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Stocks to Watch: Boston Scientific, Chipotle, Mittal, Teck, Whole Foods

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Stocks to watch for Tuesday, August 1

  • Affymetrix (AFFX) reported lower revenues and said it swung to a loss in the second quarter, hurt by a spike in costs.
  • ATS Medical (ATSI) said its Open Pivot AP360 Mechanical Heart Valve has received approval for marketing and use in Europe.
  • Boston Scientific (BSX) and St. Jude Medical have agreed to settle four patent disputes, and said they also reached an accord to limit legal parameters for two other disputes.
  • Brooks Automation (BRKS) said it has revised its financial statements for the fiscal 1996 through 2005 due to matters related to stock-option grants. The provider of hardware and software to chip manufacturers said it has recorded cumulative additional non-cash, pretax stock-based compensation expenses of $64.5 million.
  • Cedar Fair (FUN) reported second-quarter net earnings of $11 million, or 20 cents a share, compared with $12.3 million, or 22 cents a share, in the same period last year.
  • Chipotle Mexican Grill (CMG) reported a 58% drop in net second quarter profit on Monday because of the lack of a one-time tax benefit -- but the restaurant chain reported sharply higher same-store sales and total revenue.
  • EOG Resources (EOG) said second-quarter income available to shareholders reached $329.6 million, or $1.34 a share, from $247.6 million, or $1.02 a share, during the same period in the prior year.
  • Fidelity's No. 2 executive is on the shortlist of candidates to become NFL commissioner.
  • Ford Motor (F) has ended its "Drive On Us" national incentive campaign and is shifting to offer regional promotions in an effort to clear 2006-model-year inventory.
  • HealthSpring (HS) said second-quarter net profit rose to $21.1 million from $7.88 million in the prior year. Income available to shareholders rose to $21.1 million, or 37 cents a share, from $3.36 million, or 10 a share, in the prior year.
  • Ikanos Communications (IKAN) forecast third-quarter revenue ranging from $40 million to $43 million and said its expenses would rise. Ikanos pegged its gross margin, excluding the effect of one-time items, at 45% to 47%.
  • Kindred Healthcare (KND) reported second-quarter earnings of $29.7 million, or 69 cents a share, compared with $66 million, or $1.43 a share, in the same period last year.
  • Mittal's (MT) deal for Arcelor could cost as much as $6.38 billion more due to a challenge by minority investors in Arcelor's Brazil unit.
  • Navarre (NAVR) said first-quarter net income fell to $634,000, or 2 cents a share, from $1.91 million, or 6 cents a share, during the same period in the prior year.
  • Photronics (PLAB) said it now sees lower third-quarter results due to a shortfall in flat panel display mask orders and shipments. The Connecticut-based company lowered its revenue view to a range of $106 million to $107 million from its prior range of $119 million to $124 million.
  • RenaissanceRe Holdings (RNR) reported a 23% drop in second-quarter net income and unveiled a proposed $15 million agreement with the Securities and Exchange Commission to settle a probe by the agency into a recent restatement by the Bermuda-based reinsurer.
  • R.H. Donnelley (RHD) said it expects 2006 earnings before interest, taxes, depreciation and amortization -- or EBITDA -- to reach $1.46 billion for fiscal 2006. The company also said it foresees total revenue to reach $2.68 billion for the year. Also, the company swung to a second-quarter loss in the wake of transactions involving Dex Media and AT&T (T).
  • Simon Property Group (SPG) after the closing bell Monday said second-quarter net per-share profit fell from the year-ago period, which included a 40-cent-per-share gain on the sale of two office building complexes.
  • Teck (TCK) raised its bid for Inco (N) to value the mining firm at $16.63 billion, as it seeks to lure shareholders from Phelps Dodge's (PD) rival offer.
  • Time Warner (TWX) and Comcast (CMCSA) said they have completed the acquisition of most of Adelphia Communications (ADELQ) assets for $12.5 billion cash and a 16% stake in Time Warner Cable.
  • Vulcan Materials (VMC) said quarterly net profit rose to $147.7 million, or $1.45 a share, from $121.5 million, or $1.17 a share, during the same period in the prior year.
  • Whole Foods Markets (WFMI) said third-quarter net income surged nearly 34%, as organic food became more mainstream, but overall sales missed Wall Street estimates.


Market Update:

  • Asian trading closed with the Hang Seng -0.35%, Nikkei -0.10%, Shanghai -0.75%, Taiwan -0.20%, Jakarta +1.48% and Sensex +0.16%.
  • A quick look across the pond finds the CAC -0.20%, DAX -0.20%, FTSE +0.12%, Swiss mkt -0.06%.
  • Crude oil is trading +0.28 to 74.68 while gold is -0.4 to 646.4.
No positions in stocks mentioned.

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