Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Stocks to Watch: Darden Restaurants, General Electric, Goldman Sachs, Lehman, Wal-Mart


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


Stocks to watch for Wednesday, September 19, 2007:

  • Atari (ATAR) said Tuesday evening it has filed its Form 10-K for fiscal year 2007 with the SEC. The video game publisher said in June that the filing would be delayed as it determined the amount of a fourth-quarter goodwill impairment charge.
  • Countrywide Financial (CFC) plans to double the amount of its branch offices offering certificates of deposits and money-market accounts. Countrywide has about 112 such offices and aims to double that over the next four to six months.
  • Darden Restaurants (DRI) reported first-quarter earnings of $105.9 million, or 72 cents a share, up from $88.5 million, or 59 cents a share, a year ago. Sales rose to $1.47 billion from $1.36 billion. Earnings from continuing operations came to 73 cents a share. Analysts polled by Thomson Financial had expected earnings of 70 cents a share on revenue of $1.46 billion.
  • Dress Barn (DBRN) reported fiscal fourth-quarter net earnings of $33.6 million, or 48 cents a share, compared with $24.4 million, or 35 cents a share, last year. Sales rose to $379.9 million from $343.3 million. Analysts expected earnings of 42 cents a share on sales of $377 million. The company also forecast 2008 earnings of $1.40 to $1.50 a share, below Wall Street's estimate of $1.53 a share.
  • General Electric (GE) said it would take a hit of $300 million to $400 million related to its planned exit from the subprime market, saying the charge was part of several one-time losses that would be largely offset by gains from the $11.6 billion sale of the company's plastics division.
  • Goldman Sachs (GS) announced it won't close its flagship Global Alpha hedge fund or inject any of its own money into it. In a letter to the fund's investors, GS promised to better handle borrowing and volatility, to lessen the size of the fund and to "adjust our process."
  • Lehman's (LEH) profit fell 3.2% from the last-year period to $887 mln for the fiscal third quarter on big write-downs of mortgage securities and leveraged buyout loans, though the numbers managed to beat analyst expectations.
  • Wal-Mart's (WMT) health coverage plan for 2008 will reflect the low-premium, high deductable plan it had last year. Its employees will have the option to choose from plans ranging from an $8 monthly premium and $2,000 deductible for those who anticipate needing only minimal medical care to a premium of $94.11 and deductible of $350 for those needing more. The premiums are lower in some locations.

Market Update

  • Asian trading closed with the Hang Seng +3.98%, Nikkei +3.67%, Sensex +4.17%, Taiwan +0.30% and Shanghai -0.55%.
  • A quick check towards Europe finds the CAC +2.56%, DAX +1.89%, FTSE +2.32%, ATX +3.22%, Swiss Mkt. +2.28% and Stockholm +3.02%.
  • Crude oil is higher +0.61 to 82.12 this morning and gold is also up +7.5 to 731.2 this morning.
< Previous
  • 1
Next >

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos