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Stocks to Watch: Boeing, General Motors, KKR, Microsoft, Target


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


Stocks to watch for Monday, September 17, 2007:

  • Bank of America (BAC) said that it has introduced special pricing today for borrowers seeking to refinance their mortgages with traditional, conforming 30 yr and 15 yr fixed rate loans and non-conforming 30yr fixed rate loans. The limited time offer runs through Nov. 30.
  • BEA Systems (BEAS) said it has received an additional notice from Nasdaq that it is not in compliance with the exchange's listing standards for the Nasdaq Global Select market due to a delay in the filing of its Form 10-Q for the 2Q.
  • Boeing (BA) says there is a possibility it can release its first 787 Dreamliner jet on time in May, despite its nearly four-month delay in the program caused by a critical shortage in aerospace fasteners.
  • General Motors (GM) proposed to unload more than $50 bln in debts owed to the United Auto Workers retiree health care to be placed in a union-controlled trust, which may add as much as $1,200 to $1,500 of costs per car compared to those of Toyota (TM).
  • KKR Financial Holdings LLC (KFN) said it has agreed to sell seven of its private equity investments to two institutional investors for $191 million in cash. KKR said its net gain on the sales will be about $51 million and it will earn a net internal rate of return of roughly 19.3% on the sales.
  • Lattice Semiconductor (LSCC) said it expects third-quarter revenue to be flat to down 2% sequentially. The company also said it will record a one-time restructuring charge in the third quarter of $1.4 million to $1.7 million related to the headcount reduction it announced on Sept. 4, according to Thomson.
  • Liz Claiborne (LIZ) said it plans to sell assets of four of its midprice apparel brands to Li & Fung USA. The apparel company expects the sale of Emma James, Intuitions, JH Collectibles and Tapemeasure to close during the fourth quarter. Liz Claiborne also intends to discontinue its First Issue business by the end of the year.
  • Microsoft's (MSFT) anti-trust case in Europe took a hit, one of Europe's highest courts dismissing nearly all of its appeals of the 2004 decision to fine the company $689.7 mln. Microsoft is likely to appeal the ruling to Europe's highest tribunal, the European Court of Justice.
  • Target (TGT) will begin offering a collection of apparel by British designer Alice Temperley at London based department store Selfrifdges & Co. The Temperley Target collection sold at Selfridges will feature dresses, knit tunics, cropped jackets and mod accessories whose U.S. prices range from $14.99 to $139.99.

Market Update

  • Asian trading closed with the Hang Seng -1.20%, Nikkei +1.94%, Sensex -0.64%, Taiwan -1.46% and Shanghai +2.06%.
  • A quick look across the pond finds the CAC -1.54%, DAX -0.51%, FTSE -1.73%, ATX -1.31%, Swiss Mkt. -0.82% and Stockholm -1.53%.
  • Crude oil is trading lower -0.61 to 78.49 while gold is higher +1.7 to 719.5 this morning.
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No positions in stocks mentioned.

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