Stocks to Watch: Brocade, Gap, Home Depot, Medtronic, Whole Foods
Friday's top stories and stocks with potential to move...
Stocks to watch for Friday, August 24, 2007:
- Aeropostale (ARO) reported second-quarter net earnings of $14.7 million, or 19 cents a share, up from $8.42 million, or 10 cents a share, during the year-ago period. The per-share results reflect the 3-for-2 stock split distributed on Aug. 21, 2007, the company noted.
- Bebe Stores' (BEBE) fiscal fourth-quarter net income fell 10% to $19.7 million, or 21 cents a share, from $21.9 million, or 24 cents a share, a year earlier on a rise in expenses related to store compensation and depreciation.
- Brocade Communications Systems (BRCD) reported fiscal third-quarter net earnings of $10.7 million, or 3 cents a share, down 56% from $24.5 million, or 9 cents a share, during the year-ago period. Excluding certain items, the company earned 12 cents a share versus 11 cents a share last year.
- Gap (GPS) said net rose 19% despite a 5% drop in same-store sales as the apparel retailer continued to cut jobs and trim expenses.
- Home Depot (HD) last night was close to accepting about $1.2 billion less for its wholesale distribution business in the sale to three private-equity firms, people familiar with the matter said.
- Jamba Juice (JMBA) said an employee at its Willow Glen store in San Jose, Calif., has been diagnosed and treated for hepatitis A. "There is no connection between the contraction of the virus by this one individual and Jamba Juice stores and our products," the company said in a statement.
- Medtronic (MDT) said it has named William Hawkins as president and chief executive. The Minneapolis-based medical device company also said it has appointed Michael DeMane chief operating officer.
- A federal appeals court denied a request by the Federal Trade Commission to block Whole Foods Market's (WFMI) proposed acquisition of Wild Oats Markets (OATS) , Associated Press reported late Thursday. The ruling by the three-judge panel of the U.S. Court of Appeals clears the way for the $565-million deal to go forward, the report said.
- Asian trading close with the Hang Seng -0.20%, Nikkei -0.41%, Sensex +1.84%, Taiwan -0.49% and Shanghai +1.49%.
- A quick check across the pond finds the CAC -0.03%, DAX -0.40%, FTSE -0.03%, ATX -0.41%, Swiss Mkt. -0.36% and Stockholm -0.22%.
- Crude oil is trading lower -0.17 to 69.66 while gold is higher +2.0 to 670.4.
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