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Stocks to Watch: BP, Dell, Citigroup, GE, Mirosoft, Wal-Mart

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It's a slow ride, take it easy

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Stocks to watch for Tuesday, August 15

  • Agilent Technologies (A) reported a third-quarter net profit of $227 million, or 54 cents a share, compared to earnings of $104 million, or 20 cents a share, a year ago. Revenue rose to $1.45 billion from $1.24 billion in the year-ago quarter.
  • American Italian Pasta (PLB) after Monday's closing bell reported third-quarter revenue of $92.7 million, compared with $90.2 million in the same period last year. The Kansas City, Mo.-based dry pasta maker also said Chief Financial Officer George Shadid will leave the company effective Sept. 1.
  • BP is considering alternative pipeline routes that might allow Alaskan production to resume by October, which would further reassure markets.
  • Dell (DELL) said it will recall more than 4 million notebook computer batteries that can overheat and may pose a fire hazard. The batteries were made for Dell by a unit of Sony Corp., and were used in Dell notebooks sold between April 2004 and July 2006.
  • Management-software company CA Inc.(CA) said its fiscal first-quarter net profit plunged 64% to $35 million, or 6 cents a share, as its expenses rose and revenue bumped higher by 3%. The company said it plans to continue efforts to reduce its costs, cutting about 1,700 jobs, including 300 positions associated with joint ventures.
  • Cardiome Pharma (CRME) (COM) reported a second-quarter net loss of C$14.7 million ($13.1 million), or 28 Canadian cents a share, compared with a net loss of C$7.66 million, or 15 Canadian cents a share, during the year-ago period.
  • China TechFaith Wireless Communication Technology (CNTF) reported second-quarter net earnings of $3.84 million, or a penny a share, compared with $11.3 million, or 2 cents a share, during the year-ago period.
  • Citigroup (C) plans to open about 19 more bank branches in New Jersey by the end of the year, as it expands its U.S. retail network.
  • Connetics (CNCT) reported a second-quarter net loss of $2.16 million, or 6 cents a share. During the same period a year ago, the Palo Alto, Calif.-based pharmaceutical company posted net earnings of $2.6 million, or 7 cents a share.
  • Design Within Reach (DWRI) reported a second-quarter net loss of $800,000, or 6 cents a share. During the same period a year ago, the San Francisco-based furniture company posted net earnings of $1.4 million, or 9 cents a share.
  • Emergent Biosolutions filed with the Securities and Exchange Commission to raise up to $86.3 million in an initial public offering.
  • Fluor (FLR) said it has been awarded a 1-year, $200 million global contingency construction-multiple award contract from the Navy. The indefinite delivery/indefinite quantity contract offers four additional 1-year option periods, which could potentially make the contract worth up to $1 billion.
  • GenuTec Business Solutions filed with the Securities and Exchange Commission to raise up to $25 million in an initial public offering.
  • Gilead Sciences (GILD) said it has signed non-exclusive license agreements to provide generic versions of its anti-HIV drug Viread to three generic manufacturers in India. Financial terms weren't disclosed.
  • Imperial Industries (IPII) reported a second-quarter net profit of $1.12 million, or 43 cents a share, compared with $1.01 million, or 40 cents a share, in the year-ago period.
  • Home Solutions of America (HSOA) reported second-quarter net earnings of $4.47 million, or 11 cents a share, compared with $1.07 million, or 4 cents a share, during the year-ago period.
  • Jo-Ann Stores (JAS) lost $21.2 million, or 90 cents a share, in its fiscal second quarter, wider than the $5.1 million, or 23 cents a share, it lost in the year-ago period. Sales at the craft and fabric retailer fell to $363.2 million from $383.8 million on a same-store sales decline of 8.4%.
  • Kinder Morgan (KMI) has agreed to sell its retail natural gas operations in Colorado, Nebraska, Wyoming and Hermosillo, Mexico, to GE Energy Financial Services, a unit of General Electric (GE) for $710 million plus working capital.
  • KongZhong (KONG) reported second-quarter net earnings of $7.6 million, or 21 cents per American Depository Share, compared with $6.6 million, or 19 cents per ADS, in the same period last year.
  • Microsoft (MSFT) plans to introduce a test version of software that it says will dramatically simplify the creation of basic games for its Xbox 360 game console, saying it wants to turn ordinary players into console game makers.
  • Monster Worldwide (MNST) said it has received a Nasdaq notice stating that the company is not in compliance with the filing requirements for continued listing.
  • Mossimo (MOSS) said its second-quarter net earnings rose 22% to $2.71 million, or 17 cents a share, compared with $2.23 million, or 14 cents a share, in the same period last year, as sales rose and expenses fell.
  • Neoware (NWRE) said its fourth-quarter net earnings dropped 82% to $401,000, or 2 cents a share, compared with $2.22 million, or 14 cents a share, in the same period last year, as gross profit fell.
  • Redback Networks (RBAK) said a probe into the company's employee stock option grants found no evidence of intentional backdating or manipulation of option grant dates for grants awarded since January, 2004. However, the San Jose, Calif.-based maker of networking equipment said it found some grant-related "administrative or processing delays" that will result in a $200,000 pre-tax charge in the company's most-recent quarter.
  • Talbots (TLB) said it is closing its call center in Hingham, Mass., cutting 150 jobs. The closure is part of the retailer's restructuring process resulting from its acquisition of J. Jill Group Inc.
  • Target (TGT) said it still expects its August sales at stores open at least one year to rise between 2% and 4%, compared to a 6.3% rise in August same-store sales in the year-ago period.
  • Ternium S.A. (TX) said the European Commission determined that the tax treatment under Luxembourg's 1929 holding company regime, under which Ternium operates, should be changed or cancelled before year end. The steel products producer said it is confident that it will qualify for a transition period that would allow it to maintain its current tax regime until Dec. 1, 2010.
  • Valeant Pharmaceuticals International (VRX) said its chairman, Robert O'Leary, 62,died of cancer Monday. The Costa Mesa, Calif.-based company named Robert Ingram as its new chairman.
  • Wal-Mart's (WMT) net fell 26% after taking a loss on the sale of its German operation to Metro. Revenue at the retailer rose 11%.
  • Warnaco Group (WRNC) said its second-quarter net earnings dropped 45% to $3.42 million, or 7 cents a share, compared with $6.33 million, or 14 cents a share, in the same period last year.


Market Update:

  • Asian trading closed with the Hang Seng -0.09%, Nikkei -0.26%, Jakarta +0.64% and Shanghai +1.59%.
  • A quick look across the pond finds the CAC --0.04%, DAX -0.17% and FTSE -0.34%.
  • Gold is trading lower -3.3 to 636.0 and crude oil is -0.44 to 73.09.
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No positions in stocks mentioned.

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