Feb 21 (Reuters) – Some U.S. stocks to watch on Thursday:
U.S. STOCK INDEX FUTURES SIGNAL LOWER START
U.S. stock index futures pointed to a lower open on Wall
Street on Thursday, with the S&P; 500 index poised to
extend losses after its biggest daily fall in three months in
the previous session. Futures for the S&P; 500, the Dow
Jones and the Nasdaq 100 were down 0.3 percent to
0.4 percent at 0941 GMT.
** WAL-MART STORES INC, Wednesday close $69.21
Wal-Mart posted a higher quarterly profit and raised its
dividend payout on Thursday, as efforts such as extending its
layaway program and matching competitors’ prices attracted
shoppers during the competitive holiday season.
** LINN ENERGY LLC, Wednesday close $36.65
** BERRY PETROLEUM CO, Wednesday close $38.59, up 8
pct premarket
Oil and gas producer Linn Energy said it would buy Berry
Petroleum in an all-stock deal valued at $4.3 billion including
debt, giving it more exposure to lucrative liquids that will
help it raise production by 30 percent.
** APPLE INC, Wednesday close $448.85
Hedge fund manager David Einhorn, who is battling Apple in
court as part of a wider effort to get the iPhone-maker to share
more of its cash pile, will now make a direct appeal to the
company’s shareholders. He will host a conference call on
Thursday to argue the merits of distributing perpetual preferred
stock.
In another development, Apple’s manufacturing partner
Foxconn Technology Group has frozen hiring at a Shenzhen plant
that makes gadgets including the iPhone 5 and put the brakes on
recruiting for other factories across China, but said the move
was not linked to any single client. Foxconn’s high-profile
customers also include Dell Inc and Hewlett-Packard Co
.
** VERIFONE SYSTEMS INC, Wednesday close $31.89
The credit card swipe machine maker VeriFone Systems Inc
forecast a current-quarter profit well below analysts’
expectations after estimating weak first-quarter results.
** MICROSOFT CORP, Wednesday close $27.87
Sony Corp said it will launch its next-generation
PlayStation this year, hoping its first video game console in
seven years will give it a much-needed head start over the next
version of Microsoft’s Xbox and help revive its stumbling
electronics business.
** INTERNATIONAL BUSINESS MACHINES, Wednesday close
$199.31
IBM unveiled its expanded mobile strategy on Thursday in an
effort to gain an advantage over rivals amid a proliferation of
devices such as smartphones and tablets.
** MACY’S INC, Wednesday close $39.51
** J.C. PENNEY CO INC, Wednesday close $20.19
** MARTHA STEWART LIVING OMNIMEDIA, Wednesday close
$2.97
A lawyer for Macy’s told a judge on Wednesday that rival
J.C. Penney and Martha Stewart schemed to develop a partnership
that ran afoul of Macy’s contract with the home goods doyenne.
** CITIGROUP INC, Wednesday close $43.22
Citigroup Chairman Michael O’Neill is not eager to explore a
breakup of the third-largest U.S. bank, the Wall Street Journal
reported, citing people familiar with the matter.
** BOEING CO, Wednesday close $74.78
A senior Boeing executive will meet with the head of the
U.S. Federal Aviation Administration on Friday and present a
series of measures aimed at preventing battery failures that
grounded its 787 Dreamliner fleet for five weeks, according to a
source familiar with the plans.
** JPMORGAN CHASE & CO, Wednesday close $48.61
The U.S. Justice Department is investigating JPMorgan Chase
over allegations that Bear Stearns provided misleading
information about its mortgage products during the lead-up to
the financial crisis, according to people familiar with the
matter.
** CHESAPEAKE ENERGY CORP, Wednesday close $20.24
Chesapeake said on Wednesday its internal investigation of
the financial dealings of outgoing chief executive Aubrey
McClendon found no “intentional” wrongdoing, but authorities and
analysts said the issue was far from over.
The company is expected to report its fourth-quarter results
on Thursday. Chesapeake, the second-largest U.S. producer of
natural gas, is selling assets from energy fields to real estate
to fill a funding gap. It made sweeping governance changes last
year following a series of Reuters investigations that found CEO
Aubrey McClendon frequently blurred the line between his
personal financial dealings and that of the company.
** BANK OF AMERICA, Wednesday close $11.80
Bank of America’s CEO Brian Moynihan was awarded a 73
percent pay increase in 2012, when the institution resolved
crisis-era lawsuits and its stock was one of the sector’s top
performers.
** CHEVRON CORP, Wednesday close $114.99
** TRANSOCEAN LTD, Wednesday close $54.32
A Brazilian judge dropped criminal charges against Chevron,
Transocean and 17 of their employees related to a November 2011
offshore oil spill, the companies said on Wednesday.
** THE NEW YORK TIMES CO, Wednesday close $9.03
The New York Times is putting The Boston Globe on the
auction block for a second time as it seeks to focuses solely on
growing its flagship newspaper, the company said on Wednesday.
** DOW CHEMICAL CO, Wednesday close $31.64
A federal jury has ordered Dow Chemical to pay $400 million
in a price-fixing case involving chemicals used to make foam
products in cars, furniture and packaging, according to court
documents.
** WALT DISNEY CO, Wednesday close $54.60
BSkyB has extended its 24-year relationship with Walt Disney
to create a new television channel which will show Disney films
in Britain and Ireland.
** KELLOGG CO, Wednesday close $59.77
Kellogg said 36,000 packages of its Special K Red Berries
cereal could contain dangerous glass fragments and have been
pulled from the market, the latest in a series of recalls of its
popular brands.
** CHEESECAKE FACTORY INC, Wednesday close $33.10
The restaurant chain forecast a current-quarter profit
largely below analysts’ estimates after reporting
weaker-than-expected results for the last quarter, sending its
shares down more than 3 percent after the bell.
** TESLA MOTORS INC, Wednesday close $38.54
Tesla said it expects to realize its first profit in the
first quarter of 2013, after posting a net loss of $89.9 million
in the fourth quarter.
** HERBALIFE LTD, Wednesday close $37.78
Herbalife said it will more clearly identify different types
of customers, responding to criticism from investors including
hedge fund manager William Ackman, and added it has held “short”
discussions with billionaire investor Carl Icahn.
** IAMGOLD CORP, Wednesday close $7.42
Iamgold reported a 37 percent decrease in quarterly net
profit on Wednesday due to lower metal prices and lower sales
volumes.
** FLUOR CORP, Wednesday close $64.34
The engineering company on Wednesday reported
slower-than-expected revenue growth and a quarterly loss due to
a $265 million charge for the Greater Gabbard wind project off
the coast of Britain.
** MGM RESORTS INTERNATIONAL, Wednesday close $12.54
The casino operator reported a wider fourth-quarter loss on
impairment charges on Wednesday, and as growth in its Chinese
unit slowed from red-hot levels of a year ago.
** CONOCOPHILLIPS, Wednesday close $57.67
ConocoPhillips said it will sell some of its stake in two
Western Australia exploration assets to Asia’s largest oil
producer PetroChina Co Ltd.
** LOCKHEED MARTIN CORP, Wednesday close $87.73
Lockheed Martin has agreed to pay $19.5 million to settle a
securities fraud class-action lawsuit accusing the company of
misleading investors about the prospects for its information
technology division, according to court papers.
** ZALE CORP, Wednesday close $4.37
Zale will report holiday quarter results, numbers that will
show whether the moderate-price jeweler is indeed on the path to
returning to profitability this year after holiday numbers that
disappointed Wall Street. The company should also provide a
sense of how business held up in the Valentine’s Day season.
** SAFEWAY INC, Wednesday close $20.13
Higher earnings are expected from Safeway, the second
largest U.S. supermarket chain, which has been losing ground to
grocery operators ranging from Kroger to Whole Foods and is
under pressure to improve results.
** HORMEL FOODS CORP, Wednesday close $36.12
The maker of Spam canned ham reported a quarterly profit,
helped by strong sales in its grocery business.
** FIRST AMERICAN FINANCIAL CORP, Wednesday close
$24.54
First American’s quarterly profit more than doubled on
strong growth and improved margins at its core title insurance
business.
** AZZ INC, Wednesday close $44.35
The electrical equipment manufacturer cut its earnings
forecast for the year to Feb. 28, citing delays in the delivery
of its electrical and industrial products.
The company, which also provides hot dip galvanizing
services to the steel fabrication market, said a
higher-than-expected slowdown at its galvanizing business would
also hurt results. Hot dip galvanizing is a process in which
molten zinc is applied to fabricated steel to protect against
corrosion.
AZZ said it expects earnings in the range of $2.30 to $2.35
per share for the full year, below the $2.35 to $2.45 it
forecast earlier. The company also cut its revenue forecast to a
range of $570 million to $575 million from $575 million to $585
million.
** COEUR D’ALENE MINES CORP, Wednesday close $18.81
The largest U.S.-based primary silver producer’s profit will
likely beat Wall Street estimates, according to StarMine
analysts. Higher silver prices will help lift the company’s
profits.
** PLURISTEM THERAPEUTICS INC, Wednesday close
$3.33
The placenta-based cell therapy maker said its experimental
anemia treatment, named PLacental eXpanded, received orphan
designation from U.S. health regulators. The designation would
give the company marketing exclusivity of seven years from the
approval date of the drug.
** DANA HOLDING CORP, Wednesday close $16.62
The auto parts supplier’s quarterly profit rose, but revenue
fell as demand remained weak.
(Compiled by Chandni Doulatramani)
