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Stocks to Watch: Analog Devices, Boeing, Citigroup, Home Depot, US Airways

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Stocks to watch for Wednesday, November 15

  • Abercrombie & Fitch (ANF) reported third-quarter net income of $102 million, or $1.11 a share, compared with $71.6 million, or 79 cents a share, in the same period last year. Sales at the teen retailer rose to $863.4 million from $704.9 million, while sales at stores open at least a year rose 5% vs. a 25% rise in the third quarter of 2005.
  • Analog Devices (ADI) said fourth-quarter net income was $138.4 million, or 39 cents a share, up from $68.3 million, or 18 cents a share, a year ago. Revenue rose 4% to $644.4 million, helped by increased sales of chips used in consumer electronic devices, such as digital cameras and video game consoles.
  • Ansoft (ANST) said second-quarter net income fell, as income tax expenses rose, to $3.71 million, or 14 cents a share, from $4.1 million, or 16 cents a share, during the same period in the prior year.
  • ArvinMeritor (ARM) said its fourth-quarter net loss widened, as the company recorded a $310 million non-cash impairment charge for goodwill, to $274 million, or $3.95 a share, from a net loss of $19 million, or 27 cents a share, during the same period in the prior year.
  • Boeing (BA) is poised to receive more than $10 billion of new business in coming weeks, including a GE order for 777s.
  • Borland Software (BORL) said its third-quarter net loss widened to $12.2 million, or 16 cents a share, compared with $5.27 million, or 7 cents a share, in the same period last year, as expenses rose. The software company posted revenue of $82.4 million, up 21% from $67.9 million last year.
  • A Citigroup (C)-led consortium was set to be named preferred bidder for 85% of China's Guangdong Development Bank in a deal valued at about $3.1 billion.
  • Cousins Properties (CUZ) declared a special dividend of $3.40 a share, or roughly $170 million. The dividend is payable Dec. 1 to shareholders of record as of Nov. 24.
  • Design Within Reach (DWRI) reported a preliminary third-quarter net loss of 8 cents to 10 cents a share on revenue of $44 million. During the same period a year ago, the San Francisco-based provider of modern design furnishings and accessories posted a net loss of 3 cents a share on revenue of $39.4 million.
  • Halliburton (HAL) delayed the IPO of its KBR unit by one day after Britain warned it could take back control of a major shipyard.
  • Home Depot (HD) reported a 3.1% earnings drop and cut its forecast, blaming the slumping housing sector. Revenue rose 11% but same-store sales fell 5.1%
    Image Entertainment (DISK) said the second-quarter net loss widened, as revenue declined and expenses rose, to $3.79 million, or 18 cents a share, from a net loss of $613,000, or 3 cents a share, during the same period in the prior year. Analysts had expected a per-share loss of 6 cents.
  • La-Z-Boy (LZB) reported second-quarter net earnings of $1.95 million, or 4 cents a share. During the same period a year ago, the Monroe, Mich.-based furniture company posted a net loss of $6.45 million, or 12 cents a share. Revenue rose to $440.5 million from $433.4 million.
  • Nuance Communications (NUAN) said its fourth-quarter net loss narrowed, as revenue jumped, to $6.74 million, or 4 cents a share, from a net loss of $7.72 million, or 6 cents a share, during the same period in the prior year.
  • Pep Boys-Manny, Moe & Jack (PBY) said its third-quarter net loss narrowed to $7.92 million from $11.2 million in the same period last year. Revenue rose to $550.8 million from $545.9 million. Analysts had expected a per-share loss of 5 cents, on revenue of $552 million.
  • Prudential Financial (PRU) said it has increased its annual stock dividend 22% to 95 cents a share. The dividend is payable on Dec. 21 to shareholders of record as of Nov. 27. The provider of financial services also has approved buying back up to $3 billion if its shares.
  • Trimeris (TRMS) said it plans to sharply reduce expenses to increase earnings from Fuzeon, an anti-HIV drug that the company is co-developing. The company said its new plan includes job cuts.
  • TRM (TRMM) said it is restructuring to alter the company's cost structure, and will reduce the headcount in its ATM service division. The company said it's reducing selling, general and administrative expenses by 15%, primarily in the United States.
  • US Airways (LCC) made a proposal to merge with Delta, in a deal valued at about $8 billion in cash and stock.
  • Verigy (VRGY) reported fourth-quarter net earnings of $14 million, or 25 cents a share. During the same period a year ago, the Cupertino, Calif.-based semiconductor test company posted a net loss of $15 million, or 30 cents a share.
  • Viasys Healthcare (VAS) said it has received 510(k) clearance from the Food and Drug Administration for its Sonara and Sonara/tek digital transcranial Doppler systems. The systems measure blood flow velocities in the arteries of the brain using ultrasound technology.
  • Wal-Mart's (WMT) profit jumped despite disappointing same-store sales, but earnings in the current quarter may miss analysts' estimates. Revenue increased 11%.


Market Update

  • Asian trading closed with the Hang Seng +1.14%, Sensex +0.33%, Taiwan +0.46%, Shanghai +1.84% and Nikkei -0.28%.
  • A check of the European bourses finds the CAC +0.31%, DAX +0.45%, FTSE +0.33% and Swiss Mkt +0.40%.
  • Crude oil is trading +0.12 to 58.40 while gold is -6.5 to 618.0.
No positions in stocks mentioned.

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