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Stocks to Watch: Anadarko, GlaxoSmithKline, Google


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


Stocks to watch for Friday, December 28, 2007:

  • Anadarko Petroleum (APC) aid it completed a $2.2 billion monetization of its midstream asset portfolio and will use the proceeds to reduce acquisition-related debt, reported MarketWatch. APC will still control and manage the assets and retain ownership.
  • Christopher & Banks (CBK) reported 3Q profit of $10.2 mln, or 29 cents a share, up from the year ago figures of $9.2 mln, or 24 cents a share. Revenue grew to $160 million from $139.3 million, and same store sales rose 9% for the quarter.
  • GlaxoSmithKline (GSK) said its Advair drug has an edge over Pfizer's (PFE) Spiriva in lung disease patients after seeing results from a clinical trial. Reuters reports a two-year study of 1,300 patients with COPD found both drugs had a similar impact on rate of exacerbations, but people treated with Advair gained a significant improvement in health status and greater survival benefit than those on Spiriva, the firm said.
  • Google (GOOG), according to data by Nielsen Online, saw its share of the internet search market grow to 57.7% in November from 55.5% in October. Yahoo's (YHOO) share dropped to 17.9% from 18.8% while Microsoft (MSFT) fell to 12% from 13.8%.
  • Merrill Lynch (MER), after reporting writedowns for the 4Q, plans to announce about 1,600 layoffs in trading positions and related areas. The cuts represent less than 3% of MER's workforce.
  • Wal-Mart (WMT) has canceled its online video download service after Hewlett-Packard (HPQ) discontinued the technology used to power it. An HPQ spokesman said the results for the video download service were performing as expected. WMT does not expect to look for another technology partner.

Market Recap

  • Asian trading closed with the Hang Seng -1.70%, Sensex -0.05%, Taiwan +1.00% and Shanghai -0.89%.
  • A quick check across the pond finds the CAC -0.16%, DAX -0.11%, FTSE -0.25%, ATX -0.16%, Swiss Mkt. +0.60% and Stockholm -0.05%.
  • Crude oil is trading lower -0.18 to 96.44 while gold is higher +3.5 to 835.4 this morning.
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