Mixed To Lower Opening For Stocks
Stocks appear set to open mixed to lower
Wednesday.
Credit Suisse First Boston upgraded
Gap Inc
(
GPS |
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Chart |
News |
PowerRating) from Hold to Buy and raised its price target from $13 to $18
based on the company’s new flow outlook.
According to a report in the Wall
Street Journal, the Federal Energy Regulatory Commission has threatened to
revoke the rights of Avista
(
AVA |
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News |
PowerRating), El Paso Electric
(
EE |
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News |
PowerRating),
Portland
General
(
PGB |
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PowerRating) and Williams Company
(
WMB |
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News |
PowerRating) to sell power at market-based
rates. This is the first time in history that the FERC has entertained this
sanction.
Smithfield Foods
(
SFD |
Quote |
Chart |
News |
PowerRating), the home
of the Virginia Ham, reported Q4 net earnings of 22 cents a share, beating
analysts’ estimates by a penny according to Multex.
Bear Stearns upgraded BEA Systems
(
BEAS |
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Chart |
News |
PowerRating)
from Neutral to Attractive based on the stronger than expected pace of Java/J2EE
development and distribution.
Astra Zeneca
(
AZN |
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Chart |
News |
PowerRating) reported that
it has received an approval letter from the FDA for the company’s cholesterol
drug Crestor.
Sinclair Broadcast
(
SBGI |
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Chart |
News |
PowerRating) was
upgraded by UBS Warburg from Hold to Buy and raised its price target from $14 to
$18.
Goldman Sachs downgraded Manugistics
(
MANU |
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Chart |
News |
PowerRating)
from Market Outperform to Market Perform after the company warned on Q1 revenues.
Activision
(
ATVI |
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Chart |
News |
PowerRating) has priced a
follow-on offering of 7.5 million shares at $33.40/share. The proceeds from the
offering will be used for general corporate purposes.
Veridian Corp
(
VNX |
Quote |
Chart |
News |
PowerRating) has priced its
13.5-million-share IPO at $16. VNX provides information-based systems to the
U.S. Government.