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Spotlight Stocks: Continental, Microsoft, Procter & Gamble, Yahoo


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

Stocks to watch for Friday, June 20, 2008:

  • Continental Airlines (CAL) and United Airlines (UAUA) will reportedly work together in an alliance aimed at boosting revenue and reducing fuel costs, reported the Associated Press. United's parent, UAL Corp., closed negotiations with American Airlines (AMR) and British Airways after the deal. Antitrust barriers are still a factor in the deal going through. Continental said it would seek antitrust immunity from the Transportation Department to form joint ventures on trans-Atlantic flying with United and Lufthansa, and eventually on flights to Latin America and Asia.
  • Microsoft (MSFT) will not seek to make a number of Internet acquisitions in the wake of its failed merger with Yahoo, which recently struck a deal with Google's (GOOG) search advertising unit, reported the Financial Times. CEO Steve Ballmer said, "At the end of the day, this is about the ad platform. This is not about just any one of the applications."
  • Procter & Gamble (PG) is planning a deal with ConAgra (CAG) which would give it access to its packaging and design design business. This will include the use of non-splatter valves on plastic bottles to wrappings – to make its products more user-friendly, reported the Financial Times. It will also be able to use "nutritionally enhancing" food ingredients, such as Calsura calcium.
  • Yahoo (YHOO) will reportedly see a number of its executives leave the company as it hopes to improve on earnings and regain investor confidence, reported Reuters. Additionally, the company is looking into a reorganization plan which would centralize its Yahoo mail, search and homepage divisions into a global product organization.

Market Recap

  • Asian trading closed with the Hang Seng 0.23%, Nikkei -1.33%, Sensex -3.42%, Taiwan -1.81% and Shanghai +3.01%.
  • Quickly glancing towards Europe, we see the CAC -1.59%, DAX -0.55%, FTSE -0.55%, ATX +0.35%, Swiss Mkt. -1.19% and Stockholm -0.73%.
  • In commodities, crude oil is trading higher +1.31 to 133.24 and gold is also up +1.4 to 903.1 this morning.
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No positions in stocks mentioned.

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