Stocks to watch for Thursday, May 1, 2008:

• AT&T (T) has plans to launch a television service next week for its cellphones. According to The Wall Street Journal the service will offer programs from several major TV networks, including CBS, Comedy Central, NBC and Fox.
• American Airlines (AMR) and British Airways are in talks to broaden their Oneworld Alliance by adding  Continental (CAL). The companies seek antitrust immunity to set prices and schedules, people familiar with the talks said.
• Cablevision (CVC) plans to bid up to $650 million for Newsday, the daily newspaper from Long Island according to people familiar with the thinking of Cablevision executives. News Corp. (NWS) is currently the leading bidder at $580 million, reported The Wall Street Journal.
• Cigna Corp. (CI) reported 1Q profit of $58 million, or 21 cents a share, down 80% from $289 million, or 98 cents a share a year ago. The company cited reinsurance losses and litigation charges for the loss, and also guided lower saying full-year earnings may miss expectations amid challenges in its health care segment. Revenue rose to $4.57 billion from $4.37 billion a year ago.
• Microsoft (MSFT) held a board meeting yesterday in order to discuss its bid to acquire Yahoo (YHOO) for $41.8 billion. The company however didn't reach a final decision. MSFT has indicated willingness to raise its bid to $33 a share, but which would fall short of Yahoo shareholders' desired $35-$37 a share.
• Starbucks (SBUX) reported fiscal 2Q net income of $108.7 million, or 15 cents a share, down 28% from $150.8 million, or 19 cents a share a year ago. Revenue rose 12 percent to $2.53 billion from $2.26 billion. The company willcut its openings of new US stores due to economic uncertainty, but says it has a three-year plan in place for new drinks and future profit growth fueled by aggressive international expansion.

Market Recap

• In Asian trading, the Nikkei closed lower -0.60%. Over in Europe, the lone market still ticking is the FTSE at +0.26%.
• In commodity land, crude oil is trading higher +0.15 to 113.61 and gold is also up +4.3 to 869.40 this morning.

• STOCKS
• RELATED ARTICLES
• ALSO BY...

SEARCH:

Market Strong Despite Bad Macro News
Buzz of the Street: Gold 1100?
Strange Days
Dear Mr. Bernanke, A Note to Say Thanks
Debunking the Dollar's Demise

Trading Radar: Walmart Gets in Holiday Spirit
How the VIX Spike Will Affect 2010
TV's New Reality
Why Government Involvement in Health Care Is National Suicide
Trading Radar: Unemployment Expected to Climb