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Stocks to Watch: Abercrombie, Applied Materials, Cendant, General Motors, Google


You better watch yourself, Boo.


Stocks to watch for Wednesday, May 17:

  • Abercrombie and Fitch (ANF) said lower expenses and more favorable markup prices boosted its profit in the most recent quarter, and the company also lifted earnings guidance. Inventory down to 48% from 72%, but still high.
  • Applied Materials (AMAT) reported Q2 EPS $0.26/share on revenues of 2.25bln, vs. Reuters 2.14bln and $0.23 expected. Orders were 2.49bln, vs. est of 2.47bln. Gross Margins were 46.5%, vs. est of 46.4%. AMAT guided Q3 EPS to $0.28-$0.30 vs. Reuters expectations of $0.27 and said revenues should be up 5-10% sequentially or 2.36-2.47bln, vs. Reuters 2.35bln; said memory is expected to remain strong as well as drive growth, foundries are expected to increase during the quarter.
  • Autodesk (ADSK) upgraded to Outperform from Market Perform ahead of earnings; 2Q miss unlikely - Piper.
  • Automatic Data Processing (ADP) upgraded to Outperform from Peer Perform; think company's prospects for sustained cash earnings growth are strong - Bear Sterns.
  • Cendant (CD) private-equity firms are bidding for travel business, the New York Post reported.
  • General Motors (GM) said it will cut about one-third of the jobs at a plant near Liverpool, England; the move was expected.
  • Gold Fields (GFI) sees reserves raised 9.5m oz to 65.2m oz.; said in a statement that due to reporting regulations they were forced to use a three-year average gold price, but if they had used current prices the reserve position would have been much higher.
  • Google (GOOG) company to introduce feature to let people instantly post videos to the web and provide a link to that page.
  • Mittal (MT) CFO Aditya Mittal said company may offer no cash in bid for Arcelor if Arcelor approves stock buyback.
  • Navistar (NAV) company's 8K filing sees FY09 revenues at $15bln.
  • NYSE Group (NYX) NYX shareholder Thomas Caldwell said he is opposed to merger with Euronext; said NYX is jewel in crown of world exchanges and Euronext comes nowhere near it, doesn't want to see NYX diluted by deal.
  • Xstrata launched a bid for Falconbridge (FAL) valuing the Canadian miner at $18 billion, topping an offer Falconbridge received from Inco (N); Xstrata said company to sell shares to refinance debt.


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