Stocks: (VOD)(NKE)(F)(TM)(CMX)(CVS)(LLY)(LVLT)(IBM)(FDX)(GE)
According to Reuters, Nike’s profits rose 8% in the last quarter, helped by sales of its smaller brands.
The New York Times writes that Ford expected Toyota to overtake it as the second largest car company in the US sometime next year.
Reuters reports that the Caremark deal with CVS has cleared a key regulatory hurdle.
The New York Times writes that provided information to doctors about the blood-sugar risks of Eli Lilly’s drug Zyprexa that did not match data that the company circulated internally.
The Wall Street Journal writes that Fedex had good earnings for the completed quarter but gave guidance for a slowing business in the next quarter.
The WSJ also writes that IBM will not longer give directors stock options. Instead they will receive $200,000 a year in stock and cash.
The WSJ reports that hedge fund Highland will present a $4.7 billion restructuring offer to Delphi’s board. Another hedge fund group has put in a bid.
The WSJ also reports that an increase in web video traffic has helped network owner Level 3 double its stock in the last year.
The New York Times reports that a new method for extracting oil from shale could create a highly profitable new business.
The New York Times also reports that GE’s stock is rising, perhaps because investors want a stable stock as the economy slows.
The FT reports that British phone company Vodafone is considering a $13 billion offer for large India cell phone operator Hutchinson Essar.
Barron’s writes that healthcare and biotech stocks, which have lagged the market, should do well in 2007.
Douglas A. McIntyre
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