Stronger Opening
Stocks appear set to open higher
Thursday on the last trading day of the first quarter for 2002.
Alpha Industries
(
AHAA |
Quote |
Chart |
News |
PowerRating) warned of
a Q4 loss in the range of 11 cents to 13 cents vs. the consensus for a loss of 4
cents a share. The company sees revenues coming in at approximately $28 million
vs. the consensus of $33 million.
Watson Pharmaceuticals
(
WPI |
Quote |
Chart |
News |
PowerRating) said
it received a “not approvable” letter from the FDA with regard to the
company’s Oxytrol, which is used to treat overactive bladders.
Tollgrade Communications
(
TLGD |
Quote |
Chart |
News |
PowerRating) reaffirmed Q1 earnings guidance saying it expects to earn between 8 cents and 10
cents a share on sales of at least $16.5 million. According to Thomson
Financial/First Call, analysts’ surveyed expect the company to earn 8 cents.
Expedia Inc
(
EXPE |
Quote |
Chart |
News |
PowerRating) has entered
into a marketing agreement with Continental Airlines
(
CAL |
Quote |
Chart |
News |
PowerRating). According to
EXPE, Continental has agreed to become a part of Expedia Vacations.
Prudential upgraded Adobe Systems
(
ADBE |
Quote |
Chart |
News |
PowerRating)
from Hold to Buy based on the prospects of PhotoShop 7 to increase demand for
the company’s Illustrator upgrade.
DB Alex Brown says to watch Terayon Communications
(
TERN |
Quote |
Chart |
News |
PowerRating), as Cable Labs is supposed
to announce which equipment suppliers passed DOCSIS 1.1 certification. TERN has
a Buy rating at DBAB.
Veeco Instruments
(
VECO |
Quote |
Chart |
News |
PowerRating) was
upgraded to Strong Buy from Buy at Merrill Lynch. MER sees improving
fundamentals and an attractive valuation for the company.
The Boston Globe has attempted
to raise issues on Biogen’s
(
BGEN |
Quote |
Chart |
News |
PowerRating) drug Amevive. The reporter for the
Globe
questions whether the drug will be approved by the FDA, saying it “remains
a guess at best.” The author feels that Genentech
(
DNA |
Quote |
Chart |
News |
PowerRating) and
XOMA Ltd
(
XOMA |
Quote |
Chart |
News |
PowerRating)
may gain ground with their competitive drugs.
Racing Champions
(
RACN |
Quote |
Chart |
News |
PowerRating) priced a
4.8 million share secondary offering at $17.25 a share.
ADC Telecommunications
(
ADCT |
Quote |
Chart |
News |
PowerRating)
said that Cox Communications
(
COX |
Quote |
Chart |
News |
PowerRating) will be taking delivery of almost 40 Cuda
12000 cable modem termination systems.