Stronger Opening
Looking at the broad market index
futures, stocks appeared set to open higher Wednesday.
After Riverstone Networks’
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update call, Salomon Smith Barney raised FY03 estimates from 22 cents to 28
cents a share, and Credit Suisse First Boston increased their estimates from 21
cents to 30 cents for FY03 and raised its price target to $16 from $13.
Morgan Stanley downgraded retailer
Family Dollar
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Teva Pharmaceuticals
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reported Q3 net earnings of 58 cents a share beating analysts’ consensus by 5
cents, according to Thomson Financial/First Call.
Tommy Hilfiger
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earnings of 53 cents a share beating analysts’ estimates by 3 cents.
Auto parts retailer, Auto Zone
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said that it is “very comfortable” that it will exceed analysts’
estimates of 57 cents a share, based on a poll taken by Thomson Financial/First
Call.
Martha Stewart
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net earnings of 10 cents a share beating analysts’ estimates by a penny,
according to research firm Thomson Financial/First Call.
Qwest Communications’
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directors have extended the employment contract of Joseph P. Nacchio, chairman
and CEO, through 2005 and allows him 7.25 million in additional options.
Profit Recovery
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Q3 earnings of 4 cents a share, in line with analysts’ estimates.
Applebee’s International
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reported Q3 earnings of of 44 cents a share, meeting analysts’ consensus
according to a survey taken by Thomson Financial/First Call.
Insurance company Markel
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reported a Q3 net loss of $91 million or $10.58 a share vs. a loss of $15.6
million or $2.15 a share for the same quarter a year ago.
Gross Domestic Products fell 0.4%,
based on an incomplete data set mostly July, August and some of September.