Mixed Opening
Stocks appeared set to open mixed to higher on
Tuesday.
Lehman Brothers downgraded Verisign
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from Strong Buy to Buy on concerns that the company may not be able to maintain
organic growth of 35% to 40%.
Stuart Bloomberg stepped down as
co-chair of Disney’s
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network’s less-than-desirable ratings.
Adrx Corp
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earnings would be “significantly lower” than the prior quarter, citing
delays in rolling out generic versions of revenue-generating drugs.
Hollywood Entertainment
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announced that same-store sales for Q4 rose 11%, beating expectations of between
6% and 7%.
Tricon Global Restaurants
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reported same-store sales for December rose 7%.
Wright Medical Group
(
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lockup which was priced on July 12, 2001, expires today.
ABN Amro was positive on McData
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and reiterated its Buy rating on the company, citing the OEM agreement with Sun
Microsystems
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PowerRating). The firm also raised its price target from $25
to$35-$40.
Goldman Sachs upgraded USA Education
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from Market Perform to Market Outperform, saying the company is attractively
valued.
Goldman Sachs recommended an
overweight in the airline sector, focusing on Delta Airlines
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Continental Airlines
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UAL |
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Market Perform to Market Outperform.
HNC Software
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downgraded by Goldman Sachs from Market Outperform to Market Perform.
ABN Amro upgraded Scientific Atlanta
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from Hold to Buy and put a price target of $35 on the stock.
Biotechnology company Invitrogen
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was upgraded by Merrill Lynch from Buy to Near Term Strong Buy and its price target was raised from $80 to $85.
Qualcomm
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ABN Amro from Buy to Add, and QCOM’s price target was lowered from $65 to
$56.
Affymetrix
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by Merrill Lynch from Strong Buy to Near Term Buy, citing a price increase of
almost 100%.
Salomon Smith Barney upgraded Newport
Corp
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NEWP |
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from $19 to $35.