Stocks to Watch: Altria, Boeing, Microsoft, Sprint Nextel, Symantec
Stocks to watch for Thursday, October 26
- Abbott Laboratories (ABT) said a subset analysis in the Spirit II clinical trial of the Xience V everolimus-eluting stent system showed positive results in tough-to-treat diabetic patients.
- Aetna (AET) is expected to report earnings per share for the third quarter of 72 cents,
- Affymetrix (AFFX) shares surged after the genomics toolmaker swung to a third-quarter loss on higher costs but posted revenue that outpaced Wall Street's average forecast.
- Airgas (ARG) said net earnings in its second quarter rose 33% to $40 million, or 49 cents a share, up from $30 million or 38 cents a share in the year ago period. Analysts had expected earnings of 47 cents a share.
- Altria (MO) said it is prepared to move ahead with the spinoff of its 88.6% stake in Kraft and will finalize the precise timing at its Jan. 31 board meeting
- Applebee's International (APPB) said third-quarter net income dipped, but sales rose and the company came in ahead of forecasts. Applebee's net income was $14.8 million, or 20 cents a share, compared with $22.1 million, or 28 cents a share, in the same period in the prior year.
- Ariba (ARBA) reported its fourth-quarter loss widened slightly, as sales of its software licenses slipped 36%, to $8.4 million, or 13 cents a share, from a loss of $7.3 million or 11 cents a share a year ago.
- Boeing (BA) plans to pour some $1 billion into research and development to head off possible threats to the 787 Dreamliner program. The plane maker's net fell 31% on a charge over a discontinued in-flight Internet venture.
- Business Objects (BOBJ) reported third-quarter net earnings of $19.6 million, or 21 cents per American Depositary Share, compared with $19.6 million, or 21 cents per ADS, during the year-ago period. Pro forma earnings were 41 cents a share.
- Bristol-Myers Squibb (BMY) is expected to post per-share income of 20 cents for the third quarter.
- Clear Channel Communications (CCU) said it is considering strategic alternatives to boost shareholder value, as the radio industry struggles with lackluster stock performance amid uncertainty about changing consumer habits.
- Colgate-Palmolive (CL) posted slightly lower profit, but the consumer-products company's revenue rose 8%.
- DaimlerChrysler (DCX) said it has no plans to sell Chrysler Group, aiming to bat down speculation that the unit could be on the block.
- Embarq (EQ) said third-quarter profit fell, but the carrier matched a record for high-speed Internet additions and raised its financial forecast.
- Gateway (GTW) is facing pressure from an activist investment group to make governance changes, setting the stage for a proxy battle.
- Hewlett-Packard (HPQ) said it was once again extending its tender offer for the shares of software-maker Mercury Interactive (MERQ), which H-P agreed to acquire for $4.5 billion in July. H-P is extending the offer, which had already been extended until Oct. 27, to Nov. 1.
- Komag (KOMG) reported third-quarter profit rose nearly 8% as sales surged by a third. The maker of disks for computer disk drives said net income for the three months ended Oct. 1 rose to $34.5 million, or $1.04 a share, from $32 million, or 97 cents a share, a year earlier.
- LSI Logic (LSI) said it swung to a quarterly profit from last year's same period and set plans to buy a privately-held provider of data storage protection software.
- OSI Restaurant Partners (OSI) said it will delay its third-quarter earnings report after it found that its liability for unearned revenue for unredeemed gift cards and certificates for the quarter was understated.
- Medical products maker Owens & Minor (OMI) said net income fell during the third quarter, due largely to doubtful account provisions and other charges, to $14.5 million, or 36 cents a share, compared with $16.8 million, or 42 cents a share, for the same period a year ago.
- Meritage Homes (MTH) said third-quarter net income fell, as gross margins declined, to $59.5 million, or $2.25 a share, from $70.3 million, or $2.40 a share, during the same period in the prior year. Analysts had expected per-share income of $2.02.
- Microsoft (MSFT) is expected to post third-quarter income of 65 cents per share.
- Montpelier Re Holdings (MRH) said third-quarter net income came in at $83.3 million, or 86 cents a share. In last year's period, the net loss was $875.1 million, or $12.16 a share.
- Oracle (ORCL) Chief Executive Larry Ellison said his company would begin offering full technological support for Red Hat's (RHAT) Linux operating system, effectively quelling speculation that the world's No. 2 software company would unveil its own version of the open-source operating systems.
- Pulte Homes (PHM) reported third-quarter net earnings of $190.2 million, or 74 cents a share, compared with $395.4 million, or $1.50 a share, during the year-ago period. The home builder posted revenue $3.56 billion vs. $3.79 billion.
- Sprint Nextel (S) is expected to report income of 33 cents per share for the third quarter.
- Starwood Hotels & Resorts (HOT) is expected to post per-share income of 50 cents for the third quarter
- Sun Microsystems (SUNW) is expected to report a third-quarter per-share loss of 4 cents
- Swift Transportation (SWFT) said third-quarter net earnings rose to $33.5 million, or 44 cents a share, compared with $12.6 million, or 17 cents a share, in the same period last year, as the company benefited from operational improvements and cost control.
- Symantec (SYMC) said quarterly revenue jumped 20% on strong demand from consumers for its software, though shares of the security- and storage-software giant tumbled more than 7% as results came up shy of Wall Street's hopes amid a disappointing performance in Europe.
- Zimmer Holdings (ZMH) said it made $183.3 million, or 76 cents a share, in the quarter ended Sept. 30, compared with $168.6 million, or 67 cents a share, in the same period a year earlier. Adjusted earnings came in at 82 cents a share.
- Asian trading closed with the Hang Seng +1.08%, Nikkei +0.67%, Taiwan +0.30%,Shanghai +0.22%, Sensex +0.60% and Jakarta closed.
- A quick check across the pond finds the CAC +0.48%, DAX +0.47%, FTSE -0.05%, and Swiss Mkt +0.49%.
- Crude oil is trading -0.27 to 61.13 while gold is +3.00 to 593.8 this morning.
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