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December 01, 2008
Stocks to Watch

General Motors (GM) announced that top officials, trying to avert a bankruptcy-law filing by the Detroit auto giant, are developing a plan under which debt holders would swap their securities for equities. 

 

Bankrate (RATE) traded higher after analysts at Citigroup upgraded the shares to buy, and set a $40 price target.

 

Citigroup (C) working to stabilize itself after a U.S. federal rescue plan and plans to auction off its custodian administration unit in Japan.

 

Freddie Mac (FRE) plans to launch a $1 billion reopening of its 4.125% five-year U.S. dollar reference notes, maturing in September 2013. 

 

Mesa Air Group (MESA) settled a lawsuit with the former controlling shareholder of Aloha Airlines.

 

Trump Entertainment (TRMP) said it wouldn't make a $53.1 million interest payment due today on its 8.5% senior secured notes.

 

Delta Air Lines (DAL) plans to change orders that it and Northwest Airlines placed with Boeing. 

 

Qimonda AG (QI) expects to report that its fiscal fourth-quarter net loss widened from the third quarter.



December 01, 2008
Scheduled Earnings Reports (Tuesday)

Sears Holding Corp, Staples, America's Car Mart, Isle of Capri Casinos, Beazer Homes, Marvell Technology, OmniVision Technologies, Shoe Pavilion, Beacon Roofing Supply



December 01, 2008
In Earnings News

Pilgrim's Pride Inc. (PPC) said it expects to post fourth-quarter losses on feed ingredient derivative contracts of about $96.9 million, or $1.31 per share. On average, analyst forecast a quarterly loss of $2.06 per share on revenue of $2.05 billion.

 

UnitedHealth Group (UNH) raised the lower end of its 2009 revenue forecast, although it maintained its profit outlook for next year.  The company projected revenue of $85 billion to $86 billion next year. In October, it forecast $84 billion to $86 billion.

 

Inergy, L.P. (NRGY) and Inergy Holdings, L.P. (NRGP) each reported record results of operations for the fiscal fourth quarter and year ended September 30th.  Inergy, L.P. reported earnings of $239 million for the year ended September 30th, an increase of $27.8 million, or approximately 13.2% from $211.2 million in the year ago period.

 




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