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Stocks to Watch: Activision, Anadarko, Boston Scientific, Microsoft, Verizon


Mixing it up!


Stocks to watch for Tuesday, November 7

  • Abbott Labs (ABT) agreed to pay $3.7 billion for Kos Pharmaceuticals, which makes a drug that raises so-called good cholesterol.
  • Activision (ATVI) reported fiscal second-quarter revenue of $188.2 million, down 15% from the $222.5 million the company reported a year ago. The results were higher than the $130 million forecast Activision gave in August, and above the $163 million consensus estimate from analysts surveyed by Thomson First Call.
  • Ahold (AHO) announced plans to reinvigorate its retail operations in the U.S. and said it will return about $2.5 billion to shareholders. Some activist shareholders had called for Ahold to pull out of the U.S. completely.
  • Altera (ALTR) said its quarterly net income rose 12% from last year's same period on higher sales of chips used in networking equipment and consumer electronics gear.
  • Anadarko Petroleum (APC) reported third-quarter net income of $1.46 billion, or $3.15 a share, compared with $598 million, or $1.25, a year ago. Revenue for the three months ended Sept. 30 more than doubled to $3.5 billion from $1.53 billion a year ago.
  • Apollo (APOL) found little evidence two options were granted on their purported dates but said that doesn't prove backdating.
  • Bausch & Lomb (BOL) was warned by the FDA following an inspection of its plants in South Carolina in connection with reports that some users of ReNu with MoistureLoc contact-lens solution contracted a rare eye infection.
  • Boston Scientific (BSX) expects to boost its share of the U.S. drug-coated stent market to 59% from about 54% by the end of 2007 amid the expected launch next year of its next-generation device.
  • Bristol-Myers (BMY) offered interim CEO James Cornelius a salary and bonus of $2.31 million, plus stock options, to persuade him to stay longer at the drug maker's helm.
  • Four Seasons' CEO proposed to take it private in a deal backed by Kingdom and Cascade that values the hotel firm at $3.37 billion.
  • General Motor's (GM) Wagoner said he expects China to become a more important base to build cars for export as auto makers seek to cut costs.
  • H&R Block (HRB) said it may sell its Option One subprime mortgage business as the tax-preparation specialist looks to cut exposure to a slowing housing market.
  • Intel (INTC) and Micron (MU) announced plans to expand their memory-chip alliance with a new factory in Singapore.
  • McKesson (MCK) agreed to pay about $1.1 billion for Per-Se, which sells administrative services to doctors and hospitals.
  • Microsoft (MSFT) plans to begin offering movies and television shows that users can download onto the Xbox 360 videogame machine.
  • Morgan Stanley (MS) and Visa agreed to settle a long-running antitrust dispute, but the European Commission cautioned the settlement wouldn't end its inquiry into Visa's commercial practices.
  • OSI Restaurant Partners (OSI) agreed to a $3 billion buyout led by two private-equity firms, as management of the casual-dining company tries to fix problems at its flagship Outback Steakhouse.
  • Sara Lee (SLE) is expected to report first-quarter per-share income of 25 cents.
  • Swift's (SWFT) former top executive offered to buy the Phoenix-based trucking company for $2.2 billion.
  • Tenet Healthcare (THC) is expected to post a per-share loss of 7 cents for the third quarter.
  • Verizon (VZ) is in advanced talks with YouTube to bring the Web site's videos to cellphones. Verizon also would offer some videos on a new TV service it is launching nationwide.
  • Vodafone (VOD) struck a deal with Microsoft (MSFT) to standardize software on its handsets in a bid to reduce costs and simplify the rollout of new data applications.
  • XM Satellite (XMSR) posted a smaller loss as it continued to add to its subscriber base. Revenue rose 57% as the broadcaster added 286,000 net new customers.

Market Update

  • Asian trading closed with the Hang Seng +0.01%, Sensex -0.23%, Taiwan +0.90%, Shanghai +0.17% and Nikkei +0.18%.
  • A check of the European bourses finds the CAC +0.51%, DAX +0.23%, FTSE +0.11% and Swiss Mkt +0.26%.
  • Crude oil is trading -0.08 to 59.94 while gold is flat at 627.9.
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No positions in stocks mentioned.

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