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Stocks To Watch: Apple, Brocade, Halliburton, Nordstrom, Xilinx

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

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Stocks to watch for Tuesday, February 27

  • Apple (AAPL) said Monday it would delay the release of its AppleTV set-top box product until mid-March. The AppleTV had originally been scheduled to be shipped in February, but according to Lynn Fox, an Apple spokeswoman, "Wrapping up AppleTV is taking a few weeks longer than we projected." No other reason was given for the delay.
  • Brocade (BRCD) reported fiscal first-quarter net earnings of $33.3 million, or 12 cents a share, up from $9.7 million, or 4 cents a share, in the year-ago period. Revenue at the network storage company rose 32% to $224.2 million from $170.1 million.
  • Cabela's (CAB) said it is filing a preliminary prospectus supplement with the Securities and Exchange Commission with respect to an underwritten public offering of 4.12 million shares.
  • Cardinal Financial (CFNL) said it has authorized the buyback of up to 1 million shares of its common stock.
  • Standard & Poor's will add CH Robinson Worldwide (CHRW) to its S&P 500 index Thursday, replacing Health Management Associates (HMA).
  • Cogent's (COGT) fourth-quarter net income fell 34% to $13.7 million, or 14 cents a share, from $20.7 million, or 22 cents a share, a year earlier. The provider of fingerprint-biometric services said revenue decreased 8.5% to $42.3 million from $46.2 million a year ago
  • Covanta Holding (CVA) reported fourth-quarter net income was $11.9 million, or 8 cents a share, up from $5.71 million, or 4 cents a share, in the year-ago period. Revenue rose to $317.9 million from $303.4 million.
  • DTE Energy (DTE) said net income for the fourth quarter fell to $142 million, or 79 cents a share, from $382 million, or $2.14 a share in the year-ago quarter. In the year-ago quarter, it booked earnings from synthetic fuel production that had been deferred for the first three quarters of the year, driving profits higher.
  • Focus Media Holding's (FMCN) fourth-quarter net income more than tripled to $30.1 million, or 55 cents an American depository share, from $9.43 million, or 23 cents an ADS, a year earlier. The Shanghai advertising company's total revenue increased to $68.3 million.
  • Greif (GEF) declared a 2-for-1 stock split of its Class A and Class B common shares. The split is payable April 11 to shareholders of record as of March 19.
  • Guitar Center (GTRC) reported a fourth-quarter net loss of $40 million, of $1.36 a share, which included a non-cash impairment charge of $73.2 million, or $2.49 a share, related to the write down of goodwill associated with the company's music and arts division.
  • Halliburton (HAL) announced plans to dispose of its remaining interest in KBR, Inc. (KBR) through a split-off exchange offer to Halliburton shareholders. The company will offer 135.6 million shares of KBR at an exchange ratio to be determined by a "specific formula," according to Halliburton.
  • Healthcare Realty Trust (HR) intends to sell its senior living assets portfolio, expecting a total consideration of about $400 million and a net gain of about $57 million.
  • The Health Care REIT's (HCN) fourth-quarter net income fell 34% to $17.5 million, or 27 cents a share, from $26.6 million, or 47 cents a share, a year ago. The Toledo, Ohio, real estate investment trust said revenue increased to $87.8 million from $76 million a year ago.
  • HealthExtras (HLEX) fourth-quarter net income rose 94% to $11.3 million, or 27 cents a share, from $5.81 million, or 14 cents a share, a year earlier. The pharmacy-benefit management company's revenue more than doubled to $396.2 million from $181.5 million a year earlier. For 2007, the company sees earnings of $1 to $1.06 a share on revenue of $1.8 billion.
  • Helix Energy Solutions (HLX) reported fourth-quarter net earnings of $163.4 million vs. $56.8 million during the year-ago period. Net income available to applicable common shareholders was $162.5 million, or $1.73 a share, up from $56 million, or 69 cents a share, a year ago. The Houston-based energy services company posted revenue of $395.8 million vs. $264 million.
  • Herbalife's (HLF) fourth-quarter net income rose about 39% to $41.7 million, or 56 cents a share, from a year-earlier profit of $30 million, or 41 cents a share. The Grand Cayman-based company's net sales grew 19% to $487.4 million, from year-earlier sales of $409 million.
  • Hewlett-Packard (HPQ) said it would acquire privately held PolyServe Inc. in a deal to expand the company's offerings of storage software applications.
  • Kindred Healthcare (KND) reported fourth-quarter net earnings of $22.1 million, or 56 cents a share, down from $25.6 million, or 59 cents a share, in the year-ago period. Revenue at the healthcare services provider the rose to $1.1 billion from $971.5 million.
  • Marvell Technology Group (MRVL) posted preliminary fourth-quarter net revenue of $622 million compared with $489 million during the year-ago period. The Bermuda-based maker of integrated circuits said all results are preliminary due to the company's previously announced internal review of historical stock option practices.
  • NetEase.com's (NTES) fourth-quarter net profit grew 19% to $41 million, or 30 cents per American depositary share, from a year-earlier profit of $34.4 million, or 25 cents a share. The Beijing Internet company's revenue grew nearly 15% to $69.2 million, from $60.4 million a year earlier.
  • Nordstrom (JWN) said that fourth-quarter earnings climbed to $232.3 million, or 89 cents a share, compared with last year's profit of $190.4 million, or 69 cents a share. Total sales jumped 14.6% to $2.63 billion compared with last year's sales of $2.3 billion. Same-store sales increased 8.3%.
  • NYSE Group (NYX) named Duncan Niederauer president and co-chief operating officer, effective April 9. Niederauer is currently managing director of Goldman Sachs Group (GS).
  • Oneok (OKE) reported fourth-quarter net earnings of $74.6 million, or 66 cents a share, down from $237.6 million, or $2.30 a share, in the year ago-period. The year-ago quarter included a gain of $161.8 million, or $1.57 a share, from the sale of Texas gathering and processing assets, Tulsa, Okla.-based Oneok said
  • Oneok Partners L.P. (OKS) reported fourth-quarter net earnings of $80.3 million, or 82 cents per unit, up from $35.9 million, 72 cents per unit, during the year-ago period. There were 82.9 million units outstanding during this quarter vs. 46.4 million units a year ago.
  • Sonic (SONC) said it expects fiscal second-quarter earnings to come in at the low end of its previous forecast of 9 cents to 10 cents a share. The Oklahoma City-based restaurant chain also said it expects system-wide same-store during the second quarter to be near or slightly below the low end of its target range of a 2% to 4% increase.
  • Superior Energy Services (SPN) reported fourth-quarter net earnings of $62.2 million, or 76 cents a share, up from $16.2 million, or 20 cents a share, during the year-ago period. The Harvey, La.-based provider of oilfield services and equipment posted total revenue of $319.1 million vs. $188 million. Last year's results were negatively impacted by Hurricanes Katrina and Rita, the company noted.
  • Symantec (SYMC) said that security and data management group president Jeremy Burton has left the company.
  • Threshold Pharmaceuticals' (THLD) Phase III trial of glufosfamide didn't show significant improvement in overall survival among metastatic pancreatic cancer patients.
  • TNS (TNS) reported a fourth-quarter net loss of $6.66 million, or 28 cents a share. During the same period a year ago, the company posted net earnings of $1.43 million, or 6 cents a share. Excluding pretax charges of $5.7 million, the loss was $3.1 million, 13 cents a share. The provider of the data communications services posted revenue of $74.4 million vs. $65.6 million
  • United Rentals' (URI) fourth-quarter net income rose 8.2% to $53 million, or 49 cents a share, from $49 million, or 47 cents a share, a year earlier. The equipment-rental company's earnings from continuing operations were 71 cents a share, up from 53 cents a share a year earlier. Revenue rose 5.5% to $939 million from $890 million a year earlier.
  • Warnaco Group's (WRNC) fourth-quarter net income grew to $18.9 million, or 41 cents a share, from a year-earlier profit of $6.87 million, or 15 cents a share. Income from continuing operations rose to $25.1 million, or 55 cents a share. The New York apparel company's revenue grew 36% to $480.6 million from $354.5 million.
  • Washington Group International (WGII) reported fourth-quarter net earnings of $28.9 million, or 95 cents a share, up 42% from $20.4 million, or 67 cents a share, during the year-ago period. The Boise, Idaho-based provider of design, engineering and construction services posted revenue of $855.3 million vs. $899.4 million.
  • WebSideStory's (WSSI) preliminary results indicate the company swung to a fourth-quarter loss of $1.43 million, or 7 cents a share, from a profit of $5.57 million, or 28 cents a share, a year earlier. The San Diego provider of on-demand digital marketing and customer analysis applications said revenue increased 55% to $18.2 million from $11.7 million a year ago.
  • Xilinx (XLNX) proposed offering $900 million in debentures with most of the proceeds earmarked to acquire its shares through an accelerated stock buyback program or negotiated transactions.


Market Update

  • Asian trading closed with the Hang Seng -1.76%, Nikkei -0.52%, Sensex -1.25%, Taiwan +0.02% and Shanghai -8.84%.
  • Looking over at Europe, we find the CAC -1.62%, DAX -1.37%, FTSE -1.60%, ATX -3.32%, Swiss Mkt. -1.93% and Stockholm -2.70%.
  • Gold is trading -7.0 to 682.8 and crude oil is -0.66 to 60.73 this morning.
No positions in stocks mentioned.

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