Company/EPS Estimate
- (HST)/.13
- (PGR)/.37
- (MON)/-.16
- (RT)/.21
Alcoa Inc. (AA): The world's second-largest aluminum company said third-quarter profit increased 3.4 percent because of gains from the sale of its stake in Aluminum Corp. of China Ltd. and higher metal prices. Alcoa said it may spend about $6.9 billion to increase its buyback program. Alcoa shares rose $1.42, or 3.7 percent, to $39.72 yesterday.
Cadbury Schweppes Plc American depositary receipts (CSG) climbed 33 cents, or 0.7 percent, to $49.59. The world's largest candy maker plans to spin off its U.S. drinks unit, the maker of Dr Pepper and 7-Up, after the seven-month search for a buyer was derailed by collapsing credit markets.
Carnival Corp. (CCL) gained 30 cents, or 0.6 percent, to $51.63. The world's largest cruise operator and its closest rival Royal Caribbean Cruises Ltd. (RCL) were raised to ``overweight'' from ``equal weight'' at Lehman Brothers Holdings Inc. Stabilizing Caribbean trends, more visibility in the industry and strength in Europe should drive ``upside,'' analyst Felicia R. Hendrix wrote. Royal Caribbean shares added $1.30, or 3.3 percent, to $41.35 yesterday.
EMC Corp. (EMC) rose 19 cents, or 0.9 percent, to $22. The world's biggest maker of storage computers had its price estimate raised 13 percent to $26 at UBS. Analyst Ben A. Reitzes cited contributions from EMC unit VMWare Inc. (VMW), a maker of server software whose stock has jumped since it went public in August, and server virtualizations trends. VMWare shares gained $6.52, or 6.9 percent, to $101.61 yesterday.
Host Hotels and Resorts Inc. (HST): The owner of properties including Marriotts, Westins and Hiltons said in a statement on PR Newswire that third-quarter profit gained more than analysts anticipated as customers paid more for rooms. Host shares added 21 cents, or 0.9 percent, to $23.11 yesterday.
International Paper Co. (IP) fell $1.06, or 2.9 percent, to $36. The world's largest paper company said third-quarter earnings missed analysts' estimates because of lower-than- expected land sales.
Watch PKX, FLR, GM, VLO for long breakouts.
Watch BGG, DSW for short breakdowns.
-MM
