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Stocks to Watch: Hewlett-Packard, Royal Dutch Shell, Sony, Wal-Mart


Hit me in full stride.


Stocks to watch for Monday, September 25

  • Adept Technology (ADEP) said it has discovered accounting errors, primarily involving consolidation of international subsidiaries, and the company reported preliminary fourth-quarter revenue, but not net income. Adept said preliminary quarterly revenue rose to $14.9 million from $14.4 million during the same period in the prior year.
  • Aquila (ILA) said it has agreed to buy a 580-megawatt, natural gas-fired power plant in Pleasant Hill, Mo., from bankrupt energy company Calpine (CPNLQ) for $158.5 million.
  • Arbitron (ARB) said Lawrence Perlman plans to retire as non-executive chairman in the spring of 2007.
  • Canadian Pacific Railway (CP) said a labor agreement has been ratified by it its clerical and intermodal workers represented by the United Steelworkers. The 3-year agreement extends to the end of 2009, the company said.
  • Covanta Holding (CVA) said its board has called a special shareholder meeting to vote on proposed amendments to the company's charter to remove two provisions that may restrict Covanta's ability to access the capital markets.
  • FileNet (FILE) said the Hart-Scott-Rodino Act waiting period over IBM's (IBM) proposed acquisition of FileNet has terminated. Costa Mesa, Calif.-based FileNet said its shareholders will vote of the $1.6 billion deal Oct. 3.
  • GenTek (GETI) said it's in discussions to sell its Noma wire and cable assembly business to Electrical Components International Holdings Co. of St. Louis. Financial details of the potential transaction were not disclosed.
  • Gilead Sciences (GLD) said it has signed eight new non-exclusive license agreements with generic companies in India. The agreements grant the rights to produce and distribute generic versions of its anti-HIV drug Viread to 95 low-income countries around the world, including India.
  • Harris (HRS) raised its pro forma earnings outlook to $2.65 to $2.75 a share for the fiscal year ending June 29, 2007, up from a previous range of $2.60 to $2.70 a share, to reflect a lower tax rate.
  • Hewlett-Packard's (HPQ) effort to contain controversy over a leak investigation could be hurt if former Chairman Dunn doesn't back the company's version of events
  • Microsemi (MSCC) said it now sees fourth-quarter earnings, excluding one-time charges, of 25 cents to 27 cent per share, compared with its prior view of 29 cents to 31 cents.
  • Royal Dutch Shell (RDS-B) is exploring legal options that could help overcome the cancellation of an environmental permit for a $20 billion project in Russia.
  • Sony (SNE) is looking into what role, if any, one of its batteries may have had in a Lenovo laptop fire last weekend, according to a company spokesman quoted in press reports. More than 5.9 million laptops made by other companies have been recalled because of overheating problems.
  • Volvo (VOLV) plans to pay $69 million to raise its stake in Japanese truck maker Nissan Diesel to 19%, saying the deal will help balance the Swedish company's offerings of heavy trucks and give it broader reach in Asia.
  • Wal-Mart (WMT) plans to cut packaging by 5% under a new environmental commitment announced at the Clinton initiative conference.

Market Update

  • Asian trading closed with the Hang Seng -0.31%, Sensex -0.51%, Nikkei -0.01%, hanghai -0.17% and Taiwan +0.37%.
  • A check of the European bourses finds the CAC +0.55%, DAX +0.63%, FTSE +0.10% and Swiss Market +0.12%.
  • Crude oil is trading -0.82 to 59.73 while gold is -2.4 to 593.0. For their part, stateside futes are above fair value.
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No positions in stocks mentioned.

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