Spotlight Stocks: Brocade, Citigroup, Comcast, New York Times-Minyanville

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Spotlight Stocks: Brocade, Citigroup, Comcast, New York Times

Minyanville Staff Feb 15, 2008 7:35 am

Spotlight Stocks: Brocade, Citigroup, Comcast, New York Times


		Friday's top stories and stocks with potential to move.

Stocks to watch for Friday, February 15, 2008:

Brocade Communications (BRCD) reported fiscal 1Q net income of $19.8 million, or 5 cents a share, down from $33.3 million, or 12 cents a share a year ago. Excluding items, per-share earnings remained flat at 16 cents. Revenue came in at $347.8 million, up from $224.2 million a year ago.
Citigroup's (C) leveraged fund, Falcon Plus Strategies, dropped 52% in the 4Q. According to the Wall Street Journal, investors were warned to expect additional losses as the fund tries to dump some of its battered holdings. Exposure to subprime mortgages were factored into the decline.
Comcast (CMCSA) said it will start paying a dividend of 25 cents a year and buy back $7 billion in stock by the end of 2009. After the company reported earnings, investors demanded the company return more cash to shareholders.
New York Times (NYT) said it plans to cut its newsroom staff by about 100 positions this year as the newspaper struggles with circulation and print ad sales. According to spokeswoman Catherine Mathis said executive editor Bill Keller, the company will reduce by "not filling newsroom positions, attrition, buyouts and, if necessary, layoffs."
Chipotle Mexican Grills (CMG) reported 4Q net income of $17.5 million, or 53 cents a share, from $10.8 million, or 33 cents a share, a year earlier. Revenue increased to $288.9 million from $219.7 million, as comparable restaurant sales grew 10.6%, according to Dow Jones. Analysts surveyed had expected earnings of 55 cents a share on revenue of $289 million.
Clear Channel Communications (CCU) reported 4Q net income increased to $320.6 million, or 65 cents a share, from $211.3 million, or 43 cents a share, a year earlier. The gain was attributed in part to a $46.9 million increase on foreign exchange.

Market Recap

Asian trading closed withe the Hang Seng +0.53%, Nikkei -0.03%, Sensex +1.96%, Taiwan +0.14% and Shanghai -1.21%.
A quick check across the pond finds the CAC -0.95%, DAX -0.35%, FTSE -0.59%, ATX -1.44%, Swiss Mkt. -0.79% and Stockholm -0.29%.
In commodities, crude oil is trading lower -0.05 to 95.41 while gold is higher +2.7 to 910.1 this morning.

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Bradd Mioove

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05-19-2008, 1:58 am
The San Diego Securities Law Firm Miller & Milove is currently investigating claims on behalf of investors suffering losses in variious CITIGROUP FALCON FUNDS. Miller & Milove has successfully represented deffrauded investors for more than 2 Read More


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