Stocks in the advice Friday

From Standard & Poor’s Equity Research

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Bank of America (BAC) says in view of severe conditions in markets, economy, the U.S. government agreed to assist in Merrill acquisition by making a farther investment in BAC of $20 billion in preferred stock. It says the government has also agreed to make provision protection against further losses on $118 billion in selected capital markets exposing., originally from former Merrill Lynch portfolio. Also cuts quarterly dividend to $0.01. Posts $0.48 fourth quarter loss, vs. $0.05 EPS a year ago, in the manner that significant greaten in preparation for credit losses, other expenses offset 19% income rise.

Citigroup (C) announces it will realign into two businesses, Citicorp and Citi Holdings, to optimize its global businesses for what is yet to have existence profitable growth and opportunities. Posts $1.72 fourth quarter loss, vs. $1.99 loss (both from continuing operations) despite 13% revenue decline. Says results included $6.1 billion in toil trust losses, $6.0 billion net loan loss reserve form, and revenues of $5.6 billion were affected by write-downs and losses in Securities and Banking.

Intel (INTC) posts $0.04, vs. $0.38, fourth billet EPS on 23% revenue become feeble, narrowed gross margin. Results embody $1 billion negative impact from antecedently announced reduction in carrying value of the company’s Clearwire investments. EPS is in line with Street view. For incorporeal purposes, INTC says it is currently planning beneficial to chief quarter revenue in the vicinity of $7 billion. Gross margin percentage is expected to decline to the cheaply 40s, primarily due to higher underutilization charges and 32nm start-up costs. S&P maintains buy.

Johnson Controls (JCI) posts $1.02 first abide loss, vs. $0.39 EPS, on 23% revenue decline.

Maidenform Brands (MFB) sees $1.17-$1.21 2008 EPS view (excluding items) to $1.05-$1.07 on sales of about $413 million. Also says it will take a charge of $0.03 in fourth quarter for a strategic workforce restructuring of 9% of corporate staff.

CF Industries Holdings (CF) offers to bribe all the outstanding shares of Terra Industries (TRA). Terms: 0.4235 CF shares for each TRA share held.

Saks (SKS) leave reduce workforce by about 9% (in addition to previously announced reduction-in-force related to discontinuation of the Club Libby Lu business). Also says it testament eliminate 2009 merit-based wager increases for the unmitigated workforce and suspend 401(k) Plan Company matching contributions towards a minimum of 1 year and suspend future benefit accruals for the limited numerate of associates remaining in SKS’s pension plan. Lowers its planned capex for this year to about $60 million.

Genentech (DNA) posts $0.95, vs. $0.69, fourth quarter non-GAAP EPS on 25% higher operating income, 13% rise in U.S. product sales. Street was looking for $0.96. Sees 2009 non-GAAP EPS of $3.55-$3.90, recognizing that there are a large number of business uncertainties that make it a difficult year to anticipate. Street is currently looking for 2009 EPS of $3.92.

Belden (BDC) cuts 2008 EPS guidance to $2.53-$2.58 range, vs. previous guidance of $2.95-$3.00, revenue at once expected to be about $2 billion, vs. previous estimate of about $2.1 billion. Says popular outlook is adjusted for asset impairment, restructuring charges, gross advancement impact of receipts deferral in the Wireless Segment, and nonrecurring purchase accounting effects.

Broadcom (BRCM) announces that the U.S. International Trade Commission (ITC) has affirmed an ITC administrative law judge’s initial persistence that SIRF Technology (SIRF) infringes 3 additional GPS-related patents held through Global Locate, Inc., a wholly-owned subsidiary of BRCM. The ITC issued an exclusion order against SIRF’s infringing GPS chips and products containing these chips imported by certain SIRF customers and cease and desist orders to match SIRF and specified SIRF customers.

Original text: http://www.businessweek.com/investor/content/jan2009/pi20090116_878361.htm?campaign_id=rss_null