Stocks Look To Open Mixed
Stocks appear set to open mixed
Tuesday ahead of Cisco Systems
(
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PowerRating) earnings announcement after the bell.
Productivity numbers for Q2 were
reported this morning showing an increase of 2.5% stronger than expected.
Mandalay Resorts Group
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MBG |
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PowerRating)
announced that Q2 profits will fall 20% at its casino in Las Vegas vs. the
same period a year ago.
Allied Waste Industries
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AW |
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PowerRating)
reported Q2 earning of 22 cents a share, in line with analysts’ expectations, but
a penny less than the same quarter one year ago.
Qiagen NV
(
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PowerRating) said earnings
for Q2 came in at 8 cents a share, a rise of 60% from a year ago. Earnings beat
analysts’ expectations by 2 cents. Also, the genomic kit maker said it has
entered into an agreement with Bayer AG to produce DNA Micro-array Technology.
Merrill Lynch lowered its rating on
Broadwing
(
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PowerRating) from Accumulate to Neutral. The reason for the downgrade was
based on the valuation of the company.
Credit Suisse First Boston downgraded
a number of European semiconductor stocks, among them were ST Microelectron
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STM |
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PowerRating),
Kon Philips
(
PHG |
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PowerRating), Infineon Technologies
(
IFX |
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PowerRating) and ASML Holdings
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ASML |
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PowerRating).
Proctor & Gamble
(
PG |
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PowerRating) reported
a loss for Q4 of 60 cents, in line with analysts’ expectations according to
Thomson Financial/First Call.
Micrel
(
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PowerRating) was downgraded by
Credit Suisse First Boston from Buy to Hold.
Credit Suisse First Boston also
downgraded the Semiconductor Capital Equipment Sector to Market Underweight. The
firm lowered its ratings on Applied Materials
(
AMAT |
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PowerRating), Novellus
(
NVLS |
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PowerRating),
KLA Tencor
(
KLAC |
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PowerRating), Varian Semiconductor
(
VSEA |
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PowerRating) and ATMI
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ATMI |
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PowerRating) to
Hold from Buy.
Emerson Electric
(
EMR |
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PowerRating) posted Q3
earnings of 77 cents a share, in line with analysts’ consensus, but 10 cents off
of earnings for the same quarter one year ago.
Biotechnology company Cephalon
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CEPH |
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PowerRating)
reported a loss of 19 cents a share, beating analysts’ expectations by 6 cents a
share.
CDW Computer
(
CDWC |
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PowerRating) revised its
Q3 earnings range to 43 cents to 47 cents from 44 cents to 48 cents. Analysts’
consensus for the company are for 46 cents a share.
Time Warner Telecom
(
TWTC |
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PowerRating) said
earnings for Q2 dropped 55% from the same quarter last year. The company
reported 4 cents a share vs. 9 cents a share a year ago.
Ebay
(
EBAY |
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PowerRating) reported that the
company has acquired HomesDirect, a provider of real estate auction services on
foreclosure-related properties.
Serena Software
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SRNA |
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PowerRating) lowered Q2
earnings estimates to come in between 13 and 14 cents from analysts’ estimates
of 23 cents a share.