Stronger Opening
Stocks appear set to open higher
Tuesday as the markets seem reassured that the American Airlines crash yesterday
was not a terrorist act and on the news that the Northern Alliance has secured the city of
Kabul in the United States war on terrorism.
Oracle
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ORCL |
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PowerRating) shares fell in
Europe by 3% after its CEO Larry Ellison alluded to the Comdex audience
that quarterly earnings will come in between 9 cents and 10 cents a share.
Consensus for the quarter was for 11 cents a share.
Columbia Labs
(
COB |
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promising results from its first Phase III trials of its testosterone buccal
tablet which is used in treating hypogonadism in men.
Morgan Stanley has resumed its
coverage on Imclone
(
IMCL |
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PowerRating) at Outperform and has increased its price target
on the company from $57 to $76.
Home Depot
(
HD |
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cents a share, in line with analysts’ estimates.
UBS Warburg downgraded Pacific Sunwear
(
PSUN |
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PowerRating) from Buy to Hold after the company posted earnings.
Goldman Sachs lowered its rating on
Emmis Communications
(
EMMS |
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PowerRating) from Recommended List to Market Outperform.
Lehman Brothers analyst Dan Niles
reiterated his buy rating on Compaq
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Wal Mart
(
WMT |
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for Q3 of 33 cents a share, in line with analysts’ estimates.
CIENA
(
CIEN |
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Hambrecht from Buy to Neutral.
JP Morgan upgraded Checkpoint Software
(
CHKP |
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PowerRating) from Long Term Buy to Buy and raised its price target to $50 a
share.
Watson Pharmaceuticals
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WPI |
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posted Q3 earnings of 46 cents a share, missing analysts’ expectations of 62 cents
a share.