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Spotlight Stocks: Anheuser-Busch, Bank of America, Bear Stearns, Microsoft

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

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Stocks to watch for Wednesday, May 28, 2008:

  • Anheuser-Bush (BUD) employees and distributors may be holding back the takeover by Belgium's InBev. Though investors would welcome a deal, the Teamsters union could call upon political allies including Presidential candidate Barrack Obama to help derail the bid. The union represents 7,500 BUD employees.
  • Bank of America (BAC) will increase its stake in China Construction Bank Corp. by investing an additional $1.86 billion. BAC now controls a 10.75% stake, up from 8.2%. The company says it's part of building a long term relationship with the Chinese bank, which is the second largest on the mainland.
  • Bear Stearns (BSC) will release documents to the SEC which will show major financial companies, including Goldman Sachs (GS) cut exposure to the firm in the weeks before its collapse, reported The Wall Street Journal. The SEC plans to use the data to detect any trading activity was improperly coordinated, constituted manipulation or otherwise contributed to Bear's collapse.
  • JetBlue Airways (JBLU), in an effort to be financially conservative, will defer the purchase of 21 Airbus A320 jets by up to five years, reported Marketwatch. JetBlue said delivery would be moved back to 2014 through 2015 from 2009-2011, citing rising fuel costs.
  • Microsoft (MSFT) introduced its future operating system which will be made for touch-screen monitors. The Windows 7 OS is scheduled to be released in late 2009. Microsoft Chairman Bill Gates framed the new feature as an evolution away from the mouse, said the Associated Press.


Market Recap

  • Asian trading closed with the Hang Seng -0.13%, Nikkei -1.32%, Sensex +1.53%, Taiwan -1.28% and Shanghai +2.48%.
  • A glance across the pond finds the CAC +1.49%, DAX +1.08%, FTSE +0.36%, ATX +0.65%, Swiss Mkt. +0.47% and Stockholm +0.63%.
  • Commodities are hurting with crude oil down -1.94 to 126.91 and gold dropping -16.4 to 891.5 this morning.
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No positions in stocks mentioned.

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