Broader Markets Look To Open Weak
Stocks appear set to open lower
Tuesday.
Myriad Genetics
(
MYGN |
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PowerRating) and Abbott
Laboratories
(
ABT |
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PowerRating) have entered a discovery collaboration to identify novel
genes and drugs that help diagnose and treat depression.
Lucent Technologies
(
LU |
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PowerRating) said it
will delay the spin-off of Agere, saying the company cannot use the results of
Q2 EBITDA performance after they lowered guidance for said quarter.
Maxwell Shoes
(
MAXS |
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PowerRating) said that
Q1 earnings increased by 11%. The company reported a net income of $2 million, or
20 cents a share, compared with $1.8 million, or 18 cents a share.
Sang Stat
(
SANG |
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News |
PowerRating) said that a
comparative study in kidney transplant patients treated with the company’s
Thymoglobulin showed better results than those patients treated with Simulect, a
rival treatment.
Immunomedics
(
IMMU |
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News |
PowerRating) was
downgraded by UBS Warburg from Buy to Hold based on valuation.
Avaya
(
AV |
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News |
PowerRating) has selected Nuance’s
(
NUAN |
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PowerRating)
speech recognition software to provide speech capabilities in AV’s
Advanced Speech Access application.
Cognos
(
COGN |
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Chart |
News |
PowerRating) was upgraded by
Goldman Sachs from Market Outperform to Recommended List based on improving
fundamentals.
Pitney Bowes
(
PB |
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Chart |
News |
PowerRating) was downgraded by
DB Alex Brown from Buy to Market Perform based on valuation.
DB Alex Brown upgraded Sprint PCS
(
PCS |
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Chart |
News |
PowerRating)
from Market Perform to Buy based on valuation. The firm said PCS could
potentially trade at $19-$24 in the next 12 months.