Stocks To Open Mixed
The broader markets
appear set to
open mixed to lower on Thursday.
ABN Amro upgraded Adelphia
Communications
(
ADLAC |
Quote |
Chart |
News |
PowerRating) from Add to Buy and raised its price target on the
company from $37 to $40.
Greenpoint Financial
(
GPT |
Quote |
Chart |
News |
PowerRating)
announced that it would no longer be in the business of issuing consumer loans
which are used to buy manufactured housing. The company said it will take a one-time charge of $663 million (net of taxes).
Christopher & Banks
(
CHBS |
Quote |
Chart |
News |
PowerRating)
reported same-store sales rose 6% in December and views January same-store
sales coming in between unchanged and up 2%.
Overland Data
(
OVRL |
Quote |
Chart |
News |
PowerRating) said it
expects to beat analysts’ estimates for fiscal Q2 numbers. According to Thomson
Financial/First Call, one analyst who follows the company estimated revenues at
$42 million and earnings to come in at 13 cents a share.
Pier 1 Imports
(
PIR |
Quote |
Chart |
News |
PowerRating) said December
same-store sales rose 14%. The home furnishings retailer also raised its Q4
earnings estimates to come in between 44 – 46 cents vs. prior guidance of
between 40 – 42 cents. According to Thomson Financial/First Call, consensus is
for the company’s earnings to come in between 40 – 44 cents with an average
estimate of 42 cents.
Dow Chemical
(
DOW |
Quote |
Chart |
News |
PowerRating) warned that it will not meet prior earnings guidance for Q4. The company said it will not hit
earnings forecasts which were in the range of 10 – 20 cents a share. Analysts
surveyed by Thomson Financial/First Call estimated earnings of 13 cents.
Amylin Pharmaceuticals
(
AMLN |
Quote |
Chart |
News |
PowerRating)
reported positive results from the company’s infusion study of AC2993, which is
used to treat type 2 diabetes.
Banc of America upgraded Concord
Communications
(
CCRD |
Quote |
Chart |
News |
PowerRating) from Market Perform to Buy, saying it believes the
company could break even for Q4. The firm maintains the $28 price target on CCRD.
EMC Corp
(
EMC |
Quote |
Chart |
News |
PowerRating) was upgraded by
Salomon Smith Barney from Outperform to Buy.
ABN Amro upgraded Walt Disney
(
DIS |
Quote |
Chart |
News |
PowerRating)
from Hold to Buy, stating the company shows the best mix of leverage to recover
and is at an attractive valuation.
Action Performance
(
ACTN |
Quote |
Chart |
News |
PowerRating) expects
Q1 sales to be in excess of analysts’ high-end estimate of $71.8 million.
Gemstar-TV Guide
(
GMST |
Quote |
Chart |
News |
PowerRating) was
downgraded by Robertson Stephens from Strong Buy to Buy citing the increase in
share appreciation.