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Stocks To Watch: Intel, Phelps Dodge, Schering-Plough, US Airways, Verizon

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Stocks to watch for Monday, January 29

  • American Express (AXP) said it has named Richard Levin, president of Yale University, to its board. The financial services and travel firm also said it has elected Ronald Williams as a director. Williams is president, chairman and chief executive of Aetna (AET).
  • Citigroup (C) will acquire Egg Banking from Britain's Prudential for about $1.13 billion, but Prudential will continue to provide life and pensions products to Egg's customer base for five years. C also plans to establish a holding company in Japan, an organizational shift that will bring its local units under one umbrella and allow it to make acquisitions more easily in the world's second-largest economy.
  • Datawatch (DWCH) said it has appointed Douglas Zaccaro as interim chief financial officer. Zaccaro succeeds John Hulburt, who is leaving effective Jan. 31.
  • Hospitality Properties Trust (HPT) said the registration statement for its TravelCenters of America LLC spin-off has been declared effective by the Securities and Exchange Commission.
  • Intel (INTC) plans to replace chip materials, saying the move will boost speed while controlling power consumption. IBM and TI also plan similar changes.
  • Mattel (MAT) is expected to post fourth-quarter per-share income of $0.67.
  • Phelps Dodge (PD) is expected to report per-share income of $4.28 for the fourth quarter.
  • Quality Distribution (QLTY) lowered its outlook for the fourth quarter and 2006 primarily due to softer-than-anticipated seasonal demand and an unexpected charge for costs associated with legacy environmental remediation projects. The transportation company said it now sees earnings per share of 3 cents to 7 cents for the fourth quarter, compared with its prior view of 17 cents to 19 cents. For 2006, the company now sees earnings per share of 59 cents to 63 cents, compared with its prior view of 74 cents to 76 cents.
  • Schering-Plough (SGP) is expected to report per-share earnings of 17 cents for the fourth quarter.
  • Sunoco Logistics Partners (SXL) reported fourth-quarter net earnings of $27.9 million, or 80 cents per limited partner unit, up from $13.9 million, or 52 cents per limited partner unit, in the year-ago quarter. Revenue in the three months ended Dec. 31 rose to $1.49 billion from $1.15 billion.
  • Symantec (SYMC) said it has named Thomson S.A. Chairman and Chief Executive Frank Dangeard to its board of directors.
  • Trex (TWP) said it will restate its results for 2003 through 2005 and the first nine months of 2006 to correct errors related to the recording of certain expenses. The maker of composite decking and railing expects the cumulative effect of the restatements to increase its reported net income for 2003 through 2005 by roughly $200,000, and to increase its reported net income for the first nine months of 2006 by roughly $200,000, or 2 cents a share.
  • US Airways (LCC) could lift its hostile offer for Delta by $1 billion. The move is part of a last-ditch effort to gain backing for the acquisition, which has failed to win wide support from Delta's creditors' committee.
  • Verizon Communications (VZ) is expected to report fourth-quarter per-share income of $0.61.


Market Update

  • Asian trading closed with the Hang Seng -0.22%, Nikkei +0.28%, Sensex -0.50%, Taiwan -0.89% and Shanghai +2.18%.
  • A quick check towards Europe finds CAC +0.54%, DAX -0.16%, FTSE +0.13%, ATX +0.01%, Swiss Mkt. +0.67% and Stockholm +0.02%.
  • Gold is down -2.0 to 642.7 and crude oil is up -0.42 to 55.00 this morning.
No positions in stocks mentioned.

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