Global Crossing (GX) 14.26 +0.46: -- Update -- In their Noon Research note, Prudential reiterates STRONG BUY on the fiber-optic network company following strong Q1 numbers; GX's network now 90% complete; interprets numbers as reflecting strong demand growth and company's successful transition to a global service provider from its subsea fiber roots.
Applied Materials (AMAT) 52.97 +1.93: Earlier today, AG Edwards upgrades to BUY from MAINTAIN POSITION; however firm also lowers estimates for the next several quarters; believes long-term story is quite bright relative to others in the equipment group; expects company to likely meet lower range and EPS for Q3, but may guide numbers lower for upcoming quarter.
14:00 ET Dow +89, Nasdaq +4, S&P +6.35: [BRIEFING.COM] The broader market remains mixed, and outside the retail sector, trading has been fairly lackluster... Nonetheless, bulls have to be feeling pretty good about the market's performance of late as it has digested bad news without much concern, clinging to an expectation that the worst has passed for capital spending slowdowns and layoff announcements... The Fed's aggressive easing actions, the surprising rate cut by the ECB today, new leadership in Japan, and an impending tax cut are among the factors feeding their optimism... Earlier today, the Senate approved a budget plan that paves the way for a 10-yr, $1.35 tln tax cut... DJTA +1.2%... SOX +2.6%... Nasdaq 100 +0.1%... S&P Midcap 400 +0.5%... Russell 2000 +0.5%... NYSE Adv/Dec 1833/1140... Nasdaq Adv/Dec 1980/1668. |
