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.
- 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.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter