Broader Markets Look To Open Flat To Higher
Stocks appear set to open flat to higher
Wednesday.
Claire Stores
(
CLE |
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PowerRating) reported same-store sales fell 3% in January. However, the retailer raised its Q4 earnings
guidance to come in between 57 cents and 58 cents a share. Analysts’ consensus is for 52 cents.
Marshall & Isley
(
MI |
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PowerRating) will be
added to the S&P 500 index as of the close of Friday.
Coventry Health Care
(
CVH |
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PowerRating)
reported an increase in profits for Q4. The company’s net income rose to $22.9
million, or 34 cents a share, compared with $20.9 million, or 24 cents a share, a
year ago. Analysts polled by Thomson Financial/First Call were expecting the
company to earn 32 cents a share.
Pepsi Co
(
PEP |
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PowerRating) said Q4 profits
rose to $764 million, or 42 cents a share, vs. $656 million, or 36 cents a share,
for the same quarter a year ago, an increase of 16%. Earnings came in line with
analysts’ consensus according to tracking firm Thomson Financial/First Call.
Express Scripts
(
ESRX |
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PowerRating) said it
will buy National Prescription Administrators, a privately held company, for $514
million. The company believes this acquisition will enhance its exposure in the
Northeast.
Geron Corp
(
GERN |
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PowerRating) was granted an
animal cloning patent from the European Patent Office. GERN is the company
which owns the technology that cloned Dolly the sheep.
Imagistics International
(
IGI |
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PowerRating)
posted a Q4 loss of $200,000, or 1 cent a share, compared to $13 million, or 65
cents a share, for the same quarter a year ago.
Bell South Corp
(
BLS |
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PowerRating) said it will
buy services from Qwest Communications International
(
Q |
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PowerRating) for $350 million over
a four-year period. This will help expand BLS’s services.
Univision Communications
(
UVN |
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PowerRating)
posted Q4 earnings of $10.9 million, or 5 cents a share, vs. $34.9 million, or
15 cents weaker than expected. Revenues slid 2% for the quarter.
According to a report on CNBC, Cisco
Systems
(
CSCO |
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News |
PowerRating) announced that it will exceed earnings estimates for Q2 due
to the inadvertent distribution of a memo citing earnings projections to a
significant number of employees. CSCO is schedule to report earnings after the
close today.
Insurer Allstate Corp
(
ALL |
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Chart |
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PowerRating)
reported earnings of 37 cents a share, or $264 million, compared to 74 cents a
share, or $547 million, for the same quarter a year ago. The decline was due to
restructuring and a rise in claims.