Lower Opening For Stocks
Stocks appear set to open lower
Friday.
JP Morgan downgraded chip stocks after
Intel’s
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Advanced Micro Devices
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Long Term Buy to Market Perform.
Merrill Lynch upgraded Omnicom
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from Buy to Strong Buy and put a price target on the stock of $100. Merrill
Lynch believes the recent stock decline is an overreaction (to the news
yesterday in which a board member who headed the audit committee resigned)
and feels this is a good entry point for the stock.
Biogen
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for Q2 and the full year. BGEN sees sales coming in between $150 to $160
million, $20 million lower than prior guidance.
Dean Foods
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Bear Stearns from Attractive to Buy and raised its price target on the company
from $42.50 to $45.00.
McKesson
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the expanded financial disclosure to three business units will lead to
no changes to expectations.
Nortel Networks
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public offering of 550 million shares at $1.41/ share.
Morgan Stanley initiated coverage on Hispanic
media stocks with an Overweight rating, among those are Univision
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Hispanic Broadcasting Corp
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