Word of the Day

Exchange-Traded Fund

In the wide and varied family of the thousands and thousands of funds out there, the exchange-traded fund is one of the more consumer-friendly ones.

Unlike mutual funds, exchange-traded funds, or ETFs, behave more like stocks. You can buy into an ETF at any time, and sell it whenever you feel like it. And like a stock, an ETF's value can rise and fall--depending on what the ETF is invested in.What do ETFs invest in? Well, they're typically linked to an index like the Dow Jones Industrial Average or the S&P 500. So, if you had an ETF that trades the same companies that make up the Dow or the S&P, it will rise and fall in value pretty much the same amount as the Dow or S&P.

You can also buy ETFs that invest in other types of products, like bonds, currencies, gold or other commodities. The ETF market has grown considerably in the past few years, so there is no shortage of ETFs to invest in.

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Wednesday, May 14, 2008

Stocks In Focus For Thursday

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MarketWatch

SAN FRANCISCO -- Among the companies whose shares are expected to see active trade in Thursday's session are Hewlett-Packard, Blackstone Group, Nordstrom and Blockbuster.

Hewlett-Packard (HPQ) is forecast to report second-quarter earnings of 85 cents a share, according to analysts surveyed by FactSet Research.

The Blackstone Group (BX) is projected to post earnings of 13 cents a share in the first quarter, according to analysts surveyed by FactSet Research.

Nordstrom (JWN) is expected to report first-quarter earnings of 50 cents a share, according to analysts surveyed by FactSet Research.

Blockbuster Inc. (BBI) is likely to post earnings of 16 cents a share in the first quarter, according to analysts surveyed by FactSet Research.

Analysts surveyed by Thomson Reuters estimated Autodesk (ADSK) to report earnings of 48 cents a share in the first quarter.

J.C. Penney (JCP) is projected to post first-quarter earnings of 49 cents a share, according to analysts polled by Thomson Reuters.

Kohl's (KSS) is likely to post earnings of 45 cents a share in the first quarter, according to analysts surveyed by FactSet Research.

Compuware Corp. (CPWR) is expected to post fiscal fourth-quarter earnings of 20 cents a share, according to analysts surveyed by FactSet Research.

Urban Outfitters (URBN) is forecast to post first-quarter earnings of 23 cents a share, according to analysts surveyed by FactSet Research.

BMC Software (BMC) is likely to report earnings of 48 cents a share in the fiscal fourth-quarter, according to analysts surveyed by FactSet Research.

Carl Icahn has decided to press ahead with a proxy fight to replace Yahoo Inc.'s (YHOO) current board of directors, according to a report from Reuters after the closing bell. Icahn had been expected to make a decision on mounting a proxy fight after accumulating roughly 50 million Yahoo shares. Icahn and other Yahoo investors face a deadline of Thursday to offer an alternative slate of directors for Yahoo, who could then push the Internet company to resume failed merger negotiations with Microsoft (MSFT) . See full story

Watch list

Agilent Technologies Inc. (A) reported its fiscal second-quarter net income rose to $173 million, or 47 cents a share, from $123 million, or 30 cents a share, a year earlier. Revenue increased to $1.46 billion from $1.32 billion. Analysts had forecast earnings of 46 cents a share on revenue of $1.43 billion. Agilent expects fiscal third-quarter adjusted net income of 52 cents to 56 cents a share on revenue of $1.44 billion to $1.49 billion.

Moody's Investors Service revised the outlook for Alaska Air Group (ALK) and its subsidiary Alaska Airlines Inc. to negative from stable and affirmed the companies' corporate family rating of B1. "The negative outlook reflects Moody's expectation that Alaska will record a net loss and negative cash flow from operations in 2008 due to the impact of materially higher fuel costs and weakening economic conditions which are likely to pressure yields," said Moody's in a statement.

Brocade Communications Systems Inc. (BRCD) said its fiscal second-quarter profit rose to $184.8 million, or 47 cents a share, from $800,000, or break even a share, in the year-ago period. Revenue rose to $354.9 million from $345.3 million last year. Analysts had estimated a quarterly profit of 13 cents a share on revenue of $347.3 million.

Citigroup (C) named Deborah Hopkins to the new position of chief innovation officer, effective immediately. The new position will combine strategy, information technology and research and development to drive cross-business, client-focused innovation across the company, according to Citi.

General Electric Co. (GE) plans an auction to sell its appliances business, which would effectively end the company's involvement with appliances, the Wall Street Journal reported. GE has hired Goldman Sachs Group to run an auction for the appliances unit, which could fetch between $5 billion and $8 billion. See full story

Microsoft Corp. (MSFT) said U.S. sales of Xbox 360 video game system have topped 10 million units since its launch. Worldwide, the system has sold more than 19 million units, the company said. Microsoft also said its Xbox LIVE online gaming service has doubled its membership in one year to 12 million subscribers.

Prudential Financial Inc. (PRU) named Chief Executive John Strangfeld to succeed Arthur Ryan as chairman after Tuesday's annual shareholders' meeting. Prudential also said preliminary voting results indicated shareholders approved the board's slate of directors.