Stronger Opening
Stocks appear set to open higher
Thursday after yesterday’s decision by the Fed to leave interest rates unchanged.
Dow Chemicals
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PowerRating) posted a loss
of a penny, while analysts’ estimates were for earnings of a nickel.
Merrill Lynch upgraded Intel
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PowerRating)
to a Strong Buy.
Avista Corp
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PowerRating) reported that Q4
net income dropped 91%. The company posted earnings of 12 cents a share on a
diluted basis, or $5.9 million, vs. $1.42, or $67.5 million, for the same quarter
a year ago.
Riverdeep Group
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PowerRating) posted an
increase in Q2 revenues to $41.3 million compared to $11.9 million for the same
quarter a year ago.
CuraGen
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PowerRating) posted a Q4 loss of
$16.2 million, or 33 cents a share, vs. $8.6 million, or 21 cents, a year ago.
Elizabeth Arden
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PowerRating) said that
it will lay off 100 employees, or 10% of its work staff, in the United States. RDEN
also said it will be restructuring and closing three of its distribution
centers. The beauty products maker also warned of a Q4 loss between $1 million and $4 million.
El Paso Corp.
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PowerRating) reported Q4
earnings of $408 million, or 79 cents a share, compared to $403 million, or 78
cents a share, for the same quarter a year ago. Analysts surveyed by Thomson
Financial/First Call were expecting the company to earn 78 cents.
Toy maker Mattel
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PowerRating) reported
earnings of 33 cents a share, or $146 million, missing analysts’ consensus of 34
cents according to a poll taken by Thomson Financial/First Call.
Proctor & Gamble
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PowerRating) reported
an increase of 9% in net quarterly income. For the quarter ending December (Q2),
PG posted net income of $1.3 billion, or 93 cents a share.
Footstar
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PowerRating) reported same-store sales rose 8.9% in January citing
an increase in sales for winter boots.
Newell Rubbermaid
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PowerRating) said Q4
earnings dropped 12%, citing a slowdown in retailing and the negative impact of
Kmart’s
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PowerRating) bankruptcy.
Barrick Gold
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PowerRating) said that
gold output for 2001 was 6.1 million ounces, meeting gold production targets. The
company also said it would adopt accounting principles used in the United State
which would result in a Q4 charge.