Broader Markets To Open Higher
Stocks appeared set to open higher
Friday as we come to the close of a shortened work week.
According to a report in the Wall
Street Journal, Qwest
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PowerRating) faces a criminal probe by the Justice
Department over the company’s accounting practices, which comes in the
midst of a regulatory probe already in progress.
AstraZeneca
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PowerRating) said it has received
approval to sell its drug Iressa in Japan. The drug is used for treatment of inoperable or recurrent non-small-cell lung cancer.
Multimedia Games
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PowerRating)
reaffirmed guidance for FY02 of earning between $1.60 to$1.40 a share. The
reaffirmation came in response to an unnamed columnist’s comments.
Web Methods
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PowerRating) warned for Q1.
The company sees revenues of between $47 million to $48 million and a pro forma
net loss of between 3 cents to 5 cents a share. Multex consensus was for
revenues of $49.8 million and a breakeven quarter.
Merrill Lynch downgraded
XM Satellite
Radio
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PowerRating) from Buy to Near Term Neutral and Sirius
(
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PowerRating) from
Neutral/Buy to Near Term Reduce-Sell/Long-Term Neutral.
Morgan Stanley said that
Cubist
Pharmaceuticals
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PowerRating) should get a boost from its drug Cidecin, due to a
report from the CDC of the first case of Vancomycin-resistant staph aureus (VRSA)
which can be a major medical problem. Cidecin may provide the cure to treat VRSA.