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Spotlight Stocks: KKR, Motorola, Sirius, Toyota

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

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Stocks to watch for Monday, July 28, 2008:

  • Kohlberg Kravis Roberts, a private equity firm, will become a publicly traded company on the NYSE by taking over its Amsterdam-listed investment fund KKR Private Equity Investors LP. According to the Associated Press, KKR principals will hold 79 percent of the combined company and KKR Private Equity shareholders will own 21 percent, though no cash is set to change hands. The transaction is expected to be completed in the fourth quarter.

  • Motorola (MOT) is separating its home and networks mobility unit, the second largest of the company, into three different businesses. This is seen as a move to make it easier to sell some of its parts down the road. The unit had revenues of $2.4 billion in the first quarter. When the company reports on Thursday, it is expected to announce a split of the company, making its cell phone business, which has struggled, a separate entity.

  • Sirius Satellite Radio's (SIRI) purchase of XM Satellite Radio (XMSR) received FCC approval by a 3-2 vote on Friday. In order to sway Republican Commissioner Deborah Taylor Tate's vote, the companies voluntarily agreed to pay a combined $19.7 million in fines to settle several FCC rule violations, including locating towers in unapproved locations and selling radios that exceeded power limits, reported The Wall Street Journal.

  • Toyota (TM) lowered guidance on its 2008 global sales target to 9.5 million vehicles from 9.85 million. The company cited slowing numbers in the North American market. The figure remains above total sales from 2007, which was 9.37 million vehicles. In the US alone, the new sales estimate is down to 2.44 million from 2.64 million. Strong sales in China, the Middle East and other markets helped maintain global growth estimates.


Market Recap

  • Asian trading closed with the Hang Seng -0.24%, Nikkei +0.14%, Sensex +0.52%, Taiwan unchanged and Shanghai +1.32%.

  • A quick check across the pond finds the CAC -1.24%, DAX -0.94%, FTSE -0.24%, ATX -0.19%, Swiss Market -0.25% and Stockholm -0.44%.

  • In commodities, crude oil is trading up +1.71 to 124.94 and gold is also higher +3.8 to 930.6 this morning.
No positions in stocks mentioned.

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