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Stocks to Watch: Apple, BP PLC, Lockheed Martin, Microsoft, Texas Instruments


Tuesday's top stories and stocks with potential to move...


Stocks to watch for Tuesday, October 23, 2007:

  • American Express (AXP) said third-quarter profit rose to $1.07 billion, or 90 cents a share, from $967 million, or 79 cents a share, in the year ago period. AXP reported total revenue of $7.95 billion, up from $6.99 billion last year. Revenue net of interest expense grew to $6.95 billion from $6.27 billion a year ago.
  • Apollo Group's (APOL) fourth-quarter net income rose 36% to $103.2 million, or 60 cents a share, from $75.7 million, or 43 cents a share, a year earlier. Excluding share-based compensation and other items, earnings were 67 cents a share. Apollo's board also authorized a share repurchase of up to an additional $500 million. Apollo also says it is teaming with Carlyle Group to invest $1 bln in the international education service sector.
  • Apple (AAPL) reported 4Q profit of $904 mln or $1.01 a share, on rev. of $6.22 bln compared to the year ago period when the company earned $542 million, or 62 cents a share, on $4.84 billion in sales.
  • BP PLC (BP) said its 3Q net income fell 29% from a year earlier. Net profit for the three months ended Sept. 30 stood at $4.41 billion, or 23.1 cents a share, compared with $6.23 billion, or 31.4 cents a share, for the same period last year. The company cited lower margins and outages in refining and production as factors that offset rising crude prices.
  • Gilead Science's (GILD) board has authorized a repurchase program of up to $3 bln of its common stock through December 2010.
  • Lockheed Martin (LMT) is expected to report 3Q earnings of $1.64 a share, according to analysts polled by Thomson Financial.
  • Microsoft (MSFT) said it will not appeal last month's judgement by the European Commission in its antitrust case and will agree to "substantial changes".
  • Netflix (NFLX) said third quarter profit jumped nearly 23% helped by subscriber growth. NFLX earned $15.7 million, or 23 cents a share, on the period, up from $12.8 million, or 18 cents, in the year-ago quarter. Its user base jumped about 24% this quarter to about 7 mln.
  • Target (TGT) cut its forecast for October sales growth at stores open at least a year to a range of 2-4%, down from 3-5%. The company noted "greater than normal daily volatility and continued disappointing sales results for the first two weeks."
  • Texas Instruments' (TXN) profits rose 11% in the quarter ended Sept. 30. TXN reported third quarter income of $776 million on revenue of $3.66 billion, compared to profit of $702 million on revenue of $3.8 billion in the same quarter last year.

Market Update

  • Asian trading closed with the Hang Seng +3.54%, Nikkei +0.07%, Sensex +4.99%, Taiwan +1.51% and Shanghai +1.87%.
  • A look towards Europe finds the CAC +1.11%, DAX +0.97%, FTSE +1.42%, ATX +1.18%, Swiss Mkt. +1.10% and Stockholm +2.20%.
  • Crude oil is trading higher +0.63 to 86.65 and gold is also up +3.4 to 763.4 this morning.
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No positions in stocks mentioned.

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