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Spotlight Stocks: Citigroup, eBay, Ryland, Pfizer Minyanville Staff Jan 24, 2008 8:00 am |
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Stocks to watch for Thursday, January 24, 2008:
- eBay (EBAY) reported 4Q net income of $530.9 mln, or 39 cents a share, up 53% from $346.5 mln, or 25 cents a share a year ago. Revenue grew nearly 27% to $2.18 billion. Additionally, Meg Whitman, the company's CEO will retire in March and will be replaced John Donahoe, current president of eBay's auction business.
- Qualcomm (QCOM) reported 4Q net income of $767 mln, or 46 cents a share, compared with $648 mln, or 38 cents a share a year ago. Revenue came in at $2.44 bln, ahead of last year's number of $2.02 bln.
- Pfizer (PFE) reported 4Q net income of $2.88 bln, or 42 cents a share, down about 70% from $9.45 bln, or $1.32 a share a year ago. Pfizer's fourth-quarter sales rose 3.7% to $13.1 billion, and full-year sales increased slightly to $48.6 billion, helped by foreign-exchange fluctuations.
- Ryland Group (RYL) reported a 4Q loss of $201.9 mln, or $4.80 a share, compared with a profit of $87.2 mln, or $1.98 a share a year ago. The homebuilder took pretax charges and write-offs. Revenue dropped to $845.1 mln, down from $1.35 bln a year ago.
- Citigroup (C) said it will abandon plans to open up to 100 US branches a year, while possibly selling or closing some newer branches in areas such as Tampa Bay. According to Reuters, the company will focus on areas like Boston, Miami, New York City and San Francisco.
- Ford (F) is expected to announce an agreement with the United Auto Workers union pertaining to the buyout of as many as 11,000 hourly employees and 2,000 salaried positions. Since 2006, Ford has cut about 44,000 jobs.
Market Recap
- Asian trading closed with the Hang Seng -2.29%, Nikkei +2.06%, Sensex -2.12%, Taiwan +1.47% and Shanghai +0.31%.
- A glance across the pond finds the CAC +4.11%, DAX +5.80%, FTSE +3.88%, ATX +3.10%, Swiss Mkt. +4.25% and Stockholm +3.33%.
- Looking at commodities, crude oil is higher +1.29 to 88.28 and gold is jumping +11.6 to 894.7 this morning.
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