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Stocks to Watch: AT&T, Coca-Cola, Goldman Sachs, Nokia, Toyota


Steer Clear!!!


Stocks to Watch for Monday, June 19

  • AT&T (T) is to launch a service combining Echostar satellite TV and movies from the Web, as it aims to catch up with cable firms.
  • Coca-Cola (KO) said it has renewed and expanded its global marketing partnership with the National Basketball Association. Financial terms of the deal weren't disclosed. Under the agreement, Coca-Cola and the NBA will create themed promotions to engage young people through digital programs, among other initiatives. Advertising will appear during international telecasts of NBA games and programming in 215 countries and in 46 languages, Coca-Cola added.
  • Ford (F) plans upgrades for three plants in Mexico as part of its North American restructuring, but hasn't decided on building a new facility there.
  • Goldman Sachs (GS) tapped Gary Cohn and Jon Winkelried to become presidents and co-chief operating officers, while John S. Weinberg will be named a vice chairman. The moves were triggered by CEO Paulson's nomination for Treasury secretary.
  • Hancock Fabrics (HKF) said that corrections for an actuarial error related to pension expense and benefit obligations will result in non-cash charges over prior years. The Baldywyn, Miss., fabric retailer said the cumulative after-tax impact over the period from 1988 through 2004 totals about $1.2 million, or 6 cents a share.
  • Lexar Media (LEXR) shareholders approved a takeover bid from Micron Technologies Inc., according to a statement from Lexar.
  • Marsh Supermarkets (MARSA), (MARSB) said it has filed a complaint naming MSH Supermarkets Holding Corp., MS Operations Inc., Cardinal Paragon Inc., and Drawbridge Special Opportunities Advisors LLC as defendants. The complaint asks for a declaratory judgment clarifying the company's rights and responsibilities under its May 2 merger agreement with MSH Supermarkets. Marsh, an Indianapolis supermarket operator, also said it has filed preliminary proxy materials with respect to the MSH Supermarkets merger. At this time, the board hasn't changed its recommendation of the merger with MSH Supermarkets, the company added. The complaint was filed in Superior Court in Hamilton, Ind.
  • Michaels Stores (MIK) has received a grand jury subpoena requesting documents relating to the granting of stock options dating back to 1996, according to a filing with the Securities and Exchange Commission. The Irving, Texas, arts and crafts retailer last week said it opened an internal probe into its stock option practices focused principally on the time period from 1990 to 2001.
  • Nokia (NOK) and Siemens agreed combine their phone-equipment units into a joint venture with assets valued at more than $30 billion.
  • A Qualcomm (QCOM) technology that could compete with WiMAX may be delayed after a standard setter temporarily halted its review.
  • Toyota (TM) is considering two locations in Tennessee to build what would be its eighth North American vehicle assembly plant, according to a report in the online edition of the Wall Street Journal over the weekend citing Tennessee Gov. Phil Bredesen. According to the report, Bredesen said Tennessee is on a relatively short list of sites in different U.S. states Toyota is considering.
  • Willbros Group (WG) said it has filed its results for the third quarter of 2005, for the year ended Dec. 31, 2005, and for the first quarter of 2006. For the first quarter of 2006, Willbros reported a net loss of $4.59 million, or 22 cents a share, compared with a net loss of $9.9 million, or 47 cents a share, during the year-ago period. The Houston-based contractor to the oil, gas and power industries posted revenue of $248.5 million vs. $131.6 million.

Market Update

  • Asian trading closed with the Hang Seng -0.47%, Nikkei -0.13% and the Sensex +1.15%
  • A quick check across the pond finds the CAC +1.21%, DAX +1.60%, FTSE +0.86%, ATX +1.07%, Swiss Mkt +1.36% and Stockholm +1.58%
  • Crude oil is trading -0.70 to 69.18 while gold is -11.4 to 570.3 so far today. For their part, stateside futes are hanging right around fair value.


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