Stronger Opening
Stocks appear set to open higher
Wednesday.
Pfizer
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PowerRating) posted Q4 earnings of
34 cents, in line with analysts’ consensus. Revenues rose 12% to $9.03 billion,
beating analysts’ consensus of $8.89 billion. The company also said it is
comfortable with 2002 guidance of $1.56-$1.60.
Matrix One
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MONE |
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PowerRating) and IBM
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IBM |
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have aligned to produce commerce solutions via hardware, software and middleware
products.
General Dynamics
(
GD |
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PowerRating) reported a
12% increase in Q4 profits. The maker of nuclear subs and destroyers posted
earnings of $246 million (net), or earnings of $1.21, in line with analysts’
estimates according to Thomson Financial/First Call.
Archer Daniels Midland
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ADM |
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PowerRating) said
earnings for Q2 rose 20%. The agribusiness giant earned 23 cents, or $150 million,
for the quarter vs. 19 cents, or $125 million, a year earlier.
Internet Security Systems
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PowerRating)
reported a net loss of $10.3 million, or 22 cents a share. Excluding charges, ISSX
posted a net profit of $4.8 million, or 10 cents a share, beating analysts’
estimates of 7 cents a share according to a poll taken by Thomson
Financial/First Call.
UBS Warburg upgraded Annaly Mortgage
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NLY |
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PowerRating)
from Buy to Strong Buy and raised the price target for the company from $18 to
$21.
Dynegy
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DYN |
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PowerRating) reported a Q4 net of
41 cents a share, in line with analysts’ estimates.
Merrill Lynch raised its rating on
Alcan Aluminum
(
AL |
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PowerRating) from Neutral to Near Term Strong Buy citing improving
aluminum prices, cost savings initiatives and an increase in cash flow.
Alliance Imaging’s
(
AIQ |
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PowerRating) lock-up
period expires today.
Tellabs Inc
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PowerRating) reported a
drop in Q4 results. The telecommunications equipment maker posted $13.6 million,
or earnings of 3 cents a share. Analysts polled by Thomson Financial/First Call
were expecting TLAB to earn 2 cents a share with a range between a loss of 1
cent to a profit of 5 cents.
Agere Systems
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AGR |
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PowerRating) posted a Q1
operating loss of 17 cents a share vs. a profit of 6 cents a share for the same
period one year ago.
Hair salon owner Regis Corp
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PowerRating)
reported a Q2 increase in net income of 40%. The company earned 39 cents a share,
or $17 million, compared to 29 cents, or $12.1 million, for the same quarter a year
ago.
J.P. Morgan upgraded a number of
semiconductor equipment stocks. Novellus
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NVLS |
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PowerRating), Applied Materials
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PowerRating),
KLA-Tencor
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PowerRating), Teridyne
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PowerRating) and Varian Semi
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PowerRating)
were upgraded to Long-Term Buy from Market Perform.