Featured Articles From S&P Personal Wealth.
"S&P Sees Further Weakness for Drilling, Oilfield Services Firms" http://www.personalwealth.com/prn02
With the U.S. drilling rig count at an all-time low, S&P equity analyst Norman Rosenberg sees continued weakness for shares of drilling companies and oilfield service providers. He says consensus earnings per share estimates do not yet reflect the worst-case scenario, and notes that it is this threat of further operating downside that leads him to ignore seemingly attractive prices for many stocks in the industry. He reiterated his 1 STAR (sell) opinions on Baker Hughes (NYSE:BHI), ENSCO International (NYSE:ESV), McDermott International (NYSE:MDR), and Rowan Cos. (NYSE:RDC).
"S&P Upgrades Inland Steel Shares to Hold from Avoid" http://www.personalwealth.com/prn04
Standard & Poor's upgraded shares of Inland Steel (NYSE:IAD) to 3 STARS (hold) from 2 STARS (avoid). Analyst Leo Larkin thinks the worst of the steel industry slump is over, noting that scrap prices are rising, demand remains firm, and imports are receding. He says with industry conditions improving and the stock down some 15% since his August 1998 downgrade, he now sees IAD stock as a market performer. Word on the Street brings you comments every trading day from Wall Street's top equity analysts on stocks or industries that are moving significantly.
"USA Networks to Merge E-Commerce, Internet Assets with Lycos" http://www.personalwealth.com/prn03
USA Networks (Nasdaq:USAI) will merge its e-commerce and Internet assets with the operations of Lycos Inc. (Nasdaq:LCOS). Ticketmaster (Nasdaq:TMCS), which USAI controls, and LCOS will merge and USAI will contribute its Home Shopping Network, Ticketmaster and Internet Shopping Network/First Auction to the venture. USAI will own 61.5% of the combined company, while LCOS shareholders will own 30%. TMCS holders, excluding USAI, will own 8.5%. Other stocks featured in this morning's MarketMovers include K Swiss Inc. (Nasdaq:KSWS), SmithKline Beecham (NYSE:SBH), Duane Reade (NYSE:DRD), Gemstar International (Nasdaq:GMSTF), Times Mirror (NYSE:TMC), Broadcom Corp. (Nasdaq:BRCM), and Minnesota Mining (NYSE:MMM).
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