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Stocks To Watch: Capital One, GE, IBM, Motorola, Xilinx


Finish strong!


Stocks to watch for Friday, January 19

  • Building Materials (BLG) raised its bid again for ElkCorp (ELK) to $42 a share, exceeding the $40.50-a-share offer the roofer agreed to from private-equity giant Carlyle Group.
  • California Micro Devices (CAMD) reported third-quarter net income of $673,000, or 3 cents a share, compared with $2.53 million, or 11 cents a share, in the same period last year, as sales fell and costs rose slightly.
  • Callaway Golf (ELY) said it expects preliminary 2006 sales of $1.018 billion, with earnings per share of 33 cents to 35 cents. Excluding charges, the golf products company sees per-share income of 50 cents to 52 cents.
  • Capital One (COF) reported a 39% jump in fourth-quarter net income, but the results, as well as the credit card and banking company's 2007 forecast, fell short of Wall Street expectations.
  • Churchill Downs (CHDN) said Michael Miller, who has served as chief financial officer since December 2002, is leaving to become CFO of Poe Cos. Miller's final day with Churchill, a horse racing venue operator, will be Jan. 26.
  • CNL Hotels agreed to be acquired by Morgan Stanley Real Estate for about $6.6 billion, or $20.50 a share.
  • Coldwater Creek (CWTR) lowered its outlook for fiscal fourth quarter per-share income to a range of 16 cents to 17 cents. Previously, the women's apparel company said it was looking for a per-share result of 26 cents to 27 cents. Coldwater cited slower-than-expected customer traffic throughout the holiday season.
  • Digi International (DGII) said first-quarter net income rose, as sales gained, to $3.8 million, or 15 cents a share, from $2.18 million, or 9 cents a share, during the same period in the prior year. The company said quarterly revenue rose to $41.8 million from $33.4 million in the prior year.
  • E-Trade Financial (ETFC) said fourth-quarter net income jumped 37% to a record, as customers traded more and stored more cash and investments with the discount broker.
  • General Electric (GE), moving to broaden its diagnostic offerings, will buy Abbott Laboratories' (ABT) in-vitro and point-of-care diagnostics businesses for $8.13 billion in cash. GE said quarterly net more than doubled, helped by growth across most units. The conglomerate also said it overstated its earnings from 2001 through most of 2006 by a total of $343 million.
  • IBM's net rose 11% as sales advanced 7.5%, reflecting strength in services and software. Still, IBM shares fell 5.5% after hours.
  • Jacuzzi Brands (JJZ) said it sees preliminary fiscal first quarter operating income declining primarily due to a 40% drop in income in the Bath segment due to operating losses at the U.S. whirlpool bath operations.
  • JDSU (JDSU) raised its view for fiscal second quarter revenue to a range of $360 million to $365 million. Previously, the communications test products company had said it was looking for revenue of $332 million to $352 million. JDSU cited its Communications Test and Measurement segment performing "particularly well."
  • KeyCorp (KEY) raised its quarterly cash dividend 5.8% to 36.5 cents a share from 34.5 cents a share. The dividend is payable March 15 to shareholders of record as of Feb. 27.
  • Molex (MOLX) reported fiscal second-quarter net income of $66.4 million, or 36 cents a share, up from $58.5 million, or 31 cents a share, a year ago. Revenue at the electrical equipment maker rose 20% to $837.5 million from $697.3 million.
  • Motorola (MOT) said fourth-quarter net income plunged 48%, hurt by disappointing margins in its mobile-devices unit. Revenue rose 17%.
  • Oneok (OKE) raised its quarterly dividend 6.3% to 34 cents a share from 32 cents a share. The gas distributor said the dividend is payable Feb. 15 to shareholders of record as of Jan. 31.
  • Polaris Industries (PII) said it has renewed and extended the employment agreement of Chief Executive Tom Tiller through 2008. Tiller will also continue to serve on the board, the snowmobile and motorcycle maker said.
  • Presstek (PRST) said it expects fourth-quarter consolidated revenue to exceed $65 million, in line with the company's prior outlook excluding revenue from the Precision Analog operations, which was discontinued in the fourth quarter.
  • Schlumberger's (SLB) net rose 71% amid year-earlier charges. Revenue rose 30% at the oilfield-services company.
  • Stride Rite (SRR) raised its quarterly cash dividend 17% to 7 cents a share from 6 cents a share. The maker of shoes said the dividend is payable March 15 to stockholders of record as of Feb. 27.
  • Textron (TXT) said it now expects fourth-quarter earnings from continuing operations will be above its prior outlook of $1.35 a share to $1.45 a share. The company said its improved view is due to stronger financial performance at Cessna, Textron Systems and Textron Financial and a lower tax rate.
  • UnionBanCal (UB) reported fourth-quarter net earnings of $226.4 million, or $1.61 a share, compared with $308.5 million, or $2.09 a share, in the same period last year. Revenue rose slightly to $672.7 million from $665.2 million.
  • Wal-Mart (WMT) faces opposition from several states considering legislation that would bar the retailing giant from opening company-owned bank branches.
  • Washington Post (WPO) raised its annual dividend 5% to $8.20 a share from $7.80 a share.
  • Xilinx (XLNX) said its quarterly profit rose 8% from a year ago, but its sales were soft. Xilinx reported fiscal third-quarter net income of $87.5 million, or 26 cents a share, compared to net income of $81 million, or 23 cents a share, in last year's same period.

Market Summary

  • Asian trading closed with the Hang Seng +0.25%, Sensex -0.25%, Taiwan -0.70%, Shanghai +2.73% and Nikkei -0.35%.
  • A quick look across the pond finds the CAC -0.01%, DAX -0.21%, FTSE -0.27%, Swiss Mkt. -0.24% and Stockholm +0.09%.
  • Crude oil is trading +0.14 to 50.62 while gold is +1.4 to 629.5 this morning.
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