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Spotlight Stocks: Baidu, MBIA, Morgan Stanley, Yahoo


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


Stocks to watch for Thursday, February 14, 2008:

  • (BIDU) reported 4Q net income of 219.8 million yuan ($30.1 million), or 6.32 yuan a share (87 cents), up from from 181.7 million yuan, or 5.23 yuan a share a year ago. Revenue rose to 571.1 million yuan ($78.3 million) from 496.5 million yuan a year ago.
  • MBIA (MBI) sold 94.6 million shares of its common stock at $12.15 a share, equaling about $1.1 billion in net proceeds. Warburg Pincus LLC picked up $300 million in stock. The company now reportedly has $17 billion in total claims-paying resources.
  • Morgan Stanley (MS) says it will cut its operations in the U.S. residential mortgage market and close its U.K.-based residential mortgage lending business, Advantage Home Loan as it continues to struggle in the mortgage markets. The Wall Street Journal reports about 1,000 employees will be affected.
  • Yahoo (YHOO) has entered into discussions with News Corp. (NWS) to work a deal that would trade the ownership of NWS' MySpace and other online properties for a 20% or more stake in YHOO, reported the Wall Street Journal. Yahoo continues to look for ways to avoid a Microsoft (MSFT) takeover.
  • Comcast (CMCSA) reported 4Q net profit of $602 million, or 20 cents a share, a 54% rise from $390 million, or 13 cents a share a year ago. Revenue rose 14 percent to $8.01 billion. Hoping to boost its share price, Comcast will pay an annual dividend and set a 2009 target to complete a stock buyback program, reported Reuters.
  • UBS (UBS) disclosed $26.6 billion in exposure to risky U.S. mortgages distinct from subprime loans. Shares traded down 6.51% on the news. Reuters reports the exposure was to so-called Alt-A mortgages, which are of higher quality than subprime loans but also considered risky.

Market Recap

  • Asian trading closed with the Hang Seng +3.68%, Nikkei +4.27%, Sensex +4.82%, Taiwan +4.17% and Shanghai +1.37%.
  • Glancing over at Europe, we find the CAC +0.97%, DAX +0.50%, FTSE +0.46%, ATX +1.10%, Swiss Mkt. +0.83% and Stockholm +1.15%.
  • Crude oil is on the rise +0.57 to 93.84 while gold is trading lower -0.9 to 906.5 this morning.
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