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Stocks to Watch: American Eagle, Johnson & Johnson, Goldman Sachs, News Corp., Toll Brothers


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


Stocks to watch for Thursday, August 9, 2007:

  • Advance Auto Parts (AAP) reported second-quarter net earnings of $68.4 million, or 64 cents a share, up 9% from $62.9 million, or 59 cents a share, during the year-ago period. The retailer of automotive aftermarket parts and accessories said revenue rose to $1.17 billion from $1.11 billion.
  • American Eagle Outfitters (AEO) reported that July sales at stores open at least a year decreased 6%, while total sales for the four-week period were up were up 19% to $233.9 million. The average estimate of analysts polled by Thomson Financial had been for American Eagle to post a same-store-sales increase of 2.9%.
  • American International Group (AIG) reported a 34% jump in second-quarter net income as the company's property and casualty and domestic life insurance businesses helped results top analyst expectations.
  • Campbell Soup (CPB), owner of the famous Godiva Chocolatier brand, is putting the company on the auction block, according to people familiar with the matter, as it focuses on its soup and baked-snacks businesses.
  • Rumors that Goldman Sachs (GS) was set to issue bad news proved unfounded, but recent volatility has taken a toll on the firm's so-called quant-hedge funds, whose trading is dictated by computer programs, reports the Wall Street Journal.
  • Johnson & Johnson (JNJ) filed suit against the American Red Cross and some of its licensing partners claiming misuse of the cross design that is its signature emblem, which also appears on J&J's first-aid kits and bandages. The health-care products company alleges that the Red Cross licensed the eponymous design to for-profit companies that sell medical products -- such as first-aid kits and hand sanitizers -- and infringed J&J's trademark.
  • McDonald's (MCD) is joining forces with the IOC and a government-run Chinese TV network to produce a reality show-style competition that will award 300 children the chance to attend the Olympics.
  • After Wednesday's closing bell, Rupert Murdoch's News Corp. (NWS) reported a higher profit in its fourth fiscal quarter, led by higher revenue and income at its cable networks, but the subject of the day was the media giant's buyout of Wall Street Journal publisher Dow Jones (DJ).
  • Toll Brothers (TOL), a builder of luxury homes, said its home-building revenue fell 21% in the fiscal third quarter ended July 31, as cancellations rose from the previous quarter and buyer traffic in some of its communities fell to the lowest levels the company has seen.

Market Update

  • Asian trading closed with the Hang Seng -0.43%, Nikkei +0.83%, Sensex -1.36%, Taiwan +0.91% and Shanghai +1.95%.
  • A quick check across the pond finds European bourses bleeding red with the CAC -1.86%, DAX -1.72%, FTSE -1.47%, ATX -1.11%, Swiss Mkt. -1.25% and Stockholm -1.89%.
  • Crude oil is trading lower -0.45 to 71.70 and gold is also down -7.4 to 678.9 this morning.
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