Stocks Look To Open Mixed
Stocks appear set
to open mixed Wednesday the first trading day of 2002.
The euro soared as the foreign
exchange markets welcomed the rollout of euro notes and coins.
Office Max
(
OMX |
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PowerRating) has named Michael
Killeen as Chief Financial Officer. He will succeed Jeffrey Freimark.
The Institute for Supply Management
numbers are set for release at 10:00 AM ET. Estimates are for the ISM number to
edge higher to 45.5 for December vs. 44.5 in November.
According to the Semiconductor
Industry Association, global semiconductor sales rose for the month of November.
Marriott International
(
MAR |
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PowerRating) said
it will sell a total of eight hotels for approximately $181 million in cash to
CNL Hospitality Corp.
Globe Span Virata
(
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PowerRating) was
upgraded by Needham & Co from Buy to Strong Buy. The firm also raised its
price target on the company to $27 citing a strong balance sheet.
Gerard Klauer Mattison upgraded Apple
Computers
(
AAPL |
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PowerRating) from Neutral to Outperform.
Credit Suisse First Boston downgraded
Healthcare Providers Dianon Systems
(
DIAN |
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PowerRating) and Apria Healthcare
(
AHG |
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PowerRating)
from Strong Buy to Buy.
Salomon Smith Barney downgraded
Inrange
(
INRG |
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News |
PowerRating) from Buy to Outperform and raised its price target from $10
to $15.
Robertson Stephens downgraded eBay
(
EBAY |
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News |
PowerRating) from Strong Buy to Buy due to valuation and raised its price target
on the company from $70 to $75.
Telecom bellwether AT&T
(
T |
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PowerRating) was
upgraded to Intermediate-Term Buy from Neutral by Merrill Lynch, citing the
potential positive impact the Comcast
(
CMCSK |
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PowerRating) deal will have on AT&T’s
balance sheet.