Before the bell: MRK, BA, UTX, AMD, NOK, GM ...

Posted Dec 13th 2007 8:25AM by Melly Alazraki
Filed under: Before the Bell, Analyst Reports, Apple Inc (AAPL), General Motors (GM), Nokia Corp. (NOK), Advanced Micro Dev (AMD), Boeing Co (BA), Merck and Co (MRK), Lockheed Martin (LMT), QUALCOMM Inc (QCOM), United Technologies (UTX)

Before the bell: Futures lower on doubts over Fed's plan

Merck & Co. (NYSE: MRK), announced late yesterday it is recalling a vaccine for babies due to contamination risks. The recall covers roughly 1.2 million doses of the vaccine against Hib, which causes meningitis, pneumonia and other serious infections, and a combination vaccine for Hib and hepatitis B.

Boeing Co. (NYSE: BA) said late Wednesday that it had captured its second win for the Ares 1 rocket, NASA's vehicle to take astronauts into space after the retirement of the Space Shuttle. The entire contract has an estimated total value of $799.5 million.

United Technologies Corp. (NYSE: UTX) holds an analyst meeting today, during which the company is expected to affirm its 2008 earnings per share growth outlook. Goldman Sachs expects United Technologies to back its outlook for 10-14% growth in 2008 earnings per share, implying earnings between $4.70-4.85 per share. Analysts expect 2008 earnings of $4.85 per share. Bank of America analyst recently started coverage of the company at Neutral.

Advanced Micro Devices Inc. (NYSE: AMD) also holds an analyst meeting today, following news that it overpaid for its $5.6 billion purchase of ATI Technologies Inc..

Nokia Corp. (NYSE: NOK) said it received a favorable initial ruling from the International Trade Commission on a patent dispute with Qualcomm Inc. (NASDAQ: QCOM), stating Nokia did not infringe or violate the three Qualcomm patents involved in the dispute.

General Motors Corp. (NYSE: GM) "plans to lay off about 340 of the 2,250 production workers at its assembly plant in this Dayton suburb next year because of expected softening in demand for the midsize sport utility vehicles the plant makes."

Lockheed Martin Corp. (NYSE: LMT) said late Wednesday that the U.S. Air Force declared full worldwide operational capability for the company's F-22 Raptor.

Goldman Sachs analyst David Bailey wrote a research note to clients on Apple Inc. (NASDAQ: AAPL) Tuesday. He met with key component suppliers and manufacturers in Asia, and consequently now believes Apple will introduce two revisions to the iPhone in 2008 -- one minor, one major -- in addition to an Apple TV overhaul during the second half of the year.

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