Stocks To Open Slightly Lower
Stocks appear set to open flat to
lower Tuesday after a nice run over the last two sessions.
Chico’s FAS
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PowerRating) reported Q4
earnings which beat the Street’s estimates. The women’s retailer posted net
income of $9.8 million, or 23 cents a share, vs. $5.7 million, or 14 cents a
share, for the same quarter a year ago. Analysts surveyed by Thomson
Financial/First Call were expecting the company to earn 20 cents a share.
BJ’s Wholesale Club
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PowerRating) posted net
earnings of 77 cents a share, in line with analysts’ estimates.
Gart Sports
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PowerRating) said earnings
increased by 69%, citing the company’s acquisition of Oshman’s Sporting Goods as
the catalyst. The company earned $11 million, or 95 cents a share, excluding
costs, vs. $6.5 million, or 82 cents a year ago, excluding a tax benefit.
Staples Inc
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PowerRating) posted net
earnings of 20 cents a share on a diluted basis compared with a loss of 23
cents for the same quarter a year ago.
Henry Schein
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PowerRating) reported Q4
earnings of 62 cents a share, beating analysts’ estimates of 60 cents a share
according to Multex.
Texas Instruments
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PowerRating) reaffirmed
guidance for Q1 last night, stating semi orders were strong compared with Q4.
Salomon Smith Barney raised its price
target for the Dow Jones Industrial Average from 10,800 to 11,400.
Merrill Lynch upgraded Gap Inc
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PowerRating)
from Neutral to Strong Buy, citing that a rebound could come as early as
September.
Morgan Stanley upgraded Intel
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PowerRating)
from Outperform to Strong Buy.
Waste Management
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PowerRating) said it
will lay off 3.5% of its workforce, or 2,000 employees.
The Semiconductor Industry Association
(SIA) reported that worldwide semi sales for January fell 1.7% sequentially from
December.
The European Union warned that should
President Bush impose tariffs on steel imports, it would hurt relations with the
15 nations that make up the EU.