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.

Stocks to Watch: IBM, Intel, Vonage, Washington Mutual, Yahoo


Today's big stories and some stocks with potential to move...


Stocks to watch for Wednesday, April 18:

  • CSX Corp. (CSX) reported first-quarter net income of $240 million, or 52 cents a share, down from $245 million, or 53 cents, a year ago. The latest quarter's results were boosted by 2 cents a share from insurance recoveries. Revenue for the three months ended March 31 totaled $2.4 billion, up 4% from the year-ago period, with strong pricing offsetting a 4% drop in overall volumes.
  • Domino's Pizza (DPZ) said it has completed a recapitalization with a $1.85 billion debt facility and the declaration of a $13.50 a share special dividend.
  • International Business Machines (IBM) reported first-quarter profit rose 8% as the technology giant benefited from stronger demand in its global services and software businesses.
  • Intel (INTC) reported first-quarter profit rose 19% on a large tax benefit, while sales slipped 1% amid sluggish demand for its microprocessors used in PCs and servers.
  • Introgen Therapeutics (INGN) said a cancer-suppressing gene has been successfully delivered into the tumors of stage IV lung cancer patients using the company's intravenously administered lipid nanoparticle product candidate INGN 401. Introgen said it's the "first clinical demonstration that a gene can be injected intravenously and be taken up and expressed at high levels in cancer cells at distant sites."
  • Vonage Holdings (VG) says bankruptcy is among the potential risks from its continuing patent litigation with phone giant Verizon Communications (VZ). A federal jury in Virginia ruled last month the company had infringed on Verizon's patents, and a judge ordered an injunction on its service. Vonage is contesting the decision; its service has been unaffected so far.
  • Washington Mutual (WM) reported a 20% drop in net income late Tuesday and a $113 million loss for the company's home loans group partly due to subprime exposure, hurt by a slowing mortgage market.
  • Western Refining (WNR) and Giant Industries (GI) late Tuesday said a federal judge has scheduled a hearing for May 7 to address the Federal Trade Commission's challenge to their proposed $1.4 billion merger. The hearing was requested by the companies. Last November, Western Refining agreed to acquire Giant for $77 a share in cash. In April, the FTC approved a complaint challenging the merger, citing reduced competition for the bulk supply of light petroleum products to northern New Mexico.
  • Yahoo (YHOO) reported an 11% drop in first-quarter profit as its revenue growth rate continued a steady decline. Yahoo's shares fell about 8% in after-hours trading. Analysts said the first quarter had been expected to be a tough one when compared with earlier quarters, with benefits from new ad system Panama not yet arriving and increased competition for the graphical display advertising that some estimate represents about one-third of Yahoo's revenue.

Market Update

  • Asian trading closed mostly higher with the Hang Seng -0.06%, Nikkei +0.80%, Sensex +0.48%, Taiwan +0.55% and Shanghai +0.01%.
  • A quick look towards Europe is not so pretty in pink with the CAC -0.10%, DAX -0.47%, FTSE -0.42%, ATX -0.64%, Swiss Mkt. +0.56% and Stockholm -0.48%.
  • Gold is trading higher +0.6 to 693.1 while crude oil is down -0.32 to 62.78 this morning.
< Previous
  • 1
Next >

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.

Featured Videos