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Stocks To Watch: Lear, Toyota, Triad, Tyco, United Airlines

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Stocks to watch for Tuesday, February 6

  • Aeroflex (ARXX) said second-quarter net income rose, as revenue gained and the income tax provision fell, to $9.18 million, or 12 cents a share, from $7.77 million, or 10 cents a share, during the same period in the prior year.
  • Axis Capital Holdings (AXS) fourth-quarter net income rose 22% to $290.2 million, or $1.69 a share, from $237.9 million, or $1.47 a share, a year earlier.
  • Cyberonics (CYBX) shares fell 11% after the centers for Medicare and Medicaid Services, in a preliminary decision, said it doesn't plan to provide coverage for vague-nerve stimulation to treat depression.
  • Edwards Lifesciences (EW) said fourth-quarter net income fell, as expenses and special charges rose, to $20.7 million, or 34 cents a share, from $38.6 million, or 61 cents a share, during the same period in the prior year. The cardiovascular treatment company said quarterly revenue gained to $265.6 million from $249.7 million in the prior year.
  • Blackstone raised its bid for Equity Office Properties Trust (EOP) to $39 billion, two days after rival suitor Vornado offered to accelerate payment of the cash portion of its offer.
  • Fidelity National Financial (FNF) reported fourth-quarter net earnings of $71.2 million, or 34 cents a share, compared with $115.2 million, or 64 cents a share, in the same period last year, as revenue dropped sharply.
  • Grant Prideco (GRP) reported fourth-quarter net earnings $140.1 million, or $1.07 a share, compared with $78.4 million, or 59 cents a share, in the same period last year, boosted by a lower effective tax rate.
  • IBM is selling a 3.5% stake in Lenovo Group for as much as $126.8 million.
  • Janus Capital Group (JNS) said Chief Financial Officer Dave Martin and General Counsel John Bluher are leaving the company, effective March 2. The company said the unrelated departures won't hurt its financial or legal operations
  • Carl Icahn offered $36 a share, or about $2.75 billion, for Lear (LEA), as battered auto-parts makers are suddenly looking like hot plays for big investors. Lear's stock jumped 11.5%.
  • Liberty Property Trust (LRY) said fourth-quarter net income fell, as gains on the sale of properties declined, to $60.8 million, or 67 cents a share, from $107.3 million, or $1.20 a share, during the same period in the prior year.
  • National Fuel Gas (NFG) reported first-quarter net earnings available to stockholders of $54.5 million, or 64 cents a share, compared with $57.4 million, or 67 cents a share, in the same period last year, due to warmer weather and lower natural gas prices.
  • Navarre (NAVR) said it swung to a third-quarter net profit of $4.05 million, or 11 cents a share, as costs of sales and expenses fell. In the same period last year, the publisher and distributor of entertainment and multimedia products posted a net loss of $6.07 million, or 20 cents a share.
  • On Semiconductor (ONNN) said its largest shareholder, Texas Pacific Group's TPG Advisors II Inc., has sold 45 million shares of its common stock in a registered public offering.
  • Parker Hannifin's (PH) January orders rose 1% compared with the same month a year earlier. The maker of motion and control systems added that January orders in its industrial North America segment fell 4%; industrial international orders increased 8%; aerospace orders grew 4% and climate and industrial control orders declined 1% from a year earlier.
  • PolyMedica (PLMD) reported third-quarter net earnings of $9.84 million, or 43 cents a share, compared with $9.88 million, or 41 cents a share, in the same period last year, boosted by a strong increase in pharmacy revenue.
  • Post Properties (PPS) said fourth-quarter net income for shareholders rose to $45 million, or $1.02 a share, from $3.68 million, or 9 cents a share, during the same period in the prior year. Post said quarterly per-share funds from operations fell to 45 cents from 49 cents in the prior year.
  • Principal Financial Group (PFG) said fourth-quarter net income came in at $292.4 million, up 16% from a year earlier when the retirement savings specialist made $255.2 million. Operating earnings, which exclude net realized investment gains and losses, were $252 million, or 93 cents a share.
  • Pzena Investment Management LLC after Monday's closing bell said it has informed Lear's (LEA) independent directors in a letter of its "strong opposition" to the possible sale of the company to Carl Icahn's American Real Estate Partners LP.
  • Quality Systems (QSII) preliminary fiscal third-quarter earnings rose to $8.72 million, or 32 cents a share, from $4.82 million, or 18 cents a share, a year earlier, the company reported.
  • Thomas & Betts (TNB) said fourth-quarter net income rose to $50.9 million, or 84 cents a share, from $25.8 million, or 42 cents a share, during the same period in the prior year, as the company recorded an income tax benefit of $36.5 million in the most recent period.
  • Toyota (TM) said surging sales in overseas markets pushed third-quarter earnings to record levels as the Japanese auto giant gears up to overtake GM as the world's largest car maker.
  • Triad Hospitals (TRI) agreed to be bought for $4.7 billion, plus about $1.7 billion in debt, by CCMP Capital Advisors and the private-equity arm of Goldman Sachs.
  • Tyco (TYC) said its quarterly earnings increased 43%, despite charges related to its separation into three businesses.
  • United Airlines' (UAUA) January traffic grew 2% to 9.22 billion revenue passenger miles from 9.03 billion a year earlier.
  • Universal Forest Products (UFPI) reported fourth-quarter net earnings of $9.24 million, or 48 cents a share, down 43% from $16.2 million, or 84 cents a share, during the year-ago period. The wood products company posted revenue of $499.2 million vs. $653.3 million.
  • UPS ordered 27 Boeing 767 freighters, helping Boeing (BA) maintain 767 production ahead of a possible Pentagon contract.


Market Update

  • Asian trading closed with the Hang Seng +0.98%, Nikkei +0.36%, Sensex -0.26%, Taiwan +1.19% and Shanghai +2.42%.
  • A quick check towards Europe finds CAC +0.26%, DAX +0.31%, FTSE +0.47%, ATX -0.02%, Swiss Mkt. +0.36% and Stockholm +0.85%.
  • Gold is +3.5 to 659.6 and crude oil is +1.06 to 59.80 this morning.
No positions in stocks mentioned.

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