Mixed Opening
Stocks appear set to open mixed to
lower on a Triple Witching Friday.
Trimble Navigation
(
TRMB |
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PowerRating) and
Caterpillar
(
CAT |
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PowerRating) have agreed to form a joint venture called Caterpillar Trimble
Control Technologies, LLC.
Astra Zeneca
(
AZN |
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PowerRating) announced that
it will try to get approval to launch Iressa, the company’s anti-cancer drug, in
the United States.
According to a report in the New
York Times, Citigroup
(
C |
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News |
PowerRating) has suspended two foreign exchange traders due
to their relationship with Allied Irish Banks’ rogue trader who lost $691
million.
Kensey Nash Corp
(
KNSY |
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PowerRating) said
earnings for Q3 are going to be lower due to a decrease in revenue. The medical
products company expects to earn 7 to 9 cents a share vs. forecasts of 13
cents a share.
Lehman Brothers raised its rating on
Jabil Circuits
(
JBL |
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News |
PowerRating) from Buy to Strong Buy, citing the company has secured
enough new business to help EPS’s increase faster.
According to a report in Business
Week, TASER International
(
TASR |
Quote |
Chart |
News |
PowerRating) is expected to double revenues this year
due to an increase in sales to the airlines.
OPEC said it will not boost output,
but will revisit it in June when all the members meet.
Reliant Energy
(
REI |
Quote |
Chart |
News |
PowerRating) posted a Q4
profit of 16 cents a share, or $46 million, vs. a loss of $1.04 a share, or $299
million for the same quarter a year ago.
The Producer Price report for February
was 0.2% better than expected, while the core remained unchanged.