Stocks in focus for Tuesday: Walt Disney, Cisco, Fannie Mae

May.05, 2008 in Market Outlook

SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to
see active trade in Tuesday’s session are Walt Disney Co., Cisco Systems Inc.,
and Fannie Mae.

Walt Disney Co. (DIS) is expected to report fiscal second-quarter earnings of 51
cents a share, according to analysts surveyed by FactSet Research.

Cisco Systems Inc. (CSCO) is forecast to post earnings of 36 cents a share
excluding stock option costs in the fiscal third quarter, according to analysts
surveyed by FactSet Research.

Fannie Mae (FNM) is estimated to report loss of 81 cents a share in the first
quarter, according to analysts surveyed by FactSet Research.

MetroPCS Communications Inc. (PCS) is expected to report earnings of 14 cents a
share in the first quarter, according to analysts surveyed by FactSet Research.

Qwest Communications International Inc. (Q) is projected to post a first-quarter
profit of 10 cents a share, according to analysts surveyed by FactSet Research.

MGM Mirage (MGM) is likely to report a first-quarter profit of 44 cents a share,
according to analysts surveyed by FactSet Research.

Molson Coors Brewing Co. (TAP) is expected to report first-quarter earnings of 25
cents a share, according to analysts surveyed by FactSet Research.

Sara Lee Corp.(SLE) is forecast to post earnings of 24 cents a share in its
fiscal third quarter, according to analysts surveyed by FactSet Research.

Barrick Gold Corp. (ABX) is estimated to report a profit of 59 cents a share in
the first quarter, according to analysts surveyed by FactSet Research.

Corrections Corp. of America (CXW) is projected to post a first-quarter profit of
28 cents a share, according to analysts surveyed by FactSet Research.

D.R. Horton Inc. (DHI) is expected to report a fiscal second-quarter loss of 40
cents a share, according to analysts surveyed by FactSet Research.

Estee Lauder Cos. (EL) is likely to report fiscal third-quarter earnings of 48
cents a share, according to analysts surveyed by FactSet Research.

Emerson Electric Co. (EMR) is forecast to post earnings of 71 cents a share in
the fiscal second quarter, according to analysts surveyed by FactSet Research.

Martin Marietta Materials Inc. (MLM) is estimated to report a profit of 67 cents
a share in the first quarter, according to analysts surveyed by FactSet Research.

NYSE Euronext (NYX) is forecast to post earnings of 81 cents a share in the first
quarter, according to analysts surveyed by FactSet Research.

Precision Castparts Corp. (PCP) is expected to report a first-quarter profit of
$1.88 a share, according to analysts surveyed by FactSet Research.

PG&E Corp. (PCG) is projected to post a profit of 68 cents a share in the first
quarter, according to analysts surveyed by FactSet Research.

Spectra Energy Corp. (SE) is estimated to report a profit of 46 cents a share in
the first quarter, according to analysts surveyed by FactSet Research.

OSI Pharmaceuticals Inc. (OSIP) is forecast to post earnings of 46 cents a share,
according to analysts surveyed by FactSet Research.

Pitney Bowes Inc. (PBI) is likely to report a first-quarter profit of 65 cents a
share, according to analysts surveyed by FactSet Research.

Tesoro Corp. (TSO) is estimated to report a loss of 49 cents a share in the first
quarter, according to analysts polled by Thomson Financial.

Perrigo Co. (PRGO) is estimated to post a fiscal third-quarter profit of 41 cents
a share, according to analysts surveyed by FactSet Research.

Public Service Enterprise Group Inc. (PEG) is expected to post a first-quarter
profit of 73 cents a share, according to analysts surveyed by FactSet Research.

After Monday’s closing bell, McKesson Corp. (MCK) said fourth-quarter net income
was $307 million, or $1.05 a share, compared with $257 million, or 85 cents a
share, last year. Sales for the San Francisco-based drug distributor were $26.2
billion compared with last year’s $24.2 billion. Analysts polled by FactSet
Research had expected the company would earn $1 a share for the quarter. The
company said it expects earnings of $3.75 to $3.90 a share for fiscal 2009. The
FactSet estimate was for $3.78 a share. See full story
Click for Detail

Watch list

Abbott Laboratories (ABT) had its rating outlook changed to stable from negative
by Moody’s Investors Service. The improved outlook is due to Moody’s expectation
that Abbott will generate stronger cash flow in 2008.

Airgas Inc. (ARG) said its fiscal fourth-quarter profit rose to $64.2 million, or
76 cents a share, from $43.7 million, or 54 cents a share, in the year-ago
period. Revenue rose to $1.09 billion from $853.9 million last year. Analysts
surveyed by FactSet Research estimated a quarterly profit of 73 cents a share on
revenue of $1.07 billion. The company forecast fiscal first-quarter earnings of
79 cents to 81 cents a share, and full-year earnings of $3.24 to $3.40. Analysts
expect earnings of 73 cents a share in the first quarter, and $3.10 a share for
fiscal 2009.

Anadarko Petroleum Corp. (APC) said first-quarter net income fell to $286
million, or 61 cents a share, compared with $1.72 billion, or $3.70 a share, a
year ago. Excluding $440 million of one-time items, first-quarter income from
continuing operations totaled $237 million, or 50 cents a share. Results from the
year-ago quarter were inflated by nearly $1.7 billion in gains from asset sales.
Revenue for the three months ended March 31 fell to $2.98 billion from $5.25
billion. Analysts polled by FactSet had predicted the Houston-based oil and gas
producer would earn $1.20 a share on $3.08 billion in revenue.

Forest Oil Corp. (FST) swung to a first-quarter net loss of $4.73 million, or 5
cents a share, from a profit of $6.89 million, or 11 cents a share, a year ago.
Excluding losses of $152.1 million, or $97.4 million net of tax, from foreign
currency exchange and recording derivative instruments, Forest Oil posted income
of $92.7 million, or $1.06 a share, up from $38.4 million, or 62 cents a share.
The Denver natural gas and oil company’s revenue increased to $376.5 million from
$182.6 million. On average, analysts polled by Thomson Financial expected
per-share earnings of 88 cents on revenue of $354.8 million.

JPMorgan Chase & Co. (JPM) said it will buy an undivided stake in Target Corp.’s
(TGT) credit card receivables for $3.6 billion in cash. The New York financial
services company said the deal for about 47% of Target’s outstanding receivables
should close by the end of May. See full story
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LDK Solar Co. (LDK) said that it has signed a five-year agreement to supply
multicrystalline solar wafers to German chip maker Qimonda AG or to Qimonda’s
joint venture with Centrosolar.

Merck & Co. (MRK) said late Monday it will cut U.S. sales force by 1,200
positions. The company said it will begin alerting affected employees by the end
of May, with the cuts completed by the end of July.

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