Lockheed Martin Corp. (LMT) fell $2.76, or 2.5 percent, to $107.72 in extended trading. The world's largest defense company won a $465.7 million extension of its NASA contract to provide external fuel tanks for the fleet of space shuttles. The contract calls for Lockheed to deliver 17 tanks through 2010, the National Aeronautics and Space Administration said in a statement two days ago after the close of U.S. exchanges.
McAfee Inc. (MFE): The second-largest maker of security software said it will restate 10 years of results by $137.4 million to correct errors in stock-option accounting, bringing its statements up to date with U.S. regulators. The company said earlier it expected to restate $100 million to $150 million. The stock rose $1.05, or 2.8 percent, to $38.12 in regular trading.
Midway Games Inc. (MWY) The video game developer whose shares have fallen 60 percent this year named Shari Redstone chairman, succeeding Kenneth D. Cron, who resigned after serving on the board since 2004. Redstone was vice chairman, Midway said in a statement. The company is controlled by her father, billionaire Sumner Redstone. The shares fell 3 cents to $2.80 in regular trading.
News Corp. (NWS) The media company controlled by Rupert Murdoch agreed to sell eight of its Fox network-affiliated television stations in the U.S. to Oak Hill Capital Partners LP for about $1.1 billion in cash. The company's stock gained 67 cents to $21.74 on Dec. 21.
Robert Half International Inc. (RHI) The temporary- services company may rise to $40 by the end of 2008 as U.S. companies try to cut costs by increasing their use of temporary workers, Barron's reported, citing Brandt Sakakeeny, an analyst at Deutsche Bank. Robert Half rose 64 cents to $26.90 on Dec. 21.
Trex Co. (TWP) The maker of composite deck and fence materials is inexpensive and may be a good speculative buy, Barron's reported, citing no one. Trex shares rose $1.14, or 16 percent, to $8.32 on Dec. 21.
Watch RIG, UNH, D, PEG, MA for long breakouts.
Watch RHD, XL, NEN, IHP, STU for short breakdowns.
-MM
