Green Opening For Stocks
Stocks appear set to open higher
Tuesday.
Fleet Boston
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PowerRating) reported Q1
earnings of 70 cents a share, in line with analysts’ consensus. Revenues fell to
$3.3 billion, or 4%. The company also announced that it plans to sell Robertson
Stephens.
Stanley Furniture
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STLY |
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PowerRating) reported
net earnings of 54 cents a share, beating analysts’ estimates by 5 cents, but lower
than earnings for the same period a year ago of 59 cents.
Coca Cola
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KO |
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PowerRating) reported earnings of
40 cents a share for Q1, beating analysts’ consensus by 2 cents. Revenues rose to
$4.08 billion, or 3%.
Intel
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INTC |
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PowerRating) is scheduled to
report earnings after the close today.
Handspring
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HAND |
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PowerRating) was downgraded
by CIBC Worldmarkets from Buy to Hold based on the company’s continued extension
of time frames for rolling out new products.
Rockwell Collins
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COL |
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PowerRating) beat
estimates by 3 cents for Q2. The company reported earnings of 31 cents a share,
while Multex consensus was for 28 cents.
H&R Block
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HRB |
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PowerRating) was downgraded
from Market Outperform to Market Perform citing a decline in visibility in FY03.
Robertson Stephens initiated coverage
on Sorrento Networks
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FIBR |
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PowerRating) with a Buy rating.
Adelphia Communications
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ADLAC |
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PowerRating)
announced that it will delay the filing of the company’s 10-K once again.
Prudential Securities raised its
estimates on Novellus
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NVLS |
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PowerRating) for the June quarter from zero cents to 7
cents and reiterated its price target of $67.
JP Morgan lowered its rating on Exar
Corp
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EXAR |
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PowerRating) from Buy to Long Term Buy citing limited upside potential in
the near term due to weak fundamentals.
Bear Stearns upgraded Sonic Corp
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SONC |
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PowerRating)
from Neutral to Attractive based on potentially higher PE to growth ratios.