Higher Opening For The Broader Markets
Stocks appear set to open higher
Monday.
Irish drug maker Elan Corp
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ELN |
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PowerRating)
said it would be scaling back on its operations so it can focus on three areas
which it believes will restore investor confidence.
Novell Inc
(
NOVL |
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PowerRating) has signed a
definitive agreement to acquire Silver Stream Software Inc
(
SSSW |
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PowerRating) in a cash
deal worth $212 million, or $9/share.
JP Morgan lowered its rating on
Merrill Lynch
(
MER |
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PowerRating) to Long Term Buy.
ICN Pharmaceuticals
(
ICN |
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PowerRating) said
that its senior management still remain with the company on the heels of news
that shareholders have managed to take over six of the nine seats on the board of
directors.
Dolphin Energy Ltd said its has chosen
the Halliburton Co
(
HAL |
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PowerRating) unit Halliburton
Brown & Root to be
project manager for the Al Ain-Fujairah gas pipeline in the United Arab
Emirates.
Comm Scope
(
CTV |
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PowerRating) said its expects
to see free cash flow for Q2 and the rest of the year.
Williams
Companies
(
WMB |
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PowerRating) cut its
estimates for 2002 from a range of $2.15 – $2.30 to $1.35 – $1.70 a share.
According to a report by Reuters
Company News, auto parts supplier Delphi Corp
(
DPH |
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PowerRating) has won a long-term
audio supply agreement with Ford
(
F |
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PowerRating).
Ryanair
(
BAB |
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PowerRating), the no-frills Irish
airline, said it earned a net profit of 150.4 million Euros (or $141.6 million).
Revenues rose to 624.1 million Euros from 487.4 million Euros from the same
quarter a year ago.
Stereo speaker maker Boston Acoustics
(
BOSA |
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PowerRating) said it has named Moses Gabbay as Chief Executive Officer and Allan
Evelyn as President.