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Stocks to Watch: Ford, Pfizer, Sirius, Station Casinos, Toll Brothers

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Take it in stride...

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Stocks to watch for Tuesday, December 5

  • AMR Corp.'s (AMR) American Airlines said its November traffic fell 1.1% to 10.7 billion from 10.8 billion revenue passenger miles during the same period in the prior year. The carrier said monthly capacity decreased 3.7% to 13.4 billion available seat miles, while load factor was 79.7% compared with 77.6% in the year-ago period.
  • Asat Holdings (ASTT) said it now sees fiscal second-quarter revenue of $41 million, and a net loss of $7.8 million, or 6 cents per American Depositary Share. The semiconductor package company said the quarter's revenue results were "slightly below" its original outlook due to an unexpected loss of manufacturing capacity in the back-end of the production line.
  • BEA Systems (BEAS) said its ongoing internal stock-option review has determined that the actual measurement dates for certain options differ from their recorded dates. BEA said prior financial statements should no longer be relied upon, and the company will restate results.
  • CMGI (CMGI) reported first-quarter net earnings of $10.3 million, or 2 cents a share, up from $2.13 million, or breakeven on a per-share basis, during the same period a year ago.
  • Comtech Telecommunications (CMTL) reported first-quarter net earnings of $10.8 million, or 41 cents a share, down 5.6% from $11.5 million, or 43 cents a share, during the year-ago period.
  • Disney (DIS) agreed to buy NASN, a London-based cable channel that has rights to sports leagues including the NFL and MLB.
  • First Advantage (FADV) said it expects 2007 per-share earnings of $1.18 to $1.24, including an estimated 14 cents a share impact of expensing share-based compensation.
  • Ford Motor (F) said it plans to offer $3 billion of senior convertible notes due 2036. The automobile company said it sees using the proceeds for general corporate purposes.
  • Furniture Brands International (FBN) Broyhill Furniture Industries unit said it's closing the case goods manufacturing facility located in Lenoir, N.C. The company sees charges associated with the closure of $3 million, or 4 cents a share.
  • Gold Kist (GKIS) relented to Pilgrim's Pride, agreeing to a sweetened $1.1 billion takeover offer that would create the world's largest chicken producer.
  • Grupo Modelo (GPMCY) said it has reached an agreement for its partner Anheuser-Busch (BUD) to import Modelo's beers into China starting in January.
  • Health Care Property Investors (HCP) said it has sold 78 skilled nursing facilities for an aggregate of $443.5 million.
  • Henry Schein (HSIC) cut its fiscal 2006 profit forecast, citing lower-than-expected sales of certain vaccines.
  • King Pharmaceuticals (KG) said the Food and Drug Administration has approved the company's revised prescribing information for Skelaxin, a muscle relaxant.
  • Nastech Pharmaceutical (NSTK) said its contract with Procter & Gamble's (PG) pharmaceuticals unit on an osteoporosis treatment has been amended. The $15 million in payments Nastech had expected to receive in 2006 have been deferred to a $5 million payment on the initiation of an additional phase II clinical study, and a $10 million payment on initiation of a phase III study.
  • Pall (PLL) said first-quarter net income fell as the company recorded charges for items such as severance costs, of $24.4 million, or 20 cents a share, from $25.1 million, or 20 cents a share, during the same period in the prior year. Before items, quarterly per-share income rose to 29 cents from 20 cents a year ago.
  • Parkway Properties (PKY) said it now sees per-share funds from operations for 2007 of $3.80 to $4, compared with its prior view of $4 to $4.20. The real estate investment trust estimates that sales and joint ventures during 2007 will result in debt prepayment penalties and expenses of $2.8 million, or 18 cents per share.
  • Pfizer (PFE) may have to move more aggressively to cut costs and restock the company's pipeline after development of torcetrapib was stopped. The drug was shelved after more people than expected died while taking it in a clinical test.
  • Priceline.com (PCLN) said Hutchison Whampoa (HUWHF) and Cheung Kong (Holdings) Ltd. sold about 3.8 million shares of Priceline's common stock in an offering underwritten by Goldman Sachs Group.
  • Retail Ventures (RVI) said it swung to a third-quarter net loss, as the company recorded a $30.6 million charge on the change in fair value of derivative instruments, of $34.1 million, or 72 cents a share. During the same period in the prior year, net income was $56.4 million, or 92 cents a share.
  • Sirius (SIRI) cut its latest subscriber projection by 200,000, or as much as 6%, underscoring satellite radio's challenge of catching on with the public.
  • Station Casinos (STN) received a $4.7 billion buyout offer from a management-led group, boosting its shares more than 22%.
  • Syntax-Brillian (BRLC) said it now expects revenue for the fiscal second quarter to be at or above the high end of its prior outlook of $178 million to $190 million. The digital entertainment products cited "early indications" of retail sell-through over the Thanksgiving weekend.
  • Toll Brothers (TOL) posted a 44% drop in quarterly net income and the luxury-home builder said its fiscal 2007 profit may decline by as much as 62%.
  • UAL Corp.'s (UAUA) United Airlines reported that traffic in November rose 2.4% to 9.13 billion revenue passenger miles. Load factor, or the percentage of the plane filled with passengers, fell 0.2 percentage points to 79.7%. Capacity increased 2.7% to 11.5 billion available seat miles.


Market Update

  • Asian trading closed with the Hang Seng +1.29%, Nikkei -0.23%, Sensex +0.46%, Taiwan -0.49%, and Shanghai +0.54%.
  • A quick check across the pond finds the CAC +0.16%, DAX +0.11%, FTSE +0.01%, ATX -0.42%, Swiss Mkt -0.20% and Stockholm +0.31%.
  • Crude oil is trading +0.64 to 63.08 while gold is -1.5 to 649.4 this morning.
No positions in stocks mentioned.

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