Broader Market To Open Higher
Stocks appear set to open higher
Tuesday.
Morgan Stanley upgraded Microchip
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from Equal Weight to Overweight after the company raised guidance yesterday
evening. The firm also raised its price target on the company from $52 to $55.
Goldman Sachs said that certain
Internet stocks are “safe havens.” The firm said eBay
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Overture Services
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Amazon.com
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and Expedia
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PowerRating) are attractive near-term investments due to the upside
potential and earnings visibility.
Sharper Image
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PowerRating) reported an
18% increased in March same-store sales. With the strong sales, the company now
expects a narrower loss for Q1, between 4 cents and 8 cents a share.
Analysts surveyed by Multex were expecting a loss of 19 cents for the quarter.
Hot Topic
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PowerRating) same-store sales
rose 1.2% for March.
Robertson Stephens lowered estimates
for a number of stocks in the storage sector. Brocade Communications
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PowerRating),
EMC
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PowerRating), Legato
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PowerRating),
McData
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PowerRating), Network Appliances
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PowerRating),
QLogic
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PowerRating) and Veritas Software
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PowerRating).
Abbot Laboratories
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PowerRating) posted a
Q1 net of 54 cents a share, in line with analysts’ estimates. The firm also
provided guidance for Q2 of 53 cents a share. Analysts surveyed had a consensus
of 55 cents a share for Q2.
Credit Suisse First Boston thinks that
the positive guidance which JDA Software
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Retek
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PowerRating).
Abercrombie
& Fitch
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PowerRating) posted
an increase in March same-store sales by 2%.
Safeco
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PowerRating) was upgraded by
Lehman Brothers from Market Perform to Strong Buy based on valuation.
Muffler maker Monro Muffler
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PowerRating)
raised Q4 estimates to come in between 20 and 21 cents a share vs. consensus
of 19 cents.
Soap maker Dial Corp
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PowerRating) raised Q1
earnings estimates to come in between 24 cents to 25 cents a share compared with
consensus of 19 cents a share.