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Stocks To Watch: Apple, Cosi, Deutsche Bank, Rambus, Take Two Interactive


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


Stocks to watch for Tuesday, March 20:

  • 3D Systems (TDSC) late Monday said it expects to record fourth-quarter revenue of $42 million to $44 million, but said its complete results will be delayed past Friday's filing deadline. The three-dimensional modeling, prototyping and manufacturing company said it was delayed in completing fourth-quarter results while it worked on restating third-quarter results, filed Feb. 2. The company expects fourth-quarter gross profit of $16 million to $17 million and operating expenses of $19 million to $21 million.
  • Agile Software's (AGIL) fiscal third-quarter net loss widened to $5.78 million, or 10 cents a share, from $4.14 million, or 8 cents a share, a year earlier, as operating expenses and cost of revenue rose. Excluding items, the San Jose Internet-based content management software company's earnings rose to $488,000, or a penny a share, from $122,000, or less than a penny a share, a year earlier. Revenue for the quarter ended Jan. 31 fell 1.2% to $33.2 million from $32.8 million a year earlier.
  • Apple (AAPL) is making inroads in the professional computer market, helped by Macs' ability to run Microsoft's Windows software.
  • Boardwalk Pipeline Partners (BWP) said it has priced a public offering of 7.5 million common units representing limited partner interests. Boardwalk said it plans to use the net proceeds of the offering to fund a portion of the cost of its expansion projects and for general partnership purposes.
  • Constellation Energy Group (CEG) Constellation NewEnergy-Gas Division unit agreed to acquire Cornerstone Energy Inc. The Baltimore natural gas company expects the acquisition to increase the scale of CNE Gas by 29% in terms of volume, and said the deal will expand its presence in new and existing markets. Constellation expects Cornerstone's 42 employees, including its founders, to join CNE Gas. Terms of the deal weren't disclosed. Constellation expects the transaction to be completed in May.
  • Cosi's (COSI) fourth-quarter loss narrowed to $4.8 million, or 12 cents a share, from $6.04 million, or 16 cents a share, a year earlier. Excluding items, the company posted a quarterly loss of 10 cents a share. The New York cafe operator said revenue rose 11% to $31.8 million from $28.6 million a year earlier. Cosi reaffirmed its 2007 per-share earnings forecast of 8 cents to 12 cents, excluding stock-based compensation, and revenue at company-owned stores of $150 million to $155 million.
  • A Deutsche Bank (DB) unit agreed to buy Maher, owner of the largest container terminal at the Port of New York and New Jersey.
  • Equinix (EQIX) named Stephen Smith chief executive, effective April 2. Peter Van Camp, Equinix's chairman and chief executive, is moving to the role of executive chairman and will remain actively involved with the company.
  • FedEx (FDX) Express announced that it would offer overnight domestic express service to 19 cities in China beginning May 28. The FedEx subsidiary will also provide day-definite deliveries to more than 200 Chinese cities.
  • Fuel Systems Solutions (FSYS) initiated a voluntary review of historical stock option grants from 1996 to 2006. The holding company formed a special committee of its board, comprised solely of independent directors, to conduct the review.
  • InterContinentalExchange (ICE) said it was "pleased" that CBOT Holdings (BOT), the parent of the Chicago Board of Trade, has authorized talks with ICE regarding the merger offer it made last week. "We are pleased that the CBOT board has determined that ICE's proposal is or could reasonably be expected to lead to a superior proposal, which enables CBOT to begin discussions and exchange information with us," said ICE Chief Executive Jeffrey Sprecher in a statement. "As we previously said, we are confident we can complete our review and be in a position to execute a definitive agreement within a week."
  • Movie Gallery (MOVI) plans to launch its online video rental service in "mid-to-late 2007." The company is extending its movie kiosk program, which operates vending machines at malls, supermarkets and other high-traffic areas by another 200 units. The company said its brick-and-mortar stores will remain the core of its business.
  • National CineMedia (NCMI) swung to a fiscal fourth-quarter profit of $700,000 from a year-ago loss of $3 million on higher revenue. Pro forma earnings were $6.9 million, or 16 cents a share. Revenue for the quarter ended Dec. 28 rose to $74.1 million from $44.6 million, driven by the conversion of founding member legacy contracts to
  • Omnova Solutions' (OMN) fiscal first-quarter loss widened to $5.1 million, or 12 cents a share, from $4.3 million, or 10 cents a share, a year earlier, as revenue fell 2.9%. The building materials manufacturer's revenue for the quarter ended Feb. 28 dropped to $164.8 million from $169.8 million in the year-ago period.
  • ProLogis (PLD) said it will offer a $1 billion aggregate principal amount of senior notes due 2037. The Denver distribution-facilities company said an additional $150 million aggregate principal amount of notes may be issued.
  • Rambus (RMBS) said the Federal Trade Commission has stayed portions of its remedy order, clarifying that the company isn't restricted from collecting royalties for the use of some of its technologies in the past. In its order, the FTC also said that Rambus isn't required to refund royalties already paid. In early February, the FTC ordered Rambus to license some of its computer memory-chip technology and set maximum royalty rates it can collect for licensing. The memory chip technologies include so-called SDRAM and DDR SDRAM. DRAM chips are widely used in personal computers, servers, printers, and cameras.
  • Republic Airways Holdings (RJET) said it has agreed to acquire 2 million of its common shares from WexAir LLC, its former majority shareholder. Under the agreement, the Indianapolis-based carrier will purchase the stock for $20.50 a share, for a total consideration of $41 million.
  • R.R. Donnelley & Sons (RRD) said that Chief Executive Mark Angelson plans to retire. The Chicago-based provider of print services said it has elected Chief Financial Officer Thomas Quinlan III to succeed as CEO. Quinlan was also named as president and a director of the company. Additionally, R.R. Donnelley said it has appointed John Paloian, currently group president of global print solutions, as chief operating officer.
  • Take-Two (TTWO) said it is considering a sale of the videogame maker, though analysts said the comments may be a ploy to hold off a revolt by shareholders.
  • Tecumseh Products (TECUA) said it will delay reporting its 2006 fourth quarter and annual results because it needs additional time to close its books. The company, which makes components for industrial equipment, previously said it was pursuing a remedy available to it under Brazilian law that would "require its lenders for its Brazilian engine manufacturing facility to abide by the terms of a proposed restructuring agreement."
  • TeleTech Holdings (TTEC) said it has filed with the Securities and Exchange Commission to sell 5 million of its common shares. The shares are being offered by TeleTech Chairman and Chief Executive Kenneth Tuchman. The business-process outsourcing company said it won't receive any proceeds from the offering. Tuchman has also granted the underwriters an option to acquire an additional 750,000 shares. The offering will reduce Tuchman's holdings in TeleTech to about 46% from about 53% of TeleTech's outstanding shares of common stock, the company said.

Market Update

  • Asian trading closed with the Hang Seng +0.47%, Nikkei +0.90%, Sensex +0.48%, Taiwan -0.02% and Shanghai +0.59%.
  • Looking over at Europe, we find the CAC -0.45%, DAX -0.37%, FTSE -0.20%, ATX -0.08%, Swiss Mkt. -0.52% and Stockholm -0.44%.
  • Gold is trading +1.80 to 656.1 and crude oil is +0.31 to 56.90 this morning.
No positions in stocks mentioned.

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