Stronger Opening For Stocks
Stocks appear set to open higher
Friday.
Goldman Sachs downgraded Alaska Air
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from Market Outperform to Market Perform.
Salomon Smith Barney downgraded
discount brokerage giant Charles Schwab
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Goldman Sachs feels that Yahoo’s
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roll out of access and paid search services will increase FY02 revenues and
EBITDA estimates. Goldman sees numbers coming in at $750 million, $50 million
more than this year’s $700 million.
King Pharmaceuticals
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upgraded by Goldman Sachs from Market Outperform to Recommended List, citing
attractive valuation and good fundamentals.
Morgan Stanley upgraded Aftermarket
Tech
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ABN Amro is positive on software maker
Intuit
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PowerRating), as it sees a potential surprise to the upside for FY02, citing
a 20% unit growth in tax software in light of some major tax law changes. ABN
Amro still maintains its Add rating, but raised its price target for the software
company from $40 to $48.
Retailer American Eagle Outfitters
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reported a Q3 net of 42 cents a share, beating analysts’ estimates by a penny.
Lehman Brothers initiated coverage on
insurance underwriter Jefferson-Pilot
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target of $55.
Whole Foods
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by Lehman Brothers from Strong Buy to Buy and gave the company a price target of
$46.
Prudential Securities lowered its
rating on Citigroup
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UBS Warburg cut ratings on credit card
companies Capital One Financial
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Corp.
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ICN Pharmaceuticals
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confirmed its plan to spin-off its Ribapharm biotechnology unit.
Krispy Kreme Doughnuts
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posted a Q3 net of 11 cents a share, beating analysts’ consensus by a penny.
Revenues for the company increased 28.1%.