Flat To Lower Opening

Stocks appeared set to open flat to
lower Tuesday.

In what use to be called the Humphrey-Hawkins Testimony, Federal Reserve Board Chairman Alan Greenspan will be
speaking to Capitol Hill with regard to the state of the economy. 

Lucent Technologies
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announced
that it will be cutting its workforce by another 15k to 20k workers.

Honeywell International
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beat
analysts’ expectations by 2 cents a share. The company reported earnings of 55
cents, analysts polled by Thomson Financial/First Call were expecting an average
Q2 operating earning of 53 cents. 

Texas Instruments
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Q2
earnings came in a 3 cents a share. According to a consensus taken by Thomson
Financial/First Call, analysts’ were expecting earnings for the company to be 4
cents.

FEI Company
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reported Q2
earnings of 39 cents ahead of Wall Street expectations by a nickel. Earnings
increased by 63%.

Quest Diagnostics
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earned 52
cents a share for Q2 beating analysts’ expectations by 4 cents. According to a
survey taken by Thomson Financial/First Call, Wall Street was expecting the
company to earn 48 cents for the quarter.

Lincair Holdings
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reported
earnings of 32 cents a share in line with analysts’ expectations. Revenues
increased 18% over the same quarter a year ago.

Laboratory Corporation of America
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announced the company earned 74 cents beating analysts’ expectations by 4 cents.
The company credits the successful quarter due to increase demand for diagnostic
tests and strong pricing for the industry.

Ametek
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reported earning for
Q2 of 56 cents a share. The electronic instrument and motor maker met analysts’
expectations. Sales for the company increased 2.3% for the quarter.

Cirrus Logic
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announced Q1
earnings of 10 cents falling short of analysts’ expectations. Analysts were
looking for the company to earn between 8 cents to 14 cents, with an average
estimate of 11 cent according to research firm Thomson Financial/First Call.

Computer Associates
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posted
earnings of 55 cents a share for Q1. Earnings beat analyst’s expectations
by 7 cents. The company also stated that they expect to beat Q2 estimates.

Dentsply International
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exceeded analysts’ Q2 earnings by a penny. According to Thomson Financial/First
Call, analysts’ expected the company to earn 51 cents a share.

American Electric Power
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said
it earned 89 cents a share, beating analysts’ mean estimates of 78
cents
according to a survey taken by the research firm Thomson Financial/First
Call. 

Jack Henry
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was upgraded by
First Union to a Strong Buy from Buy.

According to a report by Reuters Securities, 
Lucent Technologies
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said it will sell its fiber-optic unit to Japan’s
Furukawa Electric Co. and Corning
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for $2.75 billion.

Brocade Communications
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was
upgraded by Morgan Stanley Dean Witter from Neutral to Outperform.

 

 

 

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