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Spotlight Stocks: Intel, JP Morgan, Apple, Boeing, Rio Tinto


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


Stocks to watch for January 16, 2008:

  • Intel (INTC) reported 4Q income of $2.27 bln, or 38 cents a share, up from $1.5 bln, or 26 cents a share a year ago. Revenue jumped 10% to $10.7 bln.
  • Boeing (BA) is expected to announce further delays in the production of its 787 Dreamliner program, which has already been delayed six months. The company will most likely not meet its delivery goal of 109 planes by the end of 2009.
  • Apple (AAPL), at its Macworld conference, announced it will offer an Internet movie rental service. All major Hollywood studios have agreed to participate in the program. Additionally, the company unveiled a new ultra-thin laptop called the MacBook Air.
  • JP Morgan (JPM) reported its quarterly profit dropped 24% while taking a $1.3 bln writedown on risky mortgages. The company reported 4Q income from continuing operations of $2.97 bln, or 86 cents a share, down from the year ago number of $3.91 bln, or $1.09 a share.
  • Rio Tinto (RTP), after turning out record tonnages of iron ore, copper and other industrial minerals in 2007, is fighting the takeover bid by BHP Billiton (BHP), reports Reuters. The bid from November was for a three-for-one share swap proposal, worth about $139 billion.
  • MetLife's (MET) board authorized the buyback of an additional $1 billion in stock, reported MarketWatch. The company said the authorization follows the completion of a prior $1 billion authorization of which about $61 million remains.

Market Recap

  • Asian trading closed with the Hang Seng -5.37%, Nikkei -3.35%, Sensex -1.89%, Taiwan -2.96% and Shanghai -2.81%.
  • A quick look across the pond finds the CAC -0.76%, DAX -1.35%, FTSE -1.40%, ATX -4.66%, Swiss Mkt. -2.04% and Stockholm -1.01%.
  • Over in commodities, crude oil is trading lower -1.29 to 90.61 and gold is sinking -19.4 to 883.2 this morning .
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