Stocks to Watch: Advanced Micro Devices, Alcoa, Apple, General Electric, Kinder Morgan, Sun
I always feel like somebody's watching me.
Stocks to watch for Tuesday, May 30:
- Advanced Micro Devices (AMD) to expand in Dresden and spend $2.5 bln over next three years.
- Alcoa (AA) aluminum prices hinge on whether co. can avoid strike by workers at plants that produce 1.2 mm metric tons - WSJ.
- Apple (AAPL) report on Wired site speculates on Nike/Apple deal; opportunities could promise sports tech boom.
- CTC Media plans to offer 20.4 million shares at $16-$18 with underwriters Morgan Stanley (MS: News, Quote) and Deutsche Bank. The company plans to trade under the symbol "CTCM" on the Nasdaq.
- Engelhard (EC) is near a deal to accept BASF's (BF) $4.8 billion, or $39 a share offer after pressure from its shareholders not to miss out on the buyout opportunity.
- General Electric (GE) plans a new push to generate billions of dollars of revenue in India; expects sales in India to reach $8 billion annually by 2010 - WSJ.
- General Motors (GM) plans to build its own factory in Russia as well as try to salvage a troubled joint venture with the country's largest car-maker.
- HSBC (HBC) said revenue is continuing to outgrow costs and that corporate credit quality remains strong.
- Ipsco (IPS) said it will extend its share buyback program to include its U.S.-listed shares.
- Kinder Morgan's (KMI) management proposed taking the oil-and-gas pipeline company private in a $13.5 billion deal that would be the biggest management-led buyout in history and one of the largest leveraged buyouts ever.
- Level 3 Communications (LVLT) Tuesday said it plans to sell 125 million common shares and $150 million worth of convertible senior notes due 2012 in two separate offerings.
- Power Integrations (POWI) said it has received notice from the Nasdaq that the company is not in compliance with filing rules. The power conversion products supplier has yet to file its report for the quarter ended March 31.
- Sovereign Bancorp (SOV) said the company and Banco Santander Central Hispano S.A. (STD) have received all required regulatory approvals to complete Santander's $2.4 billion investment in Sovereign and Sovereign's acquisition of Independence Community Bank (ICBC).
- Sun Microsystems (SUNW) upped to buy from neutral at UBS; anticipates 5,000 job cuts.
- Tribune Company (TRB) said it will buy back up to 75 million shares of its common stock, which would represent 25% of the total shares outstanding and have a total market value estimated at more than $2 billion.
- Vodafone Group (VOD) reported a $41 billion loss in the 12 months ending March 31; plans to return $17 billion to shareholders and increase its dividend.
- Asian trading closed with the Hang Seng -0.66% while the Nikkei dipped -0.35%.
- A check of the European bourses finds the CAC -0.95%, DAX -1.17% and FTSE -1.11%.
- Crude oil is trading +1.04 to 72.41 while gold is +1.5 to 652.5 so far today. For their part, stateside futes are below 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