Higher Opening For Broader Markets
Stocks appeared set to open higher
Monday the first trading day of July.
Prudential Securities downgraded
Fairchild Semiconductor
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on the stock from $35 to $25. The firm believes that the company is fully valued
at this point.
Morgan Stanley
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at Goldman Sachs from Market Perform to Market Outperform.
Worldcom
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trading today, however the halt in trading on MCI Group
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remain intact.
JP Morgan downgraded Xilinx
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and Altera
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for weaker growth and rich valuations.
Johnson & Johnson
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received a non-approvable letter from the FDA for its New Drug Application for
Resperdal Consta.
Merrill Lynch upgraded Comverse
Technology’s
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restructure and achieve breakeven before the end of 2002.
Paul Fireman CEO of Reebok
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announced that he and his wife have adopted a stock trading plan to sell 2
million shares of the stock in efforts to diversify their portfolio.
Business Objects
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reaffirmed Q2 guidance on earnings to come in between 16 cents to 17 cents a
share on revenues of between $108 million to $110 million.
Merrill Lynch lowered its target on
the S&P 500 from 1200 to 1050.
XM Satellite
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PowerRating) reaffirmed
the company’s subscriber goals for the end of the quarter to come in at 136,500
which will exceed analysts projections.