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Stocks to Watch: Bear Stearns, Microsoft, SanDisk, Toyota, Vonage


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


Stocks to watch for Monday, October 22, 2007:

  • Bear Stearns (BSC) is close to reaching an agreement with Chinese investment bank Citic Securities. The two companies will likely invest about $1 bln in each other, giving Citic a 6% stake in BSC and giving Bear about a 2% stake in the Chinese bank.
  • Hasbro (HAS) saw 3Q net income rise 62%, stemming from a tax gain and strong sales of movie related products including Star Wars, Spider-Man 3 and Transformers related toys. The company posted net income of $161.6 million, or 95 cents a share, compared with $99.6 million, or 58 cents a share, a year earlier.
  • Microsoft (MSFT) said it will be reducing prices of its Xbox gaming system in Japan by 13%. The Xbox 360 console will sell in Japan for ¥34,800 ($304) starting Nov. 1, down from ¥39,795, Microsoft's Japan unit said in a statement.
  • SanDisk (SNDK) will begin selling its new Sansa TakeTV product today. The device will store digital video which can then be moved from a personal computer to a television set, eliminating the need for a network or video signal. The company is also introducing a test version of Fanfare, its Internet video service.
  • Toyota (TM) reported that it sold 2.34 mln vehicles worldwide in the quarter ending September 30, falling back behind General Motors (GM) as the world's leader in auto sales. Toyota's world-wide vehicle sales for the nine months to end-September -- at 7.05 million vehicles -- also fell short of Detroit-based GM's sales of 7.06 million vehicles for the same period.
  • Vonage (VG) said that it is being sued by AT&T (T) for patent infringement. While out of court settlements have been discussed, there is no guarantee the case won't go to trial. VG recently settled a patent dispute with Sprint Nextel (S) to the tune of $80 mln.
  • Wal-Mart (WMT) said it is removing a line of animal toys from its stores upon discovering the base materials of the products contained excessive levels of lead. The toys sets were described as "Farm Animals," "Dinosaurs," and "Jungle Animals."
  • Yahoo (YHOO) said Cammie Dunaway, its chief marketing officer and head of customer experience, will leave the company in early November, as part of a reorganization effort to better compete with the likes of Google (GOOG).

Market Update

  • Asian trading closed with the Hang Seng -3.70%, Nikkei -2.24%, Sensex +0.31%, Taiwan -2.61% and Shanghai -2.59%.
  • A quick look towards Europe finds the DAX -1.36%, FTSE -1.45%, ATX -1.19%, Swiss Mkt. -1.16% and Stockholm -2.75%.
  • Crude oil is trading down -1.15 to 85.80 and gold is also lower -13.4 to 754.80 this morning.
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