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Stocks to Watch: Anadarko Petroleum, Citigroup, Conexant Systems, Google, Microsoft


The MV morning call.


Stocks to Watch for Friday, April 28:

  • Aluminum Corp. China (ACH) announced it raised domestic alumina prices 8.7%, first increase this year.
  • Allegheny Energy (AYE) reported it more than doubled its net profit for the first quarter of the year, with a strong performance by its power stations and rising electricity prices overcoming negative impact of a mild winter.
  • Altera (ALTR) 1Q net income fell to $0.16/share on sales of $292.8 million.
  • Anadarko Petroleum(APC) reported a 35% spike in its first-quarter profit despite slightly lower oil and gas production.
  • Citigroup (C) upgraded to Outperform from Market Perform on valuation at Piper.
  • Conexant Systems (CNXT) 2Q net loss was $0.02/share. On a pro forma basis, the company reported per-share income of 3 cents. Analysts polled by Thomson First Call had expected per-share income for the second quarter of 2 cents.
  • Constellation Energy Group (CEG) reported 1Q EPS $0.70/ FC $0.66 on revenues $4.9bln/ FC $4.32bln; sees 2Q EPS $0.30-$0.45/ FC $0.67, FY EPS $5.25-$5.75
  • Dover (DOV) said it more than doubled its first-quarter profit on a gain from discontinued operations and strength across all its operating segments.
  • Elan (ELN) and Biogen Idec (BIIB) said scientific committee of the European Medical Agency issued a positive opinion about recommending marketing authorization for Tysabri.
  • Flextronics International Ltd. (FLEX) reported 4Q profit that fell 58% from a year ago as the electronics contract manufacturer took $55 million in charges related to restructuring and other one-time items.
  • Gateway (GTW) reported a first-quarter quarter loss that more than doubled over a year ago as the No. 3 U.S. personal-computer company incurred $14 million in litigation costs even as revenue rose.
  • Google (GOOG) denied Business Week article that company considering deal with Sina Corp. (SINA).
  • Intuitive Surgical (ISRG) reported 1Q net earnings of $14.5 million, $0.38/share. Excluding stock compensation expenses, first-quarter income was $17.5 million, or $0.46/share. Analysts polled by Thomson First Call had forecast earnings of $0.20/share on revenue of $63 million.
  • Invitrogen (IVGN) net income plunged during the first quarter, due largely to acquisition costs and stock option expensing, though sales climbed during the period, the company said Thursday.
  • KLA-Tencor (KLAC) reported its net income fell to $98 million, or $0.48/share. The latest results were affected by expensing for stock options, which lowered the company's profit by $31 million. Sales came in at $518 million, topping the expectations of analysts surveyed by Thomson First Call.
  • Microsoft (MSFT) latest results and forecasts came in below Wall Street estimates; forecast for the fourth quarter and fiscal year 2007 also disappointed analysts.
  • Netflix (NFLX: News, Quote) said it plans to file a registration statement to sell 3.5 million shares of common stock in a secondary public offering.
  • Openwave Systems (OPWV) reported F3Q net earnings $0.10/share on revenue of $113 million. Analysts polled by Thomson First Call had forecast earnings of $0.19/share on revenue of $112 million.
  • Standard Pacific (SPF) reported 1Q EPS $1.38/ FC $1.28 on revenues $879m/ FC $878.75m, new orders 2520 homes; sees 2Q EPS $1.45/ FC $1.58, deliveries 2875 homes; FY EPS $6.50/ FC $6.46
  • Western Digital (WDC) reported 3Q profit rose 45% from a year ago due to higher drive-unit shipments and revenue.
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