3Com (NDAQ:COMS) reported a Q2 loss of $0.01 per share, including restructuring, amortization and stock-based compensation expense of $20 million, or $0.05 per share. The consensus stood at $0.00.

Ultratech Inc. (NDAQ:UTEK) lowered their guidance today. The company currently expects revenue to be down 25% to 30% sequentially from the third quarter 2006 compared to earlier guidance of revenue being down 8% to 10% sequentially as of October 2006. Q4 EPS is expected to be between $0.25 to $0.30 share. This compares with earlier guidance of $0.10 to $0.15 per share.

PMC-Sierra, Inc. (NDAQ:PMCS) now expects revenues for the fourth quarter to be between $100 to $105 million. The company's previous outlook was for a revenue range of $105 million to $112 million. The consensus stands at $108.9 million.

Cognos (NDAQ:COGN) reported Q3 EPS of $0.48 today - five cents better than estimates. Revenues were $247.8 million versus $241.11 million consensus. They predict Q4 revenues of $270 to $280 million versus the consensus of $276.4 million. They also foresee FY07 Non-GAAP EPS of $1.64 to $1.70 versus the consensus of $1.61. FY07 revenues are aimed to be around $965 to $975 million versus the consensus of $964.3 million.

Accenture (NYSE:ACN) reported Q1 EPS of $0.46, $0.04 cents better than estimates. Revenues were $4.75 billion versus $4.51 billion consensus. The company foresees Q2 revenues of $4.6 to $4.8 billion versus the consensus of $4.49 billion, while they raised their FY07 EPS outlook to $1.80 to $1.85, up from its previously expected range of $1.77 to $1.82. The consensus currently stands at $1.83.

Anheuser-Busch Cos. Inc. (NYSE:BUD) said its Board of Directors has approved a new, more aggressive leverage target to enhance shareholder value. The company intends to modestly increase leverage and reduce its cash flow to total debt target from the previous 30% to 40% range to the 25% to 30% range. In conjunction with the more aggressive leverage target, the Board of Directors of Anheuser-Busch Cos. Inc. has approved a new 100 million share repurchase program.

PHC, Inc., d.b.a. Pioneer Behavioral Health (OTCBB:PIHC) has finalized a contract with Behavioral Healthcare Options (BHO), a subsidiary of Sierra Health Services, Inc. (NYSE:SIE). The contract calls for Pioneer to operate four clinics in the BHO network in Las Vegas and northern Arizona, effective January 1, 2007. The contract is valued at $80 million, with an initial term of 10 years, or approximately $8 million annually. The contract more than doubles Harmony's annual revenues, from $5 million to approximately $13 million. The contract is expected to be accretive to the company during the first year of deployment.

M & F Worldwide Corp. (NYSE:MFW) and John H. Harland Company (NYSE:JH) announced that they have entered into a definitive merger agreement for M & F Worldwide to acquire Harland for $52.75 per share in cash, representing an approximate transaction value of $1.7 billion.

FedEx Corporation (NYSE:FDX) reported Q2 EPS of $1.64 versus the consensus of $1.76. Revenues came in at $8.93 billion versus the consensus of $8.91 billion, with Q3 EPS of $1.20 to $1.35 versus the consensus of $1.55. They foresee a Q4 EPS of $1.98 to $2.13.

CarMax Inc. (NYSE:KMX) reported Q3 EPS of $0.42, versus the consensus of $0.25. Revenues came in at $1.77 billion versus the consensus of $1.63 billion, with FY EPS of $1.75 to $1.85, versus the consensus of $1.55 to $1.65; the consensus stands at $1.64.