Stocks to Watch Thursday: Mattel, Cemex, Imsa, Vitro

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M&A Earnings/revenue Offerings/stock actions Analyst actions Miscellany

(Updated from 3:01 p.m. EDT)

The No. 1 manufacturer of semiconductor equipment, Applied Materials (AMAT Quote), posted a fiscal third-quarter 70-cent profit, besting the 28-broker forecast by 2 cents and exceeding the year-ago 31-cent result. Additionally, Applied Materials reported an 83% surge in sales. The chipmaker's earnings are widely viewed as a proxy for the wider tech sector. UBS Warburg cut its price target to 90 from 115.

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Retailing giant Gap (GPS Quote) posted second-quarter earnings of 21 cents a share, a penny ahead of the 22-analyst estimate and down from the year-ago earnings of 22 cents. The company warned its third-quarter results could fall to or below the 35 cents it earned in the year-ago period if current business conditions continue.P/>After the announcement, Bear Stearns cut its rating on Gap to attractive from buy and Deutsche Banc Alex. Brown cut Gap to market perform from buy. TSC's Katie Hobson has been keeping an eye on developments in the Gap as well as in the broader retail sector. ...