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Spotlight Stocks: Blackstone, Washington Mutual, Texas Instruments


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

Stocks to watch for Monday, March 10, 2008:

Blackstone (BX) reports earnings today; analysts expect $0.21 per share for 4Q 2007. Shares are down 61% since its IPO in June of last year. The flurry of deal activity last summer preceding the credit crunch has forced banks to carry billions in leveraged loan obligations, many of which are being valued well below par.

Analysts are looking for earnings of $0.46 per share from Texas Instruments (TXN). Watch for strength in technology if TXN reports strong results, after upbeat earnings from National Semiconductor (NSM) Friday buoyed the Nasdaq amid a broader market sell-off.

Homebuilder Hovnanian Enterprises (HOV) reports earnings, with analysts expecting a steep loss of $1.99 per share on land writedowns and lower home sales prices. Check out the 'Ville Vertical Timeline for this and more stories sure to move the market ... or something else, this week.

Fitch lowered credit ratings on several major banks Friday after bell, with Washington Mutual (WM), Wells Fargo (WFC) and Bank of America (BAC) all getting dinged. In related news, troubled bond insurer MBIA (MBI) asked Fitch to stop ratings it debt, stating the firm did not agree with Fitch's rating process.

Footlocker (FL) is expected to post earnings of $0.42 per share for the fourth quarter, down from $0.70 a year ago. How many pairs of shoes do you really need?

Market Recap
  • Asian trading closed with the Hang Seng +0.91%, Nikkei -1.96%, Sensex -0.32%, Taiwan -2.72% and Shanghai -3.59%.
  • A quick look towards Europe finds the CAC -0.21%, DAX -0.32%, FTSE -0.35%, ATX +0.13%, Swiss Mkt. -0.74% and Stockholm -0.80%.
  • Crude oil is trading down -0.73 to 104.42 while gold is unchanged at 974.20 this morning.
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No positions in stocks mentioned.

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