The Stocks Wall Street Is Watching
The following stocks may be
impacted due to significant news as noted:
Auto giant and Dow component General Motors
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has been downgraded by Merrill Lynch to “neutral” from “buy” due primarily to
industry fundamentals.
Hotel company Marriott International
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is the subject of a negative New York Times article which cites that investors
and industry analysts are becoming increasingly concerned with the company’s
off-balance-sheet entity called CBM Joint Venture.
Defense contractor Raytheon
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received positive comments in a Barron’s article over the weekend, which claims
the company has strong earnings potential in the future.
The country’s oldest bank, Bank of New York
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received negative comments in a Barron’s article over the weekend, which claimed
the company’s credit issues are not going away, and the stock has more room to
fall.
Communications equipment maker ADTRAN
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has beat its third-quarter earnings expectations by $0.02, with profits of $0.27
per share.
Biotech company Chiron
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its earnings guidance for the third quarter as it expects profits of $0.45 per
share vs. the First Call consensus of $0.32 per share.