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Stocks to Watch: Google, Intel, IBM, Mattel, SunMicro, Wachovia, Wal-Mart

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Stocks to watch for Tuesday, October 17

  • Benihana (BNHN) said fiscal second-quarter same-store sales rose 9.8% from the same period last year. The Miami-based restaurant chain also said total restaurant sales for twelve-week period ended Oct. 8 rose 7.9%, to $58.6 million from $54.3 million.
  • Callaway Golf (ELY) said it sees a third-quarter per-share loss of 17 cents to 19 cents on sales of $193 million to $195 million. For the same period in the prior year, the golf products company said the per-share loss was 7 cents on sales of $221 million.
  • Disney (DIS) said its characters and brands will only be used on child-focused products that meet healthy dietary guidelines.
  • Google (GOOG) plans to install a massive solar-power system at its headquarters, as technology companies' support for alternative energy is on the rise.
  • Intel (INTC) is expected to report third-quarter earnings of $0.18 a share on revs of $8.61 bln.
  • InterMune (ITMN) said it has entered into a collaboration agreement with Roche (RHHDY) to develop and commercialize products from InterMune's HCV protease inhibitor program.
  • International Business Machines (IBM) is expected to post earnings of $1.35 a share for the third quarter.
  • Kemet (KEM) said it is reducing its headcount by 400 people through a "cost-reduction initiative" in its Mexico facilities. The company sees related costs of $800,000, and annual savings of more than $4 million per year.
  • KLA-Tencor (KLAC) said it expects to record a maximum of $400 million in additional charges for stock-based compensation expenses following the completion of its options probe. Also, Stuart Nichols has resigned as general counsel, and the company has terminated all aspects of its employment relationship with Kenneth Schroeder, former chief executive, effective immediately.
  • Mattel's (MAT) net income rose 6.1%, helped by sales of Barbie and early shipments of TMX Elmo.
  • Memory Pharmaceuticals (MEMY) said the Food and Drug Administration has put the proposed Phase IIa clinical trial of its investigational new drug candidate MEM 3454 for Alzheimer's disease on clinical hold. The FDA required further explanations of revisions that were made to toxicology reports.
  • Merrill Lynch (MER) is expected to post earnings of $1.47 a share for the third quarter.
  • PPD (PPDI) reported third-quarter net earnings of $36.8 million, or 31 cents a share, compared with $35.8 million, or 31 cents a share, during the year-ago period. The pharmaceutical company posted revenue of $313.1 million vs. $273.3 million.
  • Robbins & Myers (RBN) said fourth-quarter net income rose, as sales gained, to $9 million, or 56 cents a share, from $335,000, or 2 cents a share, during the same period in the prior year.
  • Sonic (SONC) said fourth-quarter net income rose, as revenue gained, to $25.5 million, or 29 cents a share, from $22.8 million, or 25 cents a share, during the same period in the prior year. Analysts had expected per-share income of 28 cents.
  • SonoSite (SONO) said it expects third-quarter earnings of a penny to 2 cents a share on revenue of $40 million. The maker of handheld ultrasound equipment said its revenue in the U.S. was lower than expected due to its ongoing sales force transition.
  • Stanley Furniture (STLY) said third-quarter net income fell, as revenue declined, to $3 million, or 26 cents a share, from $5.8 million, or 44 cents a share, during the same period in the prior year. Analysts had expected per-share income of 28 cents. Stanley said quarterly revenue fell to $75.9 million from $85.6 million.
  • Sun Microsystem's (SUNW) is set to introduce a data center in a box -- an array of servers, data-storage devices and networking gear packed into a 20-foot shipping container, making delivery easier.
  • Talisman Energy (TLM) (TLM) said it is initiating a process to sell select properties in North America, and has retained Tristone Capital Inc. to initiate a competitive auction process.
  • Discount retailer Target (TGT) backed its view for October sales growth at stores open at least one year. The company sees growth of 3% to 5%.
  • TCF Financial (TCB) said Barry Winslow is retiring as chief operating officer. Winslow will step down as COO, effective Dec. 31, and will assist with transition activities until his retirement on March 31.
  • Triad Hospitals (TRI) said it expects third-quarter results to be cut by 18 cents per share due to an increase in the allowance for doubtful accounts. The owner of hospitals and ambulatory surgery centers said it sees per-share income from continuing operations for the third quarter of 46 cents to 47 cents, below Wall Street's view of 65 cents.
  • Trimeris (TRMS) said global sales of Fuzeon for the third quarter were $63 million, up 29% from the same period in the prior year. In the United States and Canada, quarterly sales of Fuzeon, an anti-HIV drug, were $33.6 million, up 18% from the prior year. Sales outside the U.S. and Canada for the third quarter were $29.5 million, up 44% from the prior year.
  • UnitedHealth's (UNH) McGuire could leave the company with about $1.1 billion in stock options, retirement payouts and other benefits, an SEC filing shows.
  • United Industrial (UIC) said its AAI Corp. defense unit has received three orders from the Army with a total value for up to $102.6 million. United Industrial said $57.7 million will be funded immediately, and the orders are for production, refurbishment, and repair of equipment for Shadow 200 Tactical Unmanned Aircraft Systems.
  • Universal Forest Products (UFPI) reported third-quarter net earnings of $17.7 million, or 91 cents, down 7.6% from $19.2 million, or $1 a share, during the year-ago period. The wood and wood-alternative products company posted revenue of $672.9 million vs. $721.5 million.
  • US Airways Group (LCC) said Al Crellin, executive vice president of operations, has resigned, effective Nov. 15. The carrier said President Scott Kirby will assume overall responsibility for flight operations, maintenance and safety functions.
  • Wachovia (WB) posted a 13% rise in profit amid a double-digit surge in loan volume, but revenue rose a weak 5.2%. The bank issued a lackluster forecast.
  • Wal-Mart (WMT) agreed to buy a Chinese hypermarket for about $1 billion, in a deal that would expand the firm's reach in China.
  • Werner Enterprises (WERN) reported third-quarter net earnings of $24.6 million, or 31 cents a share, compared with $24.5 million, or 30 cents a share, during the year-ago period. The trucking and logistics company posted revenue of $541.3 million vs. $504.5 million.
  • Yahoo (YHOO) is expected to post earnings of $0.11 a share on revs of $1.14 bln for the third quarter.


Market Update

  • Asian trading closed with the Hang Seng +0.03%, Nikkei -0.49%, Sensex -0.36%, Shanghai -0.42% and Taiwan -1.07%.
  • A quick check towards Europe finds the CAC -0.58%, DAX -0.71%, FTSE -0.36%, and Swiss -0.46%.
  • Gold is trading +1.9 to 600.4 and crude oil is trading +0.58 to 60.52.
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No positions in stocks mentioned.

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