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Stocks To Watch: Boeing, H&R Block, Intuit, Pfizer, Yum!


Another one bites the dust...


Stocks to watch for Friday Decmber 1:

  • Advanced Micro Devices (AMD) said it has received a subpoena from the Department of Justice's antitrust division on an investigation into potential antitrust violations related to graphics processors and cards.
  • Boeing (BA) expects to sell defense products to India worth up to $15 billion over the next 10 years.
  • Best Buy (BBY) said David Berg has been named chief operating officer of Best Buy International. Berg, who fills a new position, has served as senior vice president, strategic alliances.
  • Cheesecake Factory (CAKE) posted two quarters' worth of earnings that came in ahead of Wall Street's expectations, and said sales at restaurants open at least a year so far in the fourth quarter were flat to slightly higher.
  • H&R Block (HRB) reported a fiscal second-quarter net loss of $156.5 million, or 49 cents a share, compared with a net loss of $81.2 million, or 25 cents a share, during the year-ago period, as weakness in the mortgage industry drove a larger loss.
  • Intuit (INTU) is acquiring Digital Insight (DGIN) for $1.35 billion, in an effort by the maker of the TurboTax and Quicken programs to tap into the online-banking market
  • Lone Star Steakhouse & Saloon (STAR) said Dallas-based private equity firm Lone Star Funds has raised its acquisition bid to $27.35 from $27.10 a share.
  • McData (MCDTA) said the third-quarter net loss widened, as costs rose and revenue fell, to $26.3 million, or 17 cents a share, from a net loss of $7.48 million, or 5 cents a share, during the same period in the prior year.
  • Pfizer (PFE) promised to launch about a half-dozen new drugs a year starting in 2011 and raised its 2006 earnings estimate.
  • Semtech (SMTC) said third-quarter sales rose to $63.7 million from $60.9 million during the same period in the prior year. Wall Street had expected $64 million.
  • Sonic (SONC) said it expects first-quarter same-store sales growth to be within its target range of 2% to 4%.
  • Warner Music (WMG) is expected to report breakeven earnings per share for the fourth quarter, according to analysts polled by Thomson First Call.
  • Yum! Brands (YUM) said it expects 2007 per-share earnings growth of at least 10%.

Market Update

  • Asian trading closed with the Hang Seng -1.42%, Nikkei +0.29%, Sensex +1.08%, Taiwan +0.61%, Shanghai +0.13% and Jakarta +0.92%.
  • A quick check across the pond finds the CAC +0.26%, DAX +0.23%, FTSE +0.28%, ATX +1.28%, Swiss Mkt +0.50% and Stockholm +0.45%.
  • Crude oil is trading -0.76 to 62.37 while gold is -2.5 to 650.4 this morning. For their part, stateside futes are mixed to fair value.
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