Stocks to Watch: Alcan, BEA, Burger King, Google, UPS, Yahoo
All along the watchtower...
Stocks to watch for Thursday, May 18:
- Alcan (AL) AL CEO Evans said co pursuing acquisitions downstream more than upstream; aims for more acquisitions in China.
- BEA Systems (BEAS) reports Q1 EPS $0.12 on revenues of 323.2mln, vs. Reuters 321.8mln and $0.10 expected.
- Burger King (BKC) will begin trading today; priced its initial public offering at $17 a share, the high end of its indicated range.
- Claire's Stores (CLE) warned earlier this month; then produced an as-expected flat quarter, blaming the timing of Easter.
- Gold Fields (GFI) said workers strike at two African mines; said 75% of workers stay away from Beatrix mine, 65% at Kloof mine.
- Google (GOOG)/ KDDI (Japan) announced company's in pact to offer internet search via mobile handset starting from July.
- Healthsouth (HLSH) announced company reaches non-prosecution agreement with US DOJ relating to accounting fraud by former management.
- Intercontinental Exchange (ICE) announced it will start trading 10 new fuel oil and tanker derivative contracts in mid June.
- Knight Ridder (KRI) reported April ad revenues up 2.3%; optimistic that May will reinvigorate the quarter; May showing stronger results.
- Netease.com (NTES) announced board ok's $50m stock buyback program.
- UPS (UPS) announced a $1 billion expansion at its main air hub in Louisville, Ky., that will add more than 5,000 jobs.
- Rio Tinto (RTP) announced company in iron ore supply pact with Japanese steel mills for prices up 19% year-on-year.
- Ultra Petroleum (UPL) board approves share repurchase of ip to $1 billion.
- Yahoo (YHOO) is making several strategic "big bets" for the next five years to embrace new technologies and is planning to roll out its new search-advertising ranking system in fourth quarter.
- Asian trading closed lower with the Hang Seng dropping -2.10% while the Nikkei gave back -1.35%.
- A look at the European bourses finds the CAC +0.15%, DAX +0.40% and FTSE -0.14%.
- Crude oil is trading -0.19 to 68.50 while gold is -4.3 to 687.5 so far this morning. For their part, stateside futes are above fair value.
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