Weaker Opening
Stocks appeared set to open lower
Wednesday after the Fed eased rates by another 50 basis points.
UBS Warburg maintains its Hold rating
on Ciena Corp
(
CIEN |
Quote |
Chart |
News |
PowerRating) and cut its price target to $19 from $24.
Genencor
(
GCOR |
Quote |
Chart |
News |
PowerRating) has signed a
five-year supply contract with Proctor & Gamble
(
PG |
Quote |
Chart |
News |
PowerRating) worth up to $600 million.
GCOR will provide protease enzymes for laundry and dish soaps.
Lehman Brothers downgraded Tricon
Global
(
YUM |
Quote |
Chart |
News |
PowerRating) from Strong Buy to Buy.
Goldman Sachs upgraded Land’s End
(
LE |
Quote |
Chart |
News |
PowerRating)
from Market Perform to Market Outperform.
Linear Technology
(
LLTC |
Quote |
Chart |
News |
PowerRating) was
downgraded by Morgan Stanley from Outperform to Neutral.
Merrill Lynch upgraded International
Game Technologies
(
IGT |
Quote |
Chart |
News |
PowerRating) from Accumulate to Near Term Buy.
Morgan Stanley downgraded Maxim
Integrated
(
MXIM |
Quote |
Chart |
News |
PowerRating) from Outperform to Neutral.
After a two-day rally based on the Cisco
report
(
CSCO |
Quote |
Chart |
News |
PowerRating), Banc of America Securities is cautious on Power-One
(
PWER |
Quote |
Chart |
News |
PowerRating)
citing that there is not much good news for PWER in the report.
Robertson Stephens upgraded ETrade
(
ET |
Quote |
Chart |
News |
PowerRating)
from Buy to Strong Buy.
Panera Bread
(
PNRA |
Quote |
Chart |
News |
PowerRating) reported Q3
earnings of 20 cents a share, beating analysts’ estimates by a penny and outpacing
earning for the same quarter a year ago by 8 cents a share.
ABN Amro lowered its estimates on
Qualcomm
(
QCOM |
Quote |
Chart |
News |
PowerRating) following the company’s earnings report. Estimates for FY02
were lowered from $1.24 to $1.08.