Our feature of “The Unusual Suspects” is back after not having enough consistent planned events during the last two weeks of the holidays. We have earnings due, cases happening, FDA events, mergers, rumors and more. The cast of characters in The Unusual Suspects of issues to watch in the week ahead includes Alcoa, Inc. (NYSE: AA), Apollo Group Inc. (NASDAQ: APOL), Duke Energy Corporation (NYSE: DUK), Progress Energy Inc. (NYSE: PGN), Endo Pharmaceuticals Holdings Inc. (NASDAQ: ENDP), FirstEnergy Corp. (NYSE: FE), Allegheny Energy Inc. (NYSE: AYE), Genzyme Corporation (NASDAQ: GENZ), Intel Corporation (NASDAQ: INTC), J.P. Morgan Chase & Co. (NYSE: JPM), Motorola Mobility, Inc. (NYSE: MMI), Riverbed Technology, Inc. (NASDAQ: RVBD), Tenet Healthcare Corporation (NYSE: THC), and Union Pacific Corporation (NYSE: UNP) We also have an issue around Wells Fargo & Co. (NYSE: WFC) and US Bancorp (NYSE: USB) to watch that could impact many banks.
We have provided the expected events, added in background and price data, added in color on each where applicable, and more.
Alcoa, Inc. (NYSE: AA) kicks off earnings Monday after the close and Thomson Reuters has earnings estimates of $0.19 EPS on $5.68 billion in revenues. Be advised that at $16.42 its 52-week range is $9.81 to $17.60 and also know that this was around $12.00 before its October earnings.
Apollo Group Inc. (NASDAQ: APOL) is also due to report earnings Monday after the close. It finds itself between the days of former growth and regulation out the (you know what)… It cannot be a value stock even if the numbers today suggest so. The regulation affecting forward business throws too many variables into the mix. Thomson Reuters has estimates of $1.35 EPS and $1.26 billion in revenues. At $37.98, its 52-week trading range is $33,75 to $66.69.
Duke Energy Corporation (NYSE: DUK) with a $23.5+ billion market cap is reported by the WSJ to be acquiring Progress Energy Inc. (NYSE: PGN) with its $13.1 billion market cap. The WSJ homepage notes: “Duke Energy is close to a deal to buy Progress Energy in an all-stock merger that would value its smaller rival at more than $13 billion.”
Endo Pharmaceuticals (NASDAQ: ENDP) announced late Friday night that it received a complete response letter from the FDA on the application of its new formulation of OPANA® ER designed to be crush resistant. Endo noted that this does NOT need those additional clinical studies be conducted for approval of the NDA, but noted that it currently anticipates responding to the FDA by mid-2011 and would expect a six-month review cycle once its response is filed. The new formulation of OPANA ER is for moderate to severe pain in patients requiring continuous, around-the-clock opioid treatment for an extended period of time.