Mixed Opening
Stocks appeared set to open mixed to
flat Monday.
Do It Yourself home improvement store
Lowe’s
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LOW |
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PowerRating) posted Q4 net earnings of 28 cents a share, beating analyst’s
estimates by 3 cents.
Roxio
(
ROXI |
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PowerRating) raised its guidance
for Q4, saying it sees Q4 earnings per share of 17 cents and revenues coming in
at $38 million vs. prior guidance of 15 cents a share and $33 million.
La Quinta
(
LQI |
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PowerRating) posted a
Q4 loss of $256.6 million or $1.79 a share vs. a loss of $49.1 million or 34
cents a share for the same quarter a year ago. The hotel company said the loss
was wider due to the downturn in domestic travel.
Williams-Sonoma
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WSM |
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PowerRating) raised its
fiscal 2001 earnings from a range of $1.25 to $1.28 to $1.31 to $1.32. According
to Thomson Financial/First Call consensus estimates were for $1.27 a share.
Qualcomm
(
QCOM |
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PowerRating) said its expects
to earn 20 cents a share for Q2, in line with analyst’s expectation according to
Thomson Financial/First Call.
Isis Pharmaceuticals
(
ISIS |
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PowerRating) said
the Phase II trials of its psoriasis topical cream Alicaforsen has shown
“statistically significant improvement.”
Hewlett Packard
(
HWP |
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PowerRating) started a
lab to develop low cost-tech solutions to assist the needs of India.
General Motors
(
GM |
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PowerRating) raised its
earnings estimates for Q1 and full year. GM expects Q1 earnings to come in at
$1.20 a share excluding items and 2002 estimates to be $3.50 a share.
SG Cowen upgraded Johnson &
Johnson
(
JNJ |
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PowerRating) from Buy to Strong Buy citing increasing confidence
in the
company’s drug Procrit. The firm also raised its price target on JNJ from $65 to
$72.
Reebok
(
RBK |
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PowerRating) was downgraded by UBS
Warburg from Buy to Hold citing increasing competitive pressure.
UBS Warburg upgraded Citrix Systems
(
CTXS |
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PowerRating)
from Hold to Strong Buy saying the selling of the company is overdone. The firm
has a price target of $25 on the company.
Sun Microsystems
(
SUNW |
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PowerRating) was
upgraded by Banc of America from Market Perform to Buy based on valuation.
Merrill Lynch upgraded Smith
International
(
SII |
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PowerRating) from Neutral to Near-Term Buy. The firm has a price
target of $75 on the stock.