Stronger Opening
Stocks appear set to open higher
ahead of the FOMC meeting Tuesday.
Nokia
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NOK |
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PowerRating) gave a mid-quarter
update saying that it is on track to meet Q4 sales estimates and will meet, and
possibly exceed, earnings estimates.
Jones Apparel Group
(
JNY |
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PowerRating) will
replace Homestake Mining
(
HM |
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PowerRating) in the S&P 500 Index after the close of on Dec. 14.
Alliance Gaming
(
ALLY |
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PowerRating) raised its
December quarter guidance to 50 cents a share vs. 40 cents. The gaming equipment
maker also sees revenues exceeding $145 million vs. consensus estimates of
$142.3 million.
Timberland Co.
(
TBL |
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PowerRating) will replace
Jones Apparel Group
(
JNY |
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PowerRating) in the S&P Mid Cap 400.
Netegrity
(
NETE |
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PowerRating) will replace
Timberland Co.
(
TBL |
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PowerRating) in the S&P Small Cap 600 Index.
UBS Warburg upgraded AMC Entertainment
(
AEN |
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PowerRating) from Hold to Buy and raised the price target on the movie theater
chain from $11 to $18.
Merrill Lynch downgraded PacifiCare
Health
(
PHSY |
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PowerRating) to Near Term Reduce/Sell from Neutral.
Kroger Co.
(
KR |
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PowerRating) reported earnings
of 32 cents a share for Q3, in line with analysts’ estimates.
Celgene
(
CELG |
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PowerRating) reported that
Revimid has shown some noticeable anti-tumor activity and was accepted by
patients with little side effects.
Morgan Stanley downgraded Administaff
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ASF |
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PowerRating)
from Strong Buy to Outperform due to its current valuation.
UBS Warburg had some positive comments
to say of the Cable group. The firm sees that the Dec. 7 appeals court
ruling has benefited second- and third-tier cable players.
Lehman Brothers upgraded Wendy’s
(
WEN |
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PowerRating)
from Market Perform to Strong Buy and raised its price target from $26 to $40.
Meanwhile Lehman Brothers downgraded
McDonald’s
(
MCD |
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PowerRating) from Strong Buy to Market Perform.
BioSphere Medical
(
BSMD |
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PowerRating)
received clearance from the FDA for the company’s EmboCath Hydrophilic Infusion
Catheter.