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Stocks To Watch: Cephalon, Verizon, CVS, Google, Qualcomm

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Listing today's big stories and some stocks with potential to move...

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Stocks to watch for Tuesday, Feburary 13

  • Adelphia Communications (ADELQ) said the distribution record date for distributions under its plan of reorganization to holders of notes claims and equity interests will be Tuesday.
  • Bank of America (BAC) has begun offering credit cards aimed at illegal immigrants, the latest sign of the industry's aggressive pursuit of the Hispanic market.
  • Brookfield Properties (BPO) said it will effect a 3-for-2 division of its shares through a stock split, as opposed to through a stock dividend as previously announced.
  • Cephalon (CEPH) said it swung to a fourth-quarter net loss of $4.91 million, or 8 cents a share. In the same period last year, the biopharmaceutical company posted net earnings of $18.1 million, or 30 cents a share.
  • ChoicePoint (CPS) said it has sold its businesses that collect bankruptcy, lien and judgment records and provide them on a wholesale, bulk basis to commercial enterprises around the country. ChoicePoint said the sale is not expected to have a material impact on financial results.
  • Comstock Resources (CRK) reported net earnings of $8.41 million, or 19 cents a share, compared with $41.3 million, or 96 cents a share, in the same period last year, as expenses rose sharply. The Texas-based energy company said oil and gas sales rose 35% to $126.8 million from $93.4 million.
  • Cross Country Healthcare (CCRN) said fourth-quarter net income rose, as revenue gained, to $6.22 million, or 19 cents a share, from $4.89 million, or 15 cents a share, during the same period in the prior year.
  • CVS boosted the value of its proposed acquisition of Caremark (CMX) by increasing the special cash dividend payable to shareholders to $6 a share from $2 a share.
  • En Pointe Technologies (ENPT) said it swung to first-quarter profit of $272,000, or 4 cents a share, as the cost of sales fell. In the same period last year, the provider of business-to-business information technology products posted a net loss of $997,000, or 14 cents a share.
  • Forward Air (FWRD) said its fourth-quarter net earnings slipped to $12.17 million, or 40 cents a share, from $12.2 million, or 38 cents a share, in the same period last year, amid a "challenging freight environment."
  • General Growth Properties (GGP) said fourth-quarter net income for shareholders rose, as revenue gained, to $70.2 million, or 29 cents a share, from $66.7 million, or 28 cents a share, during the same period in the prior year. The real estate investment trust focusing on regional shopping malls said quarterly per-share funds from operations rose to $1.02 from 91 cents in the prior year.
  • 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.
  • Hospitality Properties Trust (HPT) said it has commenced a public offering of 4 million shares of beneficial interest.
  • Hub Group (HUBG) said fourth-quarter net income rose, as operating margin gained, to $13.5 million, or 34 cents a share, from $10.1 million, or 25 cents a share, during the same period in the prior year. Analysts had expected per-share income of 32 cents.
  • IRobot (IRBT) said it swung to a net loss in the fourth quarter of $1.78 million, or 8 cents a share, as operating expenses rose. During the same period in the prior year, net income was $15,000, or breakeven on a per share basis.
  • Johnson & Johnson (JNJ) said it has told the Department of Justice and the Securities and Exchange Commission that units outside of the United States are believed to have made improper payments connected with the sale of medical devices in two small-market countries.
  • Lincare Holdings (LNCR) reported fourth-quarter net earnings of $57 million, or 59 cents a share, compared with $55.1 million, or 54 cents a share, in the same period last year, on the back of higher sales. The provider respiratory therapy services said revenue rose 12.9% to $368.1 million from $326.1 million.
  • MoSys (MOSY) said it swung to net income in the fourth-quarter of $567,000, or 2 cents a share, as royalty revenue increased. During the same period in the prior year, the net loss was $1.08 million, or 4 cents a share. Analysts had expected per-share earnings of 4 cents for the recent quarter.
  • Pier 1 Imports (PIR) is suing TJX (TJX), seeking a temporary restraining order to prevent TJX from interfering with Pier 1 employing Alex Smith as its new president and chief executive.
  • Online travel bookings provider Priceline.com (PCLN) reported profit more than doubled on stronger business in Europe. For the quarter ended Dec. 31, Priceline said profit was $13.2 million, or 33 cents per share, compared to $3.8 million or 9 cents a share a year ago. Sales for the quarter rose 28% to $235.9 million.
  • Qualcomm (QCOMM) locked up the two largest U.S. carriers with its mobile TV technology after AT&T's wireless arm agreed to use its service.
  • Radyne (RADN) reported fourth-quarter net earnings $3.56 million, or 19 cents a share, compared with $4.29 million, or 24 cents a share, as revenue dropped and expenses rose.
  • Shanda Interactive Entertainment (SNDA) said it swung to net income for the fourth-quarter of 240.3 million renminbi ($31 million), or RMB3.32 (42 cents) per American Depositary Share. During the same period in the prior year, the net loss was RMB538.9 million, or RMB7.58 per ADS.
  • Shaw Group (SGR) said Ernst & Young LLP has notified the company of its decision to resign as Shaw's independent registered public accounting firm. Ernst & Young said it will resign effective upon the filing of Shaw's report for the quarter ending Feb. 28.
  • Tenaris (TS) agreed to acquire Hydril for about $2.1 billion, as the Luxembourg steel-tube maker expands further in the U.S.
  • Ultra Clean Holdings (UCTT) reported fourth-quarter net earnings of $4.65 million, or 22 cents a share, compared with $683,000, or 4 cents a share, in the same period last year, on higher sales from the acquisition of Sieger Engineering Inc.
  • Venezuela's Chavez struck a deal with Verizon (VZ) valued at more than $572 million to acquire the company's 28.5% stake in the country's largest telecom.
  • Yum Brands (YUM) posted a 2.7% increase in fourth-quarter profit as higher margins and international growth offset flat sales in the U.S. as well as the impact of an e. coli outbreak at its Taco Bell unit that sickened dozens last fall.


Market Recap

  • Asian trading closed with the Hang Seng -2.24%, Nikkei -0.67%, Sensex -0.70%, Taiwan -0.51% and Shanghai +0.88%.
  • A check across the pond finds the CAC +0.29%, DAX +0.21%, FTSE +0.16%, ATX -0.16%, Swiss Mkt -0.25% and Stockholm +0.18%.
  • Crude oil is trading -0.33 to 57.49 while gold is +3.4 to 670.4 this morning.
No positions in stocks mentioned.

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