Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Spotlight Stocks: BHP Billiton, Disney, Time Warner, Toll Brothers

By

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

PrintPRINT

Stocks to watch for Wednesday, February 6, 2008:

  • BHP Billiton (BHP) announced a formal takeover bid for Rio Tinto (RTP) for about $173.6 bln. According to the Wall Street Journal, BHP is offering 3.4 BHP shares for each Rio Tinto share, an increase from its initial and informal proposal of a three-for-one, all-share takeover
  • Walt Disney (DIS) reported fiscal 1Q earnings of $1.25 bln, or 63 cents a share, compared to $1.7 bln, or 79 cents a share a year ago. Revenue rose to $10.45 billion, attributed to strong income from television networks, theme parks and consumer products.
  • Time Warner (TWX) reported 4Q net income of $1.03 bln, or 28 cents a share, down 41% from $1.73 bln, or 44 cnets a share a year ago. Revenue rose 2.4% to $12.64 billion from $12.34 billion. This quarter numbers were taken down by a one cent a share restructuring charge.
  • Toll Brothers (TOL) posted a 22% loss y/y in fiscal 1Q home-building revenue to $842.7 mln. According to the Wall Street Journal, the company said it is still finalizing its first-quarter impairment analysis, but expects pretax write-downs of between $150 million and $300 million.
  • Google (GOOG) is attempting to stage a joint venture with a Chinese online music company in the hopes to offer free, licensed music downloads in the country. The WSJ says the service, which is likely to offer access to tunes from three global music companies as well as dozens of smaller players, could start in the next several weeks barring any last-minute hiccups.
  • United Technologies (UTX) is in discussions with Boeing (BA) to work out finances and costs related to the delay of BA's 787 Dreamliner. Boeing has said it expects to have the new passenger plane airborne this summer, about a year later than planned.


Market Recap

  • Asian trading closed mostly lower with the Hang Seng -5.40%, Nikkei -4.70%, Sensex -2.81%, Taiwan +2.03% and Shanghai -1.55%.
  • A glance towards Europe shows the CAC +0.58%, DAX +0.54%, FTSE +0.07%, ATX -0.65%, Swiss Mkt. -0.66% and Stockholm +0.08%.
  • Over in commodities, crude oil is trading up +0.21 to 88.62 and gold is also higher +8.8 to 894.7 this morning.

READ WHAT TOP TRADERS ARE DOING IN THESE STOCKS AND MORE IN REAL-TIME ON BUZZ & BANTER. CALL 212-991-9357 FOR A FREE TRIAL OR CLICK BELOW.
No positions in stocks mentioned.

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.

PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE