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Spotlight Stocks: Applied Materials, Coca-Cola, Exxon Mobil, Genentech


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


Stocks to watch for Wednesday, February 13, 2008:

  • Applied Materials (AMAT) reported 1Q net income of $262.4 million, or 19 cents a share, down from $403.5 million, or 29 cents a share a year ago. Revenue was $2.09 billion, down from $2.28 billion.
  • Coca-Cola (KO) reported 4Q net income of $1.21 bln, or 52 cents a share, up sharply from $678 mln, or 29 cents a share a year ago. Excluding charges, Coke earned 58 cents per share. The numbers last year were hurt by a one-time charge. The company said earnings were boosted by emerging market sales, acquisitions of non-carbonated drinks including Vitaminwater, and the introduction of Coke Zero.
  • Exxon Mobil (XOM) will not be receiving oil exports from Venezuela after it threatened to stop exports to the entire US two days ago. XOM recently froze its Venezuelan assets, worth about $12 bln.
  • Genentech (DNA) said a Phase III study of Avastin, its breast cancer drug, increased survival of patients and did not progress the disease when used with the chemotherapy docetaxel. The FDA will vote on approval on Feb. 23.
  • Blue Nile (NILE) reported 4Q net income of $7.54 million, or 45 cents a share, up from $5.75 million, or 35 cents a share, a year earlier. Analysts had expected earnings of 44 cents a share excluding one-time items. The company said net sales increased to $111.9 million from $90.7 million.
  • Wynn Resorts (WYNN) reported 4Q net income of $65.5 million, or 57 cents a share, compared with a loss of $55.4 million, or 55 cents a share, a year earlier. Sales at the company were $711.3 million, up from $563.6 million.

Market Recap

  • Asian trading closed with the Hang Seng +1.08%, Nikkei +0.36%, Sensex +2.05%, Taiwan -0.04% and Shanghai -2.37%.
  • A quick look towards Europe finds the CAC -0.41%, DAX -0.75%, FTSE -1.19%, ATX +0.19%, Swiss Mkt. -0.52% and Stockholm -1.42%.
  • Crude oil is edging lower -0.01 to 92.77 and gold is also down -4.2 to 903.2 this morning.
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