Stocks to watch for Wednesday, September 10, 2008:
 

• Apple (AAPL) saw its shares dip 4%, or $6.24 yesterday to $151.68 as the announced revamped iPod models were what many had expected. The oval shaped iPod Nano models are what CEO Steve Jobs calls the thinnest iPods ever made, at a quarter inch thick. Also announced were three new versions of the iPod Touch. Jobs said Apple has sold 160 million iPods since their introduction in 2001. Additionally, the company announced a truce with NBC Universal (GE), which will allow the programming to once again be sold in the iTunes store.
  
  
• FedEx (FDX) upped its fiscal Q! guidance to $1.23 a share from a previous range of $0.80-$1.00 a share. Consensus estimates are for 95 cents a share. "First quarter results benefited from lower-than-expected fuel costs late in the quarter and stringent cost management," said Alan B. Graf, Jr., executive vice president and chief financial officer.
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• Lehman Brothers (LEH) will announce some "key strategic initiatives today in order to regain investor confidence after Korean Development Bank ended talks of acquiring the bank. The plan could include the sale of a package of British real estate assets to BlackRock (BLK) to raise much-needed capital and survive the credit crisis, reported Reuters. Private equity companies Blackstone (BX) and Kohlberg Kravis Roberts are said to be considering the purchase of parts of LEH's real estate and asset management units, the former being worth about $5 billion.
  
  
• Texas Instruments (TXN) narrowed its quarterly financial forecast, staying close to analyst expectations. The company now estimates earnings between 42-46 cents per share, compared with the previous 41-47 cents. TXN expects revenue of $3.33 billion to $3.47 billion, narrowed from $3.26 billion to $3.54 billion. Analysts are calling for earnings of 44 cents a share on revenue of $3.4 billion.

Market Recap
 

• Asian trading closed with the Hang Seng -2.40%, Nikkei -0.44%, Sensex -1.60%, Taiwan +0.52% and Shanghai +0.23%.
  
  
• A quick check of Europe finds the CAC +0.06%, DAX -0.26%, FTSE -0.79%, ATX-1.47%, Swiss Market -0.28% and Stockholm -0.46%.
  
  
• In commodities, crude oil is trading higher +0.32 to 103.56, while gold is dropping -14.3 to 773.8 this morning.