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Stocks to Watch: Akamai, Exxon, McAfee, SunMicro, Wal-Mart


Eye on the prize, Minyans...


Stocks to Watch for Friday October 27, 2006.

  • Akamai Technologies (AKAM) reported third-quarter sales increased 47%, but net income fell nearly 95%. The company that provides Internet delivery services reported profit of $14 million, or 8 cents a share, compared to $272 million, boosted by a one-time tax gain, or $1.71 a share from a year ago.
  • Bristol-Myers's (BMY) profit plunged 65%, hurt by generic competition to Plavix. A probe into its handling of a patent dispute widened.
  • Chesapeake Energy (CHK) , the biggest U.S. natural gas producer, posted a sharply higher third-quarter profit, citing a continued increase in output and extensive production hedges.
  • Comcast (CMCSA) said its profit soared, bolstered by the acquisition of former rival Adelphia's cable assets as well as broadband and digital video subscriber gains.
  • Exxon Mobil (XOM), reported third-quarter net income of $10.49 billion, up 5.7% from a year earlier and one of the largest quarterly profits for a U.S. company. The average price at which Exxon sold a barrel of oil was $65.14, up 12% from a year earlier.
  • Gap (GPS) said another one of its top executives, Diane Neal, president of Gap Outlet, was leaving the retailer.
  • Massey Energy (MEE) reported third-quarter net earnings of $24.2 million, or 30 cents a share, up 7.6% from $22.5 million, or 28 cents a share, during the year-ago period. The coal company posted total revenue of $555.9 million vs. $533.7 million.
  • McAfee (MFE) reported third-quarter net earnings of $30.3 million, or 19 cents a share, compared with $22.5 million, or 13 cents a share, in the same period last year, as sales rose. Revenue rose 14% to $287.8 million from $252.9 million.
  • Microsoft (MSFT) said profit and revenue both rose 11% in its fiscal first quarter and future growth will be shaped by the Xbox 360 video game system and Windows Vista.
  • Netgear (NTGR) said third-quarter net income fell, as the provision for income taxes rose, to $7.98 million, or 23 cents a share, from $8.59 million, or 25 cents a share, during the same period in the prior year. Netgear said quarterly revenue rose to $151.6 million from $111.3 million in the prior year.
  • Sprint Nextel (S) reported a 52% decline in third-quarter net income, losing the contribution from its local telephone business that was spun off in May.
  • Sun Microsystems (SUNW) said its loss narrowed by 55% last quarter as revenue continued to improve for the computer server and software maker amid its latest attempts at restructuring and regaining its position among the elite of the business-computing industry.
  • Wal-Mart (WMT) is extending its $4 generic-drug plan to another 12 states, bringing the total to 27 states. The world's largest retailer said it is accelerating the program due to customer demand.

Market Update

  • Asian trading closed with the Hang Seng -0.31%, Nikkei -0.85%, Sensex +1.64%, Taiwan +0.08%, Shanghai -0.19% and Jakarta still closed.
  • A check of the European bourses finds the CAC -0.33%, DAX +0.12%, FTSE -0.41%, ATX +0.22%, Swiss Mkt flat and Stockholm -0.13%.
  • Crude oil is trading -0.15 to 60.21 while gold is -4.0 to 595.8 this morning. For their part, stateside futes are below fair value.
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No positions in stocks mentioned.

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