Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stocks to Watch: Delta, Goodyear, Kohl's, Mattel, Oshkosh, Wachovia


Start with a clean slate!


Stocks to watch for Monday, October 16

  • Andersons (ANDE) and Marathon Oil (MRO) said they have agreed to form a 50/50 joint venture to construct one or more ethanol plants. Andersons will provide day-to-day management.
  • Chrysler (DCX) is encountering resistance from big dealers to its efforts to shrink its inventory of unsold vehicles. The development may make it harder for the auto maker to bounce back from an expected loss in the third quarter.
  • Teamster representatives said the union has reached a tentative agreement with Delta Air Lines (DALRQ) Comair Airlines. By Nov. 14, about 1,000 flight attendants will vote on the agreement, which strengthens job security and caps health insurance payments, according to the union.
  • Enzo Biochem (ENZ) said the fourth-quarter net loss widened, as revenue fell, to $4.51 million, or 14 cents a share, from a net loss of $1.47 million, or 6 cents a share, during the same period in the prior year.
  • Gemstar-TV Guide International (GMST) said it has filed a patent infringement suit against Digeo Inc., alleging that Digeo has willfully infringed patents through its Moxi interactive program guide.
  • General Mills (GIS) said it is voluntarily recalling 13-ounce boxes of Golden Grahams cereal produced on certain dates because milk, a potential allergen, is not listed as an ingredient on the label although the product may contain it.
  • Goodyear Tire & Rubber (GT) said it has borrowed $975 million under an existing revolver. A United Steelworkers strike began Oct. 5 at 16 facilities in the United States and Canada, and the borrowing will provide "additional cash in the unlikely event of a prolonged strike," said Richard Kramer, chief financial officer.
  • Intergraph (INGR) said a shareholder meeting is scheduled for Nov. 20 to vote on a proposed acquisition of the company to take in a $1.3 billion deal.
  • Kohl's (KSS) in a Securities and Exchange Commission filing said it has entered a credit agreement with various lenders for a $900 million senior unsecured 5-year revolving credit facility.
  • Liz Claiborne (LIZ) chose J&J official William L. McComb to succeed its retiring CEO, in a surprise move by the big fashion firm.
  • Mattel (MAT) is expected to report earnings per share for the third quarter of $0.61. Mattel's net income rose 6.1%, helped by sales of Barbie and early shipments of TMX Elmo. The toy manufacturer's revenue rose 7.5%.
  • Oshkosh (OSK) is buying building-equipment maker JLG in a deal valued at about $3 billion, positioning itself to take advantage of the global boom in nonresidential construction.
  • Realogy (H) said it has priced its previously announced offering of senior notes, which has been increased to $1.2 billion from $800 million.
  • Sempra Energy (SRE) has settled a lawsuit filed against the company by the state's Public Utilities Commission and attorney general. The lawsuit was related to service curtailments of certain industrial natural gas customers in 2000 and 2001. The San Diego-based gas and electric utility said the after-tax cost of the settlement is less than $5 million and will have no material effect on 2005 earnings.
  • Sonic (SONC) is expected to post income of $0.28 for the fourth quarter.
  • TeleCommunication Systems (TSYS) said it plans to record a one-time non-cash goodwill impairment charge of $8 million to $9 million in the third quarter. The maker of wireless data communications technology said the charge is to reduce the book value of its enterprise division goodwill included in the assets of discontinued operations on the company's balance sheet.
  • United Health (UNH) CEO McGurie agreed to leave the insurer after an internal probe concluded the stock-option grants that have brought him a huge fortune were likely manipulated.
  • Wachovia (WB) is expected to report earnings of $1.19 per share for the third quarter.

Market Update

  • Asian trading closed with the Hang Seng +0.12%, Nikkei +0.94%, Sensex +1.51%, Shanghai -0.75% and Taiwan +1.05%.
  • A quick check towards Europe finds the CAC +0.06%, DAX +0.18%, FTSE +0.36%, and Swiss -0.05%.
  • Gold is trading +3.7 to 596.4 and crude oil is trading +0.21 to 58.78.
< Previous
  • 1
Next >
No positions in stocks mentioned.

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.

Featured Videos