more market chatter and more yahoo set up crap... is this blatant or what?
Edited by Thomas Granahan
Of DOW JONES NEWSWIRES
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11:58 (Dow Jones) U.S. Bancorp Piper Jaffray analyst Safa Rashtchy believes
an outside investment in Yahoo! (YHOO) is the most likely of the possible
scenarios for the company's impending announcement. A warning of soft 1Q
results becomes less likely the longer the trading halt in Yahoo! shares lasts,
he says. And Rashtchy doubts rumors of a merger with eBay (EBAY), saying eBay
doesn't need Yahoo because it has a secure lock on the online auction market.
An investment from a media company like Vivendi Universal (V) makes the most
sense because it could help restore investor confidence in Yahoo, and would
give Yahoo important international distribution. (PDL)
11:49 (Dow Jones) Affymetrix Inc. (AFFX) shares fell after the company warned
in an 8-K filing to the SEC that it found errors in a tool used in analyzing
mouse cells and tissues. Taking action, Affymetrix has redesigned new arrays,
contacted customers, and estimates the replacements could cost a total of up to
$4 million. Analysts aren't too concerned because the analysis instrument makes
up a small portion of the sales and the company is capable of replacing and
supplying the new tool within a few weeks. Shares fell 8%. (BMM)
11:38 (Dow Jones) Growth is nearly at a standstill, but the economy is not
contracting, so this month marks the 10th anniversary of the historic U.S.
expansion. How is Merrill Lynch marking the milestone? By lowering its earnings
expectations for Standard & Poor's 500 companies. The companies will now show a
2% decline in profits from last year, says Merrill chief economist Bruce
Steinberg. "Unhappy tenth." (KJT)
11:30 (Dow Jones) Compaq (CPQ) has acted well lately, but the stock has some
roadblocks to overcome if rally is to extend, says JocelynDrake, of
Schaeffer's Investment. Resistance at $23, and if shares manage to take out
that, next layer rests at $25, which also happens to be stock's 10-month and
20-month moving average. Compaq off 1.9% at $21.78. (TG)
11:22 (Dow Jones) Internet security experts say the latest e-mail virus,
'NakedWife,' appears to have been created at an insurance company in Brazil.
Anti-virus software companies, which analyzed and created shields to protect
their customers from the worm Tuesday, informed law enforcement authorities
that the virus' code included Brazilian footprints. (RR)
11:09 (Dow Jones) Is someone betting that the worst is over in the PC sector?
At least one investor bought a large number of Gateway Inc.'s (GTW)
out-of-the-money, bullish call options that expire in September, likely
expecting Gateway stock to rise above $22.50 by mid-September. The stock today
was at $17.36. At the American Stock Exchange, which captured the bulk of the
trade, Gateway's September 22.50 calls were at $2.30 on volume of 12,500
contracts, compared with open interest of just 116. (KXT)
11:05 (Dow Jones) Goldman Sachs economists, saying personal tax refunds so
far this tax filing season are posting only sluggish year-to-year gains, said
weak refund season "would erode household purchasing power at a very
unfortunate time," just as businesses and policy makers look for a consumption
rebound to keep conomy growing. (JC)
10:59 (Dow Jones) Institutional money market funds have so far seen inflows
for this year that are $100 billion over historical averages, says Merrill
Lynch. Cash should continue to mount on the sidelines going forward, they say. |
