St. Jude Medical, Inc., Starbucks Corp., and Nike, Inc. Upgraded by Weiss Ratings; 1,516 Stocks...

Business & Finance Editors

PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--April 30, 2003

St. Jude Medical, Inc., Starbucks Corporation, and Nike, Inc. were among the 1,516 stocks upgraded by Weiss Ratings during its latest quarterly review of 6,383 stocks.

In contrast,

St. Jude Medical, Inc. (NYSE:STJ; Saint Paul, Minn.) was upgraded to A (Excellent) from B (Good) due to increased profitability. Earnings per share jumped 32 percent to $1.51 per share in the first quarter of 2003 compared to $1.14 per share at year-end 2002. The company also paid off all its long-term debt last year.

The upgrade also reflects improvement in St. Jude's stock price, which has trended higher during the past few months.

Starbucks Corporation (NYSE:SBUX; Seattle, Wash.) was upgraded to A- (Excellent) from B- (Good) due to a 33 percent increase in earnings per share in first quarter 2003 compared to the same period last year. Sales revenue rose 24 percent, from $805 million in the first quarter of 2002 to $1 billion in the first quarter of 2003.

The company has benefited from the introduction of new products aimed at younger customers and the launch of a Starbucks debit card.

Nike, Inc. (NYSE:NKE; Beaverton, Ore.) was upgraded to B (Good) from C (Fair) based on improved profitability. Earnings per share increased to 57 cents in the first quarter of 2003 from 48 cents a share in 2002. In addition to the strong performance of the company's international division, Nike recently increased the quarterly dividend on its stock to 14 cents a share from 12 cents a share.

1,550 Stocks Receive Downgrades by Weiss

Coca-Cola Enterprises (NYSE:CCE; Atlanta, GA) was downgraded to C (Fair) from B (Good) due to the company's high debt to equity ratio of 3.59. In addition, Coca-Cola's stock price has been fairly volatile over the past few months, while its current ratio has fallen below 1.00.

General Mills, Inc. (NYSE:GIS; Minneapolis, Minn.) was downgraded to C (Fair) from B (Good) due to a decline in profitability and a relatively flat stock price. Earnings per share fell 23 percent in fiscal year 2002 to $1.70 a share, compared to $2.20 a share in 2001.

Meanwhile, the company's long-term debt surged from $2.2 billion at December 31, 2001 to $5.6 billion at year-end 2002, giving General Mills a debt to equity ratio of 2.33.

Schlumberger LTD (NYSE:SLB; New York, N.Y.) was downgraded to D (Weak) from C (Fair) based on its decline in profits. Sales revenue dropped to $13.6 billion in 2002 from $13.7 billion in 2001. Likewise, earnings have been on a downward track, with the company reporting a $2.3 billion loss in 2002 compared to a $522 million profit in 2001.

Schlumberger's book equity declined substantially during this period, and its stock trades at a very high price to book value of 4.12.

Investors needing more information on the investment quality of a specific stock can purchase a rating and summary analysis for as little as $7.95 through www.WeissRatings.com, or starting at $15 by calling 800-289-9222.