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updated 00:15, Tue November 06, 2007

Premarket Roundup: WellCare to Issue Preliminary Results, Analysts See Loss for Citigroup

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Among the premarket activity stories for Monday, Nov. 5, from AP Financial News:

NEW YORK (AP) -- WellCare Health Plans Inc., which is being investigated by federal and state authorities, will release preliminary third-quarter financial results Monday.

NEW YORK (AP) -- Analysts expect Citigroup Inc. to post a fourth-quarter loss after the bank said over the weekend it will take an additional $8 billion to $11 billion in writedowns in the quarter.

NEW YORK (AP) -- A Lehman Brothers analyst cut his rating on shares of Merrill Lynch & Co. and Bear Stearns Cos. on Monday, expecting turmoil in the housing sector to weigh on the credit markets and shares of both brokers.

WASHINGTON (AP) -- A measure of business activity in the service sector is expected to show a slight decline in October as the ongoing housing slump threatens consumer spending.

NEW YORK (AP) -- A Soleil Securities Group analyst upgraded Sprint Nextel Corp. Monday, citing third-quarter results in line with forecasts and a recent share sell-off.

NEW YORK (AP) -- A Deutsche Bank analyst downgraded shares of home-improvement retailers The Home Depot Inc. and Lowe's Cos. on Monday, saying that a recovery in the U.S. housing market is further off than he previously thought.

NEW YORK (AP) -- While analysts said Monday that they were disappointed with the opening weekend for DreamWorks Animation SKG Inc.'s "Bee Movie," a Goldman Sachs analyst said the film's gross could still reach Wall Street estimates.

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