Friday June 2, 7:26 am Eastern Time
Stocks to Watch: Gillette, Agilent, Hewlett-Packard, Starbucks and More
By Chris Wickham, Correspondent
All eyes on US jobs report; Gillette in talks with Rubbermaid; H-P to divest remaining Agilent shares.
The May jobs report due at 8:30 a.m. ET will determine the direction of stock prices Friday as investors could get a better clue as to whether the Fed continues its interest-rate tightening cycle or not.
For now, however, US shares are seen opening higher, as indicated by the S&P futures contract, which is up 3.30 points.
Gillette (NYSE:G - news) and Newell Rubbermaid (NYSE:NWL - news)
Gillette said after the bell on Thursday that it is holding exclusive talks with Newell Rubbermaid over the sale of Gillette's stationery products business. The companies gave few other details and said negotiations are likely to continue for several weeks. Newell Rubbermaid shares finished the regular session up 1/2 at 26 3/4 while Gillette rose 1 3/8 to 34 3/4. Gillette edged up to 34 7/8 after hours on the MarketXT trading system, where it was the most actively traded issue.
Agilent Technology (NYSE:A - news) and Hewlett-Packard (NYSE:HWP - news)
All eyes will be on Hewlett-Packard's divestment of its remaining stake in Agilent Friday. The computer maker rocketed 14 7/16 to 134 5/8 Thursday with help from positive comments from analysts and a broad rise in technology issues. Agilent slipped in late trading, ending down 1/8 at 73 1/2 and the shares were not among the most actives after hours.
Starbucks (Nasdaq:SBUX - news)
The specialty coffee retailer said after the bell that same-store sales in May rose 9% from a year earlier, which was slightly higher than expectations. Revenues rose 31% to $170 million in the same period. The company also said Orin Smith has replaced Howard Schultz as chief executive. Schulz will focus on Starbucks' international expansion plans. The shares added 1/2 to 34 1/2 in Thursday's regular session but were not actively traded after hours.
Wind River Systems (Nasdaq:WIND - news)
After the market closed, the embedded software developer reported income for the first quarter of 11 cents a share excluding non-operating charges. This was unchanged from a year earlier but 3 cents better than the First Call/Thomson Financial consensus forecast. The company said revenues jumped 34%, to $91.6 million. The shares gained 2 3/4 to 39 ahead of the report but were not active after hours.
Bestfoods (NYSE:BFO - news) and Unilever (NYSE:UN - news)
The Wall Street Journal Europe reports that Anglo-Dutch food and consumer goods giant Unilever has increased its bid for Bestfoods to $70 per share after the US group rejected a $66 offer a month ago. The newspaper said the new offer values the company at $20 billion. Unilever shares were down 1.1% in early trading on the London market, while rival British group Diageo (NYSE:DEO - news), which has been reported to be holding talks with Bestfoods, is down more than 2%.
Cutter & Buck (Nasdaq:CBUK - news)
The sportswear designer issued a profit warning after the close. The company said it expects earnings for its fiscal fourth quarter of 52-55 cents a share, which is well short of the 60 cents consensus forecast from First Call. The company said sales in the quarter are expected to rise 35% to $54.6 million. The shares finished the regular session unchanged at 10 1/8 and they were not among the most actives after hours.
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More Quotes
and News: Agilent Technologies Inc (NYSE:A - news)
Bestfoods (NYSE:BFO - news)
Cutter and Buck Inc (NasdaqNM:CBUK - news)
Diageo PLC (NYSE:DEO - news)
Gillette Co (NYSE:G - news)
Hewlett-Packard Co (NYSE:HWP - news)
Newell Rubbermaid Inc (NYSE:NWL - news)
Starbucks Corp (NasdaqNM:SBUX - news)
Unilever NV (NYSE:UN - news)
Wind River Systems Inc (NasdaqNM:WIND - news)
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