Broader Markets Set To Open Mixed
Stocks appear set to open mixed to
lower Tuesday.
According to a report by Reuters last
night, California officials have reached an agreement with five power generators
to cut prices on their long-term electric contracts. The cuts will save the
state $3.5 billion. New contracts were negotiated with Calpine
(
CPN |
Quote |
Chart |
News |
PowerRating) and
Constellation Energy Group
(
CEG |
Quote |
Chart |
News |
PowerRating).
Nokia
(
NOK |
Quote |
Chart |
News |
PowerRating) and
Texas Instruments
(
TXN |
Quote |
Chart |
News |
PowerRating) have announced a deal to develop the Series 60 Platform for phones
which are licensed to Nokia.
Noble Affiliates
(
NBL |
Quote |
Chart |
News |
PowerRating) reported a
loss of 26 cents a share, beating analysts’ consensus of a loss of 29 cents a
share. Revenues for the company fell to $317.7 million, or 43.4%, falling short
of the consensus of $322.0 million.
Fiserv
(
FISV |
Quote |
Chart |
News |
PowerRating) reported Q1
earnings of 33 cents a share, beating analysts’ estimates by a penny according to
a survey taken by Multex.
The Semiconductor Equipment Book/Bill
ratio jumped to 1.04 for the month of March as bookings rose from $737.2 million
to $838.8 million.
ST Microelectronics
(
STM |
Quote |
Chart |
News |
PowerRating) met
analysts’ earnings estimates of 4 cents a share according to a survey taken by
Multex. Revenues on the other hand slid 29.4% on a year-over-year basis to $1.35
billion. Analysts’ consensus was for $1.37 billion in revenues.
FEI Company
(
FEIC |
Quote |
Chart |
News |
PowerRating) reported
earnings of 20 cents a share for Q1, a penny shy of analysts’ consensus according
to a survey taken by Multex.
Schering-Plough
(
SGP |
Quote |
Chart |
News |
PowerRating) received
support from the U.S. advisory panel for the company’s over-the-counter product
Claritin.
Akzo Nobel NV
(
AKZOY |
Quote |
Chart |
News |
PowerRating) posted
earnings that beat expectations for Q1. Earnings came in at .82 euros, up
from .75 euros for the same quarter a year ago. Analysts’ forecasts were for .77
euro.
AutoNation
(
AN |
Quote |
Chart |
News |
PowerRating) said earnings came
in at 28 cents a share vs. the company’s February guidance of between 20 to
22 cents a share for Q1. AN now sees earnings for 2002 to come in the range of
$1.12 to $1.15 with Q2 earnings between 28 to 30 cents a share.