Stocks to Watch: AmerisourceBergen, BP, Google, Wal-Mart
Trekking to the mountains
Stocks to watch for Monday, August 7
- AmerisourceBergen (ABC) signed a deal with Kindred to combine their institutional pharmacy units into a company with a market cap of $1 billion to $1.5 billion
- Bisys Group (BSG) said it has filed its fiscal 2006 second-quarter 10-Q for the period ended Dec. 31, 2005. The company posted net earnings of $22.3 million, compared with $25.1 million in the same period last year.
- BP will shut down its Prudhoe Bay oil field in Alaska after discovering a corroded pipeline, taking crude off the market amid tight supply and rising demand.
- Gamco Investors (GBL) said second-quarter net income was $8.9 million, or 31 cents per share, compared with $12.9 million, or 42 cents per share, in the same period last year. Quarterly revenue was $62.8 million, compared with $59.6 million in the prior year.
- Garmin (GRMN) said it has approved a buyback program of up to 1.5 million shares. The Cayman Islands-based manufacturer of GPS technology devices said the program expires Dec. 31, 2007.
- Google (GOOG) will distribute video programming from MTV Networks to hundreds of Web sites, in a deal that could change networks' approach to the online market
- HealthSouth (HLSH) said it has agreed to sell Cedar Court Rehabilitation Hospital in Melbourne, Australia, and related assets, to Epworth Foundation and ING Management Limited. Cedar Court was the last of HealthSouth's international facilities. Financial terms were not disclosed.
- InfoUSA (IUSA) said it has entered into a definitive agreement to acquire Opinion Research Corp. for $134.3 million, including the assumption of debt. The deal values Opinion Research's stock at $12 a share.
- Kronos Worldwide (KRO) reported second-quarter net earnings of $3.6 million, or 28 cents a share, compared with $32.9 million, or 67 cents a share, in the same period last year, as the company's gross margin dropped.
- Mpower Holding (MPE), the parent company of Mpower Communications Corp., said the $1.92-a-share acquisition of the company by TelePacific Holdings Corp. has been completed. The total value of the deal is $204 million.
- Pepco Holdings (POM) reported second-quarter net earnings of $51.2 million, or 27 cents, compared with $66.4 million, or 35 cents, in the same period last year. Quarterly revenue was up 6.7% to $1.92 billion vs. $1.72 billion.
- Royal Group Technologies (RYG) said shareholders have approved the company's C$1.7 billion ($1.54 billion) acquisition by Georgia Gulf (GGC). Closing is expected in September.
- Scottish Re Group (SCT) said it has named Chief Executive Paul Goldean to the board, effective immediately.
- Toyota Motor North America, a subsidiary of Toyota Motor (TM), said it has reached an agreement to settle litigation involving claims of sexual harassment. Terms were not disclosed.
- Wal-Mart (WMT) workers voted to form a union at a second company store in China, the Xinhua news agency reported.
- Winn-Dixie (WNDXQ) said the U.S. Bankruptcy Court for the Middle District of Florida has approved the disclosure statement filed in connection with the company's proposed plan of reorganization. The supermarket chain, which filed for bankruptcy protection in February 2005, said the court also authorized the company to begin soliciting approval from its creditors for the reorganization plan.
- Xerox (XRX) plans to use part of an unexpected tax benefit of more than $400 million to lay off workers, as it has done in the past.
- Asian trading closed with the Hang Seng +0.39%, Nikkei -2.23%, Shanghai -1.45%, Taiwan -0.40%, Jakarta -1.02% and Sensex -0.50%.
- A quick look across the pond finds the CAC -1.44%, DAX -1.57%, FTSE -0.90%, Swiss mkt -1.00%.
- Crude oil is trading +1.40 to 76.21 while gold is +3.0 to 659.0.
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