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Stocks to Watch: Ford, Intel, Nokia, Wal-Mart, Verizon

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Smooth Sailing

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Stocks to watch for Tuesday, November 28

  • Applebee's (APPB) said comparable-store sales for its restaurants fell 3.1% in November because of falling guest traffic and a flat average check.
  • Caraustar Industries (CSAR) said it will record a pretax charge of $4 million for the closure of its York Carton Plant that will affect 61 salaried and hourly employees. The recycled packaging company said the closure is part of the consolidation of Caraustar's converted products group.
  • Celestica (CLS) said it has named Craig Muhlhauser as chief executive and president, effective immediately. Muhlhauser succeeds Stephen Delaney, who is resigning to pursue other business interests.
  • Chesapeake Energy (CHK) said it plans to commence a public offering of 400 million euros ($525 million) of senior notes due 2017. The natural gas producer said it expects to use the net proceeds from the offering to repay outstanding debt under its revolver.
  • Cleveland-Cliffs (CLF) said Laurie Brlas has been appointed chief financial officer, effective Dec. 11. Brlas will replace acting CFO Donald Gallagher, who recently became president of the North American iron ore unit.
  • Copano Energy (CPNO) said it plans to sell 2.5 million common units in a public offering. The midstream natural gas company also said it has granted the underwriters an option to purchase up to 375,000 additional units. Copano said it plans to use proceeds to repay its $100 million unsecured term loan, and for general company purposes.
  • Cytokinetics (CYTK) said its collaboration and license agreement with GlaxoSmithKline (GSK) has been amended, and Cytokinetics will assume responsibility for the costs of continued development of the kinesin spindle protein inhibitors ispinesib and SB-743921. Cytokinetics added that it now sees revenue for 2006 of $3 million to $4 million.
  • Delta agreed to give its retired pilots an extra $719 million in unsecured claims in its bankruptcy case to help them recoup losses from the termination of the pilot pension plan.
  • Digital Realty Trust (DLR) said Global Innovation Partners has agreed to sell 3.3 million shares of Digital Realty's common stock to Merrill Lynch (MER).
  • Donaldson (DCI) reported first-quarter net earnings of $36 million, or 43 cents a share, up 12% from $32.2 million, or 37 cents a share, during the year-ago period. The provider of filtration systems posted revenue of $446.4 million vs. $403.4 million.
  • Everest Re Group (RE) said it has named Craig Eisenacher chief financial officer, effective Dec. 18. Eisenacher replaces Stephen Limauro, who will assist during the transition.
  • Ford (F) plans to borrow up to $18 billion, backed by auto assets, as it takes advantage of buoyant debt markets and easier credit.
  • Intel's (INTC) venture-capital arm will reach $1 billion in investments this year, for the first time since the height of the dot-com bubble.
  • Inter Parfums (IPAR) said it expects 2007 net earnings of $1 a share, on revenue of $365 million, assuming the dollar remains at its current levels. Analysts see per-share earnings for the period of $1.03, on revenue of $360 million.
  • Pilots, flight attendants and mechanics of MAIR Holdings (MAIR) Mesaba Airlines have ratified tentative labor agreements. The Air Line Pilots Association, International, the Association of Flight Attendants-CWA and the Aircraft Mechanics Fraternal Association said the new agreements reduce labor costs by 15%. MAIR
  • MasTec (MTZ) named Vice Chairman Jose Ramon Mas as president and chief executive, effective at the end of March. Mas will succeed Austin Shanfelter, whose contract runs through March 31, the specialty contractor said.
  • NeuStar (NSR) said it has acquired Followap Inc., a U.K.-based provider of mobile instant messaging products in Europe and Asia, for $139 million in cash. NeuStar said it expects Followap's revenue to exceed $25 million in 2007 and to more than double in 2008.
  • Nokia (NOK) plans to address design concerns in a presentation to shareholders, amid competition from makers of thinner handsets.
  • Stratos International (STLW) reported second-quarter earnings of $773,000. During the same period a year ago, the Chicago-based maker microwave components posted a net loss of $346,000.
  • US Airways Group (LCC) said it will distribute $1.8 million across its system in the form of one-time $50 bonuses to each employee.
  • Wal-Mart (WMT) plans a joint venture with Indian cellphone operator Bharti to open stores in the country's fast-growing market.
  • YouTube signed a deal with Verizon Wireless (VZ) to provide video content for cellphones.


Market Update

  • Asian trading closed with the Hang Seng -2.94%, Sensex -1.25%, Taiwan -0.71%, Shanghai -0.42% and Nikkei -0.19%.
  • A check of the European bourses finds the CAC -0.16%, DAX -0.21%, FTSE -0.28% and Swiss Mkt -0.51%.
  • Crude oil is trading +0.39 to 60.71 while gold is -2.8 to 637.8
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No positions in stocks mentioned.

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