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Stocks to Watch: Google, SAP, SLM Corp, Sprint Nextel, Yum Brands


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


Stocks to watch for Tuesday, October 9, 2007:

  • Gateway (GTW) said that it will buy all of the shares of PB Holding Co. from Lap Shun Hui and Clifford Holdings Ltd. Hui owns a 75% interest in PB Holding, the parent company of Packard Bell BV. Acer, which plans to merge with Gateway, has agreed to fund the acquisition, the company said. Financial terms weren't disclosed.
  • Google (GOOG) will be providing YouTube videos to thousands of other websites in the hopes of benefiting from ads attached to the clips.
  • McAfee (MFE) agreed to buy SafeBoot BV, a privately held security software vendor, for $350 million. McAfee expects the deal to be dilutive to 2008 per-share earnings and neutral to 2008 pro forma per-share earnings.
  • SAP AG (SAP), after announcing its plan to buy Business Objects (BOBJ) for $6.78 bln, was met by skepticism as shares fell 4% yesterday in European trading. SAP said that with Business Objects it gets a leg up in the emerging market of business-intelligence software, which helps companies analyze data to help cut costs, identify opportunities and outsmart competitors.
  • SLM Corp. (SLM) filed a lawsuit yesterday forcing a J.C. Flowers-led buyout group to either finish its takeover deal or pay a $900 mln breakup fee. By not completing the buyout the group would be violating the terms of the deal by its attempts to walk away from or renegotiate the deal. The suit asks the court to find that, contrary to claims by the buyout group, no "material adverse event" has impacted SLM's business.
  • Sprint Nextel (S) CEO Gary Forsee stepped down after the company warned it will not meet its previous financial targets. Sprint's chief financial officer, Paul Saleh, will be acting CEO while the board continues its search.
  • Yum Brands (YUM) posted a 17% gain in third-quarter profit. The fast-food chain operator said its results were helped by strong growth outside the U.S., particularly in China. It also raised its forecast for the full year.

Market Update

  • Asian trading closed with the Hang Seng +1.65%, Nikkei +0.56%, Sensex +4.92%, Taiwan -0.80% and Shanghai +0.41%.
  • A quick check across the pond finds the CAC +0.15%, DAX +0.19%, FTSE +0.65%, ATX -0.18%, Swiss Market +0.32% and Stockholm +0.14%.
  • Crude oil is down -0.41 to 78.61 and gold is also lower -4.2 to 734.5 this morning.
No positions in stocks mentioned.

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