Sales Beef Up McDonald's Shares
Editor's Note: In this feature from Stockpickr, we highlight lists of stocks that have been upgraded by analysts or are experiencing activist investor situations or some other market-moving events.
: Now that
BEA Systems
( BEAS), a stock holding of activist investor
, has received a
$17-a-share bid
from
Oracle
(ORCL) - Get Report
, StreetInsider.com reports that Icahn may next turn his attentions to
Biogen Idec
(BIIB) - Get Report
, where his Icahn Management hedge fund already owns a roughly 1% stake. BEA shares rocketed 38% to $18.80 on news of the $6.6 billion offer, while Biogen shares were gaining 2.6% to $68.88.
:
General Electric
(GE) - Get Report
reported
third-quarter earnings
of 50 cents a share, which was in-line with estimates, and revenue of $42.5 billion, slightly above the consensus estimate of $42.4 billion. The company narrowed its 2007 earnings-per-share guidance to $2.19-$2.22, vs. prior guidance of $2.18-$2.23. Analysts are looking for $2.20. GE shares sunk 2.2% to $40.69.
McDonald's
(MCD) - Get Report
said third-quarter
earnings should exceed
analysts' estimates as global comparable sales rose 5.9% in September and U.S. same-store sales are up 3.5%. Europe comparable sales rose 5.7% last month, while Asia/Pacific, Middle East and Africa comparable sales rose 12%. The restaurant chain expects third-quarter earnings will be 89 cents a share, including 83 cents from continuing operations and an after-tax gain of 6 cents from the sale of Boston Market. Analysts are looking for earnings of 77 cents before the gain. Shares of McDonald's gained 70 cents, or 1.2%, to $56.95.
: Deutsche Bank
downgraded
Citigroup
(C) - Get Report
to sell from buy, saying a new management shakeup doesn't go far enough since it leaves the Office of Chairman intact "despite performance that has repeatedly fallen short of peers and certain of their operating targets." Citi shares fell 1.4% to $47.64.
: Wachovia upgraded
Sprint Nextel
(S) - Get Report
to outperform. The stock is down 9% since last June and is likely within six months of a sustainable turnaround in subscriber growth. On Friday, the stock was trading flat at $17.99.
: StreetInsider.com's 13D Tracker points to a regulatory filing on
Crown Crafts
(CRWS) - Get Report
, in which Wynnefield Partners -- a 14.6% shareholder -- disclosed a letter it sent to the company's board of directors. Wynnefield is requesting that the textile maker form an independent committee to consider a sale or merger. Crown Crafts lost 9 cents, or 2.2%, to $4 in recent trading Friday.
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