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Thursday, September 10, 2009
Stocks In Focus For Friday
By MarketWatch
MarketWatch
SAN FRANCISCO - Among the stocks that might make notable moves on Friday are Campbell Soup Co., Abbott Laboratories and Pericom Semiconductor Corp.
Aceto Corp. (ACET) is projected to post fiscal fourth-quarter earnings of 11 cents a share, according to analysts surveyed by Thomson Reuters.
Campbell Soup Co. (CPB) is expected to post fiscal fourth-quarter earnings of 26 cents a share.
Frequency Electronics Inc. (FEIM) is forecast to post a fiscal first-quarter loss of 4 cents a share.
Immersion Corp. (IMMR) is expected to post a second-quarter loss of 26 cents a share.
Pericom Semiconductor Corp. (PSEM) is forecast to post fiscal fourth-quarter earnings of 3 cents a share.
After Thursday's bell, Abbott Laboratories (ABT) said it will acquire the 90% of Evalve Inc. it does not already own for $320 million in cash. Evalve makes devices used to repair heart valves in a minimally invasive manner. Abbott said it will also pay an additional $90 million if certain regulatory milestones are met. Abbot expects the transaction to close in the fourth quarter.
Watch List
General Mills Inc. (GIS) said Thursday its profit for its just-ended quarter came in ahead of its internal target, helped by lower food-ingredient and manufacturing costs compared to last year, while sales matched its expectations. Also, the company plans to increase spending on media advertisements by double-digits over the next 12 months to promote its cereals and snacks.
Motorola Inc. (MOT) lifted the wraps on a new smart phone Thursday that the company hopes will lead its turnaround effort and better compete in a marketplace dominated by well-known rivals such as the iPhone and the BlackBerry.
Morgan Stanley (MS) said Thursday that its chief executive, John Mack, will turn over the title to co-president, James Gorman, at the start of next year. Mack will remain chairman of the firm, and London-based co-President Walid Chammah will become chairman of Morgan Stanley International.
National Semiconductor Corp. (NSM) forecast second-quarter sales to rise roughly 3% to 8% sequentially, or a range of about $325 million to $340 million on Thursday. Analysts polled by FactSet Research currently expect the company to report sales of $316.4 million. The company said its first-quarter net earnings dropped to $29.8 million, or 13 cents a share, on a 32% fall in revenue.
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