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Stocks to Watch: Adobe, Dow, Home Depot, Marathon Oil, Wal-Mart


Watch me now! Ow! Give it up, turn me loose! Watch me!


Stocks to watch for Tuesday, May 16:

  • Adobe (ADBE) upgraded to Outperform from Neutral on valuation - Baird.
  • Affiliated Computer Services (ACS) filed 10Q Monday; said they don't see further restatement required and think stock option issue will begin lifting as market refocuses on fundamentals; see internal growth picking up and stock has tracked internal growth in past - Bear Sterns.
  • Campanhia Vale Do Rio Doce (RIO) in pact to supply ThyssenKrupp with iron ore; prices up 19% year-over-year; Nippon Steel, JFE, Sumitomo, Baosteel, PKX said companies haven't agreed to iron ore prices and will continue talks.
  • Dow (DOW) upgraded to Overweight from Neutral on valuation - MER.
  • Home Depot (HD) reported 1Q EPS $0.70/ FC $0.67 on revenues of $21.5bln/ FC $21.54bln, GMs 33.7%.
  • Infosys (INFY) sees mid-level wages up 18% year-over-year, entry level wages remaining stable; staff shortage to hurt Indian IT industry; announced company to hire 10k employees in China over next three years.
  • Legg Mason (LM) upgraded to Buy from Neutral on valuation - MER.
  • Marathon Oil (MRO) announced company in pact to sell Western Siberia assets to Lukoil for $787m; Lukoil to increase production of assets 2.5x.
  • Occidental Petroleum (OXY) announced Ecuador's Energy Ministry canceled company's oil contracts; operations represent about 7% of global production; company said committed to amicable settlement.
  • Royal Dutch Shell (RDS'A) CEO Van Der Veer said company working on ending flaring in Nigeria; to invest $19bln in 2007, $21bln in 2007 on expanding production; sees fair prospect of meeting reserve target; said world not running out of oil and gas.
  • SanDisk (SNDK) upgraded to Buy from Neutral on price stability in NAND contract market - MER.
  • Taiwan Semi (TSM) TSM sees foundry growth outpacing semi market demand; sees 2006 capex 5% of sales vs. 5% of sales year ago.
  • Univision (UVN) company may receive offer from second group of bidders including Thomas H. Lee, Texas Pacific, Madison Dearborn and Proivdence Equity Partners; funds considering $12bln bid for UVN - WSJ.
  • Wal-Mart (WMT) reported 1Q EPS $0.63/ FC $0.61 on revenues of $80.47bln / FC $80.31bln; sees 2Q EPS $0.70-$0.74/ FC $0.74, SSS up 2-4%; reaffirms FY EPS.
  • Xstrata (XSRAF)announced company in pact to acquire Tintaya, Peru copper mine from BHP for $750m; Xstrata to make additional payments if copper reaches certain prices in 2007/08.

Market Update

  • Asian trading closed weaker with the Hang Seng -0.62% and the Nikkei giving back -1.99%.
  • A quick check across the pond finds the CAC slightly higher +0.09%, DAX pink at -0.04% and FTSE slightly higher.
  • Crude oil is trading +0.14 to 69.55 while gold is +1.5 to 686.5 this morning. For their part, stateside futes are below fair value.


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