The Stocks Wall Street Is Watching
The following stocks may be
impacted due to significant news as noted:
Computer hardware maker Dell Computer
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has had its earnings estimates raised by JP Morgan who believes the company will
benefit from increased market share and strength in industry standard servers.
Morgan believes the company may guide above its fourth-quarter consensus.
Also in the computer hardware biz, Dow component
Hewlett Packard
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PowerRating) has had its estimates cut by JP Morgan which claims
the company’s enterprise segment is improving slower than expected. Full year
2003 estimates have been cut to $1.4 from $1.20.
Shipping company Federal Express has been
downgraded by Deutsche Bank to “hold” from “buy” based on valuation.
Investment banks JP Morgan
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and Bank One
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PowerRating) are being reported by the Financial Times to be
the target of a lawsuit over allegations that the companies breached their
fiduciary duties at National Century Financial Enterprises. Total claims for the
suit are for $1 billion.
Financial services company H&R Block
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is the focus of a negative Wall Street Journal article which raises questions
over how the company will perform if interest rates rise and stop the
refinancing boom.