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Stocks To Watch: Apple, Boeing, Disney, Macy's, Take-Two


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


Stocks to watch for Monday, June 11:

  • AmTrust Financial Services (AFSI) increased its quarterly cash dividend 25% to 2.5 cents a share. The dividend is payable on July 16 to shareholders of record as of July 2, the New York-based provider of specialty property and casualty insurance products said.
  • Apple (APPL) is in talks with the Hollywood studios to make new movies available for rental for its iTunes service.
  • Atmel (ATML) swung to a fourth-quarter net loss of $122.6 million, or 25 cents a share, from a year-earlier profit of $48.1 million, or 10 cents a share. Results for the recent fourth quarter ended Dec. 31 included impairment and restructuring charges of $121.2 million, compared with $28 million a year earlier. The radio-frequency chip maker filed both its 2006 annual report and reports for the second and third quarters of 2006, and said Nasdaq agreed to stay any decision to suspend the company's listing pending a review in July. The financial reports were delayed by a now-completed stock option investigation that resulted in additional stock compensation charges of $116 million for 1993 through 2005, excluding payroll and tax adjustments.
  • Boeing (BA) will deliver 22 787-Dreamliner planes to Russia's Aeroflot, starting in 2014.
  • Disney's (DIS) joint venture with India's Yash Raj Films to make animated movies voiced by Bollywood stars is part of the entertainment giant's new strategy in high-growth foreign markets
  • Journal Register (JRC) named board member James Hall as acting chief executive while Chairman and CEO Robert Jelenic takes a leave of absence to undergo treatment for cancer. The media company said Hall has established an operating committee to work with him on the day-to-day operations of the company. The committee is composed of Chief Financial Officer Julie Beck, and senior vice residents Edward Condra and Scott Wright.
  • Macy's (M) canceled a plan for KB Home (KBH) to build mock houses in its stores to display a new line of Martha Stewart household goods, though the launch of the merchandise will go ahead.
  • Marsh Inc., a unit of Marsh & McLennan (MMC) , late Friday said it has named Mark McGivney as chief financial officer. McGivney joins the company from the Hanover Insurance Group (HIG) , where he served as senior vice president of finance, corporate treasurer and CFO for the company's property/casualty business, the company said.
  • O.I. (OICO) named J. Bruce Lancaster chief executive officer and Donald P. Segers president and chief operating officer. Lancaster will remain chief financial officer. Promoted to general manager in 2001, Segers had been serving as acting president since January when former President and CEO William W. Botts was put on leave pending the results of a company investigation. Botts resigned in March after the investigation found he directly benefited from options backdating.
  • Pacific Ethanol (PEIX) said late Friday it has filed a shelf registration statement with the Securities and Exchange Commission that would allow the company to sell up to $250 million of its common stock. The ethanol maker said it would use the proceeds from any sale for general corporate purposes.
  • Tesoro (TSO) named Otto Schwethelm chief financial officer to replace Greg Wright, who will become the San Antonio refiner's executive vice president and chief administrative officer. Schwethelm was most recently vice president of finance and treasurer of the company. That position will now be filled by Philip Anderson, who has been with the company since 1998. Tesoro also named Dan Porter senior vice president of supply and optimization.
  • Take-Two Interactive Software (TTWO) is expected to post a loss of 58 cents a share for the second quarter.

Market Update:

  • Asian trading closed with the Hang Seng +0.52%, Nikkei +0.31%, Sensex +0.14%, Taiwan +0.46% and Shanghai +2.11%.
  • A quick check across the pond finds the CAC +0.68%, DAX +1.04%, FTSE +0.57%, ATX +0.89%, Swiss Mkt. +0.45% and Stockholm +0.56%.
  • Crude oil is trading higher +0.29 to 65.05 and gold is also up +5.2 to 655.5.
No positions in stocks mentioned.

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