Higher Opening For Stocks
Stocks appeared set to open higher
Tuesday.
AFC Enterprise
(
AFCE |
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PowerRating) announced
that it has rescheduled its Q1 earnings release as the company’s auditors KPMG
have not completed its review on the company’s SFAS 142.
Home Depot
(
HD |
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PowerRating) reported Q1
earnings of 36 cents a share, beating analysts’ consensus estimates by 3 cents
according to a survey taken by Multex. Revenues came in at $14.28 billion, an
increase of 17.1% on a year-over-year basis. Consensus for revenues were for
$14.40 billion.
The 3-million-share IPO for Computer
Programs & Systems
(
CPSI |
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News |
PowerRating) is priced at $16.50/share.
Merrill Lynch upgraded Ford Motor
(
F |
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PowerRating)
from Neutral to Near Term Strong Buy and added the company to the firm’s Focus 1
list.
Triumph Group
(
TGI |
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PowerRating) filed for a
2.35 million secondary offering.
Cima Labs
(
CIMA |
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PowerRating) has entered into
a product development agreement with a unit of Schering-Plough Limited that will
use CIMA’s OraSolv fast-dissolve drug delivery system. The agreement will allow
CIMA to receive fees, royalty payments and milestone payments based on sales of
the prescription product.
Lehman Brothers downgraded Allstate
(
ALL |
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PowerRating)
and XL Capital
(
XL |
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PowerRating) from Strong Buy to Buy based on valuation.
BJ’s Wholesale
(
BJ |
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PowerRating) reported
earnings for Q1 of 32 cents a share, beating analysts’ consensus by a penny
according to Multex.
Staples
(
SPLS |
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Chart |
News |
PowerRating) posted Q1 net
earnings of 14 cents a share, beating Multex consensus by 3 cents. Sales for the office retailer rose 3% to $2.74 billion.