Weak Opening Ahead of Earnings
Stocks appear set to open lower
Monday as earnings season moves into high gear.
The Wall Street Journal reported that
USA Networks
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USAI |
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the Internet travel company.
Metro One
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MTON |
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outlook from prior forecasts of 25 to 27 cents to 29 to 31 cents.
Icos Corp
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ICOS |
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$8 million payment from Biogen
(
BGEN |
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development of an oral therapeutic drug.
Biotechnology company, Chiron
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was downgraded by Robertson Stephens to Market Underperform from Market Perform.
Isis Pharmaceuticals
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announced that the company will use its antisense technology to help identify
the role of 200 or more human genes which will be supplied by Celera Genomics
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CRA |
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PowerRating)
Earthlink
(
ELNK |
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offer high-speed internet cable service to AOL Time Warner
(
AOL |
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in a number of cities, including New York.
Sanmina
(
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will acquire competitor SCI Systems
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SCI |
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stock.
Citigroup
(
C |
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earnings increased 13% for Q2. The company made 74 cents a share for the
quarter; analysts were expecting 73 cents per share according to Thomson
Financial/First Call.
Agere Systems
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AGR |
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would be leaving the chip market to enter the Universal Serial Bus 2.0, which is
the next generation of clutter elimination of cables on PCs. Agere was formerly
part of Lucent Technologies
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PowerRating).
Continental Airlines
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CAL |
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profits declined more than 70%. Earnings for the quarter were 74 cents. Analysts’
expectations were for 58 cents, according to Thomson Financial/First Call.