Stocks to Watch: Apple, GE, Intel, Southwest, Time Warner, Wachovia
Getting better all the time....
Stocks to Watch for July 6th
- Apple Computer Inc. (AAPL) late Wednesday said it faces two derivative lawsuits over stock option grants it made to executives.
- General Electric (GE) is expanding its "road to credit" program, which offers private-label cards to customers who don't normally qualify for credit, hoping to reach into the ranks of the "underbanked."
- Intel (INTC) is investing $600 million in Clearwire, part of a $900 million sum that could help spur adoption of WiMAX wireless technology.
- Microsoft (MSFT) will offer free software that will let Word, Excel and PowerPoint handle documents in a rival technology format promoted by Sun Microsystems (SUNW), IBM (IBM) and others.
- Peabody Energy (BTU) agreed to acquire Australia's Excel Coal for $1.34 billion. Peabody is the world's largest private-sector coal company.
- Quest (QSFT) said it will restate over five years of financial statements after a probe found many stock-option grants were wrongly dated.
- Southwest Airlines (LUV) posted one of its largest fare increases ever, prompted by high fuel prices.
- Time Warner's (TWX) AOL is considering offering its services free to users with high-speed Internet connections, gambling that ad revenue will offset the loss of subscription fees.
- Wachovia (WB) agreed to pay $25 million to settle allegations from state regulators that its stock analysts issued biased research to help win investment-banking business
- WPS Resources (WPS) of Wisconsin is in advanced talks to purchase Chicago gas utility Peoples Energy in a deal valued at about $1.5 billion.
- Asian trading closed dazed and confused with the Hang Seng +1.07%, Nikkei -1.30%, Shanghai +1.33%, Sensex -1.39% and Taiwan a fraction below the flatline.
- A quick look at the European bourses finds greener pastures with the CAC +0.55%, DAX +0.76%, FTSE +0.85%, ATX +0.56%, Swiss Mkt +0.73% and Stockholm _0.36%.
- Crude oil is trading -0.24 to 74.97 while gold is -4.4 to 625.3 this morning. For their part, stateside futes are above fair value.
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