Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Spotlight Stocks: Barnes & Noble, Ford, Merrill, Wal-Mart


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


Stocks to watch for Thursday, August 14, 2008:

  • Barnes & Noble (BKS) is reportedly unlikely to bid to acquire rival Borders Group (BGP), which put itself up for sale in March due to potential liquidity problems, reported The Wall Street Journal. A merger made sense here as cost reduction due to combined corporate operations would have helped BKS. Borders hopes to complete the auction by the end of September, according to a person close to the company.

  • Ford (F) has begun production on a new global subcompact car, dubbed the Fiesta, amid an effort to cut manufacturing and development costs, reported Reuters. The company sees this as a way to expand its product development efforts on a global platform, which can reduce overall development costs and purchasing costs, while allowing for differing interiors, exterior colors and other options depending on regional customer preferences.

  • Merrill Lynch (MER) is expected to cut its dividend by "roughly 50 percent or more" according to Interactive Brokers Group options trader Steve Sosnick. This despite the company's CEO, John Thain, assuring it would maintain its 35 cent quarterly dividend. A cut would be the first in the company's history since it went public in 1971.

  • Wal-Mart (WMT) reported 2Q net income of $3.45 billion, or 87 cents a share, up 17% from $2.95 billion, or 72 cents a share a year ago. Sales increased 10.4% to $101.6 billion from $92 billion last year. The company also said it is raising its full-year profit forecast as low prices and cost cutting have helped the retailer.

Market Recap

  • Asian trading closed with the Hang Seng +0.47%, Nikkei -0.51%, Sensex -2.44%, Taiwan +0.46% and Shanghai -0.38%.

  • Glancing towards Europe, we see the CAC +0.92%, DAX +0.49%, FTSE +1.22%, ATX +0.77%, Swiss Market +0.61% and Stockholm +0.80%.

  • In commodities, crude oil is down -0.16 to 115.81 while gold is higher +6.4 to 831.4 this morning.
< Previous
  • 1
Next >
No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos