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Stocks to Watch: FedEx, Jabil Circuit, Nike, Publicis, 3Com


Stocks to watch for December 21.


Stocks to watch for Thursday, December 21

  • Accenture (ACN) reported first-quarter net earnings of $284.2 million, or 46 cents a share, compared with $214.9 million, 36 cents a share, in the same period last year, on the back of strong sales.
  • Citigroup (C) denied new claims by Australia in a conflict-of-interest case against the U.S. investment bank.
  • Delta Air Lines (DALRQ) official creditors' committee said it supported the air carrier's decision to file its proposed reorganization plan, but said the committee "will continue to consider potential alternatives in order to maximize the ultimate recoveries for the unsecured creditors in the Delta bankruptcy."
  • FedEx (FDX) warned of a profit drop, blaming a gap between changing fuel prices and surcharges. Some analysts cited a slowing economy. Click here for Prof. Succo's take on it.
  • Finish Line (FINL) said it swung to a third-quarter net loss, as expenses rose, of $2.98 million, or 6 cents a share. During the same period in the prior year, the retailer reported net income of $845,000, or 2 cents a share.
  • Heico (HEI) said fourth-quarter net income rose, as revenue gained, to $9.32 million, or 35 cents a share, from $6.63 million, or 25 cents a share, during the same period in the prior year. Analysts had expected per-share income of 31 cents.
  • Herman Miller (MLHR) reported second-quarter net earnings of $36.6 million, or 56 cents a share, compared with $27.9 million, or 40 cents a share, in the same period last year, on the back of record-high orders.
  • IBM will no longer grant outside directors stock options and instead will pay them annual $200,000 retainers. The move underscores a broader turn away from options rewards amid scandals.
  • Jabil Circuit (JBL) posted fiscal first-quarter revenue of $3.2 billion, up 33% from $2.4 billion during the year-ago period. The provider of electronic manufacturing services said it expects second-quarter revenue of $2.75 billion to $2.85 billion, and fiscal 2007 revenue growth of about 20%.
  • Joy Global (JOYG) said it has named Michael Sutherlin as chief executive and president. Sutherlin, who has served as president of Joy Mining Machinery since 2003, will assume his new role on Dec. 26.
  • Juniper Networks (JNPR) said the audit committee review of the company's stock-options grants is complete, and has determined that there were "numerous instances in which grant dates were as to give favorable prices."
  • Merck (MRK) said the Food and Drug Administration approved Invanz, an injectable antibiotic, for the prevention of surgical site infections after elective colorectal surgery.
  • Nike (NKE) said its fiscal second-quarter profit rose to $325.6 million, or $1.28 a share, from $301.1 million, or $1.14 a share, in the year-ago period.
  • Paychex (PAYX) reported second-quarter net earnings of $132.7 million, or 35 cents a share, compared with $112.6 million, or 30 cents a share, in the same period last year, on the back of strong revenue from its human resource services segment.
  • PMC-Sierra (PMCS) cut its quarterly sales target due to slower demand for its chips used in high-speed Internet networking gear and data-storage equipment. PMC-Sierra forecast fourth-quarter revenue in the range of $100 million to $105 million, down from its prior outlook of $105 million to $112 million.
  • Publicis' (PUB) $1.3 billion acquisition of Digitas (DTAS) will fill a major gap in the French ad-holding company's portfolio as it seeks to take advantage of the Internet sector.
  • Siemens AG's (SI) Medical Solutions unit said it will begin clinical trials under an investigational new drug application submitted to the Food and Drug Administration for an imaging biomarker that could potentially identify Alzheimer's disease prior to the onset of noticeable symptoms.
  • 3Com (COMS) said the second-quarter net loss narrowed, as revenue gained, to $3.52 million, or a penny a share, from a net loss of $10.7 million, or 3 cents a share, during the same period in the prior year.
  • Ultratech (UTEK) revised its fourth-quarter outlook to a loss of 25 cents to 30 cents a share from its prior view of a loss of 10 cents to 15 cents a share.
  • Wet Seal (WTSLA) said it now expects its fiscal December same-store sales to rise from 1% to 3%, as compared with an increase in the low- to mid-single digit range as previously announced.

Market Summary

  • Asian trading closed with the Hang Seng -0.09%, Nikkei +0.22%, Sensex +0.33%, Shanghai -1.28% and Taiwan -0.36%.
  • A quick look across the pond finds the CAC +0.02%, DAX -0.05%, FTSE -0.28%, Swiss Mkt +0.21% and Stockholm +0.23%.
  • Crude oil is trading -0.41 to 63.31 while gold is +0.5 to 624.8 this morning.
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