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Stocks to Watch: Abercrombie & Fitch, Apple, PDL BioPharma Toll Brothers, Whole Foods


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


Stocks to watch for Thursday February 22, 2007:

  • Abercrombie & Fitch (ANF) said its fourth-quarter profit surged 20% but warned that results in the first half of the fiscal year would be pressured. The company said it made $198.2 million, or $2.14 a share, compared with last year's income of $164.6 million, or $1.80 a share. Total sales climbed 18% to $1.14 billion while same-store sales dropped 3%.
  • Agnico-Eagle Mines (AEM) reported fourth-quarter net earnings of $41.9 million, or 35 cents a share, up from $11.7 million, or 13 cents a share, in the fourth quarter of 2005. The gold producer said revenue in the three months ended Dec. 31 rose to $138.4 million from $71.4 million.
  • Analog Devices (ADI) said its quarterly profit rose 26% from a year ago as it sold more microchips for industrial equipment and consumer electronics. The company said fiscal first quarter net income was $153 million, or 44 cents, compared with net income of $121 million, or 32 cents a share, in last year's period. Sales rose 6% to $692 million for the three months ended Feb. 3, topping Wall Street's forecast of $652 million, according to Thomson Financial.
  • Apple (AAPL) and Cisco Systems (CSCO) agreed to resolve a trademark dispute over the term iPhone in which Cisco and Apple are free to use the iPhone trademark on their respective products throughout the world. Cisco will drop a lawsuit it filed against Apple.
  • Dow Jones & Co. (DJ) plans to name M. Peter McPherson chairman during its annual shareholder meeting on April 18, replacing the retiring chairman, Peter R. Kann.
  • Goldman Sachs (GS) said its presidents and co-chief operating officers, Gary D. Cohn and Jon Winkelried, each received about $53 million in total 2006 compensation. The payouts included $26.7 million in bonuses, $15.4 million in restricted stock and 205,228 options valued at $10.3 million for each executive.
  • Google (GOOG) will begin offering a bundle of services including Web-based word-processing. The new higher end version of the application costs $50 per user annually.
  • PDL BioPharma (PDLI) reported a fourth-quarter net loss of $89.7 million, or 78 cents a share, widening from $34.1 million, or 31 cents a share, in the same quarter last year. The results included a $72.1 million asset impairment charge related to Retavase. Excluding one-time items, the biopharmaceutical company posted a per-share profit of 5 cents a share. Revenue climbed to $107.8 million from $83.7 million. PDL forecasted 2007 earnings of 38 cents to 54 cents a share on revenue of $450 million to $500 million. Wall Street is currently forecasting per-share earnings of 64 cents on revenue of $495.7 million.
  • Quicksilver Resources Inc. (KWK) reported fourth-quarter net earnings of $19.7 million, or 24 cents a share, down from $34.7 million, or 43 cents a share, during the year-ago period. The oil and gas company posted total revenue of $102 million vs. $102.9 million. Analysts polled by Thomson Financial had forecast fourth-quarter earnings of 27 cents a share on revenue of $104 million.
  • Synopsys' (SNPS) fiscal first-quarter net income surged to $23.4 million, or 16 cents a share, from $1.7 million, or a penny a share, a year earlier. The software company said revenue for the quarter ended Jan. 31 increased 15% to $300.2 million from $260.2 million a year ago.
  • Toll Brothers (TOL) said net income fell 67% in its fiscal first quarter, hit by write-downs and an impairment charge. Revenue declined 19%. The homebuilding company earned $54.3 million, or 33 cents a share, for the three months ended Jan. 31, down from $163.9 million, or 98 cents a share, a year earlier.
  • Whole Foods (WFMI) said it has agreed to acquire smaller rival Wild Oats Markets (OATS) for about $565 million, continuing its battle with larger conventional supermarkets.

Market Update

  • Asian trading closed with the Hang Seng +0.76%, Nikkei +1.09% and the Sensex was unchanged.
  • Looking over at Europe, we find the CAC +0.57%, DAX +0.78%, FTSE +0.55%, ATX +0.41%, Swiss Mkt. +0.67% and Stockholm +0.34%.
  • Gold is down -1.7 to 682.3 and crude oil also lower -0.39 to 59.68 this morning.
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No positions in stocks mentioned.

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