Broader Markets To Open Mixed
Stocks appear set to open mixed
Tuesday.
Worldcom
(
WCOM |
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Chart |
News |
PowerRating) was downgraded by
UBS Warburg from Buy to Hold due to growth concerns for 2002. The firm also
lowered its price target on WCOM from $12 to $6 for the next 12 months.
The Federal Bureau of Investigation
has procured Akamai’s
(
AKAM |
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Chart |
News |
PowerRating) EdgeSuite to help improve
the firm’s site
performance and efficiency.
RedHat Inc
(
RHAT |
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Chart |
News |
PowerRating) introduced a
new powerful server product geared to large enterprises. The company sees this
as a sweet spot for its business.
Labor unions for Royal Philips
Electronics
(
PHG |
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News |
PowerRating) said they plan to go on strike beginning Thursday, on the
same day as the company’s shareholders meeting.
Biomet
(
BMET |
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Chart |
News |
PowerRating) said it plans to
repurchase stock. The company said it plans a repurchase up to $100 million.
Fast food chain Jack-In-The-Box
(
JBX |
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Chart |
News |
PowerRating)
reaffirmed Q2 and full-year earnings.
Network Associates
(
NET |
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Chart |
News |
PowerRating) confirmed
that the SEC has begun a “Formal Order of Private Investigation” into
the company’s accounting practices.
Travelocity.com
(
TVLY |
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Chart |
News |
PowerRating) said it
will acquire Site59.com for $43 million in cash.
Morgan Stanley issued some positive
comments on Agilent Technology
(
A |
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Chart |
News |
PowerRating), saying the company could hit $50 a share in
a 12-month time frame due to earnings power, cash flow growth and new products.
The firm raised its price target for A from $37 to $42.
Applied Materials
(
AMAT |
Quote |
Chart |
News |
PowerRating) was
downgraded by Gerard Klauer Mattison from Buy to Neutral based on the fact that
AMAT is approaching the firm’s price target of $55.
JP Morgan upgraded the US Auto Stocks
to Market Weight.
DB Alex Brown upgraded Intersil
(
ISIL |
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Chart |
News |
PowerRating)
from Buy to Strong Buy, citing the stock is a good value after the recent sell-off.