Mixed To Lower Opening

  • December 6, 2001
  • Greg Che

Stocks appeared set to open mixed to
lower Thursday.

Retailer Ann Taylor
(
ANN |
Quote |
Chart |
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PowerRating) said
that it remains comfortable with Q4 earnings guidance which comes in the range
of 25 cents to 30 cents. Analysts’ consensus is for 25 cents. ANN also reported
same store sales increased 0.8% in November.

Circuit City
(
CC |
Quote |
Chart |
News |
PowerRating) reported same
store sales for November rose 6% and also said the company expects a slight
profit for the Circuit City business.

Homestore.com
(
HOMS |
Quote |
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PowerRating) Chief
Financial Officer Joseph Shew announced his resignation citing personal reasons.

The European Central Bank has left
interest rates unchanged.

Christopher & Banks
(
CHBS |
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PowerRating)
reported a 10% increase in November same store sales.

Talbots
(
TLB |
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PowerRating) reported a 12%
decline in November comps which came in line with expectations.

Morgan Stanley upgraded AK Steel
Holdings
(
AKS |
Quote |
Chart |
News |
PowerRating) from Neutral to Outperform and put a price target of $15 on
the stock.

Geron
(
GERN |
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PowerRating) and Ribozyme
Pharmaceuticals
(
RZYM |
Quote |
Chart |
News |
PowerRating) have announced an alliance to accelerate the
development of GERN’s lead telomerase inhibitor GRN163.

Lehman Brothers upgraded MGM
(
MGG |
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News |
PowerRating)
from Market Perform to Buy with a $33 price target.

Radio Shack
(
RSH |
Quote |
Chart |
News |
PowerRating) reported a 3%
increase in November same store sales and said it is comfortable with Q4
earnings estimates of 66 cents.

Millennium Pharmaceuticals
(
MLNM |
Quote |
Chart |
News |
PowerRating) 
will acquire COR Therapeutics
(
CORR |
Quote |
Chart |
News |
PowerRating) for $2 billion in stock after CORR
signed a definitive agreement for the acquisition.

UBS Warburg downgraded Intuit
(
INTU |
Quote |
Chart |
News |
PowerRating)
from Strong Buy to Hold based on the valuation of the stock. INTU has advanced
50% since the middle of September.

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