Higher Opening
Stocks appear set to open higher
Wednesday.
Toll Brothers
(
TOL |
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PowerRating) posted Q4 net of $1.84 a share, beating analysts’ estimates by 20 cents and earnings for the
same quarter a year ago of $1.52.
Health South Corp.
(
HRC |
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PowerRating) offered
guidance for 2002 and sees Q1 earnings of 22 cents a share with an FY02 net of
94 cents. Analysts’ consensus was for 23 cents and 95 cents.
Lehman Brothers upgraded drug maker
Eli Lilly
(
LLY |
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PowerRating) from Buy to Strong Buy.
Morgan Stanley upgraded Comverse
Technologies
(
CMVT |
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PowerRating) from Neutral to Outperform, while Merrill Lynch
downgraded the company from Neutral to Near Term Reduce/Sell.
Invacare Corp.
(
IVC |
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PowerRating) lowered its
earnings outlook for Q4 to come in between 42 cents – 45 cents. Analysts’
consensus was for 61 cents a share.
Salomon Smith Barney upgraded Veritas
Software
(
VRTS |
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News |
PowerRating) from Outperform to Buy and raised its price target from $40
to $56.
Nokia
(
NOK |
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PowerRating) and Check Point
Software
(
CHKP |
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PowerRating) announced a broader alliance between the two companies in
the engineering and innovation areas.
Michael Stores
(
MIKE |
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News |
PowerRating) will begin
trading on the New York Stock Exchange today under the new symbol of
(
MIK |
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PowerRating).
Celera Genomics
(
CRA |
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PowerRating) and drug
giant Merck
(
MRK |
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News |
PowerRating), which are collaborating on osteoperosis drugs, have
extended their collaboration to November 2002.