This Trading IPO Prices Tonight…

Stocks drifted lower after lowered chip guidance and
higher oil. Texas Instruments
(
TXN |
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Chart |
News |
PowerRating) lowered its guidance, citing weak big
screen TV sales. The company said customers expected more year end flat screen
and HDTV sales. Bear Stearns said to buy the stock on any weakness. oIL MADE A
5-MONTH HIGH.

Bank of America raised estimates on National Semiconductor
(
NSM |
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Chart |
News |
PowerRating).

Yahoo
(
YHOO |
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PowerRating) was upgraded at UBS, to ‘buy.’ UBS also upgraded
Google
(
GOOG |
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Chart |
News |
PowerRating) to ‘neutral’ from ‘sell.’

Circuit City
(
CC |
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Chart |
News |
PowerRating) rejected the $17 offer from Highlands.

Seagate
(
STX |
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Chart |
News |
PowerRating) raised its Q3 revenue and profit target.

Homebuilders were weak after Ryland
(
RYL |
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Chart |
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PowerRating) lowered its Q1 outlook.

Cendant
(
CD |
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News |
PowerRating) raised its dividend 22%. February saw the most
dividend increases since 1996 and was a record month for payouts.

International Securities Exchange is pricing tonight–10.05 million
shares between $16-$18–above the original $14-$16. It is the largest equity
options exchange–all electronic. Margins are good and options business has
grown 40% in the last year alone. The company will list on the NYSE under the
symbol “ISE.” Bear Stearns and Morgan are the underwriters.

Stocks in the News

Dick’s Sporting Goods
(
DKS |
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Chart |
News |
PowerRating) guided lower.

Qualcomm
(
QCOM |
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Chart |
News |
PowerRating) raised its dividend from 7 cents to nine cents
and doubled its share repurchase authority to $2 billion. Paul Jacobs will be
promoted to CEO, replacing his father, Irwin.

Las Vegas Sands’
(
LVS |
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Chart |
News |
PowerRating) profit Q4 rose sharply.

BHP Billiton
(
BHP |
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Chart |
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PowerRating) will make a $7.3 billion bid for WMC
Resouces
(
WMC |
Quote |
Chart |
News |
PowerRating).