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Stocks to Watch: Apple, Intel, Microsoft, United Health, Wal-Mart, Yahoo!

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Lock and Load

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Stocks to watch for Thursday, July 20

  • Abbott Laboratories (ABT) reported a 30% decline in second-quarter profit, mainly on charges associated with its acquisition of Guidant's vascular unit.
  • Alliance Data Systems (ADS) said second-quarter revenue rose as net income grew to $44.8 million, or 55 cents a share, from $34.4 million, or 40 cents a share, during the same period in the prior year.
  • Allstate (ALL) reported second-quarter results that beat analysts' estimates, and the company raised its full-year profit forecast after a strong performance from its auto insurance business.
  • Amdocs (DOX) reported third-quarter net earnings of $85.6 million, or 39 cents a share, up 11% from $77.1 million, or 36 cents a share, during the year-ago period. The software company posted revenue of $626.4 million vs. $507.4 million.
  • AMR and Southwest (LUV) reported a jump in profits, signaling a continuing airline-industry rebound.
  • Apple's (AAPL) profit jumped 48%, boosted by continued strong demand for iPods and higher sales of Macs.
  • Stung by a $78 million merger-termination fee, casino company Aztar (AZR) slipped into the red in the second quarter, losing $66.1 million, or $1.84 a share, a turn from the $15.5 million, or 41 cents, it earned in the same period of 2005.
  • Bank of America's (BAC) net rose 18% and J.P. Morgan's profit more than tripled. Big U.S. banks are now pursuing "organic" growth.
  • BetOnSports shut down its Web site a day after a federal judge ordered the offshore sports-betting operation to stop letting Americans place wagers.
  • Citrix Systems (CTXS) reported second-quarter earnings of $46.5 million, or 24 cents a share, compared with $27.9 million, or 16 cents a share, in the same period last year.
  • Cubist Pharmaceuticals (CBST) reported a second-quarter net loss of $5.07 million, or 9 cents a share, compared with a net loss of $7.74 million, or 15 cents a share, in the same period last year.
  • EBay (EBAY) reported that second-quarter profit fell 14%, hurt by the cost of employee stock options, while sales surged as expected on growth in its online payment unit. San Jose, Calif.-based eBay said net income for the three months ended in June fell to $250 million, or 17 cents a share, from $291.6 million, or 21 cents, a year ago.
  • Endo Pharmaceuticals Holdings (ENDP) said it has submitted a supplemental new drug application to the Food and Drug Administration for Frova for the short-term prevention of menstrual migraines.
  • E-Trade Financial (ET) reported a 52% increase in quarterly net income thanks to growth of new accounts and an increase in high-value clients, and lifted its full-year earnings forecast.
  • General Dynamics' (GD) profit rose 84%, driven by an asset sale and demand for tanks, armored vehicles and business jets. The military contractor also raised its full-year outlook.
  • Gilead Sciences (GILD) said it has agreed to exercise its option to purchase Corus Pharma for $365 million.
  • Hyundai Motor said production losses from a continuing strike by its labor union have reached $1.07 billion, disrupting vehicle shipments to overseas and domestic customers.
  • IMS Health (RX) posted second-quarter net earnings of $62.7 million, or 30 cents a share, down from $93.2 million, or 41 cents a share, in the same period last year. Revenue rose to $486.2 million from $433.3 million.
  • Intel's (INTC) profit shrank 56% as the chip giant took a hit for stock-options expensing and coped with stiff competition from AMD.
  • Intersil (ISIL) reported second-quarter net earnings of $43 million, or 30 cents a share, compared with $17.3 million, or 12 cents a share, in the year-ago period.
  • Kinder Morgan (KMI), in the midst of the biggest U.S. management-led buyout ever, posted an 11% rise in second-quarter earnings, building its results on a strong performance by its vast natural gas pipeline and storage operations and a solid contribution from a recently-acquired Canadian gas utility.
  • Knight Transportation (KNX) reported second-quarter earnings of $18.1 million, or 21 cents, compared with $15 million, or 17 cents, in the same period last year. Quarterly revenue rose 24% to $165.8 million vs. $133.9 million.
  • Lam Research (LRCX) said fourth-quarter revenue rose as net income reached $122.1 million, or 84 cents a share, from $66.5 million, or 47 cents a share, during the same period in the prior year.
  • Microsoft (MSFT) is adopting voluntary principles aimed at warding off future antitrust complications, its general counsel said.
  • MGI Pharma (MOGN) said it swung to a loss in the second quarter on stock options expenses and a charge related to one of its investments.
  • Motorola (MOT) said second-quarter profit jumped 46% as the company shipped a record number of wireless phones and benefited from a large one-time tax gain and a legal settlement.
  • Novellus Systems (NVLS) reported second-quarter net earnings of $52.7 million, or 42 cents a share, compared with $33.2 million, or 24 cents a share, during the year-ago period. The chip-technology company posted revenue of $410.1 million, up 24% from $329.6 million a year ago.
  • Odyssey Re Holdings (ORH) said Chief Financial Officer Robert Giammarco plans to resign, effective Aug. 15.
  • Openwave Systems (OPWV) said it expects fiscal 2007 first-quarter revenue to be flat to modestly below the fourth-quarter level.
  • Owens & Minor (OMI) posted net earnings of $10.49 million, or 26 cents a share, vs. $15.97 million, or 40 cents a share, in the same quarter last year. The results included a pre-tax charge of $11.4 million, or 17 cents a share, related to the early retirement of debt, and $1.2 million, or 2 cents a share, for stock options expensing.
  • Playboy Enterprises (PLA) (PLAA) said it expects to post a second-quarter loss in the range of 10 cents to 13 cents a share. The forecast includes a 6-cent-per-share restructuring charge.
  • Qualcomm (QCOM) said third-quarter profit climbed 15%, as demand for chips and phones based on the company's wireless technology soared yet again.
  • Rambus (RMBS) said its second-quarter revenue rose 22% to $48.9 million from the previous year. The increase was mainly due to new patent licensing revenues.
  • RSA Security (RSAS), which has agreed to be acquired by EMC (EMC), said its quarterly profit sank 67% as higher expenses and restructuring charges more than offset a 23% increase in revenue.
  • Ryland (RYL) reported profit fell 9% and orders plummeted 39% in the quarter as the home builder, like others in the sector, struggles with a deteriorating housing market.
  • UnitedHealth's (UNH) profit rose 26%, reflecting its PacifiCare acquisition and strong enrollment in its Medicare drug-benefit plan.
  • Wal-Mart (WMT) won a victory as a federal judge struck down a Maryland law requiring big employers to provide more health coverage.
  • Washington Mutual (WM) reported a 9% drop in second-quarter net income on charges stemming from the sale of mortgage-servicing rights to Wells Fargo (WFC).
  • Yahoo (YHOO) shares tumbled 22%, their biggest-ever percentage drop, after the company said it would delay search-ad improvements.
  • Profit growth at all three of its divisions helped Yum Brands (YUM) push its second-quarter profit up 8%. The company said it earned $192 million, or 68 cents a share, on the period, up from the $178 million or 59 cents a share it earned in the year-ago quarter.


Market Update:

  • Asian trading closed with the Hang Seng +2.33%, Nikkei +3.08, Taiwan +2.65%, Sensex +3.45%, Jakarta +2.74% and the Shanghai +0.61%.
  • A quick look across the pond finds the CAC +0.65%, DAX +0.39%, FTSE +0.27%, Stockholm -0.02% and ATX +0.57%.
  • Crude oil is trading +0.36 to 73.02 while gold is -0.1 to 642.70. For their part, stateside futes are below fair value.
No positions in stocks mentioned.

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