HEADLINE STOCKS-Some U.S. stocks to watch on Feb. 25
NEW YORK, Feb 25 (Reuters) - Some U.S. stocks to watch on
Wednesday:
FORD MOTOR CO
The United Auto Workers Union late Tuesday urged members to
approve a concessionary deal with Ford as part of a plan for
the company to restructure without having to resort to
emergency loans from the U.S. government. The UAW hopes to
complete the voting by March 9. For more see [nN24442059].
The deal includes cuts of 30 percent in pay for
white-collar workers, including elimination of performance
bonuses for salaried employees and senior executives in 2009.
Shares of Ford rose 15 cents to $2.15 in premarket trade.
SPX CORP
The seller of heavy equipment used in power plants swung to
a fourth-quarter net loss and forecast difficult trends
throughout the year, though revenue was up 17 percent from the
prior year. [nBNG392293]
Shares of SPX closed Tuesday at $42.27.
DISCOVERY COMMUNICATIONS
The media company reported fourth-quarter earnings and
revenue that missed expectations and gave a full-year revenue
outlook that was below consensus. [nWNAB6633]
Shares of Discovery closed Tuesday at $13.26.
AMERICAN INTERNATIONAL GROUP
Three potential bidders remain interested in buying a large
stake in AIG's $20 billion Asian life insurance unit, sources
close to the matter said, though hopes for the auction have
faded as some potential buyers have dropped out because of
worsening economic conditions. [nHKG67567]
Shares of AIG rose 2 cents to 43 cents before the bell.
CITIGROUP
The bank may sell both its Japanese investment bank and
brokerage, as it looks to raise cash from a sale of global
assets, media report said. A sale of the units could raise
several billion dollars, the Jiji Press and Sankei newspaper
said. Sources added that the retail brokerage division alone
could possibly raising $3.1 billion, though selling it is not
in Citigroup's plans. [nSP464240]
Shares of Citigroup slid 10 cents to $2.50 in premarket
trade on Wednesday.
DREAMWORKS ANIMATION SKG
The movie studio reported fourth-quarter earnings that were
fall below expectations, hurt by a weaker DVD market and tough
comparisons to its prior year, when its "Shrek the Third" DVD
was released. [nN24412388]
Shares of the company closed Tuesday at $19.76.
WYNN RESORTS
MELCO CROWN ENTERTAINMENT
The casino operators late Tuesday reported fourth-quarter
losses, hurt as the recession weighed on their businesses in
Macau and Las Vegas. Wynn's results were worse than expected,
sending the stock down 15 percent to $22 in premarket trade.
Melco Crown shares closed on Nasdaq at $3.20 on Tuesday.
HERBALIFE LTD
Dietary supplement distributor Herbalife Ltd's quarterly
per-share earnings missed market estimates by a cent, hurt by
foreign currency fluctuations and declining sales in the
company's top markets and also forecast first-quarter earnings
below market expectations. [ID: nBNG179388]
Shares of the company were down more than 7 percent at
$16.93 in trading after the bell. They had closed at $18.33
Tuesday on the New York Stock Exchange.
GUIDANCE SOFTWARE INC
Digital investigation software provider Guidance Software
Inc reported a better-than-expected quarterly profit, helped by
higher product revenue, sending its shares up 29 percent after
the bell. [nBNG421845]
Shares of the Pasadena, California-based company were
trading at $3.65 after the bell. They closed at $2.82 Tuesday
on Nasdaq.
FCSTONE GROUP INC
FCStone Group plunged more than 60 percent in post-market
trading Tuesday, after the commodity risk management firm said
it may need to set aside more money to meet losses stemming
from an energy trading account. [nBNG132277]
Shares of the Kansas City, Missouri-based company were
trading at $1.81 before the bell, having closed at $3.97
Tuesday on Nasdaq.
CARTER'S INC
Children's clothing retailer Carter's Inc reported
better-than-expected fourth-quarter results as strong retail
sales of its namesake and OshKosh labels helped offset weakness
in the wholesale segment, sending its shares up as much as 5
percent. [nBNG223411]
Shares of the company were up at $15.10 in trading after
the bell. They had closed at $14.42 Tuesday on the New York
Stock Exchange.
(Reporting by Ryan Vlastelica; Editing by James Dalgleish)
((ryan.vlastelica@thomsonreuters.com; Tel: +1 646-223-6014;
Reuters Messaging: ryan.vlastelica@reuters.com@reuters.net))
Keywords: MARKETS STOCKS HEADLINES
Keywords: MARKETS STOCKS HEADLINES
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