Stocks Appear Set To Open Flat To Lower
Stocks appear set
to open flat to lower Wednesday.
Teva Pharmaceuticals
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priced a $300 million offering of Convertible Senior Debentures.
Research In Motion
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America Online Time Warner
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Communicator. The communicator is a two-way messaging unit which is manufactured
by RIMM.
Taiwan-based VIA Technologies, said it
will begin shipments of a chipset to be used in conjunction with Intel’s
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processors, regardless of proposed legal action by Intel.
Drug maker Novo Nordisj
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announced that the company bought shares of TransTech Pharmaceuticals, a
privately held company.
The U.S. dollar fell to a five-month
low against the Euro, shattering European investors’ hopes that dwindling
profits were near an end.
Applied Materials
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Q3 net income fell more than 90%, however the company beat its target. The
company posted earnings of 3 cents a share in line with analysts’ expectations,
according to a survey conducted by Thomson Financial/First Call.
BEA Systems
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earnings of 10 cents a share, beating analysts’ forecasts by a penny. The
company also lowered guidance for the remaining part of the year.
Enron’s
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Jeffrey Skilling resigned. The company announced that Kenneth Lay will assume
those posts.
Retailer, Abercrombie and Fitch
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posted earnings of 24 cents a share for Q2, beating analysts’ estimates by a
penny.
Berkshire Hathaway
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purchased 2.25 million shares in Honeywell
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Banc of America downgraded Check Point
Software
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industry.
Radware Limited
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downgraded to Market Perform from a Buy.
Bear Stearns upgraded Abercrombie and
Fitch
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Salomon Smith Barney cut Advance Micro
Devices
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to 40 cents from 46 cents a share.
Deere & Co
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Bear Stearns to Attractive from Neutral.
Alltel [AT|AT}Â has made an
unsolicited bid for Centurytel
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$43 a share.