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Stocks to Watch: Applied Materials, Disney, Ford, GM, Heritage, Kraft


I always feel like someone's watching me


Stocks to watch for Monday, July 10

  • Apollo Investment (AINV) said former U.S. senator Thomas Daschle has resigned from its board effective as of today. Daschle told the New York-based investment company that he resigned because other commitments made him unable to continue as a director.
  • Applied Materials (AMAT) said it has completed its $464 million cash acquisition of Applied Films Corp., a supplier of equipment used in manufacturing flat panel displays.
  • AT&T (T) and BellSouth's (BLS) Cingular Wireless said it is refuting points made in a lawsuit against the company by the Foundation for Taxpayer and Consumer Rights. The foundation has alleged that Cingular Wireless misled and overcharged millions of AT&T cell phone users when Cingular bought AT&T Wireless.
  • Centro Watt agreed to buy Heritage (HTG) for $1.83 billion, doubling the Australian-American venture's U.S. strip-mall holdings.
  • Disney's (DIS) bet on "Pirates of the Caribbean" paid off, as its first sequel scored the biggest North American opening weekend ever.
  • Falconbridge (FAL) reiterated its recommendation of Inco's (N) offer to acquire Falconbridge as a response to Xstrata Plc's extension of its current offer for Falconbridge.
  • Ford (F) said its first-half sales in China doubled from a year earlier to 74,395 vehicles, as its lineup gained popularity.
  • General Motor's (GM) board authorized CEO Wagoner to open talks with Renault and Nissan about forming an alliance that could potentially alter the global auto industry.
  • Gilead (GILD) and Bristol-Myers (BMY), in an unusual move, have combined three AIDS drugs into one pill that the FDA may soon approve.
  • Global Payment Technologies (GPTX) said Thomas Oliveri, chief operating officer, has resigned for personal reasons.
  • Hewlett-Packard (HPQ) plans to setup partnership in EU this yr to expand digital photo printing. The company wants to partner with retail companies to expand coverage of mini labs and kiosks that allow customers to develop digital pictures
  • Hologic (HOLX) said it signed a consent agreement with the Federal Trade Commission that would resolve the dispute regarding Hologic's acquisition of the Mammotest prone bed breast biopsy system intellectual property. Also, Hologic said the FTC has closed its investigation into Hologic's pending acquisition of Suros Surgical Systems Inc.
  • Hurray Holdings (HRAY) said it sees a significant negative impact on its wireless value added services business for the rest of 2006 due to new operator policies introduced by wireless operator China Mobile Communication Corp.
  • Intevac (IVAC) said it has filed a patent infringement lawsuit in the U.S. District Court for the Central District of California against Unaxis USA Inc., and affiliates. The suit claims infringement of a patent related to Intevac's 200 Lean magnetic media sputtering equipment.
  • Johnson Outdoors (JOUT) said it sees a loss of more than $1.2 million due to the flooding and temporary closure of its Binghamton, N.Y., plant and offices.
  • Kraft (KFT) is set to acquire a part of United Biscuits in a deal valued at $1.1 billion that will give the company control of brands like Ritz crackers in Europe.
  • Linn Energy (LINE) said the Nasdaq has indicated that the company is now compliant with all marketplace rules. The oil and gas concern added that its shares will remain listed. The company became current in its reporting requirements it filed its 2005 Form 10-K and first quarter 2006 Form 10-Q.
  • Mair Holding's (MAIR) Mesaba Aviation Inc. unit said June traffic fell 38.8% to 108.6 million revenue passenger miles. Load factor, or the percentage of a plane filled with passengers, rose 1.5 percentage points to 72.8%, while net capacity fell 40% to 149.3 million available seat miles.
  • Mediware Information Systems (MEDW) said Jill Suppes has stepped down as chief financial officer to pursue other interests.
  • MI Developments (MIM) said Doug Tatters has resigned from his position as chief financial officer. The Canadian real estate company said John Simonetti, its chief executive officer, will also be its interim CFO.
  • Nicor (GAS) said it has reached a tentative agreement with the staff of the enforcement division of the Securities and Exchange Commission in settlement of an anticipated civil action. Under the settlement, the Naperville, Ill.-based natural gas company will be subject to disgorgement of one dollar, a $10 million monetary fine and an injunction.
  • Parker Hannifin (PH) said June North American industrial orders rose 7% from levels reached during the same period last year. Rest-of-world industrial orders rose 8%.
  • Petroleum Development (PETD) said the Nasdaq has indicated that the company is compliant with its marketplace rules. Nasdaq will continue to list the concern's shares.
  • Teck Cominco (TCK) said it has received European regulatory clearance for its proposed acquisition of Canadian nickel mining company Inco (N). Teck Cominco said it has now received all necessary anti-trust clearances in its $16 billion bid to acquire Inco.

Market Update

  • Asian trading closed with the Hang Seng +0.88%, Nikkei +1.60% and Sensex 1.66%.
  • A quick look across the pond finds the CAC -0.08%, DAX -0.31%, FTSE -0.18% and ATX -0.54%.
  • Crude oil is trading -0.5 to 73.59 while gold is -10.3 to 624.5 .
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