Stocks to Watch: Electronic Arts, Exxon Mobil, Google, Merrill Lynch, Nationwide
Friday's top stories and stocks with potential to move...
Stocks to watch for Friday, November 2, 2007:
- Affiliated Computer Services (ACS) reported net income of $66.1 million on revenue of $1.49 billion, compared to $61.4 million on revenue of $1.38 billion a year ago. The company reported an adjusted non-GAAP earnings per share of 77 cents. Analysts had expected the company to report earnings per share of 84 cents on revenue of $1.49 billion.
- Allegheny Technologies' (ATI) board approved a $500 mln share repurchase program, while also increasing its quarterly dividend by 38.5% to 18 cents from 13 cents, to be paid on December 28 to stockholders of record as of Dec. 10.
- Callaway Golf (ELY) reported 3Q profit of $1.27 million, or 2 cents a share, up from loss of $11.9 million, or 18 cents a share, a year earlier. Net sales increased 22% to $235.5 million from $193.8 million. Analyst expectations were for a profit of 2 cents a share and revenue of $236 million.
- Continental Airlines (CAL) said traffic rose to 7.69 bln revenue passenger miles from 7.26 bln, or 6%. The company's capacity rose 5.7% to 9.68 billion available seat miles from 9.16 billion.
- Electronic Arts (ERTS) reported a loss of $195 million, or 62 cents a share, compared to earnings of $22 million, or 7 cents a share, for the same period last year. Revenue fell to $640 million from $784 million. The company attributes the loss to a change in how it accounts for revenue from sales of certain types of video games.
- Exxon Mobil (XOM) reported 3Q profits of $9.41 bln, a 10% decline, attributed to aggressive governments investing in oil and also governments trying to lessen the burden of rising oil prices on the consumer.
- Google (GOOG) and News Corp's (NWS) MySpace are planning to launch OpenSpecial, which will help people build social applications across the Internet. MySpace CEO Chris DeWolfe said the partnership with Google will aid the company in distributing this platform to developers.
- Las Vegas Sands (LVS) reported a 3Q loss of $48.5 million, or 14 cents a share. The company said net income of $97.3 million, or 27 cents a share. Sales were $694.3 million versus last year's $578.9 million.
- Merrill Lynch (MER) has set up certain deals with hedge funds that may delay its losses related to its risky mortgage-backed security exposure. The SEC is currently investigating the company's valuing, or "marking," its mortgage securities and how it has disclosed its positions to investors and is likely to investigate these deals as well.
- Nationwide Financial Services' (NFS) 3Q earnings fell 10%. The company reported earnings of $147 million, or $1.03 a share from $161.9 million, or $1.08 a share, a year earlier. Revenue fell 2% to $1.13 billion from $1.16 billion a year ago, the company said.
- Asian trading closed with the Hang Seng -3.25%, Nikkei -2.09%, Sensex +1.28%, Taiwan -3.39% and Shanghai -2.31%.
- A quick check across the Atlantic finds the CAC -0.93%, DAX -0.89%, FTSE -1.13%, ATX -1.76%, Swiss Mkt. -0.95% and Stockholm -1.26%.
- Crude oil is trading higher +0.96 to 94.45 while gold is lower -1.6 to 793.7 this morning.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter