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Stocks to Watch: Apple, Advanced Micro, Boston Scientific, Coca-Cola, Google, Time Warner




Stocks to watch for Thursday, October 19

  • Albemarle (ALB) posted third-quarter net earnings of $2.3 million, or 5 cents a share, compared with $26.3 million, or 55 cents a share, in the same period last year. Excluding a $1.20-a-share charge related to the divestiture of a facility in Thann, France, per-share earnings were $1.25.
  • Apple's (AAPL) fourth-quarter profit rose 27% on higher sales of the company's line of iPod digital media players and its signature Macintosh computers
  • Advanced Micro Devices (AMD) said its quarterly profit rose 76% as it sold more chips used in personal computers and corporate servers. AMD said third-quarter net income was $134 million, or 27 cents a share, versus net income of $76 million, or 18 cents a share, in last year's same period.
  • Allstate (ALL) reported third-quarter net income of $1.16 billion, or $1.83 a share. A year earlier, the company lost $1.55 billion, or $2.36 a share.
  • Aztar (AZR) earned $23.3 million, or 60 cents a share, in its third quarter, up from $19.4 million, or 51 cents a share a year ago. Adjusted to exclude various charges and gains, the company would have earned 54 cents a share.
  • Bayer AG's (BAY) Bayer Healthcare subsidiary said it has signed an agreement with Regeneron Pharmaceuticals (REGN) to develop and market the VEGF Trap-Eye for the treatment of eye disease outside the United States. The companies plan to jointly market the trap-eye outside of the U.S. and equally share profits, while Regeneron retains exclusive marketing rights in the U.S. and will keep the profits from sales in that country.
  • Boeing (BA) said it has signed a $1.07 billion contract, pending full funding by Congress, with the U.S. Air Force to build three more Wideband Gapfiller Satellites, designed to support U.S. military communications.
  • Boston Scientific (BSX) reported net income of $76 million, or 5 cents a share, on revenue of $2.03 billion for the quarter ended Sept. 30. In the same period last year, the medical device maker lost $269 million, or 33 cents a share, on revenue of $1.51 billion.
  • Broadcom (BRCM) is expected to report per-share earnings of 36 cents in the second quarter.
  • Capital One Financial (COF) reported a third-quarter net profit of $588 million or $1.89 a share. Revenue for the period rose 22% to $3.1 billion.
  • Citigroup (C) is expected to report third-quarter earnings of $1.03 a share. C's net incomme fell 23%, as the firm was hurt by lower-than-expected results from its capital-markets businesses. Revenue was flat.
  • City National (CYN) reported third-quarter net earnings of $59 million, or $1.20 a share, compared with $59.8 million, or $1.17 a share, during the year-ago period. The company posted net interest income on a fully tax-equivalent basis of $152 million vs. $159.3 million a year ago.
  • Coca-Cola (KO) is expected to post per-share earnings of 59 cents in the third quarter.
  • Cosi (COSI) said third-quarter comparable sales fell 4.2% from last year due to lower customer frequency. As a result, the Deerfield, Ill.-based franchise owner and restaurant operator expects a per-share third-quarter loss of 5 cents excluding stock-based compensation.
  • EBay (EBAY) said third-quarter net profit rose to $280.9 million, or 20 cents a share, from $255 million, or 18 cents, a year earlier, when eBay didn't include option costs on its income statement. Excluding stock option expenses, eBay said net income would have risen 30% to $332 million, or 23 cents a share.
  • Gilead Sciences (GILD) posted a third-quarter net loss of $52.2 million, or 11 cents a share. A year earlier it posted a profit of $179.2 million, or 38 cents a share. Excluding items, it earned 64 cents a share.
  • Google (GOOG) is expected to post earnings of $2.42 a share in the third quarter.
  • Hewlett-Packard (HPQ) reclaimed the No. 1 spot in world-wide PC shipments from Dell in the third quarter, a prominent research firm said, though another put the two companies in a statistical tie.
  • Horizon Lines (HRZ) now expects third-quarter per-share earnings of $1.57 to $1.59, up from its previous outlook of 40 cents to 42 cents. The increase is due to the company's decision to adopt the tonnage tax in lieu of the regular federal corporate income tax.
  • Hypercom (HYC) said it expects to post close to breakeven results in the third-quarter. The Phoenix-based company sees revenue for the period of $56 and $58 million, below its prior expectations.
  • IMS Health (RX) said third-quarter net income was $69.3 million, or 34 cents a share, compared with $71.1 million, or 30 cents a share, from a year ago. Sales were $482.7 million vs. last year's $432.8 million. Without one-time expenses, the company would have reported income of 39 cents a share.
  • J.P. Morgan (JPM) said net profit rose 30% on record investment-banking fees, as the firm weathered a difficult interest-rate and market environment.
  • Kinder Morgan (KMI) reported third-quarter net earnings of $144.2 million, or $1.07 a share, up from $109.1 million, or 88 cents a share, a year ago. Operating revenue for the three months ended Sept. 30 totaled $2.83 billion, up from $246.7 million a year ago.
  • NBC Universal is slashing its news budget and abandoning high-cost dramas in the 8 p.m. hour as part of an overhaul that aims to cut operating expenses by $750 million.
  • Radian Group (RDN) reported third-quarter net earnings of $112 million, or $1.36 a share, down 31% from $162.6 million, or $1.88 a share, in the year-ago period. Revenue at the credit risk management company fell to $321.8 million from $382.6 million, while net written premiums dropped to $254.8 million from $313.9 million.
  • Ryland Group (RYL) reported third-quarter net earnings of $87.9 million, or $1.97 a share, compared with $118 million, or $2.39 cents a share, in the same period last year, beating market expectations. Analysts polled by Thomson had expected per-share earnings of $1.77.
  • Steel Dynamics (STLD) said net income for the third quarter more than doubled from the year ago period, to $119 million, or $2.17 a share, from $45.4 million or 92 cents a share a year ago. Sales jumped 83% to $912 million, on higher shipping volumes and steeper prices.
  • Teradyne (TER) swung to a third-quarter net profit of $60.6 million, or 31 cents a share, as the company's gross profit almost doubled and expenses fell. In the same period last year, the Boston-based maker of automatic test equipment posted a net loss of $35.4 million, or 18 cents a share.
  • Time Warner (TWX) filed a registration statement yesterday with the SEC for an offering of 16% of Time Warner Cable stock. The stake to be offered is now held by Adelphia, which is in bankruptcy.
  • Tribune (TRB) said the board's independent special committee has retained Morgan Stanley as its financial adviser.
  • Torchmark (TMK) posted third-quarter net earnings of $129 million, or $1.28 a share, up 8% from a year earlier when the life insurer made $119 million, or $1.14 a share. Net operating income before option expense for the quarter was $127 million, or $1.27 a share, vs. $122 million, or $1.16 a share in the same period last year.
  • Washington Mutual (WM) said third-quarter profit fell 8.8% as the company took a combined $64 million, or 7 cents a share, in after-tax charges. Net income at the Seattle-based thrift was $748 million, or 77 cents a share, down from $821 million, or 92 cents a share, for the same period last year.

Market Update

  • Asian trading closed with the Hang Seng -0.34%, Nikkei -0.61%, Sensex -1.05%, Taiwan -0.31%, Shanghai +0.28% and Jakarta -0.26%.
  • A quick check across the pond finds greener pastures with the CAC -0.09%, DAX -0.14%, FTSE +0.02%, ATX -0.56%, Swiss Mkt -0.51% and Stockholm -0.51%.
  • Crude oil is trading +0.24 to 57.89 while gold is -0.6 to 591.8 this morning.
No positions in stocks mentioned.

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