NEW YORK (CNN/Money) - Credit Suisse First Boston raised its
investment rating on rail operator CSX ahead of the opening bell
Tuesday, while DB Securities increased its price objective for AOL
Credit Suisse First Boston upgraded CSX (CSX:
to "outperform" from "neutral," saying the company is underearning
its potential. Shares of CSX fell 63 cents to $30.89 Monday.
Merrill Lynch cut its investment rating from on AK
to "neutral" from "buy," citing an outlook for continued losses
based on upwards cost pressures and continued weak demand. AK Steel
slipped 19 cents to $2.45 Monday.
Merrill upgraded Argosy
to "buy," saying the worst is behind the company. The casino
operator fell 11 cents to $20.13 in trading Monday.
DB Securities cut its rating on Lexmark
to "hold" from "buy" in a research note dated July 21. Shares of the
printer maker sank $14.10 to $59.40 Monday, when the company posted
disappointing quarterly results.
DB Securities also raised its 12-month price target on AOL Time
parent company of CNN/Money, to $21 from $19. The media conglomerate
dropped 39 cents to $16.35 Monday.
Lehman Brothers downgraded Dime
Community Bancshares (DCOM:
to "equal weight" from "overweight." Shares of the financial
services company fell a penny to $26.62 Monday.
Lehman upgraded Novellus
to "overweight" from "equal weight" after the company posted
quarterly results that came in-line with expectations. Shares of the
maker of microchip production equipment slid $1.55 to $34.55 Monday.
Lehman also raised its investment rating on Applied
to "overweight" from "equal weight." Shares of the chip equipment
maker fell 31 cents to 17.87 Monday.
Goldman Sachs cut its 2003 profit estimate for Israel's Check
Point Software Technologies (CHKP:
a day after the Internet security company posted in-line second
quarter results, saying license revenue was disappointing and that
the company is not attracting new customers. Check Point slid $2.67
to $17.13 Monday.
-- from staff and wire reports