Broader Markets Look Strong
Stocks appear set to resume
their bull
move from Friday as early indications Monday point to a higher opening.
Merrill Lynch lowered its rating on
Oracle
(
ORCL |
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PowerRating) from Buy to Near Term Neutral after the company issued a
warning Friday night.
Housing and construction company Toll
Brothers
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Roxio Inc
(
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agreement with Audible Inc
(
ADBL |
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capabilities to Audible’s service.
News Corp
(
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PowerRating) said US
advertising in Q1 grew between 4% and 5%. The company cited ad sales improving all around.
Consolidated Graphics
(
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PowerRating) named
Christopher Colville as chief financial officer.
Luminex Corp
(
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PowerRating) said that
Frank Reeves, the company’s chief financial officer, has left his position after
being in the job for less than a year.
Northrop Grumman
(
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PowerRating) launched a
hostile bid for TRW Corp
(
TRW |
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PowerRating) after TRW said the offer for the company was
undervalued.
UBS Warburg downgraded Home Depot
(
HD |
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PowerRating)
and Loews Corp
(
LOW |
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PowerRating) from Strong Buy to Buy, stating the companies should not
be able to surprise the markets with any earnings surprises.
Merrill Lynch upgraded King
Pharmaceuticals
(
KG |
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PowerRating) from Buy to Strong Buy, stating the company is a good
value.
Moody’s downgraded Computer Associates
(
CA |
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PowerRating) debt from Baa1 to Baa2. JP Morgan views Moody’s quick downgrade as a
surprise.
JP Morgan upgraded General Motors
(
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PowerRating)
from Market Perform to Buy based on strength in the light-vehicle markets in the
United States.
eBay
(
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PowerRating) was upgraded by DB
Alex Brown from Buy to Strong Buy after the recent sell-off and maintains its
price target of $80.00.