Broader Markets To Open Lower On Oil Concerns
Stocks appeared set to open lower
Monday.
Bear Stearns upgraded Bank of America
(
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PowerRating) from Neutral to Attractive and raised the price target on BAC from $66
to $75. The firm on a similar note raised 2003 estimates for Bank One
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PowerRating)
from $3.05 to $3.42, while analysts’ consensus was for $3.14 a share.
Lehman Brothers upgraded Sycamore
Networks
(
SCMR |
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PowerRating) from Market Perform to Strong Buy and put a price target on
the company of $5.50.
Saba Software
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PowerRating) said that
Amazon.com
(
AMZN |
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PowerRating) has increased the access of Saba3 Release 4 for its
global workforce.
Credit Suisse First Boston upgraded Linens
‘n Things
(
LIN |
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PowerRating) from Hold to Buy on the belief of accelerating growth
for the company. The firm has a price target of $38 for LIN.
Iraqi President Saddam Hussein has
suspended oil sales for 30 days as a protest of the Israeli offensive against
the Palestinians.
Computer Associates
(
CA |
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PowerRating) updated
guidance for Q1 and sees GAAP revenues to meet guidance of $770 million.
Ameritrade
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AMTD |
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PowerRating) announced that
it plans to purchase Datek Online Holding in a deal worth approximately $1.3
billion.
Kenneth Cole
(
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PowerRating) raised Q1 from
a range of 16 to 18 cents a share to 26 cents a share and for Q2 earnings and Q2
estimates from 10 to 12 cents a share to 14 to 16 cents a share.