Stocks to Watch: Boeing, ConocoPhillips, General Motors, Google, Sony
Life in the fast lane...
- Aetna (AET) on Thursday said second-quarter net income fell slightly as it faced competitive pressures in certain geographical markets.
- Bank of New York (BK) shuffled the responsibilities of its senior management as the U.S.'s oldest bank continues to refocus on its asset-management and private-banking businesses.
- Boeing (BA) swung to a $160 million loss as charges offset robust jet orders, and it signaled rising development costs for its 787 jet.
- Citigroup (C), hampered by an undersized bank-branch network, is looking to its much larger consumer-financing arm to compete more aggressively for deposits.
- ConocoPhillips's (COP) net surged 65% on high oil prices, big refining margins and the acquisition of natural-gas producer Burlington.
- EMI Group (EMI) plans to say that it is no longer pursuing a $4.6 billion proposal to buy Warner Music, the latest failure in efforts for a tie-up.
- Fannie Mae's (FNM) top regulator said that the mortgage giant had recently come forward with a new business plan, but he would offer no further details.
- General Motors (GM) reported a $3.2 billion loss that included $4.3 billion in charges, in part due to an employee-buyout program. But investors were cheered by the auto maker's cost-cutting efforts and a 12% jump in revenue.
- Google (GOOG) said it plans show AdWords advertisers how many times the Internet giant believes their ads were the subject of a click fraud.
- Intel (INTC) is taking the wraps off its Core 2 Duo chips, as a number of PC makers will show off machines based on the new chips. But ATI-based systems will not be prominently featured.
- Kimberly-Clark's (KMB) profit fell as rising costs for energy and raw materials and depreciation expenses offset a 4.3% increase in revenue.
- Microsoft (MSFT) said it would buy health-care software technology called Azyxxi, which gives physicians instant access to patient data from numerous sources.
- Phelps Dodge (PD) said its second-quarter net fell despite high commodity prices, due to a charge tied to hedges the company put in place to protect against volatility of metals prices.
- Sony (SNE) swung to a better-than-expected quarterly operating profit, propelled by robust sales of its Bravia brand LCD televisions and Cybershot digital cameras, in a sign that its recovery is on track.
- Starwood Hotels & Resorts Worldwide (HOT) on Thursday said its quarterly profit rose sharply as it sold hotels to switch to a model that relies more on management and franchise fees.
- Symantec's (SYMC) profit slid on higher expenses and acquisition-related charges, though revenue soared thanks to its purchase of Veritas. Shares rallied in late trading.
- WellPoint (WLP) said profit rose 34%, citing disciplined underwriting, checks on overhead and medical costs and effects of an acquisition.
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.
Daily Recap Newsletter