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Stocks To Watch: AT&T, Caterpillar, Google, Marathon Oil, Yahoo!


Today's big stories and some stocks with potential to move...


Stocks to watch for Monday, April 30:

  • AT&T (T) CEO Edward Whitacre said he will retire in June and hand the reins of the telecom company to Randall Stephenson, the chief operating officer.
  • Caterpillar (CAT) late Friday disclosed the theft of computer equipment from a vendor containing personal identity data of current and former Caterpillar employees. The construction equipment maker said the stolen equipment was owned by a third-party pension benefits plan consultant. Caterpillar said it doesn't believe that the stolen data was the target of the theft, or that the information has been accessed or misused.
  • Chevron's (CVX) net rose 18%, helped by the sale of its Netherlands assets and favorable tax items, but lower oil and gas prices and output weighed down results.
  • Coca-Cola Bottling (COKE) reported first-quarter net earnings of $4.65 million, or 51 cents a share, up from $815,000, or 9 cents a share, in the year-ago period. The company said revenue in the quarter rose 1.3% to $337.6 million from $333.2 million. Separately, Coca-Cola Bottling named Henry Flint as vice chairman.
  • Collins & Aikman (CKCRQ) reported a March net loss of $740 million as part of its monthly operating report for U.S. debtor entities. The auto-parts maker recorded non-cash impairment charges of about $723 million, most of which is related to goodwill and included in the month's net loss. The company also recorded other non-cash charges of about $22 million related to settlements of certain accounts receivable balances, which are also included in the month's results.
  • CPI Corp. (CPY) said it has been notified by the New York Stock Exchange of some irregular trading in its shares. The St. Louis-based portrait photography company said it doesn't comment on unusual market activity as a matter of policy. CPI shares closed up more than 11% at $58.20 in regular-session trading.
  • Genesis HealthCare (GHCI) reported fiscal second-quarter net earnings of $5.36 million, or 26 cents a share, down 34% from $8.07 million, or 42 cents a share, in the year-ago period. Excluding certain items, the profit came in at 61 cents. The company said revenue in the three months ended March 31 rose 13.7% to $496.1 million from $436.3 million in the same period last year. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 60 cents on revenue of $477.4 million.
  • GlaxoSmithKline (GSK) said Food and Drug Administration has approved once-daily Veramyst nasal spray to treat seasonal and year-round allergy symptoms in adults and children two years of age and older. Veramyst will be available by prescription nationwide by late May, the company said. In addition to relieving nasal symptoms of allergies, Veramyst has demonstrated "consistent and significant improvement in relieving overall allergic eye symptoms," Glaxo said.
  • Google (GOOG) aims to become the largest Internet search engine in China, where it currently ranks second, by giving local management more authority.
  • Inspire Pharmaceuticals (ISPH) said that the Food and Drug Administration has approved AzaSite for the treatment of bacterial conjunctivitis. The biopharmaceutical company said it plans to launch AzaSite in the latter part of the third. The company also said it expects to generate $30 million to $45 million in sales in the 2008 calendar year based on current manufacturing and commercial plans.
  • Marathon Oil (MRO) is betting on diesel as it begins construction of a $3.2 billion addition to its Garyville, La., refinery.
  • Omnicare (OCR) shares closed down more than 15% after the provider of pharmaceuticals to nursing homes posted a first-quarter profit drop and cut its full-year 2007 profit forecast.
  • RadioShack's (RSH) net income rose sharply in the first quarter, helped by lower costs related to staff reductions.
  • UAL (UAUA) said it started distribution of 2.24 million shares to holders of allowed general unsecured claims against the company, as part of its reorganization plan. The Chicago parent company of United Airlines said the distribution follows an initial pro rata distribution of 86.2 million shares to claim holders in February 2006, and interim distributions since then. United employees will get 844,599 of the newly issued shares, bringing the total number of shares distributed to employees to 35.5 million, the company said. Overall, the company expects to distribute 115 million shares to settle all claims.
  • Yahoo (YHOO) plans to pay $680 million for the 80% of Right Media it doesn't own, highlighting how Internet companies are betting big on new approaches to extend its advertising reach on the Web.

Market Update

  • Asian trading closed with the Hang Seng -1.01%, Sensex -0.26%, Taiwan -0.93% and Shanghai +2.17%.
  • A quick look across the pond finds the CAC +0.50%, DAX +0.57%, FTSE -0.10%, ATX -1.12%, Swiss Mkt. +0.35% and Stockholm +0.62%.
  • Crude oil is -0.19 to 66.27 and gold is down -0.2 to 681.6 this morning.
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No positions in stocks mentioned.

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