Lower Opening Post Greenspan
Stocks appear set to open lower to flat Friday.
Watson Pharmaceuticals
(
WPI |
Quote |
Chart |
News |
PowerRating)
received FDA approval to market its generic version of Glucophage, a type 2
diabetes treatment offered by Bristol Myers Squibb
(
BMY |
Quote |
Chart |
News |
PowerRating).
Beyond.com
(
BYND |
Quote |
Chart |
News |
PowerRating) has filed for
Chapter 11 bankruptcy protection and has agreed to be acquired by Digital River
(
DRIV |
Quote |
Chart |
News |
PowerRating).
Bruker Daltonics
(
BDAL |
Quote |
Chart |
News |
PowerRating) and Roche
Holdings have aligned to develop proteins which will enable the study of how
proteins function in the body.
Peoples Energy
(
PGL |
Quote |
Chart |
News |
PowerRating) said 2002 Q1
profits will fall due to a mild winter. The utility company cut its 2002
earnings target to come in between $2.75 and $2.90; Consensus was for earnings of
$3.10 a share according to Thomson Financial/First Call.
T. Rowe Price Group
(
TROW |
Quote |
Chart |
News |
PowerRating)
announced that Q4 income fell to $45 million, or 35 cents a share, vs. $55.5
million, or 43 cents, for the same quarter a year ago. According to a poll taken
by Thomson Financial/First Call, consensus was for earnings of 33 cents.
CP Ships Ltd
(
TEU |
Quote |
Chart |
News |
PowerRating) posted Q4
profits of 31 cents a share net, or $25 million, compared to 50 cents a share, or
$40 million, a year ago.
Vodafone
(
VOD |
Quote |
Chart |
News |
PowerRating) said it will sell
its railway signal business to Deutsche Bahn for $998.3 million.
U.S. Treasuries are sliding this
morning as the probability of the Fed cutting rates at next week’s meeting has
diminished.
HPL Technologies’
(
HPLA |
Quote |
Chart |
News |
PowerRating) lock-up expires tomorrow.
Goldman Sachs upgraded PMC-Sierra
(
PMCS |
Quote |
Chart |
News |
PowerRating)
from Outperform to Recommended List and put a price target on the stock at $30.
Merrill Lynch upgraded Documentum
(
DCTM |
Quote |
Chart |
News |
PowerRating)
from Buy to Strong Buy.
Banc of America upgraded the drilling
sector from Buy to Strong Buy. Companies upgraded were BJ Services
(
BJS |
Quote |
Chart |
News |
PowerRating),
Nabors
(
NBR |
Quote |
Chart |
News |
PowerRating) and Smith
(
SII |
Quote |
Chart |
News |
PowerRating).
CIBC World Markets downgraded Qualcomm
(
QCOM |
Quote |
Chart |
News |
PowerRating) from Strong Buy to Hold after yesterday’s disappointing earnings.
Salomon Smith Barney downgraded ARM
Holdings
(
ARMHY |
Quote |
Chart |
News |
PowerRating) from Neutral to Underperform.