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Stocks To Watch: American Eagle, Bristol-Meyers, CVS-Caremark, Toll Brothers, Toyota


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


Stocks to watch for Thursday, May 10:

  • American Eagle Outfitters (AEO) said sales at stores open longer than a year, the industry's growth benchmark, tumbled 10%. The results fell well short of the average 1.3% gain expected by analysts reporting to Thomson Financial and were hurt by the Easter calendar shift into March this year as well as April 2006's 19% surge in same-store sales. The teen-wear retailer said it would keep with its first-quarter earnings forecast of 34 cents to 35 cents a share. Thomson Financial has earnings pegged at 35 cents a share.
  • Bristol-Myers (BMY) agreed to collaborate with ISIS Pharmaceuticals (ISIS) on drugs focusing on a gene thought to boost bad cholesterol.
  • CVS/Caremark (CVS) board was re-elected, but with significant votes against or withheld that reached as high as 44% for one director.
  • Goodyear Tire & Rubber (GT) said it plans to offer 22.5 million shares in an underwritten public offering.
  • Hot Topic (HOTT) said its April sales at stores open at least one year fell 9.1%, while same-store sales in the first-quarter fell 2.3%. Analysts, on average, had expected the company to post an April same-store sales drop of 5.7%, according to Thomson Financial.
  • IBM (IBM) plans to start a business aimed at helping customers slash energy use in data centers.
  • Morgan Stanley (MS) will pay nearly $8 million to settle charges that it defrauded customers and failed to provide the best execution of some trades, the SEC said.
  • The SEC said Motorola (MOT) will pay $25 million to settle accusations that it knew or should have known that Adelphia was misusing a marketing agreement between the two companies to falsify its earnings.
  • Nabors (NBR) said the SEC is ending a probe of the oil driller's stock-option grants and will recommend no enforcement action.
  • News Corp.'s (NWS) Fox Sports is expected to announce an agreement with corporate sibling MySpace and the NFL that will give Super Bowl TV advertisers a larger Web presence during the game.
  • Six Flags (SIX) first-quarter loss narrowed, as costs and expenses, the cost of accounting for stock-option payments and loss on fixed assets fell, while attendance rose 6%. The New York-based amusement park operator's loss narrowed to $170.6 million, or $1.86 a share, from a loss of $241 million, or $2.63 a share, a year earlier. The company's loss from continuing operations narrowed to $1.76 a share from $2.14 a share. Analysts surveyed by Thomson Financial expected, on average, a loss of $1.93 a share.
  • Toll Brothers (TOL) reported preliminary results, including a 19% revenue drop and a 24% slide in orders, amid tighter lending standards.
  • Toyota's (TM) quarterly profit rose a modest 8.9%, weighed down by raw-material costs, sluggish U.S. demand and spending on quality control and R&D.
  • Zumiez (ZUMZ) said its April sales at stores open at least one year rose 3%. Analysts, on average, had expected the company to post a same-store sales increase of 5.1%, according to Thomson Financial. Net sales for the four weeks ended May 5 rose 34.4% from the same period last year to $20.2 million, the apparel retailer said.

Market Update

  • Asian trading closed with the Hang Seng -0.47%, Taiwan +0.55%, Shanghai +0.91, Nikkei -0.06% and Sensex -0.07%.
  • A quick look across the pond finds the CAC -0.14%, DAX -0.33%, FTSE -0.25%, ATX -0.56%, Swiss Mkt. -0.35% and Stockholm -0.59%.
  • Crude oil is +0.32 to 61.85 and gold is -3.60 to 678.9 this morning.
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No positions in stocks mentioned.

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