Stronger Opening
Stocks appear set to open higher
Monday in front of the FOMC meeting tomorrow.
Action Performance
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ACTN |
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PowerRating) posted
Q1 net of 45 cents a share, beating analysts’ estimates of 25 cents a share.
Earnings also were better than the same quarter a year ago, which was a loss of 1 cent a
share.
According to a report in the Wall
Street Journal, Philip Morris
(
MO |
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PowerRating) is looking to sell Miller Brewing which
could record a sale of as much as $5 billion.
Palm
(
PALM |
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PowerRating) released its new
i705 which has “always on” e-mail, a web browser and AOL IM. This new
Palm is looking to compete with the Blackberry, which is manufactured by Research
In Motion
(
RIMM |
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PowerRating).
Alberta Energy
(
AOG |
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PowerRating) has agreed to
be acquired by Pan Canadian Energy
(
PCX |
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PowerRating) for $41.66 a share.
Bunge Limited’s
(
BG |
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PowerRating) lock-up expires
today.
Xerox
(
XRX |
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PowerRating) reported a Q4 loss of
$4 million, or 1 cent a share, in line with analysts’ estimates according to a
survey taken by Thomson Financial/First Call.
Prudential Securities upgraded T. Rowe
Price Group
(
TROW |
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News |
PowerRating) from Hold to Buy and raised the price target on the
company from $34 to $44.
Beckman Coulter
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BEC |
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PowerRating) posted a 12%
increase in Q4 earnings. Earnings rose to $48.3 million, or 75 cents a share,
compared with $43 million, or 69 cents, for the same quarter a year ago. Analysts
surveyed by Thomson Financial/First Call were expecting 75 cents with a range
between 73 to 77 a share.
UBS Warburg lowered its rating on
Eaton Vance
(
EV |
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News |
PowerRating) from Buy to Hold, citing valuation as EV is nearing the
firm’s
price target of $43.
Micron Technology’s
(
MU |
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PowerRating) bid for
South Korea’s Hynix Semiconductors’ core assets has run into some snags
according to a report from Reuters.
The British Airways and American
Airlines
(
AMR |
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PowerRating) merger talks have collapsed
Robertson Stephens initiated Itron
(
ITRI |
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PowerRating)
with a Buy rating and put a price target of $31 on the wireless data acquisition
company.