Markets Appear Heavy…Lower Opening Slated
Stocks appear set to open lower
Thursday as an earnings warning from Juniper Networks
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JNPR |
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PowerRating) weighs on the
futures this morning.
Neose Technologies
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NTEC |
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PowerRating) has
announced that it has entered into a licensing agreement with Wyeth-Ayerst
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AHP |
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PowerRating)
to allow AHP to utilize NTEC’s Glyco Advance technology.
Mirant
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MIR |
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PowerRating) is in a conference
call this morning which began at 8:00 AM EDT.
Lehman Brothers raised its price target
on Calpine
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CPN |
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PowerRating) from $10 to $23 and FY02 earnings estimates from $2.16 to
$2.30.
Robertson Stephens is cautious on
Amazon.com
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AMZN |
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PowerRating), citing concerns about the company’s current valuation and
long-term profitability.
McGrath Rent Corp.
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MGRC |
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PowerRating) has
entered an agreement to be acquired by Tyco International
(
TYC |
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PowerRating) for $482
million, or $38 per share. MGRC closed at $24.97.
Salomon Smith Barney upgraded AT&T
(
T |
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PowerRating) from Neutral to Buy based on the Broadband/Comcast deal.
Credit Suisse First Boston upgraded
Federal Express
(
FDX |
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PowerRating) from Hold to Buy, stating it has seen an improvement in
volume, yield growth and market share in the ground delivery service.
Merrill Lynch upgraded a number of
Retailers to Near Term Strong Buy: Ann Taylor
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ANN |
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PowerRating), Ross Stores
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ROST |
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PowerRating),
Too Limited
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TOO |
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PowerRating) and ZLC
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ZLC |
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PowerRating).
Bear Stearns upgraded Palm
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PALM |
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PowerRating)
from Neutral to Attractive.
Credit Suisse First Boston downgraded
APW Ltd.
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APW |
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PowerRating) from Buy to Hold.
UBS Warburg upgraded Lexmark
International
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LXK |
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PowerRating) from Hold to Buy and set its price target on the stock
to $72.
Jabil Circuits
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JBL |
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PowerRating) reported a Q1
net of 11 cents a share, in line with analysts’ estimates.