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Spotlight Stocks: AIG, Dell, eBay, Take-Two


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


Stocks to watch for Friday, February 29, 2008:

  • American International Group (AIG) reported a quarterly loss of $5.29 billion, including a pretax charge of $11.2 billion related to its CDS portfolio. The company's adjusted fourth-quarter loss, excluding capital gains, losses and hedging activity, was $3.2 billion, or $1.25 a share. The loss was the widest in company history.
  • Dell (DELL) reported a fiscal 4Q earnings of $679 million, or 31 cents a share, down from $726 million, or 32 cents a share a year ago. Revenue was up to $16 billion from $14.47 billion. According to MarketWatch, the company had $83 million in expenses related to the acquisition of two companies, EqualLogic and Everdream, and $54 million of expenses that were tied to severance costs.
  • eBay (EBAY) agreed to settle by purchasing the three patents involved in its lawsuit with MercExchange, along with additional related technology and inventions and a license to another search-related patent portfolio that was not asserted in the lawsuit, reported the Wall Street Journal. The lawsuit was originally filed in 2001 over eBay's online auction and ecommerce operations.
  • Microsoft (MSFT) is encouraging people to upgrade to the Windows Vista operating system by lowering prices at retail outlets. Currently, only 10% of Microsoft customers use Vista. In the US, Vista Ultimate will be cut to $319 from $399 and an "upgrade" version to $219 from $259.
  • Take-Two (TTWO), after it received an offer to be bought by Electronic Arts (ERTS) for $2 billion, or $26 a share, said it has been approached by other potential buyers. The company said the offers were informal and it isn't negotiating any of the offers.
  • Viacom (VIA) reported 4Q net income rose 16% to $559.5 million, or 86 cents a share, from $480.8 million, or 69 cents. The company said revenue was helped by strong sales of its "Rock Band" video game as well as DVD sales of "Transformers" and "Shrek the Third".

Market Recap

  • Asian trading closed with the Hang Seng -1.06%, Nikkei -2.32%, Sensex -1.38%, Taiwan -0.58% and Shanghai +1.14%.
  • Glancing across the pond we find the CAC -1.24%, DAX -1.43%, FTSE -0.84%, ATX -0.56%, Swiss Mkt. -1.39% and Stockholm -0.89%.
  • Crude oil is trading lower -0.64 to 102.00 while gold is lifting +2.7 to 970.2 this morning.
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