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Spotlight Stocks: Home Depot, IBM, MBIA, Siemans


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


Stocks to watch for Tuesday, February 26, 2008:

  • Home Depot (HD) reported fiscal 4Q net income of $671 million, or 40 cents a share, down 27% from $925 million, or 46 cents a share a year ago. Revenue increased 1.5% to $17.66 billion. Excluding the extra week, sales declined 4.7%, the Wall Street Journal reported. Same-store sales fell 8.3% for the quarter which is typically the weakest of the year for home-improvement.
  • IBM (IBM) will launch its new mainframe computer today, the Z10, with a base price of $1 million. The computers are designed for corporate environments and are more energy efficient than low-end servers.
  • Lowe's (LOW) reported 4Q net income of $408 million, or 28 cents a share, down 33% from $613 million, or 40 cents a share, a year ago. The company cut its outlook and said it will slow the opening of new stores. The company plans to open 120 stores in 2008 for 8% growth in square footage.
  • MBIA (MBI) will halt the guarantee asset-backed securities for six months. In a move to try and restore stability in the credit markets, MBIA plans to separate this business from its municipal bond unit. Shares of the company rose yesterday on news the S&P would not cut MBI's rating.
  • Pfizer (PFE) has decided to pull its advertising campaign for Lipitor featuring Dr. Robert Jarvik, as the company has heard criticism the ads are misleading. The company has spend over $258 million on the campaign since January 2006, reported the New York Times. Critics complained the ads misrepresented Dr. Jarvik and his credentials. Although he has a medical degree, Dr. Jarvik is not a cardiologist and is not licensed to practice medicine.
  • Siemans (SI) has plans to cut nearly 4,000 jobs from its telecommunications-equipment unit, reported the WSJ. The company will also move around some 3,000 other employees. The telecom unit, which was once the company's biggest revenue producer, has fallen due to increased competition in markets where labor is cheaper, such as China.

Market Recap

  • Asian trading closed with the Hang Seng +1.92%, Nikkei -0.65%, Sensex +0.88%, Taiwan +0.26% and Shanghai +1.09%.
  • Glancing across the pond, we spy the CAC +0.88%, DAX +1.36%, FTSE +1.10%, ATX +1.46%, Swiss Mkt. +1.74% and Stockholm +1.41%.
  • Commodities are in the red with crude oil -0.20 to 99.03 and gold -6.3 to 931.3 this morning.
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