Higher Opening
Stocks appear set to open higher
Monday.
Krispy Kreme Doughnuts
(
KKD |
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Chart |
News |
PowerRating) said
that its Board of Directors has approved a corporate insider selling plan under
Rule 10b5-1. KKD said it will also disclose proposed sales of top executives on
its website 48 hours after the filing of Form 144 notices.
Champion Enterprises
(
CHB |
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News |
PowerRating) said Q1
losses will be higher than analysts expected. The company sees a loss of
between 23 and 27 cents a share on revenues between $305 million and $315
million. Analysts surveyed by Thomson Financial/First Call were expecting a
loss of 16 cents a share.
Serono Sa
(
SRA |
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PowerRating) revised earnings
for 2002 higher on higher sales forecasts of its drug Rebif.
Accounting firm KPMG has ended talks
with Andersen Australia due to concerns of the firm’s role with HIH Insurance
Ltd., a failed insurer.
LanOptics Ltd
(
LNOP |
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PowerRating) said shares
will begin trading on the Tel Avis Stock Exchange beginning April 1. LNOP is an
Israeli computer chip maker.
Computer Sciences Corp
(
CSC |
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PowerRating) said
it has agreed to resell 724 Solutions’
(
SVNX |
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News |
PowerRating) software used in banking
organizations and private-label credit card issuers.
JP Morgan downgraded McDonald’s
(
MCD |
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News |
PowerRating)
from Long Term Buy to Market Perform, citing lack of visibility of the company’s
U.S. and global strategies.
Energen
(
EGN |
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News |
PowerRating) revised its outlook
higher for 2002 to be in the range of $1.80 to $1.90 vs. consensus of $1.54.
Waters Corp
(
WAT |
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PowerRating) lowered its
outlook for the year from $1.23 to 83 cents, citing unfavorable patent
litigation.
Microsoft
(
MSFT |
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PowerRating) has chosen
Insignia Solutions
(
INSG |
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PowerRating) in a strategic alliance to participate in
Microsoft Mobility Partner Advisory Council.
EDS
(
EDS |
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News |
PowerRating) was downgraded by
Robertson Stephens from Strong Buy to Buy on concerns of off-balance-sheet
contingencies.
According to a report by the FDA,
Merck & Co’s
(
MRK |
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PowerRating) Vioxx has been linked to five cases of nonbacterial
meningitis between May 1999 and February 2001.
UBS Warburg downgraded Intersil
(
ISIL |
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News |
PowerRating)
from Buy to Hold due to competition from Intel
(
INTC |
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PowerRating),
Texas Instruments
(
TXN |
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PowerRating),
Broadcom
(
BRCM |
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PowerRating) and Cisco
(
CSCO |
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PowerRating).