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Stocks to Watch: Dell, Freddie Mac, Genzyme, Sony, Verizon

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All along the watch... tower... for stocks and stuff... or something. Dude, it's Jimi!

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Stocks to watch for Tuesday, May 9:

  • Dell (DELL) said it expects to report fiscal 1Q profit below its previous forecast, while revenue will be at the low end of its prior estimate; had to cut prices to maintain its leading share of the personal computer market; may impact Intel (INTC).
  • Ditech Communications (DITC) said it expects F4Q earnings of $0.06 - $0.07/share on revenue of $20 million; forecast gross margins of 70% to 71%. Analysts polled by Thomson First Call looking for earnings of $0.04/share on revenue of $18 million; said it expects 1Q revenue growth of 10% sequentially and for gross margins to be flat to slightly down.
  • Dominion Homes (DHOM) reported a 1Q net loss of $3.9 million, or $0.49/share. Revenue fell 33% to $61.8 million from $92.6 million, while home deliveries fell to 315 from 478. Home sales fell 25%, to 475 from 626 last year. The company said it does not expect 2006 to be a profitable year.
  • DuPont (DD) being sued by owners of Teflon-coated cookware, claim the company failed to disclose potential dangers - WSJ.
  • Fannie Mae (FNM) upgraded to Neutral from Sell at BofA.
  • Freddie Mac (FRE) upgraded to B from Neutral - FREs litigation settlement as catalyst - at BofA
  • Fluor (FLR) citing a brisk demand in many of its main markets, said it nearly doubled its net profit in the first quarter; boosted earnings outlook for the rest of the year.
  • General Motors (GM) said it was profitable in the first quarter, after it finalized its financial results to reflect the accounting treatment for its retiree health-care settlement and other items. 1Q EPS $0.32 vs. previously reported ($0.57); GMAC reported 1Q net $672m vs previously reported $605m.
  • Genzyme (GENZ) downgraded to Neutral from Overweight on competitive threats to company's Gaucher and Fabry disease franchises at JPM.
  • Lamar Advertising (LAMR) reported 1Q EPS $0.01/ FC $0.03 on revenues of $253.3m/ FC $247.92m; sees 2Q revenues $284m/ FC $283.24m.
  • M Systems Flash Disk (FLSH) may announce new technology that will allow it to increase amount of data stored on chip 30% without raising costs.
  • Mittal Steel (MT) said it was willing to increase its bid valued at more than $25 billion for the world's second-largest steelmaker, Arcelor, if Arcelor would recommend a bid.
  • OSI Pharmaceuticals (OSIP) 1Q net loss of $17.9 million, or $0.31/share. Sales were $35.7 million. On an adjusted basis, the company said it had net income of $0.05/share. Analysts polled by Thomson First Call expected, on average, that the company would lose $0.11/share.
  • SanDisk (SNDK) said it plans to sell $1 billion of convertible senior notes due 2013. The supplier of flash memory data storage card products said it expects to grant the underwriters an option to purchase up to an additional $150 million of notes.
  • Sonus Networks (SONS) reported 1Q net earnings of $5.74 million, or $0.02/share. Excluding stock-based compensation expense, the profit was $7.6 million, or $0.03/share. Revenue rose to $60 million. Analysts polled by Thomson First Call had forecast earnings of a penny a share on revenue of $54 million.
  • Sony (SNE) announced PS3 ASPs $499-$599; to launch in Japan Nov. 11, US and EU Nov. 17; company to sell 20GB-60GB versions.
  • ValueClick (VCLK) said late Monday its quarterly profit rose 13% and revenue more than doubled, helped by acquisitions.
  • Verizon (VZ)/ Vodafone (VOD) VOD rejected offer of $38bln from VZ for VODs 45% stake in VZW; VOD seeking deal closer to $50bln.
  • Wachovia (WB) defended its deal to purchase Golden West, but investors and analysts were spooked by the 14% premium being paid for the savings and loan - WSJ.



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