(AP) - Among the premarket stories for Monday, May 12, from AP Financial
News:
NEW YORK (AP) -- After FedEx Corp. cut its fiscal 2008 forecast this
weekend, analysts said higher fuel costs and decreased demand will weaken the
shipping company's profit into fiscal 2009 as well.
NEW YORK (AP) -- A JPMorgan analyst says strong first-quarter results from
dollar store operator Dollar Tree show the company may be on its way to beating
expectations this year. He upgraded the stock to "Neutral" from "Underweight."
NEW YORK (AP) -- Shares of Pacific Sunwear of California Inc. fell sharply
in premarket trading after an analyst downgraded the teen apparel company late
Friday, citing its sluggish same-store sales.
NEW YORK (AP) -- A Goldman Sachs analyst downgraded American International
Group Monday, days after the world's largest insurer posted a $7.81 billion
first-quarter loss.
NEW YORK (AP) -- LM Ericsson Telephone Co. shares slipped in premarket
trading Monday as investors overlooked an upgrade of the wireless equipment
maker.
NEW YORK (AP) -- A PiperJaffray analyst upgraded Zoran Corp., expecting the
company to post higher revenue and better margins in the coming quarters as
demand for electronic devices climbs.
NEW YORK (AP) -- A JPMorgan analyst upgraded shares of El Paso Corp. on
Monday, saying the oil and gas exploration and transportation company is
steadily improving performance while its stock remains underpriced.
NEW YORK (AP) -- Apple shares are edging up in premarket trading after a
Piper Jaffray analyst said the company may launch a new version of the iPhone in
mid-June.
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