Stocks to Watch: Amazon, Abbot Labs, Barclays, Bear Stearns, Wal-Mart
Monday's top stories and some stocks with potential to move...
Stocks to watch for Monday, August 6, 2007:
- Amazon.com (AMZN) confirmed on Friday that it will offer an online payments service that could compete with similar services offered by eBay (EBAY) and Google (GOOG).
- Abbot Laboratories (ABT) said Richard Gonzalez, its president and chief operating officer, plans to retire from the company, effective Sept. 30. The heads of Abbott's four operating businesses -- medical devices, pharmaceuticals, nutritionals and diagnostics -- will report directly to Chief Executive Miles White upon Gonzalez's retirement.
- Barclays (BCS)) formally launched its 65 billion euro ($89 billion) bid for ABN AMRO (ABN) on Monday as it attempts to beat a Royal Bank of Scotland-led consortium in the biggest ever bank takeover.
- Bear Stearns' (BSC) co-president and co-chief operating officer Warren Spector resigned on Sunday, becoming a casualty of a credit risk crisis at the investment bank.
- Berkshire Hathaway (BRKA) posted a 33% rise in second-quarter profit to $3.12 billion, or $2,018 a share.
- US car firm Chrysler chose Bob Nardelli - the former head of Home Depot (HD) - as its new chief executive.
- FedEx Kinko's, a unit of package-delivery company FedEx Corp. (FDX), said Monday it plans to expand its operations throughout fiscal 2008 by adding 300 new U.S. office and print centers.
- Drugs group Orion (ONH) on Monday reported rising second-quarter profits, and said it sees 2007 operating profit and sales up slightly year-on-year.
- Wal-Mart (WMT) and India's Bharti Enterprises said on Monday they had signed an equal joint venture for Indian cash-and-carry and retail back-end operations.
- Asian trading closed with the Hang Seng -2.67%, Nikkei -0.39%, Sensex -1.55%, Taiwan -1.28% and Shanghai +1.48%.
- A quick check towards Europe finds the CAC -0.52%, DAX +0.25%, FTSE +0.24%, ATX -0.66%, Swiss Mkt. -0.16% and Stockholm -0.98%.
- Crude oil is trading lower -1.40 to 74.08 while gold is higher +1.2 to 685.6 this morning.
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