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Stocks to Watch: Alcatel-Lucent, Goldman Sachs, McDonald's, Qualcomm, Target


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

Stocks to watch for Thursday, September 13, 2007:

  • Alcatel-Lucent (ALU) cut its full-year revenue forecast on Thursday, sending its shares down by nearly 10 percent and adding further pressures to the recently merged group, citing a change in capital spending among North American wireless customers.
  • Goldman Sachs' (GS) Global Alpha hedge fund fell 22.5 percent in August, its biggest monthly decline, on losses from currency and stock trades, according to an update sent to investors. The drop is seemingly a product of the fund's carry trade from Japanes yen to Australian dollars, as the Aussie fell 6% against the yen in August.
  • McDonald's (MCD) raised its annual dividend 50% to $1.50, payable Dec. 3 to holders of record Nov. 15. The company expects to return $15 billion to $17 billion to shareholders between 2007 and 2009.
  • Nike (NKE) named John Slusher vice president of global sports marketing, replacing Adam Helfant. Slusher is currently vice president of sports marketing for Asia Pacific and the Americas.
  • Qualcomm (QCOM) said on Wednesday an appellate court had granted a stay on a U.S. trade agency ban on imports by third parties of some mobile phones using chips that are at the center of a patent dispute. The International Trade Commission had imposed a ban on the imports after finding that Qualcomm had infringed a patent held by Broadcom (BRCM).
  • Sprint Nextel (S) said it will provide a mobile Web portal for shoppers from 30 online retailers including Wal-Mart (WMT) and Target (TGT).
  • Target (TGT) said it will review potential ownership alternatives for its credit card receivables, an asset worth about $7 billion.

Market Update

  • Asian trading closed with the Hang Seng +0.93%, Nikkei +0.15%, Sensex +0.70%, Taiwan -1.01% and Shanghai +1.95%.
  • Across the pond, we spy the CAC -0.27%, DAX -0.38%, FTSE -0.21%, ATX +0.03%, Swiss Mkt. -0.34% and Stockholm -0.48%.
  • Crude oil is trading lower -0.06 to 79.85 and gold is also down -6.7 to 714.0 this morning.
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No positions in stocks mentioned.

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