Lower Opening For Stocks
Stocks appeared set to open lower
Wednesday as we head in to the 4th of July holiday.
Qiagen N.V.
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PowerRating) lowered its
Q2 and Fiscal Year 2002 estimates. The company sees Q2 sales coming in at $73
million down from $83 million pushing FY02 numbers lower by 13% with revenues of
$300 million vs $345 million. Earnings for Q2 will come in at 5 cents while full
year earnings are estimated to come in at 23 cents.
Advanced Micro Devices
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PowerRating) once
again warned on Q2 sales forecast. The chip maker sees sales for the quarter
coming in at $600 million down from previous guidance of between $620 million to
$700 million.
According to a report from Dow
Jones, Vodafone PLC
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PowerRating) denies any rumors of accounting woes the
company may face.
PF Chang’s Bistro
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PowerRating) said it
sees Q2 earnings of between 18 cents to 19 cents a share and preannounced
revenues for the quarter of $107.7 million versus consensus estimates of $98.36
million according to Multex.
The Wall Street Journal reported
that former Vivendi Universal
(
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PowerRating) CEO Jean Claude Messier has negotiated an
$17.8 million severance package.
Knight Trading
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PowerRating) warned that
is sees a loss for Q2 coming in between 4 cents to 6 cents a share. According to
Multex, analysts consensus was for a profit of a penny.
Lehman Brothers upgraded Brinker
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PowerRating)
from Market Perform to Strong Buy based on valuation.
Deutsche Securities downgraded
Genentech
(
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PowerRating) from Buy to Market Perform based on valuation.
Genesis Microchip
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PowerRating) was
downgraded at Prudential from Buy to Hold citing a poor pricing outlook for the
company’s integrated analog ICs.
Arts and crafts store AC Moore
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PowerRating)
said it expects to expects Q2 sales of $82.9 million versus analysts consensus
of $81.06 million according to Multex.
Georgia-Pacific
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PowerRating) was upgraded
at CIBC Worldmarkets from Hold to Buy based on the company’s restructuring
efforts.
Benchmark Electronics
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PowerRating) said
Q2 earnings and revenues should come in between 29 cents to 31 cents and $380
million to $390 million respectively. Analysts consensus is for earnings of 26
cents a share and revenues of $337.05 million.