Stocks To Open Lower
Stocks appear set to open lower
Monday as we proceed with earnings season.
Salomon Smith Barney downgraded Oxford
Health
(
OHP |
Quote |
Chart |
News |
PowerRating) from Outperform to Neutral.
PDA maker Handspring
(
HAND |
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News |
PowerRating)
rolls out a number of compact communicators which include a combination of
mobile phone, wireless e-mail, messaging and web browsing, in addition to a Palm
OS organizer.
Morgan Stanley lowered its revenue
forecasts on the following telecom companies: Verizon
(
VZ |
Quote |
Chart |
News |
PowerRating) from 6% to 4.5%,
BellSouth
(
BLS |
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Chart |
News |
PowerRating) forecasts were lowered to 5.6% from 6.7%, SBC Communications
(
SBC |
Quote |
Chart |
News |
PowerRating) from 6.1% to 3.9%.
Robertson Stephens lowered estimates
on BEA Systems
(
BEAS |
Quote |
Chart |
News |
PowerRating) for Q3 from $260 million to $227 million.
JP Morgan lowered its ratings on a
number of semiconductor stocks. The following were lowered from Long Term
Buy to Market Perform: Altera
(
ALTR |
Quote |
Chart |
News |
PowerRating), Xilinx
(
XLNX |
Quote |
Chart |
News |
PowerRating), Applied Micro
Circuits
(
AMCC |
Quote |
Chart |
News |
PowerRating), PMC-Sierra
(
PMCS |
Quote |
Chart |
News |
PowerRating) and Vitesse Semiconductors
(
VTSS |
Quote |
Chart |
News |
PowerRating).
United Therapeutics
(
UTHR |
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News |
PowerRating)
announced that Phase III clinical trials of oral berarost did not show a
confluence with the Eurpoean Phase III results.
Dynegy
(
DYN |
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Chart |
News |
PowerRating) posted Q3 earnings of
85 cents a share, beating analysts’ estimates by 4 cents. The company also raised
guidance for 2001 to come in between $2.07-$2.10 with an analysts’ consensus of
$2.06.
Global Marine
(
GLM |
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Chart |
News |
PowerRating) posted Q3
earnings of 34 cents a share, in line with analysts’ estimates.
Adtran
(
ADTN |
Quote |
Chart |
News |
PowerRating) reported Q3 earnings
of 13 cents, outpacing the consensus of 11 cents a share.