Slated For A Weaker Opening
Stocks appeared set to open lower
Friday.
Mesa Air
(
MESA |
Quote |
Chart |
News |
PowerRating) said it will
begin training its pilots to carry and handle non-lethal taser weapons in
collaboration with the FAA.
TyCom
(
TCM |
Quote |
Chart |
News |
PowerRating) said it has reached an
agreement to be acquired by Tyco International
(
TYC |
Quote |
Chart |
News |
PowerRating) for approximately
$15.42/share in Tyco common shares. Tyco already owns 89% of TyCom.
Legg Mason
(
LM |
Quote |
Chart |
News |
PowerRating) posted earnings of
51 cents a share, falling short of analysts’ estimates of 53 cents according to a
survey taken by market research firm Thomson Financial/First Call.
Equitable Resource
(
EQT |
Quote |
Chart |
News |
PowerRating), the oil
and natural gas company, reported Q3 profits of 32 cents a share. The company
sees earnings for 2001 to come in at $2.25. Based on a poll taken by Thomson
Financial/First Call, analysts’ mean estimates are for $2.29.
Industrial products and services
company SPX Corp.
(
SPW |
Quote |
Chart |
News |
PowerRating) reported Q3 earnings of $1.45 as share, falling short
of analysts’ estimates by a nickel according to Thomson
Financial/First Call.
Anadarko Petroleum
(
APC |
Quote |
Chart |
News |
PowerRating) said it
will be taking a pre-tax charge of $827 million in Q3. The company cited lower
natural gas prices and ‘high differentials’ for heavy oil.
Visteon Corp.
(
VC |
Quote |
Chart |
News |
PowerRating) reported a Q3
loss of 57 cents a share, analysts’ forecasts were for the company to loss 49
cents a share according to Thomson Financial/First Call.
K-Swiss
(
KSWS |
Quote |
Chart |
News |
PowerRating), the maker of
sports footwear, posted Q3 earnings of 79 cents a share on a diluted basis.
Based on data collected by Thomson Financial/First Call, analysts surveyed were
expecting 61 cents with a range between 59 and 62 cents.
MedCath
(
MDTH |
Quote |
Chart |
News |
PowerRating), the cardiovascular
services provider. narrowed its estimates for a Q4 loss. The company said it
expects a Q4 loss of between $2.0 million to $2.5 million vs. previous
forecasts of a loss of $4.7 million.
Morgan Stanley downgraded R.J.
Reynolds
(
RJR |
Quote |
Chart |
News |
PowerRating) from Outperform to Neutral.
Fast food giant McDonald’s
(
MCD |
Quote |
Chart |
News |
PowerRating)
was downgraded by Salomon Smith Barney from Buy to Neutral and had its price
target cut to $30 from $35.
UBS Warburg upgraded Coca-Cola
(
KO |
Quote |
Chart |
News |
PowerRating)
from Hold to Strong Buy.
Banc of America Securities downgraded
TriQuint Semiconductors
(
TQNT |
Quote |
Chart |
News |
PowerRating) from Buy to Market Perform.
Interwoven
(
IWOV |
Quote |
Chart |
News |
PowerRating) was downgraded
by Prudential from Buy to Hold.
Merrill Lynch downgraded Providian
Financial
(
PVN |
Quote |
Chart |
News |
PowerRating) from Buy to Near Term and Long Term Neutral.
Check Point Software
(
CHKP |
Quote |
Chart |
News |
PowerRating) was
downgraded by Robertson Stephens from Buy to Market Perform and has a price
target of $34.
Merrill Lynch raised its near-term
rating on Scientific Atlanta
(
SFA |
Quote |
Chart |
News |
PowerRating) from Neutral to Buy.