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Stocks to Watch: Alcoa, Amazon, Boeing, Home Depot, JNJ, Sony, Schering-Plough


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Stocks to watch for Friday, June 2

  • Alcoa (AA) reached a master contract with workers that caps certain legacy costs and links pay to performance, avoiding a strike that could have boosted global aluminum prices.
  • Online retailer (AMZN) said that its 2006 operating profit could be hit by as much as $50 million, with $25 million of that charge taken in the second quarter, due to its litigation with
  • Boeing (BA) posted orders worth more than $5.8 billion for a range of single-aisle and widebody planes, marking one of the largest weeks in new airplane orders this year.
  • A Bristol-Myers (BMY) drug appears to slow the progression of certain types of leukemia in patients who failed other treatments including Novartis's Gleevec, the FDA said based on preliminary clinical studies.
  • Continental Airlines (CAL) said May load factor was 81% compared with 79.1% during the same period in the prior year. Traffic rose 14.6% to 7.65 billion revenue passenger miles.
  • General Motors (GM) will spend $332 million to enable its plant in Warren, Mich., to produce front-wheel-drive automatic transmissions for five of its vehicles.
  • Home Depot (HD) said at least 30% of shareholder votes were withheld from 10 of its 11 directors, including its chairman and CEO.
  • Johnson and Johnson's (JNJ) Scios unit said it plans to launch a study of its heart drug Natrecor to evaluate such factors as death and kidney damage.
  • Motorola (MOT) agreed to buy TTP Communications, a U.K.-based developer of software and chips for mobile phones, for about $192 million.
  • Quest Software (QSFT) said the SEC has launched an informal inquiry into the company's past practices regarding stock-option grants.
  • Sony (SNE) Bertelsmann are discussing changes in their Sony BMG music venture. Two executives at the business's music label stepped down in a shake-up.
  • Schering-Plough (SGP) said it will close a plant in Puerto Rico as part of an overhaul that will cut 1,100 jobs at the drug maker.

Market Update:

  • Asian trading closed higher with the Hang Seng gaining +1.71%, the Nikkei adding +1.84% and the Sensex up 3.77%
  • A quick check across the Atlantic finds a sea of green with the CAC +1.13%, DAX +0.66% and FTSE +0.45%.
  • Crude oil is trading up 0.8% to 70.90 while gold is up 0.49% to 636.6, silver is at 11.85 and copper is flat at 3.57 this morning. SP Futures are up 2.2 to 1288 while Nasdaq 100 futures are up by 5 to 1624.


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