Stocks to Watch: Costco, GE, Google, McDonald's, Pepsi
Coming down the homestretch!
Stocks to watch for Friday, October 13
- Acme Packet (APKT) initial public offering of 11.5 million shares priced at $9.50 each, raising more than $109 million, and coming in above the expected range of $8 to $9. Shares of the maker of gear for secure voice over Internet services are due to start trading Friday on the Nasdaq under the symbol "APKT."
- Ametek (AME) said it expects third-quarter and full-year 2006 results to "substantially exceed" its prior outlook due to strong internal growth and contributions from acquired businesses.
- AstraZeneca (AZN) said the Food and Drug Administration has approved Nexium for the treatment of Zollinger-Ellison Syndrome. Nexium, a prescription proton pump inhibitor, is already indicated for the treatment of gastroesophageal reflux disease in adults and children ages 12 to 17.
- Baldor Electric (BEZ) said third-quarter net income rose, as revenue gained, to $12.2 million, or 37 cents a share, from $11.2 million, or 33 cents a share, during the same period in the prior year. Analysts had expected per-share income of 40 cents.
- Boehringer Ingelheim Pharmaceuticals said it has agreed with Johnson & Johnson (JNJ) and Pfizer (PFE) to buy the U.S. rights to the over-the-counter Zantac product line for $509.5 million in cash.
- CalAmp (CAMP) reported second-quarter net earnings of $1.24 million, or 5 cents a share, compared with $3.68 million, or 16 cents a share, during the year-ago period. The wireless equipment provider posted revenue of $57.9 million vs. $57.7 million.
- Centex (CTX) said it now sees second-quarter earnings per share from continuing operations of 65 cents to 75 cents, compared with its July view of $1.40. The company said net sales for the quarter fell 28% to 6,828 orders from the same period in the prior year.
- ConAgra (CAG) said it has named Andre Hawaux chief financial officer, effective Nov. 13. He replaces John Gehring, who was appointed acting CFO last week.
- Costco (COST) said fourth-quarter earnings edged up 1%, driven by a 19% increase in revenue. The retailer said it reviewed its stock-option program and doesn't expect to restate results.
- Delta's CEO said he plans to retire once the carrier emerges from Chapter 11, but would consider a nonexecutive chairman post if the new board lacks airline experience.
- DryShips (DRYS) said it sees third-quarter per-share income cut by 68 cents from the settlement and closing of freight forward agreements entered into in the previous quarters.
- Endo Pharmaceuticals Holdings (ENDP) said a unit has acquired all of the outstanding stock of RxKinetix Inc. for an initial payment of up to $20 million, with the potential for an additional $95 million. Endo sees the deal cutting 2006 adjusted earnings by 2 cents per share, excluding certain expenses.
- EZCorp (EZPW) said it now expects fourth-quarter per-share earnings of 61 cents to 64 cents, up from its previous forecast of 43 cents to 46 cents. Analysts are estimating fourth-quarter earnings of 45 cents a share.
- General Electric's (GE) net income rose 6.1%, as strength in the company's infrastructure division helped offset a lower profit at NBC Universal.
- Google (GOOG) faces copyright fight over YouTube. Time Warner (TWX) upset over the use of its material, 100mln. videos under scrutiny for breaches.
- Hewlett-Packard (HPQ) said it has named Jon Hoak chief ethics and compliance officer. Hoak will be responsible for H-P's adherence to its business conduct standards, and report to Chairman and Chief Executive Mark Hurd until a general counsel is named.
- Home Depot (HD) announced a realignment of its executive structure as the company tries to improve its performance. Two executives are leaving and there will be new roles and reporting duties for others.
- Huntington Bancshares (HBAN) said two items will add 19 cents a share to its third-quarter earnings, which the company expects to be 65 cents a share.
- IHOP (IHP) said third-quarter same-store sales rose 1.3% from the same period in the prior year. The restaurant operator said the growth "was entirely driven" by higher guest traffic.
- Indevus Pharmaceuticals (IDEV) said it has submitted a new drug application to the Food and Drug Administration seeking approval for Sanctura XR to treat patients with overactive bladder.
- La-Z-Boy (LZB) cut its fiscal second-quarter profit forecast on lower-than-expected sales.
- McDonald's (MCD) forecast a 17% increase in third-quarter profit and said September same-store sales rose 7.7%, boosted by breakfast and its new Snack Wraps.
- Microsoft (MSFT) said it has acquired Colloquis Inc., a privately held provider of conversational online business solutions that feature natural language-processing technology. Financial terms weren't disclosed.
- MSC Software (MSCS) said it expects third-quarter revenue of $58 million to $60 million. Software license revenue is estimated to be down about 15% in the quarter. Revenue in this range may result in a small net loss for period.
- Noble International (NOBL) said it has acquired Pullman Industries Inc. for around $120 million, including the assumption of debt and deferred consideration. Noble said Pullman is expected to have 2007 earnings before interest, taxes, depreciation and amortization of $30 million.
- Pepsi's (PEP) CEO raised the snack-and-beverage giant's profit outlook for the year despite higher costs for oranges in the third quarter.
- RailAmerica (RRA) said September's freight carloads fell 6.7% to 100,385 from 107,570 during the same period in the prior year. The rail service provider said the sale of the San Luis and Rio Grande Railroad, the E&N Railway and the three Alberta properties accounted for a decrease in carloads.
- RF Monolithics (RFMI) said it swung to net income in the fourth-quarter, as sales rose, of $77,000, or a penny a share. During the same period in the prior year, the quarterly net loss was $202,000, or 3 cents a share.
- SAIC's (SAI) initial public offering of 75 million shares priced at $15 each, raising $1.13 billion. Shares of the science and engineering firm are due to start trading Friday on the New York Stock exchange under symbol "SAI."
- Sony (SNE) unveiled a new lineup of Walkman portable music players for the holiday season as it tries to wrestle share away from Apple's iPod in an area that it once dominated.
- Wendy's (WEN) agreed to sell its Baja Fresh chain to a group of investors for about $31 million, well below what it paid. The fast-food company's interim CEO vowed to bolster its core brand.
- Asian trading closed with the Hang Seng +0.65%, Nikkei +1.02%, Sensex +1.58%, Shanghai +0.36% and Taiwan +1.21%.
- A quick check towards Europe finds the CAC +0.03%, DAX +0.29%, FTSE +0.29%, and Swiss -0.34%.
- Gold is trading +0.82 to 58.68 and crude oil is trading +0.82 to 58.68.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter