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Stocks to Watch: Advanced Micro Devices, AstraZeneca, Citigroup, Countrywide, Disney


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


Stocks to watch for Monday, September 10, 2007:

  • Advanced Micro Devices (AMD) will launch its new microprocessor today, code-named Barcelona. This is seen as a step forward in the company's ongoing competition with rival Intel (INTC).
  • AstraZeneca's (AZN) MedImmune unit said it resolved issues raised in a May 24 warning letter from the Food and Drug Administration about its influenza vaccine manufacturing facility in Speke, U.K. The facility is the bulk-manufacturing site for FluMist influenza vaccine. MedImmune is currently working with the FDA so that shipping of FluMist to customers can soon begin for the upcoming influenza season.
  • Citigroup (C) will list its shares in Tokyo as early as November as part of a push into the world's second-largest economy, sources familiar with the matter told Reuters on Monday. C relaunched its local unit as a Japanese bank in July, becoming the first foreign bank to receive approval to operate as a local entity and making it easier to open new branches.
  • Countrywide Financial (CFC), the nation's largest mortgage lender, said Friday that up to 20% of its employees stand to lose their jobs within three months.
  • L'Oreal has filed suit against eBay (EBAY) for its disinterest in taking action against the sale of counterfeit items on its site. eBay claims it takes significant action in all counterfeit cases reported to it by its customers.
  • Rambus (RMBS) said it has reached a settlement agreement over a class-action securities lawsuit, targeting its options grants, filed against the chipmaker last July. Under the terms of the deal, Rambus will pay $18 million under the settlement, which still requires final documentation and approval of the court.
  • Walt Disney (DIS) said it will implment a testing system for quality control issues regarding products using any of its characters, following several toy recalls by Mattell (MAT) this summer. The tests will involve some of the more than 65,000 children's products from around 2,000 vendors of toys, jewelry, furniture and other Disney items, said Gary Foster, a spokesman for Disney's consumer products division.

Market Update

  • Asian trading closed with the Hang Seng +0.07%, Nikkei -2.22%, Sensex +0.04%, Taiwan -0.89% and Shanghai +1.48%.
  • A quick check across the pond finds the CAC -0.09%, DAX -0.02%, FSTE +0.04%, ATX -0.16%, Swiss Mkt. -0.19% and Stockholm -0.44%.
  • Crude oil is trading lower -0.47 this morning while gold is higher +3.7 to 713.4 this morning.

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