Flat To Lower Opening
Stocks appeared set to open flat
to lower
Tuesday ahead of the FOMC meeting this afternoon.
Novell
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filed a law suit against Microsoft
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attempting to shoot down the company’s Netware 6 release with disparaging and
false statements.
Compaq
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loss between 5 to 7 cents a share which is below analysts’ expectations of a 5
cent profit. The company sees sales coming in between $7.4 -$7.5 billion, a
decrease of about 34% and well below analysts estimates of $8.2 billion.
Abercrombie & Fitch
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Q3 profits will be flat in comparison with the same quarter a year ago, 43 cents
a share, but a penny shy of analyst estimates.
Defense contractor Raytheon
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said it will slash 750 more jobs in its aircraft unit by the end of the year.
America West Holdings
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Douglas Parker has given up the rest of his 2001 salary in light of the 2,000
job cuts the airline has begun.
Merrill Lynch downgraded publishing company
McGraw-Hill
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Credit Suisse First Boston downgraded
a number of Systems Integrators from Buy to Hold. Among those are Accenture
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PowerRating),
KPMG Consulting
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PowerRating), Tanning Tech
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PowerRating), Answerthink Inc
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and Lante Corp
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PowerRating).