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Stocks To Watch: General Electric, General Motors, Hewlett-Packard, State Street, Wal-Mart


Find your way through the fray!


Stocks to watch for Monday, February 5

  • Bisys Group (BSG) filed its Form 10-Q for the period ended Sept. 30, 2006, and reported net income of $14 million, compared with $13.4 million during the year-ago period. Revenue for the first fiscal quarter of 2007 was $211.5 million vs. $205.7 million.
  • E.On AG (EON) raised its offer for Spanish Endesa S.A. to 38.75 euros a share ($50.22) from 34.5 euros a share. The final bid values all of Endesa's shares at 41 billion euros.
  • General Electric (GE) is set to name Jeff Zucker to succeed NBC Universal chief Robert Wright, tapping a younger executive to contend with the challenges posed by the Internet.
  • General Motors (GM) may have "overcorrected" in cutting discounts in January, hurting sales, the auto maker's North America chief said.
  • Hewlett-Packard (HPQ) said it plans to withdraw the listing of its stock from the Nasdaq Global Select Market to reduce costs of exchange listing fees and administrative burdens related to being listed in two exchanges.
  • Majesco Entertainment (COOL) said its financial statements for the fiscal year ended Oct. 31, 2006 contain a going concern modification. According to a Jan. 29 filing, the company's auditors have issued an opinion indicating that there is substantial doubt about the company's ability to continue as a going concern because Majesco has incurred net losses for the years ended Oct. 31, 2005 and 2006.
  • Mediacom Communications (MCCC) said it has reached a retransmission consent agreement with Sinclair Broadcast Group (SBGI). Mediacom added that stations will be immediately restored on the Mediacom cable systems in 12 states.
  • (OSTK) said it has filed a lawsuit in the Superior Court of California, County of San Francisco seeking damages of $3.48 billion against a group of companies it says control over 80% of the prime brokerage market.
  • Simon Property (SPG) and Farallon made a $1.56 billion offer for mall owner Mills in a move to derail a deal with Brookfield.
  • State Street (STT) agreed to acquire Investors Financial (IFIN) for nearly $4.5 billion in stock in a deal that combines two firms which provide a variety of services to institutional investors.
  • Toyota (TM) is about to launch an assault on Detroit's large pickup franchise with the bigger Tundra, due to arrive this month.
  • Triad Hospitals (TRI) entered a definitive agreement to be acquired by CCMP Capital Advisors and GS Capital Partners in a deal valued at about $4.7 billion.
  • Unitrin (UTR) reported fourth-quarter net earnings of $61.6 million, or 91 cents a share, down 29% from $86.7 million, or $1.26 a share, in the year-ago period. Revenue at the Chicago-based financial services company rose to $763.9 million from $755.9 million.
  • Wal-Mart (WMT) reported a same-store sales gain of 2.2% for January, beating its own conservatively low projection.
  • Wendy's (WEN) said fourth-quarter earnings fell 90% after the September spinoff of Tim Hortons (THI), a Canadian coffee-shop chain.

Market Update

  • Asian trading closed with the Hang Seng -0.53%, Nikkei -1.15%, Sensex +0.78%, Taiwan +0.08% and Shanghai -2.27%.
  • A quick check towards Europe finds CAC -0.03%, DAX -0.23%, FTSE -0.12%, ATX -0.62%, Swiss Mkt. -0.22% and Stockholm +0.34%.
  • Gold is +0.2 to 651.7 and crude oil is -0.14 to 58.88 this morning.
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No positions in stocks mentioned.

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