BP Faces Crude-Oil, Gasoline Probes

Intel unveils new processors; Boeing sets a stock buyback; plus more stocks in the news Tuesday

From Standard & Poor's Equity Research

BP (BP) Federal investigators are examining whether BP manipulated crude-oil and unleaded gasoline markets, signaling a rise in regulatory scrutiny of the British energy giant, said lawyers and traders close to case, according to the Wall Street Journal.

Intel (INTC) unveiled eight new Dual-Core Intel Xeon(R) 7100 series processors designed for multi-processor servers.

MTV Networks (MTVN), owned by Viacom Inc. (VIA), (VIA.B), announced today that it has agreed to acquire the remaining interest in joint venture MTV Japan from private equity firm H&Q Asia Pacific to give MTVN 100% ownership.

Boeing (BA) sets a $3 billion stock buyback.

Navistar Intl (NAV) says that previously announced production cuts by Ford Motor will result in an Oct. schedule change at its Indianapolis engine assembly plant necessitating the layoff of about 380 employees.

Steel Dynamics (STLD) sets a 5 million share buyback. It reaffirms third quarter earnings per share (EPS) guidance of $2.05-$2.15 per diluted share, and also sees $2.05-$2.15 fourth quarter EPS. It does not expect a strike in West Virginia to have material impact on its financial performance.

Barnes & Noble (BKS) receives a subpoena from the US Attorney requesting documents regarding stock option practices.

Novelis (NVL)'s board decides to replace President and CEO Brian Sturgell. William Monahan, Chairman of Board, is to serve as Interim CEO; the Board commences an external search for a successor to Mr. Sturgell.

Netease.Com (NTES) sets a new $100 million share buyback of its outstanding American Depositary Shares (ADSs) for a period not to exceed six months.

Fair Isaac (FIC) sets a $250 million stock buyback.

Kirkland's (KIRK) posts 29 cents second quarter loss vs. 29 cents loss on 9% lower same-store sales. It sees 18 cents to 22 cents third quarter loss on $93 million to $96 million sales, with a 6%-9% drop in same-store sales.

Viropharma (VPHM) says recent data demonstrates the antiviral effects of HCV-796 across multiple genotypes of the hepatitis C virus, in treatment-naive adult subjects with chronic hepatitis C infection.

Sanderson Farms (SAFM) posted better-than-expected 16 cents (including a 10-cent tax benefit) vs. $1.19 third quarter EPS as higher costs of sales offset a slight sales rise.

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