Lower Opening For Stocks
Stocks appeared set to open lower
Wednesday.
Tech Data
(
TECD |
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PowerRating) posted Q1 net
earnings of 60 cents a share, beating analysts’ consensus by 3 cents according to
a survey taken by Multex.
First Albany lowered its rating on
Caminus
(
CAMZ |
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PowerRating) from Buy to Neutral citing softness in the company’s deal
activities in energy trading and risk management.
Merrill Lynch downgraded Gap Inc
(
GPS |
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PowerRating)
from Strong Buy/Strong Buy to Near Term Neutral/Long Term Buy after the
company’s President and CEO announced his decision to retire later this year.
Talbots
(
TLB |
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News |
PowerRating) posted Q1 net
earnings of 57 cents a share, in line with guidance and beating analysts’
consensus of 56 cents a share according to a survey taken by Multex. TLB said it
is comfortable with Thomson Financial/First Call estimates of 29 cents for Q2.
Banc of America lowered its estimates
on Oracle
(
ORCL |
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PowerRating), citing that fundamentals are being held back due to weak
IT spending and competition. The firm cut Q4 estimates to 11 cents from 13 cents
and FY03 estimates from 45 cents to 41 cents.
Credit Suisse First Boston upgraded
PeopleSoft
(
PSFT |
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PowerRating) from Hold to Buy based on valuation and favorable
risk/reward.
Penn National Gaming
(
PENN |
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News |
PowerRating)
declared a 2-for-1 stock split which will increase the outstanding shares to
approximately 39.1 million.
Polo Ralph Lauren
(
RL |
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Chart |
News |
PowerRating) reported Q4
net of 45 cents a share, beating analysts’ consensus by a penny according to a
survey taken by Multex.