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Stocks to Watch: Blackstone, Countrywide, Intel, Qwest, Washington Mutual


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


Stocks to watch for Monday, August 13, 2007:

  • Blackstone (BX) reported second-quarter net income of $774.4 million, compared with $224.1 million a year earlier. Per-unit figures weren't provided. Revenue nearly tripled to $975.3 million from $324.6 million. The mean estimates of analysts surveyed by Thomson Financial were for earnings of 46 cents a unit on revenue of $1.06 billion.
  • Countrywide Financial's (CFC) stock price fell Friday after the company said that problems in the U.S. mortgage market pose a serious threat to its earnings and financial condition.
  • Intel (INTC) plans to expand a family of chips that bundles two dual-core chips together, pressing its advantage over Advanced Micro Devices (AMD) in the multicore chip market.
  • McClatchy (MNI) late Friday said it filed its Form 10-Q with the Securities and Exchange Commission and revised its second-quarter earnings downward to $35.2 million, or 43 cents a share, from $39.95 million, or 49 cents a share, originally reported on July 19, to include a non-cash 6-cent litigation charge. The media company said the charge stems from a settlement between Seattle Times Co., of which it owns 49.5%, and Hearst Corp.'s Seattle newspaper.
  • Polo Ralph Lauren (RL) said it has approved a new $250 million stock repurchase program. The apparel company said the new authorization is in addition to the $198 million remaining under a previous stock buyback program.
  • Qwest Communications (Q) named Edward A. Mueller, formerly of Ameritech Corp. and Williams-Sonoma (WSM), as its chief executive and chairman.
  • Washington Mutual (WM) shares fell Friday after the bank said liquidity in the secondary market for home loans and mortgage-backed securities has "diminished significantly."

Market Recap

  • Asian trading closed with the Hang Seng +0.45%, Nikkei +0.21%, Sensex +1.00%, Taiwan +0.09% and Shanghai +1.49%.
  • A look towards Europe finds the CAC +1.17%, DAX +0.84%, FTSE +1.99%, ATX +1.31%, Swiss Mkt. +0.98% and Stockholm +2.24%.
  • Crude oil is trading higher +0.68 to 72.15 while gold is lower -0.5 to 681.1 this morning.
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