A Good Hair Day for P&G?

Ford will recall 47,000 new Explorers; Salomon upgrades Disney to buy; plus more of today's stocks in the news

UBS Warburg upgraded Palm Inc. ( PALM ) to strong buy from hold.

First Union upgraded Vignette Corp. ( VIGN ) to buy from market perform.

The Wall Street Jourmal reported that Ford Motor (F ) plans to recall about 47,000 of its redesigned 2002 Explorer and Mercury Mountaineer SUVs. CS First Boston downgraded. S&P maintains hold.

Morgan Stanley upgraded Network Associates ( NETA ) to strong buy.

Salomon upgraded Walt Disney ( DIS ) to buy from outperform, and raised its $35 target to $40. Wit soundView raised its estimates and target.

Robertson Stephens Human Genome ( HGSI ) upgraded to strong buy from buy. CS First Boston raised its target.

Robertson Stephens downgraded Level 3 Communications ( LVLT ) to market perform from strong buy.

Proctor & Gamble (PG ) says it will acquire Bristol-Myers' Clairol business for $4.95B cash. S&P maintains accumulate.

Apollo Group (APOL ) says the U.S. Dept. of Education Office of Inspector General reports its contract institution violated statutory prohibition on the use of incentive payments for recruiting.

Speedway Motorsport (TRK ) sees $1.42 2001 EPS, which is lower than the Street's $1.49 estimate.

Vivendi Universal (V ) agreed to buy MP3.com (MPPP ) for a total of $372 million in cash and stock, or $5 per MPPP share.

The Limited (LTD ) posted $0.07 vs. $0.14 Q1 EPS on a slight same-store sales decline amd sees a significant Q2 EPS decline along with a slight fiscal 2002 (Jan) EPS decline.

Pharmacia Corp. (PHA ) received a "not approvable" letter from FDA for Vestra, its investigational antidepressant.

Lowe's Cos. (LOW ) posted $0.58 vs. $0.49 Q1 EPS on 18% total sales rise. Lowe's sees $0.80-$0.82 Q2 EPS, and $2.45-$2.48 for fiscal 2002.

Aquila Inc. (ILA ) raised its $1.25 2001 EPS guidance to about $1.52-$1.62, citing strong Q1 results and continued strength in the North American energy market.

Boston Scientific (BSX ) received IDE (investigational device exemption) approval from the FDA to begin its Victory (Elective and Acute Stenting of Coronary Arteries on Express System) trial using Express coronary stent.

Mandalay Resort (MBG ) posted $0.61 vs. $0.58 Q1 EPS on a 5.6% revenue rise. S&P maintains hold.

Federated Dept. Stores (FD ) authorized an additional repurchase of up to $500M of its common shares.

Aremissoft Corp. (AREM ) set a one-million share buyback.

Maximus Inc. (MMS ) files to offer 3.5 million shares.

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