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Stocks to Watch: Boeing, Capital One, Cisco, Fluor, Vodafone


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


Stocks to watch for Wednesday, August 8, 2007:

  • Allied World Assurance (AWH) reported second-quarter net earnings of $123.3 million, or $1.96 a share, up from $102.4 million, or $2.02 a share, during the year-ago period. The company posted operating income of $125.3 million, or $1.99 a share, versus operating income of $112.1 million, or $2.21 a share, for the second quarter 2006. The insurer said net premiums written for the three months ended June 30 came in at $386.6 million, up 4.4% from $370.3 million last year.
  • Bob Evans Farms' (BOBE) July same-store sales rose 4.4% at Bob Evans Restaurants and fell 1.5% at Mimi's Cafe.
  • Boeing (BA) said that Cathay Pacific Airways has ordered five additional Boeing 777-300ER jetliners, increasing the Hong Kong-based carrier's commitment to a total of 23 of the twin-engine, twin-aisle airplanes. The five new airplanes have an estimated value of $1.4 billion at list prices, Boeing said.
  • Capital One Financial (COF) said it has agreed to acquire NetSpend Holdings., the parent company of NetSpend Corp., for $700 million in cash. NetSpend is a retail marketer of prepaid debit cards.
  • Cisco Systems (CSCO), continuing to benefit from growing technology trends such as online video, Internet telephone service and videoconferencing, posted a 25% jump in its fiscal fourth-quarter profit. The networking giant reported an 18% increase in revenue for the period as customers continued buying equipment to upgrade networks to handle rising Internet, video and data traffic.
  • Dendreon's (DNDN) second-quarter net loss narrowed to $22.2 million, or 27 cents a share, from $25.1 million, or 35 cents a share, a year earlier. The biopharmaceutical company's revenue jumped to $523,000 from $78,000 in the year-ago period.
  • Fluor (FLR) said profit in the second quarter rose to $96 million, or $1.05 a share, from $67 million, or 74 cents a share, in the same period a year ago. Sales rose 22% to $4.2 billion on growth across its business lines excluding the government sector. Sales to the energy sector were particularly strong, it said.
  • Guitar Center's (GTRC) second-quarter net income fell to $9.6 million, or 32 cents a share, from a year-earlier profit of $13.4 million, or 47 cents a share. Excluding a transaction charge, income in the recent period was 37 cents a share. The musical instrument retailer, which agreed recently to be acquired by Bain Capital Partners LLC for $63 a share, said its second-quarter sales increased 13% to $518.9 million, from $458 million a year earlier.
  • Heelys (HLYS) reported second-quarter net earnings of $12.8 million, or 45 cents a share, up from $4.19 million, or 17 cents a share, during the year-ago period. The footwear company said revenue for the three months ended June 30 rose to $74.3 million from $30.9 million.
  • McDermott International (MDR) posted a second-quarter profit of $149.4 million, or $1.31 a share, up from $47 million, or 41 cents a share, a year earlier thanks to strong results in its power generation systems and offshore oil and gas construction businesses. Revenue rose to $1.42 billion from $1.05 billion.
  • Vodafone (VOD) dispelled speculation around its operations in the U.S., saying it wouldn't sell a $10 billion stake in its Verizon Wireless (VZ) joint-venture to business partner Verizon Communications

Market Update

  • Asian trading closed with the Hang Seng +2.87%, Nikkei +0.64%, Sensex +2.51%, Taiwan +2.68% and Shanhai +0.26%.
  • A quick check across the pond finds the CAC +1.04%, DAX +0.58%, FTSE +0.77%, ATX +1.16%, Swiss Mkt. +1.44% and Stockholm +1.61%.
  • Crude oil is trading lower -0.31 to 72.11 while gold is higher +1.2 to 683.5 this morning.
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