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Stocks to Watch: Altria, Costco, Electronic Arts, Goldcorp, TiVo


Keep on truckin'


Stocks to watch for Thursday, August 31

  • Affymetrix (AFFX) said it has completed and filed restatement of its financial results, with the adjustments increasing per-share net earnings by 12 cents for the year ended Dec. 31, 2005, and reducing per-share net earnings by 3 cents for the year ended Dec. 31, 2003.
  • Alpharma (ALO) said that Chief Financial Officer Matthew Farrell has resigned, effective mid-September. The Fort Lee, N.J.-based specialty pharmaceutical company said Jeffrey Campbell will be interim CFO.
  • Altria's (MO) board raised its quarterly stock dividend by 7.5%, but didn't make any announcement about plans to spin off Kraft Foods (KFT).
  • American Eagle Outfitters' (AEOS) total sales for the month ended Aug. 26 rose 16% to $276.6 million as same-store sales rose 11%.
  • Brown-Forman (BFB) said it is exploring strategic alternatives for its Hartmann unit, including a possible sale. Hartmann is the only remaining business in continuing operations that is outside Brown-Forman's core beverage portfolio.
  • Citi Trends (CTRN) August comparable-store sales rose 13.7%, compared with a 20.3% increase in the same period last year. The apparel retailer said total net sales increased 31.5% to $32.6 million from $24.8 million last year.
  • Coca-Cola (KO) named J. Alexander Douglas Jr. president of Coca-Cola North America. Douglas replaces Donald Knauss, who has been named chairman and chief executive of Clorox (CLX).
  • Wholesale-club operator Costco (COST) said it expects fiscal-fourth-quarter profit to miss Wall Street's forecasts, citing markdowns on bit-ticket items and lower margins.
  • Delta Air Lines (DALRQ) swung to a $69 million profit in July, thanks to higher passenger revenue and lower operating costs, the bankrupt carrier said late Wednesday. .
  • Electronic Arts (ERTS) joined an emerging effort to transform games into a medium for marketers, reaching agreements to distribute ads over the Internet into the titles of the world's largest games publisher
  • Ethan Allen Interiors (ETH) chairman and chief executive Farooq Kathwari said sales have further slowed in August. In a statement, Kathwari said lower consumer confidence and the company's initiative to reduce lead time in filling customer orders has impacted the company's first quarter results.
  • Goldcorp (GG) has agreed to offer $8.6 bln of its stock from Glamis (GLG). The deal values Glamis, using Wednesday's closing price, at $51.49 a share, a 33% premium to its closing price. GG said the deal, in which it would get 60% of the combined company, would result in a miner with proven and probable reserves of 41.1 million gold ounces.
  • Hot Topic (HOTT) August sales at stores open at least one year fell 6%. Net sales for the four weeks ended Aug. 26 rose 3% to $72.9 million. The company also said it has named Chris Daniel as chief merchandising officer for its Torrid brand.
  • JDS Uniphase (JDSU) said it narrowed its fiscal fourth-quarter loss to $45.8 million, or 3 cents a share, from a loss of $145.7 million, or 10 cents, a year ago. Excluding onetime items, JDSU said it would have broken even on a per-share basis.
  • MIPS Technologies (MIPS) said its board has formed a special committee of independent directors to review option-grant practices and accounting. The provider of processor architectures and cores added that it may miss the Sept. 13 deadline for filing its fiscal 2006 10-K.
  • LTX (LTXX) swung to a quarterly net profit of $13.9 million, or 22 cents a share, as the company's gross margin improved and sales rose. In the same period last year, the company posted a net loss of $6.21 million, or 10 cents a share.
  • MTS Systems (MTSC) board increased the quarterly cash dividend by 10% to 11 cents a share. The dividend is payable Oct. 2 to shareholders as of Sept. 14.
  • Schnitzer Steel Industries (SCHN) said it has filed its fiscal third-quarter Form 10-Q and has been notified by Nasdaq that the company is now in compliance with the exchange's requirements for continued listing.
  • SeaChange International (SEAC) said it swung to a second-quarter net gain of $643,000, or 2 cents a share. During the same period in the prior year, the company reported a net loss of $6.56 million, or 23 cents a share. Quarterly revenue was $45.4 million, compared with $26.2 million in the prior year.
  • SWS Group (SWS) said fourth-quarter net income rose to $5.45 million, or 30 cents a share, compared with $5.31 million, or 30 cents a share from the same period in the prior year, as revenue gained.
  • TiVo (TIVO) said it lost $6.4 million, or 7 cents a share, in the second quarter, compared with a loss of $900,000 or 1 cent a share in the prior year, due to stock compensation expense, hardware costs and expenses related to its lawsuit against EchoStar Communications (DISH).
  • US Airways Group (LCC) said it has added seven new Airbus A321s to an existing order for 30 Airbus A320 family aircraft. The amendment converts existing orders for one A320 aircraft and seven A319 aircraft to an order for eight A321 aircraft.
  • Zumiez (ZUMZ) same-store sales rose 4.7% in August vs. a comparable increase of 9.4% a year ago. The specialty retailer said total sales increased 36.4% for the four-week period ended Aug. 26, to $33.7 million, compared with $24.7 million last year.

Market Update

  • Asian trading closed with the Hang Seng +0.62%, Nikkei +1.69%, Sensex -0.21%, Shanghai +0.21 and Taiwan +0.37%.
  • A check of the European bourses finds the CAC -0.27%, DAX -0.19%, FTSE -0.15% and Swiss Market -0.30%.
  • Crude oil is trading +0.77 to 70.80 while gold is +5.00 to 631.1 this morning.
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