Stronger Opening
Stocks appear set to open mixed to
higher Friday.
Gemstar
(
GMST |
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PowerRating) announced that it
has extended its repurchase program to $300 million of the outstanding stock.
Robertson Stephens lowered its rating
on Enterasys
(
ETS |
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PowerRating) from Strong Buy to Under Review after the company lowered
guidance and announced changes in its management team.
Divine
(
DVIN |
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PowerRating) has entered an
agreement to acquire Viant
(
VIAN |
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PowerRating) for approximately 200 million shares of
DVIN’s Class A shares.
Goldman Sachs lowered its rating on
British Petroleum
(
BP |
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PowerRating) from Recommend List to Market Outperform.
SWS Securities lowered its estimates
on JAKKS Pacific
(
JAKK |
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PowerRating) for FY02 from $1.96 to $1.86 a share.
Goldman Sachs raised estimates for
KLA-Tencor
(
KLAC |
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News |
PowerRating) for CY03. The firm raised earnings estimates from $1.25
to $1.85 with a price target of $83.
Artesyn Technologies
(
ATSN |
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Chart |
News |
PowerRating)
warned on Q1 numbers. Consensus for the quarter was for a loss of 8 cents a
share. ATSN now sees a loss between 16 cents and 18 cents on revenues of
approximately $90 million vs. consensus of $98.25 million.
Non-Farm Payrolls for March rose
58,000. Unemployment rose to 5.7% vs. 5.5% for February. Average hourly
earnings rose 0.3%.