform the services a lot better than the client companies.
It is a very similar situation to Solectron (another holding of mine) that expanded from just an assembly source to also provide, R & D, shipping, billing, collection and so on. You can have an idea and, say, a website and SLR will determine how to make your product, manufacture it, sell it, pack and ship it, bill it and collect the bills for you. All you have to do is get the idea and cash your checks. SYKE could provide additional services as well. That kind of expertise usually spreads like water on a blotter. |
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| To: Robert Scott who wrote () | 1/25/2000 6:52:00 PM | | From: kendall harmon | | | |
SYKE, overdone today and looking for a bounce tomorrow
<<Tampa, Florida, Jan. 25 (Bloomberg) -- Sykes Enterprises Inc.
shares fell 51 percent after the operator of call centers for
computer makers and Internet service providers said it would miss
analysts' fourth-quarter earnings estimates.
The shares fell 24 1/4 to a 52-week closing low of 23 on the
Nasdaq National Market, reducing Sykes' market value by about
$1 billion, to $974 million. Tampa, Florida-based Sykes had the
biggest percentage decline of any stock in U.S. markets.
Sykes warned that it expects to report fourth-quarter profit
of 20 cents to 22 cents a share, less than the 37-cent average
forecast of analysts polled by First Call/Thomson Financial. In
the year-earlier quarter, it earned 28 cents a share. Sykes also
said it expects fourth-quarter revenue of $160 million to
$162 million, up from $142 million a year earlier.
``This is very disappointing, there is no doubt about it, and
that's why the stock has taken such a hit,' said Stephen Shook,
an analyst at Wachovia Securities. ``The stock isn't worth half of
what it was. This thing is a little overdone.'
Two other analysts cut their ratings on Sykes today. Shook
said he downgraded the stock to ``neutral' from ``strong buy'
last week because he thought the shares, which had risen
61 percent in the past year as of yesterday, wouldn't gain more.
Sykes runs 38 call centers that provide technical support for
customers of companies such as Microsoft Corp., Apple Computer
Inc. and International Business Machines Corp.
Surprised by Shortfall
Sykes blamed foreign-currency transactions, training and
development costs for new contracts, and a unit that didn't meet
expectations. The earnings shortfall would be the company's first
since it sold shares to the public in 1996.
``We're extremely disappointed in the need to recast our
numbers for the fourth quarter,' said Sykes Chairman and Chief
Executive John H. Sykes in a teleconference. ``We were surprised
at the magnitude of this situation."
The company expects to earn 40 cents a share in the first
quarter, 10 cents more than the average forecast of seven analysts
polled by First Call, as it expects to get about $10 million from
delayed contracts, said Chief Financial Officer Scott Bendert. He
said Sykes this year expects to earn as much as $1.59, or 8 cents
more than the First Call average forecast.
Fourth-quarter revenue was reduced by $4 million because of
the euro's fall against the dollar, which made currency conversion
more expensive, and another $4 million because of problems at
Sykes' SHPS Inc. unit, Shook said. SHPS runs call centers for
health-care providers, he said.
Sykes officials didn't provide more information in a
statement or answer questions about reasons for the earnings
shortfall during its teleconference. Company officials didn't
return phone calls seeking comment.
The company has 14,000 workers in the U.S., Canada, Europe,
Africa and Central America. Its 1998 revenue was $469.5 million. |
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| To: John Ritter who wrote (28) | 2/7/2000 6:20:00 PM | | From: Ken M | | | |
(COMTEX) B: Milberg Weiss Announces Class Action Against Sykes Enterp
B: Milberg Weiss Announces Class Action Against Sykes Enterprises, Inc.
NEW YORK, Feb 7, 2000 (BUSINESS WIRE) -- The following was announced
today by the law firm of Milberg Weiss Bershad Hynes & Lerach LLP:
Notice is hereby given that a class action lawsuit was filed on
February 2, 2000, in the United States District Court for the Middle
District of Florida, Tampa Division, on behalf of all persons who
purchased the common stock of Sykes Enterprises, Inc. ("Sykes" or the
"Company") (Nasdaq: SYKE) between Oct. 25, 1999, and Jan. 31, 2000,
inclusive (the "Class Period").
If you wish to discuss this action or have any questions concerning
this notice or your rights or interests with respect to these matters,
please contact, Milberg Weiss Bershad Hynes & Lerach ("Milberg Weiss"),
in Boca Raton: Kenneth Vianale or Maya Saxena at 5355 Town Center Road,
Suite 900, Boca Raton, Florida 33486, by telephone (561) 361-500, or in
New York: Steven G. Schulman or Samuel H. Rudman at One Pennsylvania
Plaza, 49th Floor, New York, New York 10119-0165, by telephone
1-800-320-5081 or via e-mail: endfraud@mwbhlny.com or visit our website
at www.milberg.com.
The complaint charges Sykes and certain of its senior officers and
directors with violations of Sections 10(b) and 20(a) of the Securities
Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The
complaint alleges that defendants issued a series of materially false
and misleading statements concerning the Company's financial condition,
revenues and earnings. The complaint further alleges that on February
1, 2000, the Company announced that it would be forced to delay the
release of fourth quarter earnings because its audit was "incomplete."
In response, the stock fell nearly 33% on unusually large trading
volumes of over 11,000,000.
Plaintiff seeks to recover damages on behalf of class members and is
represented by the law firm of Milberg Weiss, and others. Milberg Weiss
maintains offices in New York City, San Diego, Los Angeles, San
Francisco and Boca Raton and is active in major litigations pending in
federal and state courts throughout the United States. Milberg Weiss
has taken a leading role in numerous important actions on behalf of
defrauded investors, and is responsible for a number of outstanding
recoveries which, in the aggregate, total approximately $2 billion. For
more information about Milberg Weiss, please visit our website at
www.milberg.com.
If you are a member of the class described above you may, not later
than sixty days from Feb. 2 move the Court to serve as lead plaintiff
of the class, if you so choose. In order to serve as lead plaintiff,
however, you must meet certain legal requirements.
Copyright (C) 2000 Business Wire. All rights reserved.
Distributed via COMTEX.
-0-
CONTACT: Milberg Weiss Bershad Hynes & Lerach LLP
Boca Raton Office
Kenneth Vianale/Maya Saxena
561/361-5000
New York Office
Shareholders Services Dept.
800/320-5081
E-Mail: endfraud@mwbhlny.com
TICKERS: NASDAQ:SYKE
WEB PAGE: businesswire.com
GEOGRAPHY: NEW YORK FLORIDA
INDUSTRY CODE: LEGAL/LAW
CLASS
ACTION
LAWSUITS
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
*** end of story *** |
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