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Stocks to Watch: Hewlett-Packard, Pfizer, Sears Holdings


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


Stocks to watch for Tuesday, November 20, 2007:

  • Capital One Financial (COF) said it agreed to cancel its deal to acquire Netspend Holdings. COF still plans to purchase a minority stake in the company, which will not affect its 2008 per-share earnings.
  • Hewlett-Packard (HPQ) reported fiscal 4Q profit of $2.2 bln, or 81 cents a share on revs of $28.3 bln. This, compared with profit of $1.7 bln, or 60 cents a share on revs of $24.6 bln a year ago.
  • Medtronic (MDT) reported fiscal 2Q profit of $666 mln, or 58 cents a share, down from $681 mln, or 59 cents a share a year ago. The company reported sales of $3.12 billion, up from $3.08 billion a year ago.
  • Nordstrom (JWN) reported 3Q net profit of $8.53 mln, or 55 cents a share, up 3.6 % from the year-ago numbers of $8.24 mln or 52 cents a share. Total sales increased 5.3% to $1.97 billion from $1.87 billion a year ago.
  • Pfizer (PFE) won a ruling yesterday when U.S. District Judge Charles R. Breyer of San Francisco decided the plaintiffs did not have sufficient scientifically reliable evidence to prove the company's Celebrex painkiller caused heart attacks or strokes when taking a daily dose of 200 milligrams. There are over 3,000 plaintiffs involved in Celebrex cases, 900 of which were prescribed a 200 milligram daily dosage.
  • Sears Holdings (SHLD) purchased a stake in Restoration Hardware (RSTO) amounting to 13.7% and is considering making a full takeover bid, according to a filing with the SEC. Sears reportedly paid $30.2 million in cash, or $5.67 a share, to acquire 5.3 million shares of RSTO.
  • Target's (TGT) kept its same-store sales outlook for November unchanged, it should see low double digit growth. TGT expects the numbers to rise 2% to 4%.

Market Recap

  • Asian trading closed withe the Hang Seng +1.13%, Nikkei +1.12%, Sensex -1.80%, Shanghai +0.45% and Taiwan was flat with a modest gain.
  • A quick check across the pond is skewed to the upside with the CAC +0.63%, DAX +1.18%, FTSE +0.74%, ATX +0.33%, Swiss Mkt. +0.43% and Stockholm +0.81%.
  • Crude oil is trading higher +1.16 to 95.80 and gold is also up +9.6 to 787.6 this morning.
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