Broader Markets To Open Lower
Stocks appear set to open lower
Monday as telecom woes continue to weigh heavily on the broader markets.
Lucent Technologies
(
LU |
Quote |
Chart |
News |
PowerRating) said
it has signed a three-year agreement with Verizon
(
VZ |
Quote |
Chart |
News |
PowerRating) to expand the use of Dense
Wavelength Division Multiplexing technology within Verizon’s inter-office core
network in the United States.
Lexmark
(
LXK |
Quote |
Chart |
News |
PowerRating) reported Q1 net of
53 cents a share, beating analysts’ estimates by 5 cents a share. Revenues for the
company rose to $1.05 billion, or 6%, vs. consensus of $1.01 billion.
Pixar Animation
(
PIXR |
Quote |
Chart |
News |
PowerRating) and
Disney
(
DIS |
Quote |
Chart |
News |
PowerRating) announced their next three movies to be made are “Finding Nemo” due
out in the summer of 2003, “The Incredibles” scheduled for release
during the holiday season in 2004 and “Cars” for the 2005 holiday
season.
HCA Healthcare
(
HCA |
Quote |
Chart |
News |
PowerRating) reported Q1
earnings of 76 cents a share which came in 4 cents higher than Multex consensus.
Lear Corp
(
LEA |
Quote |
Chart |
News |
PowerRating) posted Q1 earnings
of 70 cents a share, beating analysts’ estimates of 60 cents a share according to
a survey taken by Multex. The company also reaffirmed guidance for Q2 and 2002.
Goldman Sachs downgraded America West
(
AWA |
Quote |
Chart |
News |
PowerRating) from Market Outperform to Market Perform citing that revenue recovery
will be slower than previously anticipated.
3M
(
MMM |
Quote |
Chart |
News |
PowerRating) reported earnings for Q1
of $1.23 a share. Analysts surveyed by Multex were expecting $1.19 a
share.
Anadigics
(
ANAD |
Quote |
Chart |
News |
PowerRating) posted a loss of
37 cents for Q1, beating analysts’ consensus of a loss of 38 cents according to a
survey taken by Multex.
Credit Suisse First Boston cut its
ratings on Worldcom
(
WCOM |
Quote |
Chart |
News |
PowerRating) from Hold to Sell and
Sprint FON|FON] and
Broadwing
(
BRW |
Quote |
Chart |
News |
PowerRating) from Buy to Hold.
Agere Systems
(
AGR |
Quote |
Chart |
News |
PowerRating) will spin-off from Lucent Technologies
(
LU |
Quote |
Chart |
News |
PowerRating) on June 1, 2002.
Credit Suisse First Boston downgraded Manhattan
Associates
(
MANH |
Quote |
Chart |
News |
PowerRating) from Buy to Hold due to valuation.