Stocks to Watch: Applied Materials, AIG, Hormel and More

eWallstreeter | eWallstreeter | May 25, 2011 5:53 am

Some stocks to watch today, including Applied Materials and AIG.

Applied Materials’ fiscal second-quarter earnings jumped 85%, but the semiconductor equipment company warned that near-term economic conditions are causing “tempered” growth expectations. Shares were down 1.5% at $13.50 premarket.

American International Group Inc. priced its 300 million share stock offering Tuesday evening at $29 a share, raising $8.7 billion and reducing the U.S. government’s stake in the insurer. Shares of AIG fell 2.9% to $28.60 premarket.

Hormel Foods Corp.’s fiscal second-quarter earnings rose 41%, led by improved performance at the food-processing company’s refrigerated foods and Jennie-O turkey businesses, though its grocery products and specialty foods segment results were hurt by higher commodities costs. Shares slipped 1.7% to $29.50 premarket.

Collective Brands’ fiscal first-quarter earnings plunged by half on unexpected sales declines, as higher prices for gasoline and food and bad weather in some parts of North America deterred Payless ShoeSource’s…