Stocks To Open Stronger
Stocks appear set to open flat to
higher on Monday, the last trading day for 2001.
The FDA has requested more information
from Imclone Systems
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PowerRating) on the company’s Erbitux. UBS Warburg feels
that the request will push the revenue stream for the drug further out by one
year, from 2002 to 2003. At the same time, UBS has reduced its price target on the biotech
to $62. IMCL is holding a conference call today which began at 8:30 AM ET.
America West
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PowerRating) has gained
approval for $380 million in federal loan guarantees, which comes under the Air
Transportation Safety and Stabilization Act. The approval is conditional as AWA
must fork over a 33% stake of the company to the government.
Goldman Sachs issued some positive
notes on Semiconductors, citing November orders and shipments, which were reported
Friday, show seasonal strength for the group, but also indicate that the recovery
will be slow.