Weaker Opening For The Broader Markets
Stocks appear set to open lower
Wednesday, less than 24 hours after the Fed left interest rates unchanged.
FedEx Corp
(
FDX |
Quote |
Chart |
News |
PowerRating) posted a net of
39 cents a share for Q3, beating analysts’ estimates by 2 cents. In comparison to
the same quarter a year ago, it too outpaced it by 2 cents.
JP Morgan upgraded IDX Systems
(
IDXC |
Quote |
Chart |
News |
PowerRating)
from Market Perform to Long Term Buy and raised the price target on the stock
from $14 to $19.
Mercury Computer
(
MRCY |
Quote |
Chart |
News |
PowerRating) will hold
a conference call beginning at 9:00 a.m. EST. The call in number is 800-289-0569,
code 47526. MRCY warned last night after the close that earnings will fall short
of previous guidance.
UBS Warburg downgraded Mercury
Computer
(
MRCY |
Quote |
Chart |
News |
PowerRating) from Strong Buy to Hold after the downside pre-announcement
for Q3 from 23 cents to 5 cents a share.
Robertson Stephens upgraded Macromedia
(
MACR |
Quote |
Chart |
News |
PowerRating) from Market Perform to Buy.
Intermagnetics
(
IMGC |
Quote |
Chart |
News |
PowerRating) posted a Q2
net of 22 cents a share, beating analysts’ consensus of 24 cents a share
according to a survey taken by Multex.
According to a report from Bloomberg,
General Electric
(
GE |
Quote |
Chart |
News |
PowerRating) has put in a bid in for Tyco International’s
(
TYC |
Quote |
Chart |
News |
PowerRating)
finance unit. The bid was for between $7.5 and $8.0 billion.
Chevron Texaco
(
CVX |
Quote |
Chart |
News |
PowerRating) was
downgraded by Banc of America from Buy to Market Perform.
CheckFree
(
CKFR |
Quote |
Chart |
News |
PowerRating) was upgraded by
Wachovia from Market Perform to Buy and has a price target of $18.
The CFO of Genesis Microchip
(
GNSS |
Quote |
Chart |
News |
PowerRating)
Pete Mangan has decided to leave the company.
Merrill Lynch downgraded Scientific
Atlanta
(
SFA |
Quote |
Chart |
News |
PowerRating) from Buy to Near Term Neutral.
Lennar Corp
(
LEN |
Quote |
Chart |
News |
PowerRating) reported Q1 net
earnings of $1.03 a share, beating analysts’ estimates by 5 cents a share
according to Multex.