Lower Opening For Broader Markets
Stocks appear set to open lower
Wednesday on the heals of tech warnings.
TRW
(
TRW |
Quote |
Chart |
News |
PowerRating) has entered a definitive
agreement to sell Aeronautical Systems to Goodrich Corp
(
GR |
Quote |
Chart |
News |
PowerRating) for $1.5 billion
in cash.
Housing stock Lennar Corp
(
LEN |
Quote |
Chart |
News |
PowerRating)
reported Q2 net earnings of $1.51 per share, beating analysts’ consensus by 27
cents according to Multex.
Merrill Lynch downgraded Apple
Computer
(
AAPL |
Quote |
Chart |
News |
PowerRating) from Buy to Long Term Neutral due to lack of long-term
visibility for the company.
Invision
(
INVN |
Quote |
Chart |
News |
PowerRating) has received $6.6
million in orders for its CTX explosive detection systems. This includes follow-on orders from Italy and Israel.
Goodyear Tire
(
GT |
Quote |
Chart |
News |
PowerRating) raised Q2
guidance. The tire maker sees earnings for the quarter coming in the range of 10
– 15 cents a share vs. prior guidance of between 5 –
10 cents a share. Analysts’ consensus is for 8 cents a share according to Multex.
Salomon Smith Barney downgraded
Advanced Micro Devices
(
AMD |
Quote |
Chart |
News |
PowerRating) from Outperform to Neutral and lowered its
price target on the company from $17 to $10. The firm cites AMD has lost market
share to INTC and faces price pressures.
Multimedia Games
(
MGAM |
Quote |
Chart |
News |
PowerRating) lowered
its FY02 forecast to come in 5 – 15 cents lower than prior
guidance. The company sees earnings between $1.60 – $ 1.70, while analysts’
consensus is for $1.81 a share according to Multex.
Ciena
(
CIEN |
Quote |
Chart |
News |
PowerRating) warned on Q3
revenues.
ATI Technology
(
ATYT |
Quote |
Chart |
News |
PowerRating) posted Q3
net earnings of 8 cents a share, in line with analysts’ consensus. Revenues rose
slightly to $266.2 million, while consensus was for $275.97 million.