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Stocks to Watch: American Eagle, Boeing, Lam Research, Medtronic, Wal-Mart


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


Stocks to watch for Thursday, October 11, 2007:

  • Alcoa (AA) said its efforts to divest less profitable business lines may result in "severance and other exit costs" beyond the third-quarter charges it disclosed in its earnings release late Tuesday.
  • American Eagle Outfitters' (AEO) September same-store sales fell 2% because of lower store traffic. Analysts had expected the same-store sales to rise 1.2%. The company also reduced its earnings outlook range for the third quarter to 44 cents to 45 cents a share, compared with its previous 47 cents to 48 cents a share range.
  • Boeing (BA) said it will delay the delivery of its 787 Dreamliner jet by at least six months, to late November or early December of next year instead of May. Boeing shares fell 2.7%. The delay was attributed to shortages of key materials and slow deliveries by suppliers.
  • Lam Research (LRCX) reported a 2% rise in operating income for its first fiscal quarter along with revenue that beat expectations. The company said operating income was $197.9 million on revenue of $684.6 million. Lam disclosed limited earnings information due to an ongoing employee stock option review.
  • Medtronic (MDT) said a Food and Drug Administration advisory panel unanimously recommended the agency approve the company's Endeavor drug-coated stent for coronary artery disease. The FDA is not bound by panel recommendations but often follows them.
  • Men's Wearhouse (MW) cut its third-quarter earnings outlook to a range of 66 cents to 70 cents a share from a prior expectation for earnings of 70 cents to 73 cents a share. The company cut its outlook as same-store K&G sales were weaker than planned. Wall Street was looking for earnings of 73 cents a share.
  • Sunoco (SUN) signed a long-term lease agreement with Castleway Properties for about 105,000 square feet of office space in Tinicum, Pa., as part of a plan to consolidate engineering and other support services.
  • Wal-Mart (WMT) reported a 1.4 percent rise in September sales at U.S. stores open at least a year, toward the low end of its forecast, but raised its third-quarter earnings estimate. The company said it now expects third-quarter earnings from continuing operations of 66 cents to 69 cents per share, up from a previous forecast of 62 cents to 65 cents.

Market Update

  • Asian trading closed with the Hang Seng +1.97%, Nikkei +1.64%, Sensex +0.84%, Taiwan +0.60% and Shanghai +2.46%.
  • A quick glance towards Europe finds the CAC +0.63%, DAX +0.77%, FTSE +1.04%, ATX +0.52%, Swiss Mkt. +0.63% and Stockholm +0.83%.
  • Crude oil is trading higher +0.71 to 82.01 and gold is also up +5.5 to 751.5 this morning.
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