Schaeffer's Trading Floor Blog
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The momentum from yesterday's bullish session appears to be carrying over this morning, with futures pointed higher in pre-market trading. In company news, here are some stocks to watch today:

  • American Express Company (NYSE:AXP) has signed off on a $900 million deal to sell a 50% stake in its business-travel unit. AXP will retain a 50% ownership interest in the joint venture, with the other half divided among investment firms such as Qatar Holding LLC, and funds managed by BlackRock Inc. (NYSE:BLK) and Macquarie Capital. (Bloomberg Businessweek)

  • Sony Corporation (ADR) (NYSE:SNE) has begun laying off employees in its entertainment division, according to an inside source. Prior to the cuts, Sony Pictures Entertainment had roughly 6,500 workers worldwide; it's unknown how many will be affected by the downsizing effort. (Bloomberg Businessweek)

  • Hertz Global Holdings, Inc. (NYSE:HTZ) announced plans to split into two publicly traded companies -- the main one still focused on vehicle rentals, the other on equipment rentals. If all goes according to plan, the latter will be spun off from HTZ for $2.5 billion in cash proceeds, and will be called Hertz Equipment Rental Corp. (HERC). (Bloomberg)

  • Wal-Mart Stores, Inc. (NYSE:WMT) locations based in the U.S. will soon offer customers store credit for used video games. Assisting WMT with the initiative is CExchange, which will refurbish the used games, preparing them for resale. (The New York Times)

  • Also, DSW Inc. (NYSE:DSW) and Yingli Green Energy Hold. Co. Ltd. (ADR) (NYSE:YGE) reported quarterly earnings. (NASDAQ; Reuters)

  • Finally, if you're in the market for a brand-new iPad 2, prepare to be disappointed -- the Apple Inc. (NASDAQ:AAPL) tablet has been retired, and is now absent from the Apple Store. In its place is the fourth-generation 16GB Retina iPad, which retails for just under $400. (Mashable)


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