Higher Opening For The Broader Markets
Stocks appear set to open mixed to
slightly higher Thursday.
Equifax
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EFX |
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PowerRating) reported Q1 earnings
of 30 cents per share
According to a report on CNBC,
59% of the companies within the S&P 500 that have reported earnings thus far have beat analysts’ expectations.
Cypress Semiconductors
(
CY |
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PowerRating) posted
a Q1 loss of 10 cents a share, beating analysts’ consensus by 3 cents according
to a survey taken by Multex.
Baxter International
(
BAX |
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News |
PowerRating)
reported Q1 earnings of 41 cents a share, in line with analysts’ estimates
according to Multex. Revenues rose to $1.95 billion, or 11% on a year-over-year
basis. Analysts’ revenue estimates were for $1.96 billion.
Banc of America downgraded Teradyne
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TER |
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PowerRating)
from Buy to Market Perform, but raised FY02 and FY03 from a loss of $1.08 to a
loss of 70 cents.
Genzyme
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GENZ |
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PowerRating) was downgraded by
Bear Stearns from Attractive to Neutral, citing concerns of a medium-term
outlook.
UBS Warburg downgraded ATMI
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ATMI |
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PowerRating)
and Veeco International
(
VECO |
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PowerRating) from Buy to Hold based on valuation.
Storage Networks
(
STOR |
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News |
PowerRating) posted a
Q1 loss of 5 cents a share, beating analysts’ expectations for a loss of 15 cents
according to a survey taken by Multex. EBITIDA came in at $3.8 million, the first
positive quarter for the company.
National City
(
NCC |
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News |
PowerRating) reported Q1
earnings of 73 cents a share, beating analysts’ estimate of 60 cents according to
a survey taken by Multex.
Dial Corp
(
DL |
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Chart |
News |
PowerRating) reported Q1 earnings
of 25 cents a share, in line with analysts’ estimates based on a survey taken by
Multex. DL’s revenues rose to $307.05 million, or 5%, compared with consensus
estimates for $338.2 million.
Advanced Micro Devices
(
AMD |
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PowerRating) was
downgraded by Merrill Lynch and Salomon Smith Barney. Merrill Lynch lower the
company’s rating from Strong Buy to Long Term Buy, citing difficulties in keeping
pace with Intel
(
INTC |
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PowerRating), while Sollie lowered its rating from Buy to
Outperform and lowered its price target on the semi from $25 to $17 based on
beliefs of competitive pricing from Intel.
DB Alex Brown upgraded IBM
(
IBM |
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PowerRating)
from Buy to Strong Buy based on valuation and a strong balance.
Sungard Data Systems
(
SDS |
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News |
PowerRating) was
downgraded by Morgan Stanley from Overweight to Equal Weight. The firm also
lowered its price target from $38 to $32.
Jobless Claims rose to 445,000 up
1,000 for the week of April 13, 2002.