Stocks Set To Open Higher
Stocks appeared set to open higher
Wednesday.
Lucent Technologies
(
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PowerRating) is looking
to raise $1 billion in a private offering. The company expects to offer
redeemable convertible preferred stock in order to accomplish their plan.
Renal Care
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PowerRating) reported Q2
earnings of 37 cents a share. The kidney dialysis provider also raised its
guidance for 2001 full-year revenues.
ILEX Oncology
(
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PowerRating) reported a
Q2 loss wider than the same quarter one year ago. The biotechnology company
posted a loss of 50 cents a share vs. 18 cents a year earlier. Analysts
surveyed by Thomson Financial/First Call expected the company to post a loss of
58 cents.
Robertson Stephens initiated coverage
on NVIDIA
(
NVDA |
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PowerRating) with a Buy rating. The analyst also set a 12-month price
target for the company of $97.
Goldman Sachs announced that it would
add to existing Priceline.com
(
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PowerRating) positions. Goldman Sachs cited
accelerated revenues growth, margin expansion and an increase in estimates as
fuel that should move the stock higher.
Lincoln National
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PowerRating) was
upgraded by Lehman Brothers from Market Perform to Strong Buy and set a price
target of $64.
Merrill Lynch optimistically said they
think that semiconductor equipments may begin to move. The firm upgraded their
rating on a number of semiconductor stocks.
General Semi
(
SEM |
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PowerRating) enters into a
merger agreement with Vishay Intertechnology
(
VSH |
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PowerRating) in an all-stock
transaction.
Amdocs
(
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PowerRating) signed a multi-year
agreement with Verizon Information Services(VIS). In the agreement, DOX will
provide VIS with solutions for its telephone pages and electronic products.
Kos Pharmaceuticals
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PowerRating)
reported Q2 loss of 48 cents a share. According to a poll taken by Thomson
Financial/First Call, Wall Street was expecting a loss of 51 cents a share.
Pharmacopeia
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PCOP |
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PowerRating) posted a Q2
loss of 8 cents a share, beating analysts’ consensus by a penny.
Cigna
(
CI |
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PowerRating) reported Q2 earnings of
$1.73, falling short of analysts’ expectations by 4 cents.
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