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Stocks to Watch: Ford, GM, Intel, Merrill, Microsoft, Pfizer, United Health


It's my way or the highway


Stocks to watch for Tuesday, July 18

  • Actions Semiconductor (ACTS) said second-quarter sales rose as net income climbed to $18.1 million, or 21 cents per American Depositary Share, from $17.2 million, or 22 cents per ADS, during the same period in the prior year.
  • Adtran (ADTN) said second-quarter sales rose as quarterly net income reached $20.8 million, or 27 cents a share, from $20.7 million, or 27 cents a share, during the same period in the prior year.
  • BetOnSports asked for trading in its shares to be suspended following the arrest of the online-gambling company's founder.
  • Bovie Medical (BVX) said it has filed a 510(k) marketing application with the Food and Drug Administration for an electrosurgical product for the gastroenterological market.
  • Buckeye Technologies (BKI) said it expects fourth-quarter profitability to be slightly above the level it achieved in third quarter. The maker of specialty fibers expects quarterly revenue to rise in the mid-single digits.
  • Constellation Brands (STZ) said it has agreed to create a joint venture with Grupo Modelo to import and market the Mexican brewer's beer in the United States and Guam for a 10-year period starting in January next year.
  • Crown Holdings (CCK) reported second-quarter net earnings of $50 million, or 29 cents a share, up from $28 million, or 16 cents a share, during the year-ago period.
  • Digi International (DGII) said third-quarter sales rose as net income increased to $3.35 million, or 14 cents a share, from $2.48 million, or 11 cents a share, during the same period in the prior year.
  • DynCorp International (DCP) said it has named Herb Lanese president and chief executive, effective immediately. Lanese replaces Stephen Cannon, who resigned after the company's initial public offering.
  • Federated Department Stores (FD) said it has completed the final transaction of its planned sale of Federated and May Co. credit card receivables to Citigroup (C). The sale yielded total pretax proceeds of about $1.1 billion, as well as a pretax book gain of $6.6 million.
  • Ford (F) said it will invest $1.8 billion in Britain within six years to develop fuel-efficient hybrid cars.
  • Franklin Electric (FELE) said higher sales boosted its second-quarter net earnings to $16.4 million, or 70 cents a share, compared with $13.5 million, or 59 cents a share, in the same period last year.
  • General Motor's (GM) board and Kirk Kerkorian stayed mum on Chairman Rick Wagoner's talks with Renault and Nissan CEO Carlos Ghosn. A top GM executive said the shift away from big discount deals is working, despite a decline in first-half sales.
  • Innovex (INVX) said quarterly restructuring charges decreased as the third-quarter net loss narrowed to $934,000, or 5 cents a share, from a net loss of $2.58 million, or 13 cents a share, in the same period last year.
  • 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.
  • Lindsay Manufacturing (LNN) said it has increased its quarterly cash dividend 8.3% to 6.5 cents from 6 cents a share.
  • Mattel (MAT) swung to a net profit in the second quarter, driven by toy lines based on the "Cars" and "Superman Returns" films
  • McDonald's (MCD) estimated second-quarter per-share earnings rose 60%, and it reported strong global sales.
  • Merrill (MER) became the latest brokerage to lure a State Department official to Wall Street, naming former U.S. diplomat Richard McCormack to the post of vice chairman.
  • Microsoft (MSFT) said it is changing how it reports financial results, presenting information beginning in fiscal 2007 based on five operating segments, down from a current seven segments.
  • Neurocrine Biosciences (NBIX) said second-quarter revenue fell as the net loss widened to $27.4 million, or 73 cents a share, from a net loss of $5.6 million, or 15 cents a share, during the same period in the prior year.
  • Onyx Software (ONXS) said its board has voted to recommend that shareholders reject Hong Kong-based CDC (CHINA) unsolicited $5-per-share offer.
  • Pactiv (PTV) said it has increased its repurchase authorization by 10 million shares to 12.1 million shares.
  • Pfizer (PFE) designated the consumer-health unit it's selling to Johnson & Johnson (JNJ) as a discontinued operation and released revised historical financial results to reflect the change.
  • PPD (PPDI) said higher sales and a drop in research and development expenses boosted its second-quarter earnings to $36.4 million, or 31 cents a share, compared with $20.8 million, or 18 cents a share, in the same period last year.
  • RadioShack (RSH) said David Barnes has resigned as chief financial officer, and will leave the company after a transition period.
  • Stanley Furniture (STLY) said second-quarter sales fell as net income dropped to $3.94 million, or 32 cents a share, from $5.83 million, or 44 cents a share, during the same period in the prior year.
  • Target (TGT) lowered its July sales forecast and now expects same-store sales to rise 3% to 4%. In after-hours trading, shares fell 3.2%.
  • Timken (TKR) said it now sees second-quarter earnings per share of 79 cents, or 89 cents on a pro forma basis. The Ohio provider of bearings and alloy steels had forecast a per-share result of 75 cents to 80 cents.
  • Despite a probe into UnitedHealth's (UNH) past options-granting practices, which has pushed its stock down 25%, some investors see a buying opportunity -- the company generates generous sums of cash and its earnings are still rising.
  • Universal Forest Products (UFPI) reported second-quarter net earnings of $27.3 million, or $1.41 a share, up 20% from $22.8 million, or $1.20 a share, during the year-ago period.

Market Update:

  • Asian trading closed with the Hang Seng -0.13%, Nikkei -2.75, Taiwan +0.44%, Sensex -0.65%, Jakarta +0.16% and the Shanghai +0.08%.
  • A quick look across the pond finds the CAC -0.36%, DAX -0.44%, FTSE -0.46%, Stockholm -0.96% and ATX -0.93%.
  • Crude oil is trading +0.81 to 76.11 while gold is -1.8 to 650.1. For their part, stateside futes are below fair value.
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