Stocks to Watch: Apple, Brocade Communications, Dell, Gap, Microsoft
Watch yourself, now.
Stocks to watch for Friday, May 19:
- Aeropostale (ARO) reported 1Q net earnings $0.15/share on revenues of $246.3 million. In line with analysts polled by Thomson First Call.
- Alkermes (ALKS) 4Q reported $0.04/share on revenues of $53.7 million. On a pro forma basis, the company sees annual income of $5 million to $10 million, or $0.05 cents a share to $0.10 cents a share.
- Apple Computer (AAPL) filed a counter-suit against Creative Technology in an expanding legal dispute over patent rights involving their rival digital music players.
- BellSouth (BLS) demanded that USA Today retract claims that the company turned over customers' domestic telephone records to the NSA.
- Brocade Communications (BRCD) reported F2Q earnings $0.05/share, down on revenues of $182.7. Analysts polled by Thomson First Call had forecast earnings of $0.05/share on revenue of $160 million.
- Caremark Rx Inc. (CMX) said it has received a grand jury subpoena from U.S. Attorney for Southern District of NY seeking records related to stock-option grants; also said it has received a letter of informal inquiry from the SEC requesting documents related to stock-option grants and Caremark's relocation program.
- Dell (DELL) will begin using AMD chips in some high-end servers.
- Gap (GPS) reported a 17% profit slump due to declining clothing sales, and it reiterated its earnings forecast for the year.
- Illumina (ILMN) said it will sell 3.5 million shares at $25.50 each. The company said it expects to generate net proceeds of $83.6 million. Illumina added it has granted underwriters the option to purchase up to 525,000 additional shares to cover any over-allotment.
- Marvell Technology Group (MRVL) reported quarterly net income rose more than 18% from a year ago as sales of its chips for Internet networking gear and consumer electronic devices surged.
- Mittal Steel (MT) reportedly raised its bid for the world's number two steelmaker, Arcelor, by more than 30%. But CNBC Europe television reported Friday that it would not raise its bid, citing a European executive at Mittal. That contradicts reports from wire services and the Financial Times.
- Novavax (NVAX) pharmaceutical developer said it signed an accord under which it and Esprit Pharma will develop, supply and market Novavax's treatment for female hypoactive-sexual-desire disorder.
- SAP (SAP) told the Financial Times that the firm would be open to being bought but only saw Microsoft (MSFT) IBM (IBM) and Google (GOOG) as possible buyers.
- Sanofi-Aventis (SNY) Ketek antibiotic has been linked by FDA safety reviewers to 12 cases of liver failure.
- Symantec (SYMC) said that it filed a lawsuit against Microsoft (MSFT) alleging the company misappropriated Symantec intellectual property and breached a contract between the two companies.
- Tsakos Energy Navigation (TNP) said it has filed a $300 million shelf registration statement with the U.S. Securities and Exchange Commission.
- Vitesse Semiconductor (VTSS) said it has received a grand jury subpoena from the office of the U.S. Attorney for the Southern District of NY seeking documents dating back to 1999 related to the company's stock-option grants; also said it has been notified that the SEC is investigating.
- Asian trading closed up with the Hang Seng +0.29% while the Nikkei gained +0.42%.
- A quick check across the pond finds the CAC +0.80% and the DAX and FTSE hovering just below the flatline.
- Crude oil is trading +0.45 to 69.90 while gold is +0.3 to 681.2 so far on the session. For their part, stateside futes are above fair value.
THIS CONTENT IS FOR EDUCATIONAL PURPOSES AND IS NOT INTENDED AS ADVICE.
Minyanville contributors may trade securities that are discussed on the site, both before and after the articles are published and/or may have a position in such securities for either personal or firm account(s). Minyanville contributors will indicate whether he or the firm has a position in stocks or other securities in any of the companies he discusses in an article. He will not disclose his or the firm's ownership of any securities issued by companies that are not discussed in an article. The disclosures will be accurate as of the time of publication of an article and may change at any time thereafter without notice to the reader.
The information on this website reflects an analysis of market conditions by Minyanville contributors and should not be interpreted as or deemed to be a recommendation to any investor or category of investors to purchase, sell or hold any security. Any investment decisions must in all cases be made by the reader or by his or her investment adviser. Minyanville contributors will not respond to requests for individual and specific investment advice.
The views expressed on this website are solely those of the writers whose articles appear on this site and do not necessarily reflect the views of the Fund or of any other person except where expressly indicated.
Copyright 2006 Minyanville Publishing and Multimedia, LLC. All Rights Reserved.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter