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: AMD, Brocade, Ford, Google, Halliburton, Honeywell, Nokia, Wachovia

By

Coming down to the final stretch

PrintPRINT

Stocks to watch for Friday, July 21

  • Advanced Micro (AMD) said net rose to $88.8 million on a 53% sales increase. Demand was strong for many semiconductor companies, but a high-profile price war overshadowed sales.
  • Armor Holdings (AH) said second-quarter costs rose as net income fell to $33.9 million, or 92 cents a share, from $37.4 million, or $1.05 a share, during the same period in the prior year.
  • Black & Decker (BDK) said it has increased its buyback program by 8 million shares, which account for more than 10% of the company's shares outstanding.
  • Brocade's (BRCD) former CEO and two other executives were charged with securities fraud in an alleged stock-options backdating scheme. The SEC is probing more than 80 firms for possible backdating.
  • Capital One Financial (COF) said second-quarter net income rose 4%. Results missed analyst estimates, mostly because of deterioration in the U.K. credit environment.
  • Chartered Semiconductor Manufacturing (CHRT) reported second-quarter net earnings of $12.3 million. A year ago, the company posted a net loss of $67.1 million.
  • Groups led by Citigroup (C) and Société Générale submitted revised bids for 85% of Guangdong Development Bank.
  • Coca-Cola (KO) authorized a new buyback of up to 300 million shares, representing nearly 13% of total outstanding shares.
  • Cognos (COGN) said the Securities and Exchange Commission has concluded its review of Cognos' periodic reports, and does not object to its revenue recognition policy.
  • Compuware (CPWR) reported first-quarter net earnings of $29.3 million, or 8 cents a share, compared with $24.6 million, or 6 cents a share, last year, as lower expenses offset slightly lower sales.
  • Continental Airlines (CAL) said its quarterly net profit nearly doubled as rising travel demand and fare increases helped offset higher fuel costs.
  • EarthLink (ELNK) posted a sharp drop in earnings, but executives said key growth initiatives, including Internet calling and municipal Wi-Fi services, will bolster results later this year.
  • F5 Networks (FFIV) said it can't publish income results for the third quarter until a special committee has completed its review of its stock-option grants, and that it is unlikely to file its quarterly report by an Aug. 14 deadline.
  • Ford (F) reported a surprise $123 million loss and said it would accelerate or deepen its restructuring plan. Its shares fell to $6.19.
  • Google's (GOOG) profit more than doubled and revenue surged 77% as the company continued to capitalize on strong Web-advertising demand and its dominance of online searches.
  • Gymboree (GYMB) said it expects to take a one-time, pretax charge of $3.4 million, or 7 cents a share, in the second quarter due to the retirement of its chairwoman, Lisa Harper.
  • Halliburton (HAL) reported a 51% increase in its second-quarter profit, with a sharp rise in oilfield services revenue more than offsetting a loss for its KBR subsidiary caused by a decline in U.S. Defense Department contracts.
  • Harrah's Entertainment (HET) increased its quarterly cash dividend 10.3% to 40 cents from 36.25 cents a share. The dividend is payable Aug. 23 to shareholders of record as of Aug. 9, the Las Vegas-based casino operator said.
  • The board of H.J. Heinz (HNZ) unveiled a series of corporate-governance changes as it tries to win shareholder favor in the middle of a proxy fight with a dissident shareholder group, led by billionaire Nelson Peltz.
  • Honeywell (HON) said its second-quarter profit rose 73% on strong sales growth. The maker of aerospace and control technologies also raised its full-year guidance.
  • Transport company Hub (HUBG) reported second-quarter net earnings of $12.5 million, or 30 cents a share, compared with $7.9 million, or 18 cents, a year ago. Revenue for the three months ended June 30 totaled $395.3 million, up 9.2% from $361.8 million in the year-ago quarter.
  • Hutchinson Technology (HTCH) said the third-quarter cost of sales and other expenses rose as net income fell to $5.84 million, or 22 cents a share, from $19.6 million, or 65 cents a share, during the same period in the prior year.
  • Hyperion Solutions (HYSL) reported fourth-quarter net earnings of $18.3 million, or 31 cents a share, compared with $20.7 million, or 33 cents a share, during the year-ago period. The Santa Clara, Calif.-based business software company posted revenue of $233.9 million vs. $189 million.
  • International Business Machines (IBM) said it has signed a 10-year business transformation outsourcing agreement with CVS (CVS) to manage human resources services for CVS pharmacies.
  • Leggett & Platt (LEG), with a year's worth of steep restructuring costs behind it, said its second-quarter profit rose 6.3% from a year ago and nudged up the lower end of its 2006 earnings forecast.
  • Nokia's (NOK) net rose 43%, driven by strong sales of high-end cellphones that include cameras, music players and offer Internet access. Revenue rose 22%.
  • Oakley (OO) said second-quarter operating expenses rose as net income fell to $17.9 million, or 26 cents a share, from $24 million, or 35 cents a share, during the same period in the prior year. The California sunglasses company said quarterly revenue rose to $203.6 million from $170.5 million.
  • PG&E (PCG) Pacific Gas and Electric Co. said its $1.74 billion proposal to invest in new high-tech electric and gas meters has received approval from the California Public Utilities Commission. To fund the installation, PG&E said it is seeking "slight" rate increases.
  • Roche's (RHHDY) diagnostics unit Thursday evening said a New York district judge has ruled in its favor on aspects of patent infringement allegations brought by EnzoBiochem (ENZ). The company added that the order will allow it to request a further ruling declaring that Switzerland's Roche does not infringe on the patent.
  • Sara Lee (SLE) said its board has approved the capital structure for the planned tax-free spinoff of its apparel business into a separate, publicly traded company called Hanesbrands Inc. Sara Lee will receive a spinoff-related one-time payment of $2.4 billion.
  • Sirius (SIRI) said that some of its satellite radio units with FM transmitters don't comply with FCC rules. The company said it has taken steps to correct the issue.
  • Skyworks Solutions (SWKS) said third-quarter cost-of-goods-sold rose as net income fell to $3.01 million, or 2 cents a share, from $7.39 million, or 5 cents a share, during the same period in the prior year.
  • Spansion (SPSN) said it narrowed its loss from a year earlier, aided by higher sales of its flash memory chips used in consumer electronics.
  • Tempur-Pedic International (TPX) reported second-quarter net earnings of $26.1 million, or 30 cents a share, compared with $24.9 million, or 24 cents a share, last year.
  • NBC and Toyota (TM) have struck an advertising deal that calls for the network's shows to meet not only ratings guarantees but also measures of audience attentiveness.
  • VeriSign (VRSN) reported second-quarter net earnings of $349.9 million, or $1.42 a share, up from $41.3 million, or 15 cents a share, in the year-ago period.
  • Wachovia (WB) and BB&T posted strong profit gains, but the interest-rate squeeze pushed net lower at Fifth Third and Comerica.


Market Update:

  • Asian trading closed with the Hang Seng -0.05%, Nikkei -0.84%, Taiwan -0.37%, Sensex -2.58%, Jakarta -0.08% and the Shanghai +0.62%.
  • A quick look across the pond finds the CAC -0.47%, DAX -0.76%, FTSE -0.33%, Stockholm -0.36% and ATX -1.31%.
  • Crude oil is trading +0.40 to 74.67 while gold is -3.5 to 629.00. For their part, stateside futes are above fair value.
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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE