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Spotlight Stocks: Akamai, Cisco, D.R. Horton, MBIA

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

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Stocks to watch for Thursday, February 7, 2008:

  • Akamai Technologies (AKAM) reported 4Q earnings of $35.9 mln, or 20 cents a share, up from $20.6 mln, or 12 cents a share a year ago. Revenue at the company jumped to $183.2 mln from $125.7 mln.
  • Cisco (CSCO) reported fiscal 2Q net income of $2.1 bln, or 33 cents a share, compared with $1.9 bln, or 31 cents a share a year ago. Revenue grew nearly 17% to $9.8 billion. Analysts were expecting earnings of 38 cents a share on revenue of $9.79 billion.
  • D.R. Horton (DHI) reported a fiscal 1Q net loss of $128.8 mln, or 41 cents a share, down sharply from a gain of $109.7 mln, or 35 cents a share a year ago. The homebuilder suffered $245.5 mln in inventory and land charges. Revenue fell 39% to $1.71 billion.
  • MBIA (MBI) will try to raise $750 mln by issuing 50.3 mln shares of common stock. Warburg Pincus LLC. will back the offering by purchasing up to $750 million of convertible participating preferred stock.
  • General Motors (GM) said that by the year 2012, half of its cars in the U.S. will be able to run on ethanol. GM will have 11 ethanol-capable vehicles on the market this year and 15 in 2009, according to GM North American President Troy Clarke. The company's partner, Coskata, plans to begin increasing its ethanol production.
  • Wachovia (WB) will sell $3.5 bln in preferred stock to nearly 80 "major domestic fixed income investors," reported the Wall Street Journal. WB said the perpetual preferred stock will pay a dividend of 7.98% for 10 years, when it will change to a floating interest rate and may be converted to preferred stock. December's offering had an 8% yield.
  • Wal-Mart (WMT) announced an expansion of its in store medical clinic business. The company is planning several hundred new clinics, 200 of which will be branded RediClinics


Market Recap

  • Asian trading closed with the Sensex -3.38% and Nikkei +0.82, with most markets closed for the Chinese New Year.
  • A quick check of Europe finds the CAC -1.28%, DAX -1.15%, FTSE -1.49%, ATX -1.55%, Swiss Mkt. -1.38% and Stockholm -1.91%.
  • In commodities, crude oil is edging higher +0.05 to 87.19 and gold is also up +7.6 to 908.3 this morning.


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No positions in stocks mentioned.

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