Company/EPS Estimate
- (FDO)/.37
- (STZ)/.55
- (KBH)/-1.34
- (AYI)/.82
- (SWY)/.69
- (SVU)/.63
Bear Stearns Cos. (BSC) added $1.25, or 1.6 percent, to $77.60 in trading before the open of U.S. exchanges. Chief Executive Officer James ``Jimmy'' Cayne plans to resign as the securities firm's shares languish following losses from the collapse of the subprime mortgage market, a person with direct knowledge of the matter said. Bear Stearns spokesman Russell Sherman declined to comment.
Circuit City Stores Inc. (CC) fell 26 cents, or 6.2 percent, to $3.95 in Germany. The second-largest U.S. consumer- electronics chain said December sales dropped 8.9 percent and repeated a forecast for a loss in the fourth quarter after holiday discounts failed to attract shoppers.
Citigroup Inc. (C): The biggest U.S. bank may post a larger loss than previously estimated because it may take a $16 billion writedown in the fourth quarter, Merrill Lynch & Co. analyst Guy Moszkowski said. The shares added 2 cents to $28.26 yesterday.
Stanley Works (SWK): The tool supplier said earnings for the fourth quarter were lower than it had anticipated and the company faced ``difficult market conditions.'' The stock climbed 49 cents to $44.84 yesterday.
Watch PEP, MON, FE, CRL, POT for long breakouts.
Watch MHK, ESI, KCI, TGT, STU for short breakdowns.
-MM
