Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stocks to Watch: Cisco, National Semiconductor, News Corp, PortalPlayer, Sirius, Toyota, Wendy's


Walking on broken glass


Stocks to Watch for Friday, June 9

  • Cisco (CSC) CEO Chambers will take on the additional title of chairman, succeeding John Morgridge. But he will give up his title as president, paving the way for him to name a potential heir apparent.
  • Celebrate Express (BDAY) said it now expects fiscal 2006 per-share earnings of 3 cents to 5 cents, compared with its previous outlook of 25 cents to 27 cents. The Kirkland, Wash.-based retailer of party goods also said it now sees revenue of $86.5 million to $87 million, vs. its previous forecast of $87.5 million to $88 million.
  • Cendant (CD) said it may simultaneously spin off its Realogy and Wyndham Worldwide units in the middle of next month instead of doing it at different times as was its original intent.
  • Ford's (F) credit rating was cut two notches by Fitch, which analyzed how creditors might fare under a bankruptcy-court filing.
  • Franklin Resources (BEN) , parent of the Franklin and Templeton mutual-fund groups, reported that preliminary assets under management, a key measure of fund company profitability, rose 18% to $492.2 billion as of May 31 from $417.3 billion in the same month a year ago.
  • Ingram Micro (IM) reaffirmed that it expects to earn between $49 million and $56 million, or 29 cents to 33 cents a share, for the second quarter.
  • Jos. A. Bank Clothiers (JOSB) said quarterly net fell 13%, citing weaker demand for year-round core merchandise even as the retailer marked down more items. Its shares fell 29%.
  • National Semiconductor (NSM) reported fiscal fourth-quarter net income of $118.6 million, or 34 cents a share, down from $130.2 million, or 36 cents a share, in the year-ago period.
  • NeoMagic (NMGC) reported a first-quarter net loss of $5 million, or 53 cents a share, compared with a net loss of $1.65 million, or 25 cents a share, during the year-ago period.
  • News Corp.'s (NWS) Star Group sold a 19.9% stake in Phoenix to China Mobile, a move that may help the TV broadcaster expand in China.
  • PortalPlayer (PLAY) said it plans to reduce its worldwide workforce by about 45 employees, or 14%, mainly at its U.S. locations. The designer of technology platform solutions estimates the related annual cost savings will be $6 million and $7 million.
  • Quiksilver (ZQK) earned $3.7 million, or 3 cents a share in its fiscal second quarter - a fraction of the $34.7 million, or 28 cents, of the year-ago period. Revenue jumped 21% to $516.9 million, largely on the back of its acquisitions of Rossignol and Cleveland Golf.
  • Rentrak (RENT) reported fourth-quarter net earnings of $1.58 million, or 14 cents a share, compared with $760,000, or 7 cents a share, during the year-ago period. The Portland, Ore.-based provider of video rental and sales information posted revenue of $28.4 million vs. $23.4 million.
  • Reynolds and Reynolds (REY) said net income for the first half of the year was $47 million, or 74 cents a share, compared with $44 million, or 67 cents a share, during the same period in the prior year.
  • Sharper Image (SHRP) said its first-quarter loss widened from that of a year ago as sales at stores open at least a year plunged 29%. San Francisco-based Sharper Image said it lost $12.6 million, or 84 cents a share, compared with a loss of $4.6 million, or 30 cents a share, a year earlier. Revenue dropped to $106.8 million from $144.9 million.
  • Salem Communications (SALM) said it still expects second-quarter net broadcasting revenue of $54.2 million to $54.7 million.
  • Shuffle Master (SHFL) lost $12.7 million, or 37 cents a share in its fiscal second, a turn from a year-ago profit of $6.8 million, or 19 cents. Taking out various charges, the gambling equipment company would have earned 21 cents a share on a continuing operations basis.
  • Sirius (SIRI) will invest $260 million in a new satellite to be built by Loral, as it ratchets up its battle with rival XM.
  • Smithfield's (SFD) profit plunged as a meat glut in the U.S. hurt prices. The world's largest pork processor posted an 8% drop in quarterly revenue.
  • Toyota (TM) executive said the company stands ready to add a second assembly line in Texas, if demand keeps up for its full-size pickup truck. Toyota plans to open 1,000 dealers in China by 2010 as part of an effort to capture a 10% slice of that country's auto market.
  • Vonage (VG) said the FTC concluded its investigation into the Internet telephone company's 911 disclosures and compliance, and won't take any related formal action.
  • Wendy's (WEN) said it will begin frying french fries and breaded chicken items with nonhydrogenated oil, eliminating most of the trans fats from its menu and aiming for more healthful choices for customers.
  • Xilinx (XLNX) backed its prior view for fiscal first-quarter sequential revenue growth of 1% to 5%. The company now expects a quarterly gross margin of 62%, less than its prior outlook of 62.5%.

Market Update:

  • Asian trading closed in the with the Hang Seng +1.16%, the Nikkei +0.81%, Sensex +5.54% and Taiwan +1.78%. Shanghai the sole gainer yesterday, seems to be a day behind and closed -2.52%
  • A quick check across the pond finds the CAC +1.57%, DAX +1.43% and FTSE +1.35%.
  • Crude oil is trading +0.57 to 70.92 while gold is also up +3.2 to 617.0.


Minyanville contributors may trade securities that are discussed on the site, both before and after the articles are published and/or may have a position in such securities for either personal or firm account(s). Minyanville contributors will indicate whether he or the firm has a position in stocks or other securities in any of the companies he discusses in an article. He will not disclose his or the firm's ownership of any securities issued by companies that are not discussed in an article. The disclosures will be accurate as of the time of publication of an article and may change at any time thereafter without notice to the reader.

The information on this website reflects an analysis of market conditions by Minyanville contributors and should not be interpreted as or deemed to be a recommendation to any investor or category of investors to purchase, sell or hold any security. Any investment decisions must in all cases be made by the reader or by his or her investment adviser. Minyanville contributors will not respond to requests for individual and specific investment advice.

The views expressed on this website are solely those of the writers whose articles appear on this site and do not necessarily reflect the views of the Fund or of any other person except where expressly indicated.

Copyright 2006 Minyanville Publishing and Multimedia, LLC. All Rights Reserved.
< Previous
  • 1
Next >
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.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos