Before the Bell: Yahoo, Nortel, Motorola in focus
MONDAY MORNING’S TOP STORIES
By MarketWatch
Last Update: 8:31 AM ET Feb 11, 2008
Pre-open moves
U.S. stock futures were steady in early action on Monday, with a flood of data
due later in the week that could provide further evidence of the fragile state of
the U.S. economy.
See Indications for full pre-open coverage.
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Global markets
Stocks were mostly lower across Asia in the first day of trading following the
Lunar New Year holiday. In Europe shares faltered on worries over higher oil
prices and an expanded share offering from France’s troubled Societe Generale
bank.
Broker action
Unilever (UN)(UL) was downgraded to neutral from buy at UBS, which said there’s
insufficient upside from current levels to keep a buy rating. The broker said it
assumes margin pressure in 2008 and 2009 and reduced visibility.
UBS upgraded GlaxoSmithKline (GSK) to buy from neutral, saying there’s now a more
favorable valuation after the sell-off following the pharmaceutical’s forecast of
a decline in 2008 earnings.
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Possibly Related Posts:
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- Savings is not a “problem,” but a solution.
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