Stocks to Watch: Amazon, Bear Stearns, Google, KB Home, Microsoft, Philips
Shine on brightly...
Stocks to watch for Friday, June 16.
- Amazon (AMZN) has begun selling groceries on its Web site, a careful step by the company into what has been a challenging space for online retailers.
- Bear Stearns (BSC) said second-quarter profit surged 81% to a record $539 million, helping to reverse a recent decline in brokerage stocks.
- General Motors (GM) faces industrial action across its European factories as trade unions campaign against the shift of production from the west to cheaper countries in the east.
- Google (GOOG) is testing GBuy online payment system. CEO Eric Schmidt said GBuy is not like eBay's (EBAY) PayPal at all; the system is targeted at advertisers and not general consumers.
- KB Home (KBH) posted higher profit and revenue, but echoed other home builders in lowering expectations in a cooling market.
- Logitech (LOGI) CEO reaffirms FY op income is up 15% y/y, on revs up 15% y/y.
- Bill Gates on Thursday announced his intentions to leave his full-time role at Microsoft (MSFT). Said he would switch his attention instead to philanthropy.
- Oracle (ORCL) announced higher-than-expected preliminary profit and revenue for the latest quarter on strong growth across its business.
- Philips (PHG) agreed to buy Intermagnetics, a maker of magnets used in MRI systems, for $1.3 billion.
- Asian trading closed with the Hang Seng +2.64%, Nikkei +2.82%, Sensex +3.56%, Shanghai +2.64% and Taiwan +2.32%.
- A quick check across the pond finds the CAC +0.71%, DAX +0.67%, FTSE +0.89% and ATX +4.01%.
- Crude oil is trading +0.18 to 69.68while gold is +12.9 to 583.2 so far today. For their part, stateside futes are hanging right around fair value.
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