Lower Opening For Broader Markets
Stocks appear set to open lower
Thursday.
Starwood Hotels
(
HOT |
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Chart |
News |
PowerRating) reported Q1
earnings of 8 cents a share, beating analysts’ consensus of a nickel according to
a survey taken by Multex. Revenues slid to $894.0 million, or 11.8%, on a year-over-year basis, but outpacing consensus of $884.1 million.
Prudential Securities downgraded AOL
Time Warner
(
AOL |
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Chart |
News |
PowerRating) from Buy to Hold and has a price target of $24 on the
company. The firm believes that results in AOL and cable will improve, however, it
could take a few quarters to come to fruition.
Dow Chemical
(
DOW |
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Chart |
News |
PowerRating) reported
earning of 7 cents a share, missing analysts’ consensus of 9 cents based on a
survey taken by Multex. Revenues fell 15.2% on a year-over-year basis to $6.26
billion. Consensus estimates were for $6.99 billion.
Insurance giant Aetna
(
AET |
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Chart |
News |
PowerRating) posted
Q1 earnings of 44 cents a share, beating analysts’ consensus of 4 cents according
to Multex.
Tyco International
(
TYC |
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Chart |
News |
PowerRating) beat Q2
analysts’ consensus of 64 cents a share by a penny. Revenues rose 13.5% to $10
billion on a year-over-year comparison. However, the company lowered guidance for
Q3 and FY 02. The company sees earnings for the June to come in between 58 to 62
cents a share vs. 81 cents.
Axcelis Technology
(
ACLS |
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News |
PowerRating) was
upgraded by Goldman Sachs from Market Perform to Market Outperform after the
company reported Q1 earnings that beat expectations.
Jobless Claims fell 31,000 to 421,000
for the week of April 20.
The Employment Cost Index for Q1 rose
.81.
American International
(
AIG |
Quote |
Chart |
News |
PowerRating)
reported Q1 earnings of 81 cents a share, in line with Multex consensus.
Jetblue Airways
(
JBLU |
Quote |
Chart |
News |
PowerRating) reported
Q1 earnings of 34 cents a share. Revenues for the quarter rose 109% on a year-over-year comparison to $133.4 million.
LSI Logic
(
LSI |
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Chart |
News |
PowerRating) was downgraded by
Merrill Lynch from Neutral to Near Term Reduce/Sell.