Stocks To Open Higher
Stocks appeared set to open higher Thursday due to stronger than expected economic numbers.
According to a report in the Wall
Street Journal, the Chicago Board of Options Exchange is looking into suspicious
trades in Peoplesoft
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PowerRating), Bristol-Myers
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PowerRating) and
IBM
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PowerRating). The
investigation comes on the heels of aggressive trades by member firms that
expected the shares of the company’s to fall.
Krispy Kreme Doughnuts
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reported a net of 15 cents a share for Q1, beating analysts’ consensus of 14 cents
according to a survey taken by Multex. Revenues for the company rose to $111.1
million or 26.3%. Analysts’ consensus was for $113.48 million.
Men’s Wearhouse
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PowerRating) posted Q1
earnings of 25 cents a share on a diluted basis. Analysts surveyed by Thomson
Financial/First Call were expecting earnings in a range between 14 and 18 cents
a share with an average of 16 cents.
Medtronic
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PowerRating) reported Q4
earnings of 34 cents a share, in line with analysts’ estimates.
Ciena Corp
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PowerRating) posted a net
loss of $612.2 million. The company attributes the loss to restructuring charges
and decreased spending by the company’s telephone carrier customers. The loss is
equal to $1.86 a share.
JAKKS Pacific
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PowerRating) has priced a
3.5-million-share offering at $17.75/share. Of the 3.5 million shares, 3
million were sold by the company and a half million by a number of shareholders.
Williams Energy Partners L.P.
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priced a public offering of 8 million units at $37.15 each. The offering is
expected to raised $283 million which will be used to pay off short-term debt.
Shire Pharmaceuticals
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released results from an efficacy study on the company’s Adderall XR. The study
showed the hyperactivity drug is effective and safe.
Tommy Hilfiger
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PowerRating) reported Q4
earnings of 45 cents a share on a diluted basis. According to a survey taken by
Thomson Financial/First Call, analysts’ consensus was for 40 cents a share.
Bank of America upgraded Halliburton
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from Market Perform to Buy, stating the visibility of the company’s asbestos
liability should improve. The firm feels HAL can reach the low $20 over the next
several months.
Cost Plus
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PowerRating) reported Q1 net
earnings of 8 cents a share, beating analysts’ estimates by 2 cents according to a
survey taken by Multex. Sales increased to $134.3 million, or 19%, outpacing
consensus of $133 million.