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Stocks to Watch: Dell, Google, SunMicro


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


Stocks to watch for Tuesday, November 6, 2007:

  • Activision (ATVI) reported net income for its fiscal 2Q of $698,000, without a gain or loss per share, compared with a loss of $24.3 million, or 9 cents a share, for the same period last year. Revenue was up 69% to $317.7 mln.
  • Alcoa (AA) sold its automotive castings business to Compass Automotive Group, a subsidiery of Monomoy Capital Partners, under undisclosed financial terms. This business employs about 530 people and brought in $150 mln in revenue in 2006.
  • Caterpillar (CAT) has agreed to buy Blount International's (BLT) forest unit. CAT will pay Blount $77.3 mln for the unit's assets.
  • Citigroup (C) said its credit situation won't be resolved until the middle of 2008. Citi's shares fell 4.9% in yesterday's trading, after announcing Sunday that it may have to record losses of $8-11 bln in the current quarter.
  • Countrywide Financial (CFC) has given employees more time to excercise their stock options, increasing the chances the shares will be worthwhile. The company's stock is down 65% this year.
  • Dell (DELL) announced it will acquire Equalogic for $1.4 bln, the company's largets ever purchase. "Storage is the fastest growing business that we have," said Dell Chief Executive Michael Dell. "This gives us a great intellectual property position in where the world is heading."
  • Delta Airlines (DAL) reported its traffic increased in October 6.2% to 10.6 bln revenue passenger miles. Capacity rose 2.9% to 12.76 bln available seat miles. Load factor rose 2.5 points to an October record of 79.6%.
  • Forest Oil (FST) reported a 25% drop in 3Q net income. Earnings for the company fell to $58 mln, or 65 cents a share from $79.6 mln or $1.21 a share a year ago. Revenue increased 54% to $313 million from $202.8 million a year ago.
  • Google (GOOG) announced a partnership with 33 companies including mobile-handset makers, cellular carriers and other technology companies. GOOG plans to make its new software for mobile devices, which will allow access to advanced internet services, available for free in the second half of 2008.
  • H&R Block (HRB) CFO William L. Trubeck resigned from the company, which is facing severe losses stemming from the subprime mortgage market. Becky S. Shulman, 42, senior vice president and treasurer, was named acting chief financial officer. The company said it will conduct a search for a successor.
  • Research in Motion (RIMM) said its settlement agreement had been approved by the Ontarie Supreme Court of Justice regarding a lawsuit with the Trustees of Ironworkers Ontario Pension.
  • Sun Microsystems (JAVA) reported 1Q profit of $89 mln, or 3 cents a share on revs of $3.22 bln, up from a year ago when it reported a loss of $56 million, or 2 cents a share, on revenue of $3.19 billion.
  • UAL Corp's (UAUA) United Airlines reported October traffic fell 0.6% to 9.61 bln revenue passenger miles from 9.67 billion revenue passenger miles. United's October load factor, or portion of available seats filled, edged up to 81.1% from 80.6% a year ago. Capacity at the airline slid 1.1% to 11.85 bln available seat miles from 12 billion available seat miles in October 2006.

Market Recap

  • Asian trading closed with the Hang Seng +1.71%, Nikkei -0.12%, Sensex -0.61%, Taiwan -0.17% and Shanghai -1.74%.
  • Glancing across the Atlantic, we find the CAC +0.34%, DAX +0.58%, FTSE +0.48%, ATX +0.42%, Swiss Mkt. +0.49% and Stockholm +0.74%.
  • Crude oil is trading higher +1.82 to 95.79 and gold is also ramping +12.7 to 823.40 this morning.
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