Strong Opening Slated For Stocks
Stocks appeared set to open higher the
last Friday of the year.
OPECÂ has agreed to cut crude
production by 1.5 billion barrels a day or approximately 6.5%. This is the
fourth time this year the Oil Ministers have reduced production in hopes of
igniting an increase in prices which have slid almost 15% from a year ago.
Nanometrics
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PowerRating) lowered its Q4
outlook to a negative 25% vs. prior guidance that it would remain flat for
the quarter with regard to revenues.
Credit Suisse First Boston downgraded
Watchguard Technologies
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PowerRating) from Buy to Hold after the company preannounced
negative earnings last week.
Robertson Stephens said it believes
that Amazon.com’s
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PowerRating) Q4 guidance will be obtainable.
Sangstat Medical
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PowerRating) filed a
registration statement with the SEC to issue up to $100 million in securities in
an effort to repay debt as well as for general corporate issues.
Elastic Networks
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PowerRating) has
agreed to be acquired by Paradyne Networks
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PowerRating) for $28.8 million in
stock or about 86 cents a share. ELAS closed at 60 cents.
Jobless claims rose 7,000 to 392,000
for the week of Dec. 22, pretty much in line with estimates.
Durable goods for November rose 2.7%
excluding defense.
Consumer Confidence numbers are due
out at 10:00 AM EST.
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