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Stocks To Watch: Google, Harrah's, Intel, Reasearch in Motion, Yahoo

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Stocks to watch for Monday, February 12

  • Asta Funding (ASFI) said it has agreed to acquire a portfolio with a face value of $6.9 billion for a purchase price of $300 million. Asta said the portfolio is made up of primarily credit card accounts.
  • Building Materials Holding (BLG) said its subsidiary, SelectBuild Construction, has terminated its letter of intent to acquire Willis Roof Consulting Inc.
  • China BAK Battery (CBAK) reported fiscal first-quarter net earnings of $3.58 million, or 7 cents a share, up from $3.19 million, or 7 cents a share, in the year-ago period. Revenue in the three months ended Dec. 31 rose to $43.1 million from $26.1 million.
  • Collectors Universe (CLCT) said it swung to a net loss in the second-quarter of $100,000, or a penny a share, as the company further invested in its diamond grading business. During the same period in the prior year, net income was $735,000, or 8 cents a share.
  • Eddie Bauer Holdings (EBHI) said its President and Chief Executive Fabian Mansson has resigned. The apparel retailer said Howard Gross, a member of the board, has been named interim CEO.
  • ElkCorp (ELK) and Building Materials Corp. of America said they have entered into a definitive agreement under which a BMCA affiliate will buy all of ElkCorp's outstanding shares for $43.50 a share in cash.
  • Google (GOOG) has been accused by a group of major media companies of benefiting from the sale of pirated movies and providing business support to Web sites suspected of offering access to illegal film downloads.
  • Harrah's (HET) plans to split off its vast real-estate holdings into one or more subsidiaries, an SEC filing shows.
  • IHOP (IHP) said registrations have lapsed for certain federal trademark and service mark registrations on file with the United States Patent and Trademark Office. The restaurant operator said its Uniform Franchise Offering Circular must be revised due to the lapsing, and that only certain franchise agreements entered into during and after November 2000 were affected.
  • Intel (INTC) has developed a prototype chip with the equivalent of 80 electronic brains, the latest sign of a design shift sweeping the semiconductor industry.
  • MAIR Holdings (MAIR) Mesaba Aviation Inc. unit said January traffic fell 67.8% to 38.7 million from 120.2 million revenue passenger miles during the same period in the prior year. The carrier said monthly capacity declined to 72.8 million from 191.2 million available seat miles. January's load factor, or the percentage of a plane filled with passengers, was 53.2%, compared with 62.9% in the prior year.
  • MTC Technologies (MTCT) said it now expects 2006 earnings of $1.19 to $1.20 a share on revenue of $414 million to $416 million. The Dayton, Ohio-based defense company had previously forecast per-share earnings of $1.23 to $1.30 on revenue of $405 million to $420 million for the year.
  • Municipal Mortgage & Equity LLC (MMA) said it knows of no reason why recent trading in the stock has resulted in a decrease in price. Since Monday, shares of the real estate debt and equity financing concern have dropped almost 15%. MuniMae management noted that it is not engaged in sub-prime or any other single family mortgage lending activities, and that its outlook for the multifamily rental sector is positive.
  • Research In Motion (RIMM) is lifting features from its consumer-focused Pearl device to refresh its core lineup of BlackBerry handsets for business users.
  • Ryder System (R) said its board has declared a quarterly cash dividend of 21 cents per share, up 17% from the prior dividend of 18 cents. The transportation services company said the dividend is payable March 16 to shareholders as of Feb. 20.
  • SimpleTech (STEC) said it plans to change its corporate name following the divestiture of its consumer division to "STEC Inc." STEC completed the sale of its consumer division for $43 million, and the assumption of $13.6 million in liabilities.
  • Tribune (TRB) is leaning away from accepting any offers from outside bidders, and opting instead to restructure on its own.
  • Univision Communications (UVN) reported fourth-quarter net earnings of $99.7 million, or 29 cents a share, compared with $27.4 million, or 8 cents a share, in the same period last year, boosted by strong television revenue.
  • Wood products company Weyerhaeuser (WY) CEO Steven Rogel said the company is analyzing "alternative structures" for its timberlands business as it tries to make sure that the value of its forested land is fully reflected in the company's stock price.
  • Yahoo (YHOO) plans to begin showing display advertising on mobile devices in 18 foreign markets, in an aggressive move into the young mobile-ad market.
  • Zimmer Holdings (ZMH) said it has agreed to acquire Endius, a privately held developer of spine surgery products, implants and other techniques to treat spine disease. Financial terms of the cash transaction weren't disclosed.


Market Recap

  • Asian trading closed with the Hang Seng -0.41%, Nikkei was closed, Sensex -2.39%, Taiwan -1.06% and Shanghai +2.81%.
  • A check across the pond finds greener pastures, with the CAC -0.59%, DAX -0.56%, FTSE -0.29%, ATX -0.23%, Swiss Mkt -0.35% and Stockholm -1.02%.
  • Crude oil is trading -0.72 to 59.10 while gold is -3.9 to 668.4 this morning.
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No positions in stocks mentioned.

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