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Spotlight Stocks: Activision, Alcatel-Lucent, Exxon Mobil, Merck


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


Stocks to watch for Friday, February 8, 2008:

  • Activision (ATVI) reported fiscal 3Q net income of $272.2 mln, or 86 cents a share, up from $142.8 mln, or 46 cents a share a year ago. Revenue for the quarter grew 80% to $1.48 billion. The company beat analyst expectations of both earnings and revenue.
  • Alcatel-Lucent (ALU) reported a 4Q net loss of 2.58 bln euros ($3.73 bln), attributed in part to a charge of 2.52 bln euros from write downs in its CDMA and IMS equipment unit. Revenue grew 18% to 5.23 bln euros from 4.42 bln euros a year earlier.
  • Exxon Mobil (XOM), according to Reuters, has won court orders freezing up to $12 billion in Venezuelan assets around the world as it fights for compensation for operations lost to President Hugo Chavez's nationalization drive.
  • Merck (MRK), in settling lawsuits related to marketing and sales practices, will pay fees of more than $650 mln. The company used a practice called "nominal pricing", for which it will pay $218 million to the federal government and $181 million to 49 states and the District of Columbia. Additionally, the company will pay $250 mln to settle a suit in Louisiana regarding pricing of it Pepcid heartburn medicine.
  • GlaxoSmithKline (GSK) reported net profit fell to £1.06 billion ($2.06 billion) from £1.18 billion a year earlier. Sales were about flat at £5.97 billion, compared with £5.96 billion a year earlier. According to the Wall Street Journal, the company saw lower sales of the diabetes drug Avandia and stiff competition from inexpensive generic drugs.
  • Allegheny Energy (AYE) said fourth-quarter net income rose to $110.4 million, or 65 cents a share, compared with net income of $64.6 million, or 38 cents a share, a year ago. Revenue rose 7% to $786.3 million, thanks to higher market prices, higher generation rates in Pennsylvania, and increased retail sales, reported MarketWatch.

Market Recap

  • Asian markets closed with the Nikkei -1.44% and Sensex -0.35%, with most markets still closed for the Chinese New Year.
  • A quick check across the pond finds the CAC +0.09%, DAX +0.57%, FTSE +0.15%, ATX +0.30%, Swiss Mkt. +0.48% and Stockholm -0.92%.
  • In commodities, crude oil is up +0.70 to 88.81 and gold is rising +9.6 to 915.7 this morning.
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