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  • Hot Stocks to Watch on Thursday - 08/19/2010 - PETM, POT, BIIB, INTC, MFE, SYMC

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    Thursay Aug 19, 2010, 09:13 am EST
    Stocks to Watch on Thursday 08/19/2010 -  PETM, POT, BIIB, INTC, MFE, SYMC
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    Hot Stocks to Watch Thursday 08/19/2010  are
    PETM- PetSmart, Inc.
    POT- Potash Corp./Saskatchewan (USA).
    BIIB- Biogen Idec Inc.
    MFE- McAfee, Inc.

    PETM - PetSmart, Inc. (NASDAQ:PETM)
    PetSmart Inc. (PETM) announced that it expects third quarter earnings of $0.35 to $0.39 per share and fiscal year earnings of $1.91 to $1.99 per share compared to earlier estimates of fiscalal year earnings of $1.82 to $1.92 per share. Shares gained in after hours on Wednesday.
    POT- Potash Corp./Saskatchewan (USA)(NYSE:POT)
    Miner BHP Billiton on Wednesday launched a hostile $38.5 billion all-cash takeover for Potash Corp. of Saskatchewan. Earlier Potash Corp. rejected the offer saying it is "grossly inadequate." Traders were expecting a higher bid up to $164. Shares may drop a bit on speculations tomorrow.

    BIIB - Biogen Idec Inc. (NASDAQ:BIIB)
    Biogen Idec Inc. (BIIB) has signed an agreement with Knopp Neurosciences for an exclusive worldwide license to develop and commercialize KNS-760704, a potential treatment of amyotrophic lateral sclerosis known as Lou Gehrig’s disease. Biogen Idec will purchase $60 million of Knopp stock, provide an upfront payment of $20 million, and make additional payments of up to $265 million if development, regulatory, and sales milestones are met.

    MFE - McAfee, Inc.(NYSE:MFE)

    Intel Corporation (NASDAQ: INTC) announced about an hour ago that it is acquiring McAfee, Inc. (NYSE: MFE) for $7.68 billion. Intel will be paying $48.00 per share, which is a 60% premium over McAfee's Wednesday closing. Intel will be using the internet security technology to many more devices for which proper security has not been developed yet. Shares of other major players in the Industry such as Symantec Corporation (SYMC) also are up in pre-market

    God Bless,
    Be Rich.


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