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Stocks to Watch: Apple, Brocade Communications, Dell, Gap, Microsoft

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Watch yourself, now.

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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.


Market Update

  • 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.


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