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Spotlight Stocks: Countrywide, FedEx, Verizon, Cisco

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

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Stocks to watch for Monday, January 28, 2008:

  • Countrywide's (CFC) CEO Angelo Mozilo will give up $37.5 mln of his severance in the midst of being badgered by politicians for taking large sums of money even as millions face foreclosure. Mozilo plans to leave his post when Bank of America (BAC) completes its acquisition of CFC, worth about $4 bln.
  • FedEx (FDX) is in talks to purchase the DHL delivery business from Deutsche Post, in a move the company hopes will help it compete with UPS (UPS). FDX expects a deal to be proposed by May at the latest.
  • Verizon (VZ) reported 4Q profit of $1.07 bln, or 37 cents a share, up from $1.03 bln, or 35 cents a share a year ago. Revenue rose to $23.8 billion from $22.6 billion. The company added 2 million net new subscribers in the quarter compared with average analyst estimates for 1.85 million from eight analysts contacted by Reuters.
  • Cisco Systems (CSCO) is releasing its Nexus Series of hardware and software products, aimed at solving issues that have surfaced in corporate data centers. According to the Wall Street Journal, Cisco says its Nexus Series will address some of these issues by overlaying a single system atop the current disparate storage, computing and networking systems in data centers.
  • Tyson Foods (TSN) will reportedly cut 1,500 to 2,400 jobs by shutting down all beef slaughter operations at its Emporia, Kansas plant in the next few weeks. The workers will have 60 days until their wages and benefits expire, while the company works to find them other opportunities within TSN.
  • WellCare Health Plans (WCG) saw three of its executives, including CEO Todd Farha, step down on Friday when the company first disclosed that it is under federal investigation related to its Florida behavioral-health operations.


Market Recap

  • Asian trading closed with the Hang Seng -4.25%, Nikkei -3.97%, Sensex -1.14%, Taiwan -3.28% and Shanghai -7.19%.
  • A quick look towards Europe finds the CAC -1.99%, DAX -1.57%, FTSE -2.08%, ATX -3.25%, Swiss Mkt. -1.84% and Stockholm -2.12%.
  • In commodities, crude oil is trading lower -1.42 to 89.29 while gold is higher +8.5 to 919.1 this morning.

GET REAL-TIME INSIGHTS ON THESE STOCKS AND MORE FROM TOP TRADERS ON BUZZ & BANTER. CALL 212-991-9357 FOR A 14-DAY FREE TRIAL OR CLICK BELOW.

No positions in stocks mentioned.

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