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Stocks to Watch: Bausch & Lomb, Cisco, Disney, Kohl's, Viacom


Finish Strong


Stocks to watch for Friday, November 10

  • Adobe Systems (ADBE) said Randy Furr resigned as chief financial officer effective Nov. 7. The software company said Furr's resignation is unrelated to his work at Adobe, and no issues have been raised regarding the integrity of the company's financial statements.
  • American International Group (AIG) reported a surge in third-quarter net income after the insurance giant avoided the big hurricane losses that dented results last year.
  • Atari (ATAR) reported second-quarter net earnings of $311,000, or breakeven on a per-share basis. During the same period a year ago, the New York-based video game software company posted a net loss of $25.2 million, or 20 cents a share.
  • Bausch & Lomb (BOL) forecast 2006 and 2007 results would be at the low end of its prior estimates due the recall of its ReNu with MoistureLoc contact-lens solution.
  • Boeing (BA) was selected by the U.S. Air Force to provide the military's next generation of combat search and rescue helicopters, an order the company said is worth up to $10 billion.
  • California Pizza Kitchen (CPKI) said it earned $6.7 million, or 34 cents a share, in its third quarter, up from $5.5 million or 28 cents a share, in the year-ago period. Revenue came in $142.8 million, a rise of 15% while same store sales rose 5.6%.
  • Cisco's (CSCO) profit rose 28% as revenue got a boost from the networking-equipment maker's acquisition of set-top box maker Scientific-Atlanta earlier this year.
  • Delta Air Lines (DALRQ) said it swung to a third-quarter profit on gains relating to its reorganization as the No. 3 U.S. carrier continues to make headway towards emerging from bankruptcy.
  • Disney's (DIS) profit doubled as huge summer hit "Pirates" helped move its movie studio back into the black. ESPN and theme parks also boosted results.
  • Genentech (DNA) and Tanox (TNOX) said Genentech plans to acquire for $20 per share, a 47% premium to the stock's closing price, in a $919 million deal. Genentech and Tanox have been working together in collaboration with Novartis (NVS) since 1996 to develop and commercialize Xolair, an allergic asthma treatment.
  • General Motors (GM) plans to price a boldly styled, seven-passenger vehicle from its Buick brand below competing models from Japanese luxury nameplates Lexus and Acura.
  • Hydril (HYDL) said it has approved the buyback of up to $150 million of its shares. Houston-based Hydril is a maker of premium connections and pressure control products used for oil and gas drilling and production.
  • InfoSonics (IFON) shares fell 22% after the wireless handset distributor said third-quarter net income fell, as sales costs rose, to $677,179, or 4 cents a share, from $1.17 million, or 10 cents a share, during the same period in the prior year.
  • Kohl's (KSS) turned in a 45% increase in quarterly earnings amid robust sales of men's, women's and children's basic and designer apparel, and a record pace of new-store openings.
  • Lions Gate Entertainment (LGF) said the second-quarter net loss widened, as expenses rose, to $14.4 million, or 14 cents a share, from $14.1 million, or 14 cents a share, during the same period in the prior year. The film studio said quarterly revenue rose to $218.2 million from $211 million in the prior year.
  • Medtronic (MDT) said the Food and Drug Administration's dental products advisory panel has recommended approval of a third indication for its Infuse bone graft.
  • Microsoft (MSFT) agreed to pay Universal Music a royalty for each Zune music player sold in exchange for the right to offer downloads of Universal's recordings.
  • Nvidia (NVDA) said fiscal third-quarter sales grew almost 41% from a year ago as the company became the top worldwide graphics chip concern.
  • Pacific Sunwear (PSUN) reported third-quarter net income of $8.98 million, or 13 cents a share, for the three-month period ended Oct. 28, compared with $40.5 million, or 54 cents a share, in the same quarter last year.
  • Shanda Interactive Entertainment (SNDA) said third-quarter net income fell, as revenue declined and costs rose, to 143.5 million yuan ($18.1 million), or 1.98 yuan per American Depositary Share (26 cents), from 261.1 million yuan, or 3.56 yuan per ADS.
  • The $8 billion merger of Tribune (TRB) and Times Mirror threw together two incompatible cultures driven by philosophical differences between the Los Angeles Times and the Chicago Tribune.
  • TXU's profit jumped 77% to $1 billion in the third period. The record earnings come as the energy company tries to fend off criticism that its prices are too high.
  • Viacom's (VIA) profit fell 16% as a huge severance payment to fired CEO Tom Freston and a weak showing by its Hollywood film business outweighed a strong performance at its core cable networks.

Market Update

  • Asian trading closed with the Hang Seng -0.33%, Sensex +1.11%, Taiwan +0.32%, Shanghai -0.69% and Nikkei -0.53%.
  • A check of the European bourses finds the CAC -0.07%, DAX -0.03%, FTSE -0.05% and Swiss Mkt -0.43%.
  • Crude oil is trading -0.77 to 60.39 while gold is -2.8 to 634.0.
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