mohamad
08-01-2003, Wed 3:40 PM
In a morning note, Credit Suisse First Boston downgraded Solectron (SLR: Research, Estimates) to "underperform" from neutral," citing the supply-chain software company's valuation and the recent run-up in the stock. Shares of Solectron gained 36 cents to $4.35 Tuesday.
Credit Suisse upgraded Sanmina-SCI (SANM: Research, Estimates) to "neutral" a day after the company announced a three-year $3.6 billion deal to build workstations for IBM (IBM: Research, Estimates). Shares of the electronics manufacturing service provider rose 47 cents to $5.05 Tuesday.
Merrill Lynch lowered its first-quarter earnings estimate for Dow component Disney (DIS: Research, Estimates) to 15 cents a share from 17 cents, citing box office weakness and cable costs. Shares of the media and entertainment company fell 20 cents to $18.05 Tuesday.
Merrill raised its fourth-quarter and 2002 estimates for MGM (MGM: Research, Estimates), saying the release of the studio's newest James Bond film, "Die Another Day," boosted revenue. Shares of MGM fell 8 cents to $13.83 Tuesday.
The firm also forecast an almost a 25 percent increase in fourth-quarter earnings for the newspaper publishers it follows, and said it expects advertising revenue to grow 4 percent to 4.5 percent in 2003 and 6 percent in 2004. In the morning note, Merrill said Dow Jones (DJ: Research, Estimates)' earnings for the quarter likely would drop 28 percent, however. Shares of Dow Jones fell 37 cents to $44.96 Tuesday.
Merrill raised its fiscal first-quarter estimate for Hewlett-Packard (HP: Research, Estimates) to 29 cents per share from 27 cents and to $1.23 from $1.21 for the year, citing a strong holiday sales season. Shares of the computer and printer company rose 30 cents to $19.95 Tuesday.
Credit Suisse upgraded Sanmina-SCI (SANM: Research, Estimates) to "neutral" a day after the company announced a three-year $3.6 billion deal to build workstations for IBM (IBM: Research, Estimates). Shares of the electronics manufacturing service provider rose 47 cents to $5.05 Tuesday.
Merrill Lynch lowered its first-quarter earnings estimate for Dow component Disney (DIS: Research, Estimates) to 15 cents a share from 17 cents, citing box office weakness and cable costs. Shares of the media and entertainment company fell 20 cents to $18.05 Tuesday.
Merrill raised its fourth-quarter and 2002 estimates for MGM (MGM: Research, Estimates), saying the release of the studio's newest James Bond film, "Die Another Day," boosted revenue. Shares of MGM fell 8 cents to $13.83 Tuesday.
The firm also forecast an almost a 25 percent increase in fourth-quarter earnings for the newspaper publishers it follows, and said it expects advertising revenue to grow 4 percent to 4.5 percent in 2003 and 6 percent in 2004. In the morning note, Merrill said Dow Jones (DJ: Research, Estimates)' earnings for the quarter likely would drop 28 percent, however. Shares of Dow Jones fell 37 cents to $44.96 Tuesday.
Merrill raised its fiscal first-quarter estimate for Hewlett-Packard (HP: Research, Estimates) to 29 cents per share from 27 cents and to $1.23 from $1.21 for the year, citing a strong holiday sales season. Shares of the computer and printer company rose 30 cents to $19.95 Tuesday.