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Stocks to Watch: Altera, Dow Jones, Schering-Plough, U.S. Airways, Yahoo


Whistle while you work...


Stocks to watch for Wednesday, December 6

  • ActivIdentity (ACTI) said the fourth-quarter net loss narrowed, as revenue rose, to $343,000, or a penny a share, from a net loss of $10.1 million, or 23 cents a share, during the same period in the prior year. Analysts had expected a per-share loss of 9 cents.
  • Agile Software (AGIL) said its preliminary second-quarter net loss per share was 3 cents, compared with a net loss of 7 cents per share during the same period in the prior year. Before items, the per-share net loss was 2 cents, compared with a loss of 3 cents per share in the prior year.
  • Altera (ALTR) said it now sees a decline in fourth-quarter sequential sales of 5% to 7%, compared with its prior view of a 2% to 5% decline. The company cited declining sales for mainstream and mature products.
  • Chrysler (DCX) said that its No. 2 executive, Joe Eberhardt, is leaving to become a Mercedes dealer in a prelude to a broader restructuring expected in coming months.
  • Continental Airlines (CAL) said it has converted an additional 12 of its Boeing (BA) orders into the new Boeing 737-900ER.
  • Copart (CPRT) reported first-quarter net earnings of $30.3 million, or 32 cents a share, up 33% from $22.8 million, or 24 cents a share, during the year-ago period. The provider of vehicle salvage services posted revenue of $132.1 million vs. $116.7 million.
  • Dow Jones (DJ) said it has completed its sale of six community newspapers to Community Newspaper Holdings Inc. Dow Jones (DJ), publisher of this report, said it received $281.5 million in cash, and will receive an additional $6.4 million upon transfer of real property.
  • Electronic Data Systems (EDS) said it has promoted Ron Rittenmeyer to president. Rittenmeyer will also remain chief operating officer.
  • Handleman (HDL) said it swung to a net loss in the second-quarter, as expenses rose for items such as income taxes, of $14.2 million, or 70 cents a share. During the same period in the prior year, net income was $9.77 million, or 46 cents a share.
  • Indevus Pharmaceuticals (IDEV) and Novexel S.A. said they have agreed for Indevus to license worldwide aminocandin rights to Novexel. Indevus will receive an up-front payment of $1.5 million, a payment of $2 million upon initiation of Phase II clinical trials, potential milestones totaling an additional $41 million and royalties on all future sales.
  • InterDigital Communications (IDCC) said it expects fourth-quarter revenue of $62 million to $63 million. The outlook doesn't include the potential positive impact of new agreements that may be signed during the quarter or additional royalties. Analysts are looking for revenue of $106 million for the quarter.
  • KBW (KBW) said third-quarter income rose, as revenue gained, to $9.13 million, or 35 cents a share, from $3.96 million, or 14 cents a share, during the same period in the prior year. The investment bank said quarterly revenue rose to $93.2 million from $78 million in the prior year.
  • Manor Care (HCR) said it has named Stephen Guillard chief operating officer, effective Jan. 1. Guillard was also elected to the board of directors.
  • MDU Resources Group (MDU) said it still expects 2006 per-share earnings of $1.50 to $1.65 a share. The natural resource products and services company also said it sees 2007 per-share earnings of $1.45 to $1.65. Analysts are forecasting 2006 per-share earnings of $1.63 and 2007 per-share earnings of $1.79.
  • New York Times (NYT) said November advertising revenue from continuing operations decreased 3.8% to $189.9 million from $197.4 million during the same period in the prior year.
  • Optium (OPTM) shares rose 8.7% after the optical subsystems supplier said first-quarter net income rose, as revenue gained, to $2.76 million, or 13 cents a share, from $377,000, or 2 cents a share, during the same period in the prior year.
  • Photronics (PLAB) said fourth-quarter net income rose, as revenue gained, to $9.82 million, or 21 cents a share, from $8.74 million, or 19 cents a share, during the same period in the prior year. Analysts had expected per-share income of 16 cents.
  • R.H. Donnelley (RHD) said it expects 2007 revenue of roughly $2.67 billion, and earnings before interest, taxes, depreciation, amortization, and stock option expense of $1.44 billion. Analysts are expecting 2007 revenue of $2.68 billion.
  • Schering-Plough (SGP) said it has entered into an exclusive licensing agreement with Braintree Laboratories Inc. to market the prescription laxative MiraLAX over the counter.
  • Sirva (SIR) said it now sees 2006 earnings before interest expense, taxes, depreciation and amortization from continuing operations of $45 million to $55 million, compared with its prior outlook of $65 million to $80 million. The relocation services provider cited higher inventory costs within in its Global Relocation business as a factor.
  • US Airways Group (LCC) said November traffic rose 1% to 4.97 billion from 4.92 billion revenue passenger miles during the same period in the prior year. The carrier said monthly capacity fell 2.3% to 6.39 billion from 6.54 billion available seat miles.
  • Versant (VSNT) reported fourth-quarter net earnings of $1.36 million compared with $512,000, during the same period a year ago. Earnings attributable to common shareholders were 38 cents a share vs. 14 cents a share.
  • Wind River (WIND) said preliminary third-quarter revenue is $70.6 million, compared with $67.6 million during the same period in the prior year. Analysts had expected revenue of $75 million.
  • Yahoo (YHOO) is giving CFO Susan Decker oversight of online ad sales, while operating chief Dan Rosensweig and media-group head Lloyd Braun will depart. The shake-up follows internal criticism that Yahoo is spread too thin.
  • Yum Brands (YUM) has started reopening the New York-area Taco Bell restaurants it shut down after a suspected E. coli outbreak, while health officials in Pennsylvania investigated several more suspected cases.

Market Update

  • Asian trading closed with the Hang Seng +0.43%, Nikkei +0.65%, Sensex +0.08%, Taiwan +1.10%, and Shanghai -0.77%.
  • A quick check across the pond finds the CAC -0.25%, DAX -0.01%, FTSE +0.02%, ATX +0.33%, Swiss Mkt +0.44% and Stockholm +0.09%.
  • Crude oil is trading -0.21 to 62.22 while gold is -7.6 to 640.3 this morning.
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