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Stocks to Watch: General Motors, Google, Oracle, Verizon, UBS


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


Stocks to watch for Tuesday, October 30, 2007:

  • Applebee's International's (APPB) third-quarter earnings rose to $15.8 million, or 21 cents a share, from $14.8 million, or 20 cents a share, a year ago. Revenue rose to $323.7 million from $314.2 million. Analysts had expected the company to earn 26 cents a share on revenue of $324 million.
  • Atheros Communications (ATHR) reported third-quarter net profit of $9.7 million, or 16 cents a share, up from $6.3 million, or 11 cents a share, in the year-earlier period. The company said revenue totaled $106.3 million compared with $79.6 million. Analysts had forecast earnings of 26 cents a share on revenue of $106 million.
  • CB Richard Ellis Group's (CBG) 3Q earnings rose 25% to $114.9 million, or 48 cents a share, from $92.3 million, or 39 cents a share, a year earlier. Excluding charges, the company reported earnings of 55 cents a share. The company reported a rise in revenue of 54% to $1.49 billion from $967.9 million. Analysts had expected third-quarter earnings of 57 cents a share on revenue of $1.44 billion.
  • EOG Resources (EOG) reported 3Q net income of $202.4 million, or 82 cents a share, down from $297.3 million, or $1.21, a year ago. Revenue for the three months ended Sept. 30 was $990.5 million, up 2.3% from $968.7 million a year ago. Analysts had forecast the company would earn 79 cents a share on $971 million in revenue.
  • General Motors (GM), due to fast growing concerns about pollution and fossil fuels, has laid out plans to invest in the research of environmentally friendly technolgy in China. GM, as part of a $250 mln corporate campus in Shanghai, will build a center for advanced auto research.
  • Google's (GOOG) long anticipated strategy to enter into the cell phone industry is close to being announced. The internet giant aims to break down the barriers of access into wireless software that has been built by the big wireless carriers.
  • Oracle (ORCL) has backed out of its bid to buy BEA Systems (BEAS) as its offer of $17 per share expired, though at the end of the trading day yesterday, BEAS stock was trading 20% higher than before ORCL's bid was made. There is speculation that ORCL may still be in the running to up their offer.
  • Verizon Communications (VZ) reported 3Q profit dropped 34% from a year earlier, when it was helped by $377 mln in earnings from discontinued operations. The company added 1.6 million net new subscribers for the quarter.
  • UBS (UBS) reported a net loss of 830 mln Swiss francs ($712.8 mln) in its 3Q due to write-downs on US mortgage-securities, compared with a net profit of 2.2 billion francs in the year-earlier period. The company also warned it isn't likely to return to profit in the 4Q.

Market Update

  • Asian trading closed with the Hang Seng +0.16%, Nikkei -0.28%, Sensex -0.97%, Taiwan -0.53% and Shanghai +2.60%.
  • A quick check across the pond finds the CAC -0.51%, DAX -0.45%, FTSE -0.71%, ATX -0.18%, Swiss Mkt. -0.46% and Stockholm -0.57%.
  • Crude oil is trading lower -1.22 to 92.31 and gold is also down -5.1 to 787.5 this morning.
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