Schaeffer's Trading Floor Blog

Buzz Stocks: Apple Inc. (AAPL), Amazon.com, Inc., American International Group Inc, and Toyota Motor Corp (ADR)

Today's stocks to watch in the news include AAPL, AMZN, AIG, and TM

by 6/11/2014 9:14 AM
Stocks quoted in this article:

A downwardly revised global growth outlook at the World Bank is pressuring futures lower ahead of the bell. In company news, here are some stocks to watch today:

  • The European Union's (EU) competition regulators are investigating the tax breaks Apple Inc. (NASDAQ:AAPL), Starbucks Corporation (NASDAQ:SBUX), and Fiat Finance & Trade SA receive in three EU countries, due to concerns over potential special treatment. EU Competition Commissioner Joaquin Almunia said the current setup the firms have arranged with their host nations "could underestimate the taxable profit and thereby grant an advantage to the respective companies by allowing them to pay less tax." (Bloomberg Businessweek)

  • Seeking leverage in contract negotiations with Time Warner Inc (NYSE:TWX), Amazon.com, Inc. (NASDAQ:AMZN) has switched off customers' ability to preorder movies produced by TWX-owned Warner Bros. This is only the latest spat between the online retailer and its suppliers; for the past month, AMZN has been in a dispute with publishing house Hachette over the terms of e-book sales. (CNNMoney)

  • American International Group Inc (NYSE:AIG) has designated Peter D. Hancock -- currently head of the insurer's property casualty business -- as its next CEO and director, effective Sept. 1. Hancock will replace outgoing CEO Robert H. Benmosche, who came out of retirement five years ago to help rebuild AIG, following the financial crisis. (The New York Times)

  • Toyota Motor Corp (ADR) (NYSE:TM) issued another recall in Japan yesterday -- this time for 650,000 vehicles, due to safety concerns related to their airbags. Takata Corp -- which produced the parts for TM -- said additional recalls may be necessary, as well. The news prompted other automakers that use Takata parts to begin investigating the need for recalling vehicles. (Reuters)

  • Also, H&R Block, Inc. (NYSE:HRB) and Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) reported quarterly earnings. (Bloomberg; Chicago Tribune)

  • Finally, JetBlue Airways Corporation (NASDAQ:JBLU) unveiled its first-ever business class cabin called "Mint," which will be available to select fliers traveling between New York and Los Angeles starting this Sunday. The new cabin features dark leather seats that extend into flat beds, a "privacy door" that can be opened and shut, and upgraded food offerings. (Bloomberg Businessweek)


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