Mixed Opening
Stocks appeared set to mixed Tuesday.
Consumer Confidence numbers for
September are due out at 10:00 a.m. ET, with Existing Home Sales for August due out
at the same time.
Viad
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PowerRating) warned for the quarter
ending September, citing the cancellation of tradeshows and events will reduce
earnings from 40 -45 cents a share to 30-35 cents, and FY 2001 earnings will fall
between $1.25-$1.30 from $1.55-1.60.
Power-One
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PowerRating) warned for the
September quarter, lowering revenues guidance to $50-$55 million vs. $65
million, according to a Multex consensus.
Early this morning, Dell Computer
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PowerRating)
said it will renew its sales and development agreement with EMC
(
EMC |
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PowerRating). The
relationship was severed two years ago, according to a report in the Wall
Street Journal.
Sun Microsystems
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SUNW |
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PowerRating) presented
the company’s newest high-end computer, the Sun Fire 15K. The new computer is
expected to increase sales for the company and be in competition with IBM
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IBM |
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PowerRating)
and Hewlett-Packard
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HWP |
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PowerRating).
AOL Time Warner
(
AOL |
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PowerRating) warned that
it expects earnings for 2001 to be lower than prior guidance. The company said the
terrorist attack on the U.S. will negatively impact the company’s advertising
and business operations.
Kopin Cirop
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KOPN |
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PowerRating) pre-announced
for Q3 upward, saying net loss should be between 15-17 cents a share vs.
consensus for a loss of 17 cents. The company expects revenues to come in
between the range of $11.6-$12 million vs. consensus estimates of $10.8
million.
Time Warner
(
TWTC |
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PowerRating) said it
expects Q3 revenues to come in between $170-$175 million vs. estimates of
$196 million.
Goldman Sachs upgraded SkyWest
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PowerRating)
from Market Perform to Market Outperform and maintained its rating of Recommend
List on Atlantic Coast
(
ACAI |
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News |
PowerRating). Goldman Sachs downgraded Mesa
(
MESA |
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PowerRating) to
Market Perform from Market Outperform.
Banc of America Securities upgraded
Cerner
(
CERN |
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PowerRating) to Buy from Market Perform.
E.piphany
(
EPNY |
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PowerRating) and Cisco
Systems have formed an alliance to develop, market and sell the next generation
of contact center solutions.
Coca-Cola
(
KO |
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PowerRating) reaffirmed that it
will meet earnings targets for the year, despite lower growth rates since the
terrorist attacks.
UBS Warburg lowered estimates for
Cisco Systems
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CSCO |
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PowerRating) citing economic fallout from the September 11 attack
on the U.S.
Merrill Lynch upgraded JDS Uniphase
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JDSU |
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PowerRating)
from Neutral to Near Term Accumulate.
Identix
(
IDX |
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PowerRating) was awarded a
contract from a large midwest airport to perform background checks on
prospective employees and to provide its biometric security solutions.
Merrill Lynch added Elan Corp
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ELN |
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PowerRating)
to its Focus 1 List. Merrill believes the FDA will approve Frovelan and Prialt
by the end of the year.
American Standard
(
ASD |
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PowerRating) said it
will not meet Q3 and full year earning estimates.
Qwest Communications
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Q |
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PowerRating) announced
it will provide additional ports for dial-up Internet access for KMart’s
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KM |
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PowerRating)
BlueLight $8.95 service in over 2000 cities and towns.
Lehman Brothers upgraded two insurance
companies from Buy to Strong Buy: Ace Limited
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ACE |
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PowerRating) and Almerica
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AFC |
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PowerRating).