Lower Opening
Stocks appear set to open lower
Thursday.
Bear Stearns downgraded Immersion
Corp. from Buy to Attractive and lowered its price target for the company in the
range of $10-$13 from $14-$21.
Credit Suisse First Boston was
positive on Finsar Corp.
(
FNSR |
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PowerRating), citing upside potential in the April
quarter for company.
Ciena
(
CIEN |
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PowerRating) is holding a
conference call which began at 8:30 AM EST.
Lucent Technologies
(
LU |
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PowerRating) reaffirmed
that it expects to return to profitability during FY02.
ABN Amro is positive on Amdocs Ltd.
(
DOX |
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PowerRating) and raised its price target on the company from $31 to $39.
Apollo Group
(
APOL |
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PowerRating) will replace
XO Communications
(
XOXO |
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PowerRating) in the Nasdaq 100 Index beginning on Dec. 17.
Dresdner Kleinwort Wasserstein
downgraded Research In Motion
(
RIMM |
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PowerRating) from Hold to Reduce based on
valuation.
Prudential Securities downgraded
Advanced Micro Devices
(
AMD |
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PowerRating) from Hold to Sell.
Robertson Stephens upgraded Ann Taylor
Stores
(
ANN |
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PowerRating) from Market Perform to Buy.
Prudential Securities downgraded
Microchip
(
MCHP |
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PowerRating) from Buy to Hold, citing valuation.
Bioject Medical
(
BJCT |
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PowerRating) has
entered an agreement with Amgen
(
AMGN |
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PowerRating) that will allow AMGN the potential
to use BJCT’s needle-free injection system.
PPI for November fell 0.6%, while
the core rate rose 0.2%.
Retail Sales fell 3.7% and 0.5%, excluding autos
for November
Jobless claims rose 86,000 to 394,000
for the week of Dec. 8.