Stocks to Watch Friday
Wall Street looked set to open lower as investors closely watch for a budget deal after President Barack Obama and lawmakers are set to have a last round of talks before a New Year deadline. Economic data scheduled for release includes Chicago PMI and pending home sales. European stocks drifted lower in low volumes, as the lack of progress in fiscal cliff talks prompted investors to book a portion of their recent strong gains ahead of the year end. Asian shares ended higher. Brent crude hovered near $111 per barrel. Gold edged lower and it has come off a 4-month low of $1,635.09 struck on Dec. 20, but remains well below a record high of around $1,920 hit in September 2011.
Prologis Inc. (PLD) – The company said Walter C. Rakowich, co-CEO, will retire on December 31, 2012. Hamid R. Moghadam will assume the role of CEO and chairman on January 1, 2013.In Other News
DirecTV Group (DTV) – The satellite television provider said its service fees will rise by an average of 4.5 percent in February due to increasing programming costs. The company has to pay about 8 percent more for programs, since almost all of its providers are hiking their rates, it said on Thursday. The new fees will go into effect on Feb. 7.
General Dynamics Corp. (GD) – The U.S. Navy last week awarded submarine contracts worth up to $4.5 billion to the company andHuntington Ingalls Industries Inc (HII), securing the funds from automatic budget cuts if Congress cannot reach agreement on other ways to reduce U.S. deficits.
Tags: CEO, GD, HPQ, PLD