Stocks to Watch IV: GE, Xerox, Morgan Stanley and More

Stocks to Watch IV: GE, Xerox, Morgan Stanley and More

  • Posted Thursday, April 21, 2011 -
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Some stocks to watch this morning, courtesy of our friends at Dow Jones.

Apple's fiscal second-quarter profit jumped 95% as the company posted record iPhone sales, as well as strong sales of its multimedia iPad tablet computers and Macintosh computers. Shares rose 4.7% to $358.50 in pre-market trading.

General Electric's first-quarter earnings rose 77%, blowing past analysts' estimates, helped by marked improvement at the company's GE Capital business, as the conglomerate's revenue rose. The company also boosted its quarterly dividend by a penny to 15 cents. Shares gained 2.9% to $21 in pre-market trading.

Morgan Stanley's first-quarter profit fell 45% as revenue slid and its 40% interest in a joint venture with Mitsubishi UFJ Financial Group Inc. weighed on results. Shares rose 3.6% to $26.98 in recent premarket trading as earnings beat Wall Street's estimates, though revenue fell short of estimates.

Xerox Corp. swung to a first-quarter profit, while revenue jumped 16% as the company continued to see benefits in its services business related to its acquisition of Affiliated Computer Services Inc. Shares edged up 0.7% to $10.92 premarket.

Biogen Idec Inc.'s first-quarter profits rose 35% on growth of its multiple sclerosis drug portfolio, along with lower costs in the period, as it gave important new data on its oral MS treatment. Biogen said the drug cut MS relapses 49% after two years, compared to placebo, with an annual relapse reduction rate of 53%. It also reduced the progression of disability by 38%. In comparison, Teva Pharmaceutical Industries Ltd. (TEVA) last week said its oral MS drug reduced the annual relapse rate by 23% and disability progression fell 36%. Biogen's shares surged 21% to $104.68 in pre-market trading while Teva's American depositary shares fell 8.1% to $45.21.

TradeStation Group Inc. said it will be acquired by Toyko-based online securities brokerage Monex Group Inc. for about $411 million. Under the terms of the agreement, Monex will pay $9.75 for each TradeStation share, a premium of 32% above Wednesday's closing price. TradeStation's sahres surged 31% to $9.68 in pre-market trading.

China Security & Surveillance Technology Inc. shares surged 18% to $5.71 premarket Thursday after the electronic surveillance and safety products company entered a merger pact valuing the company at about $581 million.

UnitedHealth Group Inc.'s first-quarter earnings rose 13%, beating analysts' estimates, as the company's revenue increased in better demand. The company also raised its current-year forecast. Shares rose 4.5% to $46.25 in pre-market trading.

DuPont Co.'s first-quarter profit rose 27% on sharply higher revenue, with results handily topping analysts' expectations amid broad-based demand strength. The diversified manufacturing and science company also raised its current-year earnings forecast. Shares rose 2.9% to $57.

Weatherford International Ltd. swung to a first-quarter profit as strong growth at the oil-services company's North American operations offset weakness at its international segments, where operating earnings declined on political unrest in the Middle East and North Africa and weakness in Latin America. Shares were down 3.2% to $20.46 in recent premarket trading.

CNA Financial Corp. has agreed to acquire the remaining stake in CNA Surety Corp. for a raised price that values the target at $1.19 billion. CNA Surety shares rose 2.2% to $26.40 in recent premarket trading, compared with the $26.55 offer price.

Penn National Gaming Inc.'s first-quarter earnings rose 42%, topping its own guidance, as revenue grew more than expected and its chief executive said the company is seeing a stabilization of consumer spending across its businesses. Shares rose 3.7% to $38.71 premarket.

Patriot Coal Corp. swung to a first-quarter loss from a year-earlier period helped by higher asset-related gains and sales contract accretion, as costs surged and revenue climbed. Shares slumped 2.8% to $23.85 premarket.

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