Stocks To Open Mixed
Stocks appear set to open higher
Tuesday.
According to a report on CNBC, Bernard
Ebbers, Chief Executive Officer of WorldCom
(
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PowerRating) has resigned due to
pressure from outside directors. Worldcom will be holding a conference call at
11:00 AM EST. To call in, you can dial 888-801-3935 and use the password: WCOM.
Transocean Sedco
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PowerRating) reported
earnings for Q1 of 24 cents a share, beating analysts’ consensus by 8 cents
according to a survey taken by Multex. Revenues came in at $667.9 million, an
increase of 21.4% on a year-over-year basis. Consensus was for $677.2 million.
AaiPharma
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AAII |
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PowerRating) has named Dr.
Philip Tabbiner as Chief Executive Officer. He succeeds Frederick D. Sancilio,
Ph.D. who will now take the role of Executive Chairman and Chief
Scientific Officer.
Register.com
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PowerRating) was upgraded
by Credit Suisse First Boston from Hold to Buy after the company reported Q1
results.
Goldman Sachs upgraded FreeMarkets
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PowerRating)
from Market Perform to Market Outperform due to valuation.
Edison Schools
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PowerRating) was
downgraded by Bear Stearns from Buy to Neutral.
DB Alex Brown and Lehman Brothers
lowered their ratings on Terayon Communications
(
TERN |
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PowerRating). DB lowered its
rating from Buy to Market Perform after the company reported numbers for Q1,
while Lehman Brothers downgraded TERN from Buy to Market Perform.
Procter & Gamble
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PG |
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PowerRating) reported
Q3 earnings of 84 cents a share, beating analysts’ consensus by a penny according
to Multex.
Qwest Communications
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Q |
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PowerRating) reported a
loss of 7 cents a share for Q1, missing consensus by 3 cents according to Multex.
Prudential Securities upgraded Genesis
Microchip
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GNSS |
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PowerRating) from Hold to Buy based on valuation and expectations that
the company can overcome pricing pressure.