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Spotlight Stocks: Microsoft, Nortel, Toll Brothers, UBS


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


Stocks to watch for Wednesday, February 27, 2008:

  • DreamWorks Animation (DWA) reported 4Q profit of $94.1 million, or 98 cents a share, with a tax benefit accounting for 7 cents a share in the latest quarter, compared with a net loss of $21.3 million, or 20 cents a share a year earlier. Revenue was boosted to $290.2 million, $179.4 million of which contributed by "Shrek the Third".
  • Microsoft (MSFT) was fined by the European Commission a record $1.35 billion for not obliging to sanctions of a previous antitrust ruling. The company said in a statement that the fines concerned "past issues" and it was now looking to the future. Microsoft is the first company the EU has had to fine for noncompliance.
  • Nortel Networks (NT) reported a 4Q net loss of $844 million, or $1.70 a share, compared with a net loss of $80 million, or 19 cents a share a year ago. The numbers included a charge of $1.04 billion from boosting the valuation allowance against Canadian deferred tax assets. Revenue fell 3.7% to $3.2 billion. Additionally, the company announced it will be cutting 2,100 more jobs.
  • Toll Brothers (TOL) reported a 1Q loss of $96 million, or 61 cents a share, down sharply from a profit of $54.3 million, or 33 cents a share a year ago. The numbers included pretax writedowns of $245.5 million. Revenue fell 23% to $842.9 million.
  • UBS (UBS) is encouraging shareholders to support a capital injection of $11.94 billion from Singapore and an unidentified Middle East investor, reported Reuters. The company has incurred $18 billion in charges related to subprime.

Market Recap

  • Asian trading closed with the Hang Seng +3.24%, Nikkei +1.49%, Sensex +0.11%, Taiwan +1.86% and Shanghai +2.26%.
  • A quick check across the pond finds the CAC -0.49%, DAX -0.34%, FTSE -0.64%, ATX -1.55%, Swiss Mkt. -0.08% and Stockholm -0.01%.
  • Commodities are trading higher with crude oil +0.43 to 101.32 and gold +13.9 to 960.0 this morning.
No positions in stocks mentioned.

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