The Watch List This Week (July 1-8, 2006)
The Watch List fell 0.8 percent in the first week of July, worse than the S&P 500 but better than the small- and mid-cap indices that are probably better comparisons. This is an exact reversal of the unofficial first week’s performance at the end of June.
It was an interesting week, with one Watch List company buying another, one down big because it will have to restate earnings, an earnings warning, retailers reporting same-store sales, and the monthly employment report. Next week begins earnings season, so the wackiness is likely to continue.
Here are a few of the other stories, that didn’t get their own post:
Ceradyne (CRDN) shares got a lift from a new Army body armor contract. Initial order is $60 million, with a potential for $611 over five years.
Hopped-up hops (BUD)
Arkansas truckers on a roll. (ABFS)
Bancolombia predicts further consolidation - BNamericas (CIB)
Starbucks Japan plans to open 100 new stores per year, which may be aggressive given that same-store sales at the current 650 outlets are rising only 2 percent annually. Starbucks Japan is 40 percent-owned by Starbucks. (SBUX)
Heineken (HINKY.PK) aims to grow its market share in Russia, will distribute Budweiser (BUD).
Freeport McMoRan faces calls for closure of its mine in Papua.
Amphenol (APH) will take a charge of $0.11 to $0.22 per share due to flood damage at one of its plants.
International Speedway’s (ICSA) earnings disappointed, full-year guidance was narrowed to the lower end of the range.
Pinnacle Airlines Releases June Traffic and it looks decent.
The stock price for high-flyer Hansen Naturan (HANS) may still not be pricing in enough growth.
Disclosure: Author is long Starbucks (SBUX) at time of publication.
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