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Stocks to Watch: Citigroup, Ford, GE, Hewlett-Packard, UPS


Off and running


Stocks to watch for Monday, July 17

  • Biopure (BPUR) said it is "disappointed" that the Food and Drug Administration cancelled a meeting to consider a proposed clinical trial by the Navy of Biopure's investigational blood substitute.
  • Brooks Automation (BRKS) said it expects to complete its March quarterly filing within a couple of weeks. Brooks added that its internal investigation into past stock-option grants is "just about" complete.
  • Chevron (CVX) USA unit and USA Petroleum Corp. said Chevron will buy 122 USA Petroleum retail gasoline stations in California.
  • Citigroup's (C) net income rose 3.8% amid the opening of new consumer branches and growth in the financial-services provider's international and U.S. consumer revenue.
  • Electronic Data Systems (EDS) said it has been selected as a prime contractor for the Army's information technology enterprise solutions - 2 services contract. EDS is one of 11 companies who were awarded contracts under the 9-year, $20 billion indefinite delivery/indefinite quantity contract.
  • Embraer-Empresa Brasileira de Aeronautica (ERJ) reported it delivered 36 aircraft in the second quarter.
  • Enterprise Products Partners (EPD) said the board of its general partner has increased the second-quarter cash distribution 1.7% to 45.25 cents a unit from 44.5 cents a unit in the prior quarter. The distribution is payable Aug. 10 to unit holders as of July 31.
  • Ford (F) said it will invest $1.82 billion in Britain within six years to develop fuel-efficient hybrid cars.
  • General Electric's (GE) earnings rose 4.4%, but shares fell to near a 52-week low on investor disappointment over thinner profit margins.
  • Hewlett-Packard (HPQ) has developed tiny data-storage chips, smaller than grains of rice, designed to be stuck to nearly any physical surface. Information can be stored or read wirelessly by a device placed within a millimeter of the chips.
  • Intel (INTC) is set to introduce a long-delayed chip, code-named Montecito, which is the first in the Itanium line to pack the equivalent of two electronic brains on a single piece of silicon.
  • Isonics (ISON) said it received a letter on July 10 from the Nasdaq indicating that its share price for 30 consecutive days has closed below the minimum required for listing.
  • Mair Holdings (MAIR) Mesaba Aviation Inc. unit said the U.S. Bankruptcy Court for Minnesota granted its motion to reject its contract with flight attendants, pilots and mechanics.
  • SigmaTron International (SGMA) reported higher selling and administrative expenses as fourth-quarter net income fell to $218,000, or 6 cents a share, from $915,000, or 24 cents a share, during the same period in the prior year.
  • United Airlines is moving its headquarters staff to downtown Chicago early next year, after scouting locations that included San Francisco and Denver, as the carrier continues to try to pare expenses.
  • UPS (UPS) said it has received a subpoena from the Antitrust Division of the Department of Justice requesting records relating to an ongoing criminal investigation. The investigation relates to air-cargo-pricing practices.

Market Update:

  • Asian trading closed with the Hang Seng -0.44%, Taiwan -2.65%, Sensex -3.61%, Jakarta -1.51% while the Nikkei was closed.
  • A quick look across the pond finds the CAC -0.78%, DAX -0.36%, FTSE -0.32%, Stockholm -0.58% and ATX -1.76%.
  • Crude oil is trading -0.91 to 76.12 while gold is -1.6 to 666.4. For their part, stateside futes are below fair value.
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No positions in stocks mentioned.

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