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Spotlight Stocks: Bank of America, Eli Lilly, Halliburton, National City


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


Stocks to watch for Monday, April 21, 2008:

  • Bank of America (BAC) reported 1Q earnings of $1.21 billion, or 23 cents a share, down 77% from $5.26 billion, or $1.16 a share a year ago. Revenue came in at $17 billion. The weak results were due to write-downs and increased losses from credit.
  • Eli Lilly (LLY) reported 1Q earnings of $1.06 billion, or 97 cents a share, up sharply from $508.7 million, or 47 cents a share a year ago. Last years numbers included a large acquisition charge. Sales increased 14 percent to $4.81 billion from $4.23 billion. The company cited strong growth in sales of its Cymbalta and Cialis drugs.
  • Halliburton (HAL) reported net profit of $584 million, or 64 cents a share, up 6% from $552 million, or 54 cents a share a year ago. Revenue rose 18 percent to $4 billion. According to the company, the growth was helped by more international spending in oil and natural gas exploration.
  • Hasbro (HAS) reported 1Q profits of $37.5 million, or 25 cents a share, up 14% from $32.9 million, or 19 cents a share a year ago. Sales grew 13 percent to $704.2 million from $625.3 million a year ago. Growth in the company's Transformers and Littlest Pet Shop brands helped the strong results.
  • National City Corp. (NCC) was closing in last night on a capital infusion of more than $6 billion from private equity firms, reported The Wall Street Journal. The group of private investors was led by Corsair Capital. The group hopes to get a deal done today, as the company is set to report earnings tomorrow. The newspaper says the plan calls for the investors to pay about $5 a share, resulting in Corsair holding a 9.9% stake in National City.
  • Royal Bank of Scotland (RBS) said it is considering announcing Europe's biggest-ever rights issue, along with over $10 billion of losses on investments this week. Reuters reports the bank will seek to raise up to 12 billion pounds ($24 billion). It is also considering selling assets, including a train leasing business and possibly its insurance arm.

Market Recap

  • Asian trading closed with the Hang Seng +2.17%, Nikkei +1.63%, Sensex +1.57%, Taiwan +0.10% and Shanghai +0.72%.
  • A quick look towards Europe finds the CAC -0.72%, DAX -0.64%, FTSE -0.04%, ATX -0.72%, Stockholm -0.64% and Swiss Mkt. -0.35%.
  • In commodities, crude oil is lower -0.16 to 116.53 while gold is rising +10.3 to 922.5 this morning.
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No positions in stocks mentioned.

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