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Stocks to Watch: Daimlerchrysler, Dynegy, Ford, Freescale Semiconductor, Wal-Mart

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Hit me stride, Eli Style

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Stocks to watch for Monday, September 18

  • Bank of America (BAC) will expand in Asia and Europe mainly via credit cards and corporate banking, its CEO said.
  • BEA Systems (BEAS) said it has received a Nasdaq non-compliance notice over the company's delayed Form 10-Q filing for the second-quarter ended July 31.
  • Cigna (CI) said it has increased its stock buyback program by $500 million. The Philadelphia-based healthcare company's total share repurchase authorization now totals $722 million.
  • Citigroup (C) expects to raise its stake in Shanghai Pudong Development Bank in coming months, as it waits for a decision in a battle for control of China's Guangdong Development Bank.
  • Daimlerchrysler's (DCX) disclosure that it will lose $1.5 billion in the third quarter may mean the end of "Dr. Z," Chief Executive Dieter Zetsche's advertising alter ego.
  • Dynegy (DYN) agreed to buy LS Power for about $2.4 billion plus debt assumption of some $1.8 billion, nearly doubling Dynegy's size.
  • Everest Re Group (RE) said Chief Financial Officer Stephen Limauro plans to retire at the end of the year.
  • Ford (F) plans to end its fourth-quarter dividend and cut about 14,000 salaried jobs, up from 4,000. Ford's bonds fell on the news. DaimlerChrysler said Chrysler is on track to lose about $1.5 billion this quarter, more than double prior forecasts.
  • Franklin Electric (FELE) said it has acquired Healy Systems Inc. in a stock purchase transaction. The purchase price was $35 million, plus a percentage of Healy's product sales over the next five years.
  • Freescale Semiconductor (FSL) agreed to sell itself to a Blackstone-led private-equity group for $17.6 billion, or $40 a share.
  • GMH Communities Trust (GCT) said it swung to a second-quarter net loss as the company recorded charges relating to the audit committee's investigation. The housing provider said the quarterly net loss was $541,000, or a penny a share. During the same period in the prior year, net income was $826,000, or 3 cents a share.
  • HealthSpring (HS) said it has filed a registration statement with the Securities and Exchange Commission covering the public offering by certain stockholders of up to 9 million shares of common stock.
  • Hewlett-Packard's (HPQ) leak investigation appears to have continued after the source of leaked information on its board was identified.
  • Kayne Anderson MLP Investment (KYN) said it is increasing the quarterly cash dividend 2.3% to 45 cents per share. The dividend is payable Oct. 13 to shareholders as of Oct. 4.
  • Novelis (NVL) reported a first-quarter net loss of $74 million, or $1 a share. In the same quarter last year, the Atlanta-based aluminum company reported net earnings of $22 million, or 30 cents a share.
  • SigmaTel (SGTL) said the U.S. International Trade Commission has issued orders finding that system-on-chip controllers for portable digital music players manufactured by Actions Semiconductor Co. infringe two of SigmaTel's patents.
  • Wireless-equipment-maker Symbol Technologies (SBL) is set to conclude an auction to sell itself, which could result in a sale of the $3.2 billion company, The Wall Street Journal reported on Saturday. The newspaper, citing unidentified people close to the process, said Motorola (MOT) is in the best position to acquire the firm, but that other bidders could surface as the process winds down.
  • TRM (TRMM) named President and Chief Executive Jeffrey Brotman to its board, effective Sept. 18.
  • Wal-Mart (WMT) Stores will launch its first credit card in China in conjunction with China's Bank of Communications.
  • Warner Music (WMG) has agreed to make its library of music videos available to YouTube, marking the first time that an established record company has agreed to make its content library available to the user-generated media company.
  • Williams (WMB) said its board has revised its bylaws to adopt a majority vote standard, replacing plurality voting for uncontested director elections.


Market Update

  • Asian trading closed with the Hang Seng +0.87%, Sensex +0.51%, Shanghai +0.69% and Taiwan +3.01%.
  • A check of the European bourses finds the CAC +0.24%, DAX +0.04%, FTSE +0.57% and Swiss Market +0.52%.
  • Crude oil is trading +0.42 to 63.75 while gold is +4.8 to 587.8. For their part, stateside futes are above fair value.
No positions in stocks mentioned.

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