According to PIR, Morgan Stanley analyst Keith Mullins yesterday lowered his fiscal 1990 earnings forecast for the company to 91 cents a share from 93 cents.
On Friday, Shandwick made its first Canadian purchase, Toronto-based PIR Communications Inc., for as much as $9.2 million.
Mr. Smith told PIR that the brokerage firm is "very comfortable with the company's short- and long-term prospects" and is "especially encouraged that their business held up well over the summer."
The PIR analysis found eight detailed examples of stocks in recent weeks rising sharply, sometimes on huge volume, a day before the Friday publication of the column, which is authored by Gene G. Marcial.
U.S. Bioscience gained 2 3/4 to 37 after Vector Securities International raised its earnings estimates for the Blue Bell, Pa., pharmaceutical maker, PIR reports.
On the morning of the day of the meeting Genentech's stock price had already started to drop when PIR took note.
PIR reported that PaineWebber believes the railroad company may boost its dividend.
The analyst also cut her estimated long-term growth rate for Amgen to 40% a year from 50%, PIR reported.
Summit Technology reversed course and slid 3 3/4 to 21 5/8. Piper, Jaffray & Hopwood analyst Edward Mutsch cut his rating on the stock to "reasonably priced" from "speculative buy" because of recent sharp gains in the stock, PIR reported.
Timothy Andrews, managing editor of PIR, says two brokerage firms had been "saying negative things" about Genentech that morning.