Broader Markets To Open Lower
Stocks appear set to open lower
Monday.
Finisar
(
FNSR |
Quote |
Chart |
News |
PowerRating) was downgraded by
JP Morgan from Long Term Buy to Market Perform. The firm cited concerns that it
will take FNSR more time to become profitable.
Salomon Smith Barney downgraded
Eastman Kodak
(
EK |
Quote |
Chart |
News |
PowerRating) from Outperform to Neutral based on the fact that EK is
nearing the firm’s price target.
Bear Stearns upgraded Network
Associates
(
NET |
Quote |
Chart |
News |
PowerRating) from Neutral to Attractive.
JP Morgan upgraded Cablevision
(
CVC |
Quote |
Chart |
News |
PowerRating)
from Long Term Buy to Buy based on valuation.
Robertson Stephens downgraded Fiserv
(
FISV |
Quote |
Chart |
News |
PowerRating)
from Buy to Market Perform based on beliefs that outsourcing is due for a
cyclical slowdown.
UBS Warburg upgraded Teva
Pharmaceuticals
(
TEVA |
Quote |
Chart |
News |
PowerRating) and Alpharma
(
ALO |
Quote |
Chart |
News |
PowerRating) from Hold to Strong Buy and
Ivax
(
IVX |
Quote |
Chart |
News |
PowerRating) and Mylan Labs
(
MYL |
Quote |
Chart |
News |
PowerRating) from Hold to Buy. The firm
states that
valuation may have bottomed and that the outlook for 2003 is improving.
Robertson Stephens upgraded Affiliated
Computer Systems
(
ACS |
Quote |
Chart |
News |
PowerRating) from Market Perform to Buy after the company
announced that it would acquire FleetBoston’s loan and public sector processing
business. The firm has a price target of $65 on the company.
XOMO Limited
(
XOMA |
Quote |
Chart |
News |
PowerRating) reported
positive Phase I results for the company’s Human Engineered monoclonal antibody
which is used in patients with solid tumors.
The Limited
(
LTD |
Quote |
Chart |
News |
PowerRating) reported Q1
earnings of 10 cents a share, in line with analysts’ estimates according to Multex.
The company also reaffirmed guidance for Q2 of 8 cents a share.
Do-it-yourself home-improvement chain Lowes
(
LOW |
Quote |
Chart |
News |
PowerRating) posted a Q1 net of 44 cents a share, 8 cents better than
analysts’ consensus according to a survey taken by Multex.
Protein Design Labs
(
PDLI |
Quote |
Chart |
News |
PowerRating)
reported disappointing Phase III trials for Zamyl which is used for
treating patients with myeloid leukemia after failure with chemotherapy or if the patient has a relapse after chemo.