Lower Opening For The Broader Markets
Stocks appear set to open lower as
Worldcom
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PowerRating) announced over the weekend that it has filed for bankruptcy
protection. This is the largest bankruptcy filing in corporate history.
Checkpoint Software
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PowerRating) posted
a Q2 net of 26 cents a share beating, analysts’ estimates by a penny according to
Multex.
Jakks Pacific
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PowerRating) reported a
Q2 net of 41 cents a share, beating Multex consensus by a penny and 5 cents
better than the same quarter a year ago.
According to a report in the Wall
Street Journal, AOL Time Warner
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AOL |
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PowerRating),
Comcast
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CMCSK |
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PowerRating) and AT&T
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T |
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PowerRating)
are close to an agreement to unwind the cable partnership.
Lexmark
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PowerRating) posted a Q2 net of
67 cents a share, beating analysts’ consensus by 6 cents according to a survey
taken by Multex. The company sees earnings for Q3 to come in the range of 58
cents to 68 cents, analysts’ consensus is for 64 cents.
Cymer
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PowerRating) reported Q2 net of
18 cents a share, beating analysts’ consensus by a penny. Revenues rose to $73.67
million, or 5%, outpacing the consensus of $72.64 million.
DR Horton
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DHI |
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PowerRating) reported Q3
earnings of 67 cents a share, beating Multex consensus by 2 cents. The company
sees full-year earnings coming in the range of $2.77 to $2.82 a share. Analysts’
consensus is for $2.84 a share.
Bunge Limited
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BG |
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PowerRating) reported
earnings of 50 cents a share, beating analysts’ consensus by 12 cents according to
Multex.
Merrill Lynch upgraded Monsanto
]MON|MON]
from Neutral to Near Term Buy, citing an improving business trend and the
completion of the SOI’s refinancing program.
3M
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MMM |
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PowerRating) posted Q2 earnings of
$1.36 a share, beating analysts’ estimates by 2 cents according to Multex
consensus.
UBS Warburg upgraded brewer
Anheuser-Busch
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BUD |
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PowerRating) from Hold to Buy.