) is among several leisure, hotel and restaurant stocks trading lower on renewed fears of slowing travel activity following today's plane crash.
Four Seasons (FS
) stock is downgraded by Morgan Stanley, Robertson Stephens and ABN Amro after the company posted third-quarter EPS of $0.51 on Friday.
Among airline stocks, AMR Corp. (AMR
) is seen lower following the crash of American Airlines jetliner Monday morning in New York City.
Arnold & Bleichroeder downgrades Home Depot (HD
) to reduce from neutral.
RF Micro Devices (RFMD
) Merrill says the company is exhibiting market share gains. Merrill reiterates ratings of near term accumulate, long term buy.
Enron Corp. (ENE
) inks a definitive pact to be acquired by Dynegy (DYN
). Enron shareholders will receive 0.2685 Dynegy shares per Enron share. Separately, press reports say that J.P. Morgan (JPM
) and Citibank (C
) are mulling a $500 million investment in Enron.
Ciena Corp. (CIEN
) sees fourth-quarter EPS of $0.04-$0.06 excluding items, versus $0.04
consensus, on 27% higher revenues. The company plans to cut its workforce by 380 employees, about 10%.
Needham downgrades Applied Materials (AMAT
) and Novellus (NVLS
) to buy from strong buy.
) extends its current supply agreement with Wal-Mart (WMT
). McKesson will be awarded the pharmaceutical repackaging business previously managed by Wal-Mart.
) says it saw positive interim results from a post-marketing clinical trial comparing use of Infergen plus ribavirin to use of interferon alfa-2b plus ribavirin for treatment of chronic hepatitis C infections.
Loews Corp. (LTR
) files with the SEC to offer shares of Carolina Group stock, a new class of its common stock.