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Stocks to Watch: Akamai, Bank of America, Cablevision, Microsoft, Wal-Mart


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


Stocks to watch for Thursday, October 25, 2007:

  • Akamai Technology (AKAM) reported 3Q profits rose to $415.3 million, or $1.38 a share, from $232.1 million, or 76 cents a share, in the year-ago period. Revenue grew to $1.34 billion from $1.2 billion a year ago.
  • Ameriprise Financial's (AMP) third-quarter net income increased 14% to $198 million, or 83 cents a share, from $174 million, or 71 cents a share, a year earlier.
  • Bank of America (BAC) said it will eliminate 3,000 jobs, or less than 2% of its overall staff, from its investment banking business, as well as conduct a strategic review of the unit due to its poor performance of late. The head of BAC's global corporate and investment banking, Gene Taylor will retire at the end of this year.
  • Cablevision's (CVC) shareholders rejected the Dolan family's offer of $10.6 bln to take the company private. This was the Dolans' latest, and probably last, of four steadily increasing offers, the most recent for $36.26 a share. In after hours trading, CVC shares dropped 3.3%, or $1.04 to $30.82.
  • Ely Lilly (LLY) said it will, along with Daiichi Sankyo Co., temporarily suspend enrollment in Phase II clinical trials for blood clot treatment, called prasugrel, until changes in study protocol are made. The changes will address a dose adjustment of the treatment.
  • F5 Networks (FFIV) reported fiscal 4Q net income dropped 27%. Its earnings fell to $12.9 mln, or 15 cents a share, from $17.8 mln or 21 cents a share a year earlier. This drop was in part due to a 16 cents per share charge from the company's acquisition of Acopia Networks.
  • Microsoft (MSFT) will take on a stake in the social networking company Facebook for $240 mln. This is part of a round of financing for Facebook that values the company at $15 bln. The deal will reportedly bolster Microsoft;s advertising partnership with Facebook, which will expand from U.S. advertising to international.
  • Monster Worldwide (MNST) reported net income of $33.3 million, or 25 cents a share, compared to a loss of $83.8 million, or 64 cents a share, for the same period last year. Revenue grew 18% to $337.1 million. Analysts were expecting earnings of 33 cents a share on revenue of $336.6 million.
  • Pulte Homes (PHM) reported a third-quarter net loss of $787.9 million, or $3.12 a share, compared with a net profit of $190.2 million, or 74 cents a share, in the year-earlier period. Revenue at the company fell to $2.47 billion from $3.56 billion a year ago.
  • Symantec (SYMC: News, Quote) said net income for the period ended in September fell to $50.4 million, or 6 cents a share, compared to $126.2 million, or 13 cents a share in the period last year. Revenue rose to $1.42 billion from $1.26 billion. Analysts expected the company to report earnings of 26 cents a share, on $1.39 billion in revenue for the quarter.
  • Terex's (TEX) 3Q earnings rose 50% to $151.5 million, or $1.45 a share, from $101 million, or 98 cents a share, a year earlier. The company said Wednesday that quarterly revenue rose 15% to $2.2 billion from $1.9 billion a year ago. Analysts had expected earnings of $1.47 a share on revenue of $2.21 billion.
  • Wal-Mart (WMT) said in the next year it will focus its international expansion in Canada, China and Mexico, which together will account for 80% of WMT's expansions next year. Also in focus will be the more developed UK and Japan, along with emerging markets in India and Brazil.

Market Recap

  • Asian trading closed with the Hang Seng +1.78%, Nikkei -0.45%, Sensex +1.39%, Taiwan +1.33% and Shanghai -4.80%.
  • A quick check across the pond finds the CAC +1.47%, DAX +1.38%, FTSE +1.40%, ATX +1.23%, Swiss Mkt. +0.80% and Stockholm +1.40%.
  • Crude oil is trading higher +1.41 to 88.51 and gold is also up +5.1 to 770.7 this morning.
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No positions in stocks mentioned.

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