Bridgestone (BRDCY: OTC ADR)
Bridgestone fell almost 10% in Tokyo trading after
US regulators recalled millions of Firestone tires as
part of their investigation in many fatal crashes.
Bridgestone expects to post a loss of $350 million
for the year because of the recall.
Eli Lilly (LLY: NYSE) and Barr Laboratories
(BRL: NYSE)
Keep an eye on Eli Lilly Thursday after a US
appeals court ended its run as the exclusive
marketer of the antidepressant drug Prozac. Eli
Lilly had enjoyed patent protection until 2003. Barr
Laboratories is expected to hit the market with a
generic version of the drug in August 2001. Eli Lilly
stock plunged more than 30% on that news. Barr
gained 68%.
Wal-Mart (WMT: NYSE)
Wal-Mart remains in the headlines Thursday after
the company posted record second-quarter
earnings Wednesday. Income came in at 36 cents
a share after 28 cents a share in the year-ago
period, broadly in line with expectations. But at
the same time, the company issued a profit
warning for the third and fourth quarters. Wal-Mart
now expects to post income of 31 cents a share.
The company had earlier expected to post income
of 33 cents a share.
Applied Materials (AMAT: Nasdaq)
Applied Materials may climb Thursday after results
announced after the bell Wednesday came in
ahead of Wall Street expectations. Third-quarter
earnings hit 70 cents a share after 31 cents a
share in the year-earlier period. Analysts had been
looking for 68 cents a share. The company
attributes the strong showing to robust demand
for semiconductors. For the fourth quarter, Applied
Materials expects income of 73 cents to 75 cents
a share.
K-tel International (KTEL: Nasdaq)
K-tel International has been told it no longer fits
the bill for a Nasdaq listing. Nasdaq requires a
minimum market capitalization of $50 million. Due
to poor sales, K-tel's capitalization has slumped to
$19 million. K-tel says it will apply to list on the
Nasdaq SmallCap Market.
Immunex (IMNX: Nasdaq) and American Home
Products (AHP: NYSE)
Immunex and American Home Products will be in
the spotlight Thursday after Immunex unveiled
plans to sell some 70% of its stock. At the same
time the company said parent AHP would see its
stake in the company slashed. That stake will likely
fall from around 55% to some 43%.
Starbucks (SBUX: Nasdaq)
Starbucks is garnering attention after it raised the
price of a cup of coffee in the US and Canada. The
price of drip coffee, espresso and blended
beverages will go up some seven cents a cup. The
price hike is the first in 15 months. Starbucks says
the increase is due to rising operational costs.
Six Flags (PKS: NYSE)
Six Flags may be under pressure Thursday after
the theme-park operator reported results below
expectations. Second-quarter earnings came in at
12 cents a share after 15 cents a share in the
year-earlier period. Analysts had been looking for
20 cents a share.
Informix (IFMX: Nasdaq)
Watch Informix Thursday after the Internet
software company announced a wide-scale
restructuring, designed to save the company
between $70 million and $80 million a year.
NetZero (NZRO: Nasdaq)
Keep an eye on free ISP NetZero Thursday after
the company posted a smaller-than-expected loss
after the close Wednesday. That fourth-quarter
loss came in at 26 cents a share after a loss of 72
cents a share in the year-earlier period. Analysts
had been looking for a loss of 29 cents a share.
Winn-Dixie Stores (WIN: NYSE)
Winn-Dixie Stores may be under pressure Thursday
after posting disappointing earnings after the bell
Wednesday. Fourth-quarter earnings came in at 14
cents a share after 52 cents a share in the
year-earlier period.
