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.
- 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.
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