Lower Opening
Stocks appear set to open lower
Wednesday.
According to a report in the Wall
Street Journal, analysts following EMC Corp
(
EMC |
Quote |
Chart |
News |
PowerRating) expect the company to
consider another round of layoffs.
Joseph Berardino has resigned from his
position as Chief Executive Officer of Arthur Anderson.
Invision Technologies
(
INVN |
Quote |
Chart |
News |
PowerRating) said
it plans to make a public offering of 3 million shares, pricing the shares at
$36.50.
Fargo Electronics
(
FRGO |
Quote |
Chart |
News |
PowerRating) said Q1
and full-year profits should come in higher compared with numbers from a year
ago for the same periods.
Isis Pharmaceuticals
(
ISIS |
Quote |
Chart |
News |
PowerRating)
announced that Pharmacia Corp
(
PHA |
Quote |
Chart |
News |
PowerRating) will be using GeneTrove, a division of
Isis, for its proprietary anti-sense inhibitors to help with validation studies.
Wachovia upgraded Network Associates
(
NET |
Quote |
Chart |
News |
PowerRating)
from Buy to Strong Buy, stating that the SEC inquiry into the company’s accounting
practices for FY 2000 is no longer relevant today. The firm cited the new
management team’s use of conservative accounting practices.
Merrill Lynch reinitiated coverage and
reinstated its Near Term Buy rating on Storage stocks.
ESS Technologies
(
ESST |
Quote |
Chart |
News |
PowerRating) raised
guidance for Q1 to more than 27 cents a share vs. prior guidance of 22 cents
to 25 cents a share. ESST also sees revenues exceeding $75 million, compared with
previous guidance of between $68 to $70 million.
VIVUS
(
VVUS |
Quote |
Chart |
News |
PowerRating) said it has
begun
treatment of Phase II/III at-home clinical trials of the company’s drug Alista
for treatment of Female Sexual Arousal Disorder.
REX Stores
(
RSC |
Quote |
Chart |
News |
PowerRating) reported earnings
for Q4 of 78 cents a share, beating Multex consensus by 4 cents.