Stocks Appear Set To Open Lower
Stocks appear to be edging lower on
the open Friday.
Charles River Laboratories
International
(
CRL |
Quote |
Chart |
News |
PowerRating) reported Q2 earnings of 24 cents a share. The drug
research company exceeded analysts’ expectations. According to a poll taken by
Thomson Financial/First Call, Wall Street was looking for earnings of 19 cents
for the quarter.
Furniture store Ethan Allen
(
ETH |
Quote |
Chart |
News |
PowerRating)
announced Q4 profits fell 33% and warned that Q1 earnings will be lower than
previously forecasted. Earnings for the home furnishing store came in at
50 cents a share, topping analysts’ consensus of 46 cents as share according to
Thomson Financial/First Call.
Coca-Cola
(
KO |
Quote |
Chart |
News |
PowerRating) was added to the
Goldman Sachs Select List.
Credit Suisse First Boston raised its
price target on Siebel Systems
(
SEBL |
Quote |
Chart |
News |
PowerRating) to $43 from $35 and continues to
maintain its Buy rating on the company.
Orbotech Ltd.
(
ORBK |
Quote |
Chart |
News |
PowerRating) was
downgraded by Salomon Smith Barney to Neutral from Buy and slashed its price
target from $43 to $27.
Motorola
(
MOT |
Quote |
Chart |
News |
PowerRating) was downgraded from
Strong Buy to Outperform.
Banc of America Securities lowered its
rating on Transocean Sedco from Strong Buy to Buy after the company lowered its
guidance for the company.
Lehman Brothers reduced its earnings
outlook for Protein Design Labs
(
PDLI |
Quote |
Chart |
News |
PowerRating) for both 2001 and 2002.
RV maker Fleetwood Enterprises
(
FLE |
Quote |
Chart |
News |
PowerRating)
reported a 22% decrease in sales and said it expects to report a loss for
Q1.
Walt Disney
(
DIS |
Quote |
Chart |
News |
PowerRating) reported
earnings of 23 cents a share for Q3, beating analysts’ expectations by 2 cents.
Disney said that the company expects a weak economy and a soft ad market to
continue through the next quarter.
Insurance giant John Hancock Financial
(
JHF |
Quote |
Chart |
News |
PowerRating) reported earnings of 63 cents for Q2 exceeding analysts’ expectations
by a penny.
Optimal Robotics
(
OPMR |
Quote |
Chart |
News |
PowerRating) reported
a 93% increase in revenues over the same quarter a year ago. The company stated
revenues for the quarter of $31,084,738 compared to $16,123,099 a year ago.
CIMA Labs
(
CIMA |
Quote |
Chart |
News |
PowerRating) posted Q2
earnings of 22 cents a share. Analysts surveyed by Thomson
Financial/First Call were expecting earnings for the pharmaceutical company to
come in at 21 cents a share with a range of 20 to 25 cent.
Barr Laboratories
(
BRL |
Quote |
Chart |
News |
PowerRating) began its
shipment of the company’s generic version of Prozac. The company also raised its
FY 2002 profit target be between $4 to $5 per share vs. prior estimates of
$3.84.