Weaker Opening For Broader Markets
Stocks appeared set to open mixed to
lower Wednesday.
TRW
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directors has unanimously rejected Northrop Grumman’s
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a.m. ET, TRW will be holding a conference call. It will be Webcast at www.TRW.com/investorpresentation.
Basset Furniture
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guidance for Q1, citing stronger-than-expected sales. BSET sees earnings of
between 24 cents and 27 cents a share vs. the consensus of 17 cents a share.
Comtech Telecommunications
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reported a Q2 net of 2 cents a share vs. 26 cents a share for the same
quarter a year ago.
Sequenom
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have formed an alliance to identify high-impact genes which are associated with
diseases.
Goldman Sachs initiated coverage on
Wendy’s
(
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2002.
Morgan Stanley lowered its rating on
the Semiconductor Equipment sector.
Salomon Smith Barney said it is
cautious on PC enterprise demand.
Amgen
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from the European Commission for its rheumatoid arthritis drug.
Merrill Lynch and ABN Amro are
positive on oil stocks.
JP Morgan lowered its estimates on
Intel
(
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PowerRating) for Q2 and 2002, citing a sluggish quarter due to aggressive
price cuts.
Albertson’s
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estimates by 4 cents a share for Q4. The grocery store chain earned 60 cents a
share, while Multex consensus was for 56 cents a share.
Bernstein initiated coverage on the
optical space group with an Overweight rating and initiated ratings of
Outperform on JDS Uniphase
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Market Perform rating on Corning
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PowerRating).