Techs Taking Charge

  • July 12, 2001
  • Greg Che

Stocks appeared set to open strong
Thursday.

Software maker, Microsoft
(
MSFT |
Quote |
Chart |
News |
PowerRating)
raised its Q4 revenue target up as much as 12%.

Enron
(
ENE |
Quote |
Chart |
News |
PowerRating) reported Q2 earnings of
45 cents a share which was 3 cents above analysts’ estimates.

Also reporting earnings was First Union
(
FTU |
Quote |
Chart |
News |
PowerRating) who announced Q2 earnings of 66 cents per share, 3 cents ahead of
analysts’ expectations.

Tyco International
(
TYC |
Quote |
Chart |
News |
PowerRating) announced
reaffirmed Q3 estimates, as well as full-year estimates.

Sprint FON
(
FON |
Quote |
Chart |
News |
PowerRating) announced a six-year
deal with Motorola
(
MOT |
Quote |
Chart |
News |
PowerRating). The deal has Motorola supplying equipment and
services for Sprint’s nationwide PCS wireless network.

Numerical Tech
(
NMTC |
Quote |
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News |
PowerRating) issued an
upside pre-announcement for Q3.

Rowan Companies
(
RDC |
Quote |
Chart |
News |
PowerRating) reported Q2
earnings of 36 cents per share. According to Thomson Financial/First Call,
analysts were expecting earnings of 37 cents a share.

Yahoo
(
YHOO |
Quote |
Chart |
News |
PowerRating) reported Q2 earnings
of 1 cent per share. Analysts’ expectations were for the company to break even.
Also Merrill Lynch has upgraded the company to a Near Term Accumulate from Neutral.

Redback Networks
(
RBAK |
Quote |
Chart |
News |
PowerRating) reported a
Q2 operating loss, beating reduced targets.

Millennium Pharmaceuticals
(
MLNM |
Quote |
Chart |
News |
PowerRating)
and ILEX Oncology
(
ILXO |
Quote |
Chart |
News |
PowerRating) in a joint venture announced they had won a
license from the EU to market their MabCampath leukemia drug.

Genetech
(
DNA |
Quote |
Chart |
News |
PowerRating) reported earnings of
19 cents per share, in line with analysts’ expectations according to a survey
taken by Thomson Financial/First Call.

Biotechnology firm IDEC
Pharmaceuticals
(
IDPH |
Quote |
Chart |
News |
PowerRating) announced that it expects earnings to be in
line with analysts’ expectations. Analysts were expecting 15 cents a share
according to Thomson Financial/First Call.

Philips Electronics and AOL Time Warner
(
AOL |
Quote |
Chart |
News |
PowerRating) have joined in a global marketing alliance. The deal entails Philips
consumer products to be advertised through a number of AOL’s channels, including
the Internet, print and television.

Ann Taylor Stores
(
ANN |
Quote |
Chart |
News |
PowerRating) reduced the
company’s full-year forecast from $2.24 to $2.28 per share to $2.16 to $2.20.

Abbott Laboratories
(
ABT |
Quote |
Chart |
News |
PowerRating) announced
Q2 earnings rose 2.9% to 45 cents a share, which was in line with analysts’
expectations according to Thomson Financial/First Call.

General Electric
(
GE |
Quote |
Chart |
News |
PowerRating) reported Q2
earnings of 39 cents a share, in line with analysts’ expectations.

 

 

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