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Stocks to Watch: Adobe Systems, Apple, Ely Lilly


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


Stocks to watch for Tuesday, December 18, 2007:

  • Adobe Systems (ADBE) reported 4Q net income of $222.2 mln, or 38 cents a share, up from $183.2 mln, or 30 cents a share a year ago. Revenue at the company rose 34% to $911.2 million. Additionally, ADBE's board has approved a 30 mln share increase to the company's stock repurchase program.
  • Apple (AAPL) is planning to enter into the Japanese mobile phone market with its iPhone. CEO Steve Jobs has met with NTT DoCoMo president Masao Nakamura to discuss a possible deal. NTT DoCoMo is Japan's dominant mobile operator. Jobs has also sat with Japan's number 3 operator Softbank.
  • Ely Lilly (LLY) said it expects a charge of 5 cents a share relating to an agreement to purchase the rights to a multiple sclerosis treatment from BioMS Medical Corp. Also, the company forecast 2008 net income of between $3.80 to $3.95 per share.
  • Medtronic (MDT) has agreed to buy a 15% stake in Shandong Weigao Group Medical Polymer, a Chinese medical device maker, for $221 mln, or 1.73 Hong Kong dollars. MDT will purchase 80.7 mln shares at HK$11.14 apiece. According to the WSJ, Medtronic and Weigao will form a partnership, in which Medtronic will have a 51% stake, with Weigao owning the remainder.
  • Pfizer (PFE) said it has increased its quarterly dividend by 10%, or 3 cents a share. The new dividend of 32 cents a share will be paid March 4 to shareholders of record as of Feb. 8.
  • Quicksilver Resources (KWK) said its board has approved its 2008 capital budget. According to MarketWatch, the budget includes about $650 million for drilling, $160 million for gathering and processing facilities, $70 million for leasehold and $5 million for other property and equipment.
  • Washington Mutual's (WM) Fay Chapman, senior executive vice president, plans to retire as the company's chief legal officer. Chapman will continue to serve as a consultant and assist with the transition for two years.

Market Recap

  • Asian trading closed withe the Hang Seng +0.51%, Nikkei -0.27%, Sensex -0.94%, Taiwan -0.30% and Shanghai -0.83%.
  • A quick check of Europe finds the CAC +0.67%, DAX +1.05%, FTSE +0.63%, ATX +1.26%, Swiss Mkt. -0.08% and Stockholm +0.56%.
  • Crude oil is trading higher +0.95 to 92.00 and gold is also lifting +3.3 to 802.6 this morning.
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No positions in stocks mentioned.

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