Lower Opening
Stocks appear set to open lower
Tuesday.
Myriad Genetics
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PowerRating) and
Pharmacia
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PHA |
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PowerRating) have established a research alliance in the area of
pharmacogenomics.
Jacques Nasser, CEO of Ford Motor
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F |
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PowerRating),
was replaced by William Clay Ford, the great-grandson of the founder Henry Ford.
IBM
(
IBM |
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PowerRating) presented a new line of
storage networking products. The line is geared for mid-market customers.
Proctor & Gamble
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PG |
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PowerRating)
reported a 5% decline in first quarter net income. Earnings came in at 96 cents
a share, beating analysts’ estimates by 2 cents according to Thomson
Financial/First Call.
Genzyme
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GENZ |
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PowerRating) was granted
permission by a Belgian court to buy the manufacturing facility of the Dutch-based
Pharming.
Insurance company XL Capital
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PowerRating)
reiterated the company’s plans to acquire a 67% stake in Le Mans Re, a
reinsurance company.
Video rental chain Hollywood Entertainment
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PowerRating) posted Q3 earnings of 28 cents a share on a diluted basis vs. 2
cents in the same quarter one year ago.
Willis Group Holdings Ltd
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WSH |
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PowerRating)
reported a Q3 net loss of $81 million, or 55 cents a share, vs. a loss of $8
million, or 7 cents, for the same quarter last year. Excluding costs of option
charges, the company reported cash earnings of $25 million, or 16 cents a share,
outpacing analysts’ estimates of 12 cents according to Thomson Financial/First
call.
Rehab Care Group
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RHB |
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PowerRating) posted
earnings of 44 cents a share for Q3, meeting analysts’ estimates, but warned on
Q4 numbers.