The Stocks Wall Street Is Watching
The following stocks may be
impacted due to significant news as noted:
Prudential has lowered its 2003 earnings estimates
on select brokerages due to events leading to potential military action in Iraq
that have weakened business. Firms with lower estimates are Goldman Sachs
(
GS |
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PowerRating), Morgan Stanley
(
MWD |
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PowerRating), and Merrill Lynch
(
MER |
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PowerRating).
Networking company Cienna
(
CIEN |
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PowerRating) is
rumored to have won a contract with AT&T
(
T |
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PowerRating) worth $50 million.
Biotechs may be mixed on the open as Biogen
(
BGEN |
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PowerRating)
has lowered its earnings guidance for the full year 2003 with new estimates of
$1.63-1.78 vs. previous estimates of $1.69. The company also reported results in
line with fourth-quarter expectations, and Biosite
(
BSTE |
Quote |
Chart |
News |
PowerRating) has raised
its 2003 earnings guidance for the full year 2003 with new estimates of
$1.38-1.46 vs. previous estimates of $1.30. The company also reported results in
line with fourth-quarter expectations.
Tobacco company RJ Reynolds
(
RJR |
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PowerRating) has
issued a profit warning for the first-quarter with new expectations of
$0.70-0.95 per share vs. a previous consensus of $1.27 per share. The company
also beat its fourth-quarter earnings expectations by $0.02 with profits of
$0.41 per share.
In the retail sector, Talbots
(
TLB |
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PowerRating) has
been upgraded by UBS Warburg to "buy" from "neutral".
Home builder Pulte Homes
(
PHM |
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PowerRating) has beat
its fourth-quarter earnings by $0.11 with profits of $2.78 per share.
Pre-market action:
(
MENT |
Quote |
Chart |
News |
PowerRating) +13%,
(
WEL |
Quote |
Chart |
News |
PowerRating) +13%,
(
ITWO |
Quote |
Chart |
News |
PowerRating) +12%,
(
CXI |
Quote |
Chart |
News |
PowerRating) +10.5%,
(
CIEN |
Quote |
Chart |
News |
PowerRating) +3.5%,
(
VTSS |
Quote |
Chart |
News |
PowerRating) +3%,
(
SEBL |
Quote |
Chart |
News |
PowerRating) +2.5%,
(
INTC |
Quote |
Chart |
News |
PowerRating)
+1.2%…
(
BGEN |
Quote |
Chart |
News |
PowerRating) -5.5%,
(
SINA |
Quote |
Chart |
News |
PowerRating) -3.9%,
(
SOHU |
Quote |
Chart |
News |
PowerRating) -3.5%,
(
RANGY |
Quote |
Chart |
News |
PowerRating) -2.5%.