Stronger Opening Ahead Of Greenspan
Stocks appeared set to open higher
Thursday as the market’s eyes are on Chairman Alan Greenspan as he is scheduled
to speak before the Senate Budget Committee at 10:00 a.m. ET.
ABN Amro upgraded Siebel Systems
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from Add to Buy and put a price target on the company of $45.
Atrix Laboratories
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received approval from the FDA for Eligard, its prostate cancer treatment.
Readers Digest Association
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posted Q2 earnings of 78 cents or $78.8 million. RDA beat analysts’ consensus of
75 cents according to a poll taken by Thomson Financial/First Call.
EMC Corp.
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loss of $70 million or 3 cents a share on a diluted basis for Q4 vs. a a
profit of 25 cents a share or $562.8 million for the same quarter a year ago.
Bayer AG will make its debut on
the NYSE today.
Kelly Services
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Q4 profit of 2 cents a share on a diluted basis, or $723,000 compared to $23.3
million or 65 cents for the same quarter one year ago.
Eli Lilly
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profit of 60 cents a share or $656.2 million before one-time items. Earnings
came in line with analysts’ estimates according to a poll taken by Thomson
Financial/First Call.
Textron Inc
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earning of 47 cents a share, beating analysts’ estimates of 44 cents a share
according to a survey taken by Thomson Financial/First Call.
Morgan Stanley has added Becton
Dickinson
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Goldman Sachs downgraded Exxon Mobil
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from Market Outperform to Market Perform.
CDW Computer
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by Goldman Sachs from Market Outperform to Recommend list. The firm also put a
price target of $64 on the company, citing key sales metrics.
Merrill Lynch upgraded MGM Mirage
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from Buy to Strong Buy and added the company to its Focus One list. The firms
price target for MGG is $38.
Varian
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earnings of 36 cents a share beating analysts’ consensus by 4 cents, according to
a poll taken by Multex.
Applied Biosciences
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downgraded by Credit Suisse First Boston from Buy to Hold due to disappointing
revenues for Q2 and the lowered guidance for FY 02 earnings.