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Stocks to Watch: Anadarko, Harrah's, Marvel, Wal-Mart, XM Satellite Radio


Start with a clean slate...


Stocks to watch for Monday, November 6

  • Anadarko Petroleum (APC) is expected to post per-share income of $1.35 from the third quarter.
  • Aztar (AZR) said its agreement to sell Casino Aztar Caruthersville to Fortunes Entertainment LLC has been mutually terminated. Aztar added that the Missouri Gaming Commission will appoint a supervisor of Casino Aztar Caruthersville to become effective upon the closing of Aztar's merger with Columbia Entertainment that is expected in the fourth quarter.
  • Berkshire Hathaway (BRKA) reported third-quarter net earnings of $2.77 billion, or $1,797 a share, more than quadrupling income of $586 million, or $381 a share, in the year-ago period.
  • Bisys Group (BSG) said the Securities and Exchange Commission staff has agreed to recommend that the SEC accept a settlement of its investigation into the company's restatements of its financial results filed Aug. 10, 2004 and April 26, 2006. The proposed settlement calls for Bisys to refrain from future violations of federal securities laws and SEC rules, and to pay $25.1 million in disgorgement and prejudgment interest.
  • Boston Scientific (BSX) said the Food and Drug Administration has approved the NexStent carotid stent and monorail delivery system for use in patients with carotid artery disease who are at high risk for surgery. The stent is manufactured by EndoTex Interventional Systems Inc. and has been distributed exclusively by Boston Scientific outside the United States. Boston Scientific added that it will acquire EndoTex within 90 days as the companies agreed.
  • After Friday's closing bell, Celgene (CELG) said its public offering of 20 million shares has priced at $51.60 a share, raising $1.03 billion.
  • Corautus Genetics (VEGF) said President and Chief Executive Richard Otto and Chief Financial Officer Robert Atwood will no longer work for the company, effective Dec. 31. Both executives will remain on the company's board and serve as part-time consultants.
  • Encore Medical (ENMC) said it has completed going private through a merger with a company newly formed and controlled by Blackstone Capital Partners V L.P. in an $887 million deal.
  • Harrah's Entertainment (HET) said it has acquired or received acceptances for about 83% of London Clubs International plc's ordinary shares. Las Vegas-based Harrah's expects to control 100% of London Clubs by the end of the fourth quarter.
  • Gilead Sciences (GILD) said it has completed its acquisition of Raylo Chemicals Inc. for 107 million euros ($136.1 million). Gilead said it intends to utilize the site for process research and scale-up of clinical development candidates, among other purposes.
  • Marvel Entertainment (MVL) is expected to report earnings of 12 cents per share for the third quarter.
  • Starbucks (SBUX) said four laptops that are no longer in regular use are missing from the company's corporate support center in Seattle. The coffee giant said two of the laptops contained private information, such as names and social security numbers, of almost 60,000 United States employees, as well as less than 80 Canadian partners and contractors employed prior to Dec. 31, 2003.
  • Take-Two Interactive Software (TTWO) said it has received a non-compliance notice from Nasdaq due to the company's delayed Form 10-Q filing for the quarter ended July 31. The company has scheduled a meeting with the Nasdaq listing qualifications panel to address its plan to regain compliance.
  • Wal-Mart (WMT), which just turned in softer-than-expected same-store sales growth for October and forecast flat results for November, on Friday said it was cutting prices on nearly a hundred electronics products, including high-definition TVs, digital cameras and cell phones.
  • XM Satellite (XMSR) is expected to report a third-quarter per-share loss of 46 cents.

Market Update

  • Asian trading closed with the Hang Seng +1.00%, Sensex +0.43%, Taiwan -0.57%, Shanghai +1.07% and Nikkei +0.09%.
  • A check of the European bourses finds the CAC +0.52%, DAX +0.67%, FTSE +0.74% and Swiss Mkt +0.60%.
  • Crude oil is trading -0.25 to 58.89 while gold is -2.2 to 627.0.
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No positions in stocks mentioned.

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