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Stocks to Watch: Exxon, Ford, General Electric, Sun Microsystems, Tiffany's

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Hit the ground running...

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Stocks to watch for Thursday, June 1:

  • Delta (DALRQ) pilots ratified a deal with the carrier that calls for $280 million in annual concessions. A bankruptcy court judge has approved the agreement.
  • Exxon (XOM) shareholders approved a nonbinding resolution opposed by management and offered lukewarm support for some directors.
  • Ford (F) is set to begin a sales incentive campaign aimed at easing two of the main economic pressures on consumers: high gasoline prices and rising interest rates.
  • General Electric (GE) and Credit Suisse will team in a $1 billion project to invest in infrastructure projects worldwide, the companies announced Wednesday.
  • Marvel's (MVL) studio unit said Avi Arad would give up the posts of chairman and CEO but remain involved with an independent production deal.
  • Goldman resigned as an adviser on Mirant's (MIR) offer for NRG Energy (NRG), after NRG accused the firm of giving secret information to its suitor.
  • Starwood Hotels (HOT) plans to take elements from its upscale Westin hotel chain and plug them into a new extended-stay brand
  • Sun Microsystems (SUNW) said it will lay off as many as 5,000 workers over the next six months to help it return to consistent profitability.
  • Tiffany's (TIF) profit rose 7.7% as strong international sales offset a sluggish U.S. performance for the jewelry retailer.
  • West Corp. agreed to a buyout from an investor group led by Thomas H. Lee Partners and Quadrangle Group for about $4.1 billion, including debt. Its shares rose 13%.


Market Update:

  • Asian trading closed mixed with the Hang Seng dropping -1.34% and the Nikkei adding +0.24%.
  • A quick check across the Atlantic finds a sea of red with the CAC -0.76%, DAX -1.24% and FTSE 0.37%.
  • Crude oil is trading -0.47 to 70.82 while gold is -13.2 to 635.8 this morning. For their part, stateside futes are below fair value.


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No positions in stocks mentioned.

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.

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