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Spotlight Stocks: Barclay's, Honda, Nvidia, Yahoo


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


Stocks to watch for Monday, June 16, 2008:

  • American International Group's (AIG) new CEO Robert Willumstad is trying to win back the confidence of investors by saying "nothing is off the table" in regards to a turnaround in the world's biggest insurer, reported Bloomberg. Willumstad replaced Martin Sullivan over the weekend. Willumstad plans to "dig into... all of the businesses," to make sure capital is employed in the right areas.
  • Barclay's (BCS) announced it plans to sell shares worth billions of pounds to new and existing shareholders. A weekend newspaper report said it would raise 4 billion pounds ($7.8 billion) from sovereign wealth funds in a deal that could be completed in the next two weeks, reported Reuters. The company hopes to shore up its capital position and improve its stretched balance sheet.
  • Honda (HMC) has begun production on its FCX Clarity, a new fuel-cell car being made in Tochigi, north of Tokyo, the first assembly line to be dedicated to building such cars. Sales are set to begin in the Fall of this year at special fuel-cell dealerships in the US. These vehicles use hydrogen, have no harmful tail-pipe emissions, and do not compromise driving performance.
  • Nvidia (NVDA) and Advanced Micro Devices (AMD) are developing new graphics chips to be used in chips for videogames that reach speeds known as a 'teraflop' or a trillion scientific operations per second, reported The Wall Street Journal. These chips are not a big factor in the market for supercomputer chips, which currently is dominated by Intel (INTC) and IBM (IBM), but debates continue about the possibilities.
  • Yahoo's (YHOO) deal with Google (GOOG) last week "might have some merit", according to investor Carl Icahn. The billionaire is locked in a proxy battle with YHOO to replace its board after talks to be acquired by Microsoft (MSFT) dwindled. The deal that was struck would allow either company to terminate it if Yahoo is acquired or if a majority of its board is replaced at its upcoming annual shareholders meeting in August.

Market Recap

  • Asian trading closed with the Hang Seng +1.94%, Nikkei +2.72$, Sensex +1.36%, Taiwan +0.79% and Shanghai +0.18%.
  • Glancing towards Europe, we see the CAC +0.01%, DAX +0.21%, FTSE +0.27%, ATX +0.55%, Swiss Mkt. +0.13% and Stockholm +0.51%.
  • In commodities, crude oil is trading higher +0.27 to 135.14 and gold is also up +1.0 to 871.3 this morning.
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No positions in stocks mentioned.

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