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Stocks to Watch: Bausch & Lomb, Healthways, Microsoft, Motorola, Newmont


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


Stocks to watch for Friday, July 6, 2007:

  • Advanced Medical Optics proposed a $4.3 billion takeover of Bausch & Lomb (BOL) potentially upsetting an existing $3.7 billion deal signed by private-equity firm Warburg Pincus LLC.
  • Healthways (HWAY) reported fiscal third-quarter net earnings of $10.8 million, or 29 cents a share, up 15.6% from $9.34 million, or 26 cents a share, in the year-ago period. Analysts polled by Thomson Financial were expecting, on average, a per-share profit of 29 cents. Healthways cut it fiscal 2007 earnings forecast to a range of $1.21 to $1.22 a share from its previous view of $1.44 to $1.61 share, and cut its revenue outlook to a range of $618 million to $630 million from its earlier forecast of $640 million to $659 million.
  • Interactive Brokers Group (IBKR) said it expects to report second-quarter net income of $153 million to $163 million. The electronic marketplace operator puts pro forma earnings at 26 cents a share to 28 cents a share for the quarter ended June 30, compared with earnings of 24 cents a share in the prior-year period. Interactive Brokers projects net revenue of $281 million to $299 million, compared with $291 million a year earlier. Excluding certain items, the company expects adjusted pro forma earnings of 32 cents a share to 34 cents a share and adjusted net income of $175 million to $185 million.
  • Longs Drug Stores' (LDG) preliminary June retail drugstore sales from continuing operations rose 3.5% to $464 million from $448 million a year earlier. Same-store sales at the chain rose 1.3%, reflecting a 1.5% increase in pharmacy and a 1.1% increase in front-end sales.
  • Microsoft (MSFT) said it will take a $1.05 billion to $1.15 billion pretax charge and extend the Xbox 360 warranty for consumers after experiencing an "unacceptable" number of repairs to Xbox 360s already sold.
  • Motorola (MOT) said in a regulatory filing it will take a $101 million charge in its recently completed second quarter. The charge is related to cost-cutting initiatives that involve laying off 7,500 workers at the wireless device maker. In a filing with the Securities and Exchange Commission, the company said the cost reduction program has affected about 2,100 workers in the second quarter. The company said all three of its business segments have been affected by the actions.
  • Newmont Mining (NEM) said it's eliminating its entire 1.85 million-ounce gold hedge position and plans to discontinue its merchant banking segment. The gold producer said that during June it spent $578 million to eliminate its entire price-capped forward sales contracts, and it will report a pre-tax loss of roughly $531 million on the early settlement of the contracts, after a $47 million reversal of previously recognized deferred revenue. In addition, as a result of its decision to discontinue its merchant banking segment, Newmont said it will take a non-cash impairment charge of roughly $1.7 billion in the second quarter. The company said it is considering alternatives for the unit, including a possible sale or initial public offering.
  • Parametric Technology (PMTC) said lower-than expected license revenue will result in total fiscal third-quarter revenue of $225 million, up 4% from a year earlier, but lower than its earlier forecast of $235 million to $240 million. The product development and publishing services company expects earnings for the third quarter ended June 30 will be lower than the company's earlier prediction. Wall Street expects third-quarter earnings of 28 cents a share, on revenue of $238.2 million, according to the average estimate of analysts polled by Thomson Financial.

Market Update

  • Asian trading closed with the Hang Seng +1.25%, Nikkei -0.44%, Sensex +0.69%, Taiwan +0.43% and Shanghai +4.58%.
  • A quick look towards Europe finds the CAC +0.47%, DAX +0.24%, FTSE +0.53%, ATX +0.25%, Swiss Mkt. +0.14% and Stockholm +0.23%.
  • Crude oil is trading higher +0.07 to 71.88 this morning while gold is lower -1.8 to 648.7.
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