Broader Markets To Open Stronger
Stocks appear set to open higher
Friday.
Credit Suisse First Boston recommends
aggressive buying of MedImmune
(
MEDI |
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PowerRating) after the company slid more than 10%
over concerns of the company’s drug FluMist.
Concord Communications
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PowerRating)
posted Q1 pro forma earnings of 2 cents a share, beating analysts’ estimates by 2
cents according to a survey taken by Thomson Financial/First Call.
Credit Suisse First Boston upgraded
EGL Inc
(
EAGL |
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PowerRating) from Hold to Buy, citing the company’s cost-cutting
strategies and merger integration are looking up.
UBS Warburg raised estimates on
General Motors
(
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PowerRating) for 2002 from $3.65 to $4.60 and 2003 to $5.80 from
$5.10. The firm reiterated its Buy rating on GM also.
Banc of America lowered its price
target on Genentech
(
DNA |
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PowerRating) from $53 to $45 and cut estimates
from 2003 to
$1.05 from $1.10, citing risks with the company’s Avastin.
Bear Stearns downgraded Checkpoint
Systems
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CKP |
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PowerRating) from Attractive to Neutral based on valuation after the stock
broke the firm’s price target of $16.
Retail sales up .2%, which is less than
expected. Ex-auto up .4%
Producer Price Index for
March was up 1%, which is more than expected. The Core rate increased .1%.