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Stocks to Watch: Intel, Microsoft, Gold Fields, Hovnanian, Tyson Foods


The MV morning call.


Stocks to Watch for Tuesday, May 2:

  • Aramark's (RMK) CEO proposed to take the food-service firm private in a deal that would value it at $5.94 billion.
  • Chesapeake Energy (CHK) said its net earnings jumped as oil and gas production set a record for the 19th consecutive quarter.
  • Corus Group PLC (CGA) in pact with Roche Bay to acquire 3,5 m tons per year of iron ore for 10 years through 2010.
  • Emerson Electric (EMR) reported 2Q EPS $1.05/ FC $1.00 on revenues of $4.9bln/ FC $4.68bln; sees FY EPS $4.25-$4.35/ FC $4.25 on revenues up 12-15% y/y.
  • Fisher Scientific International (FSH) said first-quarter net income was $0.79/shr, on revenue of $1.41 billion.
  • Gold Fields LTD (GFI) reported EPS $0.76/ FC $0.82, cash costs $372/oz. vs $341/oz in 2Q; sees 4Q production flat sequentially, cash costs flat sequentially; CEO said trend in gold price looking positivie, expects gold prices to go higher; company pursuing acquisition opportunities.
  • Great American Financial Resources (GFR) has agreed to acquire Ceres Group (CERG) for $205 million, or $6.13 a share in cash.
  • Hovnanian Enterprises (HOV) cut its second-quarter and full-year earnings forecasts late Monday amid production delays, slower sales and other issues that suggest the homebuilder is feeling the effects of a cooling U.S. housing market.
  • Humana (HUM) upped to neutral at UBS.
  • Intel (INTC) company to spend +$1bln over next five years to increase use of PCs in poor countries; World Ahead program to develop low cost PCs, build wireless infrastructure and give computers to schools and educate teachers
  • Iron Mountain (IRM) reported 1Q EPS $0.19/ FC $0.21 on revenues of $563.7m/ FC $556.42m; sees 2Q revenues $565m-$578m/ FC $566.65m, FY capex $320m-$360m on revenues up 7-9% y/y.
  • JetBlue (JBLU) cut to underweight at J.P. Morgan.
  • Lehman (LEH) cut at Wachovia, trading revenue seen lower.
  • Microsoft (MSFT)/SAP announced they are on track to ship Mendocino program on time for June.
  • Nordic American Tankers (NAT) reported 1Q EPS $1.23/ FC $1.29; company to pay dividend $1.58/shr; 1Q spot market lower than 4Q; sees short term rates continuing to vary and be volatile.
  • Principal Financial Group (PFG) reported better than expected first-quarter results after the company sold a record amount of retirement-savings products.
  • RR Donnelley (RRD) reported 1Q EPS $0.57/ FC $0.57 on revenues of $2.3bln/ FC $2.08bln; announced company awarded multi-year MSO pact, adds holiday special magazine; sees FY EPS $2.45-$2.50/ FC $2.49.
  • Research In Motion (RIMM) was sued for patent infringement by Visto, a wireless email software firm seeking to halt U.S. BlackBerry sales.
  • St. Paul Travelers (STA) lifted its 2006 earnings outlook and said it would buy back $2 billion in shares.
  • Southwest Airlines (LUV)upgraded to overweight at J.P. Morgan.
  • Syntroleum (SYNM) reported 1Q EPS ($0.23)/ FC ($0.18) on revenues of $428k.
  • Tyson Foods (TSN) posted a loss of $127 million, citing an "overabundance" of meat; optimistic market could strengthen in the current half.
No positions in stocks mentioned.

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