Lower Opening For Broader Markets
Stocks appeared set to open lower Thursday.
Urban Outfitters
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PowerRating) posted a
Q1 net of 26 cents a share, beating analysts’ consensus by a penny according to a
survey taken by Multex. Earnings outpaced the 7 cents for the same quarter a
year ago and sales rose to $94.1 million, or 31%, in line with consensus.
Sharper Image
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SHRP |
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PowerRating) reported a
loss for Q1 of 2 cents a share, beating analysts’ consensus for a loss of 4 cents
a share. Revenues rose on a year-over-year basis 33%, or to $92.8 million.
Salomon Smith Barney downgraded ViaSat
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VSAT |
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PowerRating) from Outperform to Neutral and cut its price target on the company
from $15 to $9 after the company reported earnings that missed estimates.
American Eagle Outfitters
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AEOS |
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PowerRating)
posted a Q1 net of 17 cents a share, beating analysts’ estimates by a penny
according to a survey taken by Multex.
Morgan Stanley downgraded Bemis
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PowerRating)
from Equal Weight to Underweight on belief that slower growth in the packaged
food business will affect BMS.
Retailer The Children’s Place
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PLCE |
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PowerRating)
posted a Q1 net of 56 cents a share, beating analysts’ consensus of 55 cents a
share according to Multex. On a separate note, PLCE has filed a 2-million-share
shelf registration with the Securities and Exchange Commission.
Morgan Stanley has initiated coverage
on grocery stocks. Whole Foods [WFMIWFMI] starts with an Overweight rating,
Safeway
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SWY |
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PowerRating) and Kroger
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KR |
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PowerRating) were given a rating of Equal Weight and
Albertson’s
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ABS |
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PowerRating) an Underweight rating.
Merrill Lynch upgraded CSK Auto
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CAO |
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PowerRating)
from Neutral to Strong Buy based on the belief that a turnaround is imminent.
Merrill Lynch downgraded NPS
Pharmaceuticals
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NPSP |
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PowerRating) from Strong Buy to Near Term Buy based on the belief
that the company’s Preos product launch may not occur as scheduled.
Ann Taylor
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ANN |
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PowerRating) was downgraded by
Merrill Lynch from Strong Buy to Near Term Buy.