Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

BoA Downgrades Cytyc to 'Market Perform'

Banc of America downgraded Cytyc (CYTC) to market perform from buy.

The FTC is set to block the acquisition of Digex. Analyst Kurt Kruger says the FTC vote crushing a blow; he had counted on Digex for the next leg of growth as the company's base Pap smear market matures. He sees Cytyc getting about $7 million in 2003 from a marketing agreement with Digex vs. the $135 million former sales forecast from Digex as a unit of Cytyc. He notes lukewarm receptivity to the company's ductal levage product. He says it is likely this won't change his rating until he is confident the company has established its next leg of growth beyond 2003. Kruger sees $0.57 2002 earnings per share, and cut the $0.91 2003 estimate to $0.78.

blog comments powered by Disqus