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Stocks to Watch: Bob Evans, Google, IBM, Imclone, Intel, United Airlines, Walgreen's


Free Falling...


Stocks to Watch for Tuesday, June 6

  • After the closing bell Monday, a media report indicated that U.K. airport operator BAA Plc was close to reaching an agreement to be acquired by a Grupo Ferrovial SA(GRFRF) consortium for more than 10 billion pounds (about $19 billion), beating out a Goldman Sachs Group (GS) -led consortium.
  • Bob Evans (BOBE) said higher restaurant operating income helped boost fourth-quarter net income to $20.5 million, or 56 cents a share, up from $5.53 million, or 16 cents a share, during the same period in the prior year.
  • Bombay (BBA) named David Stewart chief executive officer. Previously, Stewart served as president of Blockbuster Inc.'s (BBI) Video Canada unit.
  • Brady Corporation (BRC) said it expects to post fiscal 2007 earnings between $2.28 and $2.38 a share with revenue in a range of $1.15 billion to $1.175 billion.
  • Brookfield and Blackstone agreed to buy Trizec in a $4.8 billion deal that confirms the office real-estate market remains hot.
  • Canada Southern Petroleum Ltd. (CSW) advised its shareholders to take no action at this time with respect to Canadian Superior Energy (SNG) planned bid that values Canadian Southern shares at about C$9.35 ($8.44) each.
  • Chartered Semiconductor Manufacturing (CHRT) reaffirmed its second-quarter forecast, saying the quarter is progressing "essentially in line" with what it had expected.
  • Constellation Brands (STZ) said it has closed its $1.43 billion acquisition of Canadian wine maker Vincor. The purchase price includes $1.2 billion in cash and the balance in the assumption of debt.
  • Cooper (COO) is expected to report second-quarter per-share income of 70 cents, according to analysts polled by Thomson First Call.
  • Emergency Medical Services (EMS) said it has agreed to acquire Air Ambulance Specialists Inc.
  • Google (GOOG) plans to release a Web-based spreadsheet application, in the search giant's latest foray into territory dominated by Microsoft (MSFT).
  • IBM's (IBM) shares will be eyed as the world's largest computer services company announced plans to invest nearly $6 billion in India over three years.
  • ImClone Systems (IMCL) reported data from five clinical trials for the investigational use of Erbitux as a treatment for metastatic colorectal cancer in combination with chemotherapy. In one study, the primary endpoint was overall survival, and secondary endpoints were response rate, progression free survival and toxicity. The response rate among patients treated with the combination of Erbitux and chemotherapy was 52% vs. 38% for patients treated with chemotherapy alone.
  • Intel (INTC) is trying to sell major portions of its communications businesses amid stiff competition.
  • Korn Ferry International (KFY) is expected to post earnings per share for the fourth quarter of 29 cents.
  • La-Z-Boy (LZB) is expected to report per-share income for the fourth quarter of 30 cents.
  • Northwest Airlines (NWACQ) reported its May consolidated load factor rose 3.5 percentage points over last year to 85.9%. The bankrupt carrier said traffic fell 5.6% as capacity came down 9.4% during the month.
  • Prudential (PRU) was ordered to pay a $14.5 million penalty by a panel that included a securities arbitrator accused of favoring Wall Street.
  • School Specialty Incorporation (SCHS) is seen posting a per-share loss for the fourth quarter of 43 cents.
  • United Airlines (UAUA) said its May load factor set a record for the Chicago-area company, rising 2 percentage points from last year to 83.8%.
  • US Airways (LCC) reported May traffic for combined US Airways and America West operations fell 7.7% while capacity came down by 10.8%.
  • Walgreen's (WAG) agreed to buy Happy Harry's, a 76-store regional drugstore chain based in Delaware. Financial terms weren't disclosed.

Market Update:

  • Asian trading closed with the Hang Seng dropping -0.27%, the Nikkei falling -1.81% and the Sensex down -2.51%
  • A quick check across the pond finds the CAC -1.43%%, DAX -0.86% and FTSE -1.05%.
  • Crude oil is trading -0.02 to 72.58 while gold is down -9.8 to 638.9


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