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Street Talk: Gateway cut
CSFB widens loss estimate for the computer maker; Merrill ups Teva forecast.
January 30, 2003: 6:44 AM EST

NEW YORK (CNN/Money) - Some major brokerages weighed in on Gateway, Media General, Occidental Petroleum and Israel-based Teva Pharmaceuticals before the opening bell Thursday.

In a morning note, Credit Suisse First Boston widened its 2003 loss estimate for Gateway (GTW: Research, Estimates) to $1 a share from 50 cents, citing lower gross margin and higher-than-expected costs associated with the computer maker. Shares of Gateway fell 18 cents to $2.92 Wednesday.

Credit Suisse upgraded Occidental Petroleum (OXY: Research, Estimates) to "outperform" from "neutral," citing the petroleum producer's free cash flow and visible growth profile. Shares of Occidental rose 92 cents to $28.69 Wednesday.

The firm also downgraded Media General (MEG: Research, Estimates) to "neutral" from "outperform" and lowered its 2003 earnings estimate for the company, saying it lacks a growth outlook. Shares of the media company fell 47 cents to $56.33 Wednesday.

CSFB increased its 2003 profit estimate for Sierra Health Services (SIE: Research, Estimates) to $1.65 a share from $1.55 after the company raised its forecasts. Shares of the health provider rose 10 cents to $14.72 Wednesday.

Merrill Lynch raised its 2003 earnings estimate for Israel-based Teva Pharmaceutical Industries (TEVA: Research, Estimates) to $1.87 a share from $1.80, citing a strong generic launch of the antibiotic Augmentin and recent approval for a generic version of the antidepressant Remeron. Shares of Teva rose 30 cents to $38.09 Wednesday.

J.P. Morgan upgraded Allied Waste Industries (AW: Research, Estimates) to "neutral" from "underweight," saying its refinancing risk has declined. Shares of Allied Waste fell 58 cents to $9.57 Wednesday.

Lehman Brothers raising its investment rating on AutoZone (AZO: Research, Estimates) to "overweight" from "equal- weight," saying the shares of the automotive parts retailer have already factored in a worst-case scenario. AutoZone shares gained 45 cents to $61.20 Wednesday.  Top of page


-- from staff and wire reports




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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.