Stocks Set To Open Lower
Stocks appeared set to open lower Monday.
Echostar Communications
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said it will make a $30.4 billion bid in stock for Hughes Electronics
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The price of oil slid lower due to
Tropical Storm Barry which is currently in the Gulf of Mexico, as the threat to oil production has diminished.
General Dynamics
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acquire Motorola’s
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million in cash.
News Corp
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full year operating income increased 69% to $62.43 million.
Goldman Sachs initiated coverage on
Openwave with a Market Outperform and put a target price of $35.
Dendrite International
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upgraded by Bear Stearns from Attractive to Buy. The 12 month price target for
the company is $16.
Sanmina’s
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upgraded by First Union Securities from Market Perform to Buy.
Mederex
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MEDX |
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earnings of 6 cents a share beating analysts’ estimates by 6 cents.
Electronics store Radioshack
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said comparable store sales fell 6% for July.
British Airways
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BA |
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profits fell to $71.5 million, falling by almost 50% from the same period one
year ago.
The Index of Economic Indicators for
Japan have indicated that the slowdown for the country will continue for the
next several months.
The US Food and Drug Administration
issued an “approvable” letter to Shire Pharmaceuticals Group
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for Adderall, a treatment for Attention Deficit Hyperactivity.
Salomon Smith Barney lowered estimates
for Intel
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PowerRating) for Q3 and full year 2001 and 2002.