Stocks To Keep Your Eye On - 08/27/2007

Aluminum Corp. of China American depositary receipts (ACH) rose $13.48, or 25 percent, to $67.50 in trading before U.S. exchanges opened. The nation's biggest producer of aluminum followed gains in the Hong Kong stock and Shanghai stock after last week the company said it will boost acquisitions and its parent will buy 49 percent of Yunnan Copper Industry Co.

Chevron Corp. (CVX) The second-biggest U.S. oil producer said it may cancel some crude shipments or re-route them to other refineries after the company's Pascagoula, Mississippi, plant was damaged by a fire last week. Chevron rose $1.74, or 2 percent, to $87.22 in regular trading on Aug. 24.

Gateway Inc. (GTW) rose 62 cents, or 51 percent, to $1.83 in trading before U.S. exchanges opened. Acer Inc. agreed to acquire Gateway for $710 million to overtake Lenovo Group Ltd. as the world's third-biggest maker of personal computers. Acer will pay $1.90 a share for Gateway, a 57 percent premium over the closing price of $1.21 on Aug. 24.

Home Depot Inc. (HD) rose 72 cents, or 2.1 percent, to $35.40 in trading before U.S. exchanges opened. The world's biggest home-improvement retailer agreed to sell its construction-supply unit for $8.5 billion, cutting the price by 18 percent as the U.S. credit squeeze curbed demand for leveraged-buyout debt, three people familiar with the agreement said. An announcement may come today, the people said.

Marsh & McLennan Cos. (MMC) The world's largest insurance brokerage said it will buy back $800 million of its stock in an accelerated repurchase. The transaction is part of a $1.5 billion buyback plan announced Aug. 7. Marsh rose 10 cents, or 0.4 percent, to $26.51 in regular trading on Aug. 24.

Nuveen Investments Inc. (JNC) UBS AG increased its stake in Nuveen, the money manager being purchased by buyout firm Madison Dearborn Partners LLC, to 6.3 percent, according to a U.S. Securities and Exchange Commission filing. UBS owned 1.9 percent of Nuveen as of June 30. Nuveen rose 46 cents, or 0.8 percent, to $62.20 in regular trading on Aug. 24.

Watch OII, CMG, ZMH for long breakouts.
Watch CFC, CHS, ARO, HRB, FRX for short breakdowns.

-MM

Sun-Times Media Group Inc. (SVN) lost 24 cents, or 8 percent to 2.75 in trading before U.S. exchanges opened. The newspaper company formerly run by Conrad Black said investment trusts failed to repay $48 million in asset-backed commercial paper that matured last week.