Schaeffer's Trading Floor Blog

Buzz Stocks: Apple Inc. (AAPL), Expedia Inc, American Apparel Inc, and Archer Daniels Midland Company

Today's stocks to watch in the news include AAPL, EXPE, APP, and ADM

by 7/7/2014 8:47 AM
Stocks quoted in this article:

Recent remarks from International Monetary Fund (IMF) head Christine Lagarde are pressuring U.S. futures lower ahead of the open. In company news, here are some stocks to watch today:

  • Apple Inc. (NASDAQ:AAPL) has hired Patrick Pruniaux -- former vice president of sales and retail for high-end Swiss watchmaker Tag Heuer -- for a currently unspecified role. The addition of Pruniaux increases speculation that AAPL is on the brink of debuting the long-awaited iWatch. (ZDNet)

  • In an attempt to boost its presence in the Asia-Pacific market, Expedia Inc (NASDAQ:EXPE) reached a deal to buy Australia-based Wotif.com Holdings Ltd. for $658 million. "Wotif Group is well positioned in the Asia-Pacific region with a portfolio of leading travel brands," EXPE CEO Dara Khosrowshahi said of the acquisition, which is expected to close in October, pending shareholder and regulatory approval. (Bloomberg)

  • American Apparel Inc (NYSEMKT:APP) is attempting to secure funding from hedge fund Standard General -- which owns 43% of APP stock -- to pay off a $10 million loan from Lion Capital that's past due, The Wall Street Journal reported yesterday. The retailer has also approached Standard General about replacing APP's board, save for its two co-chairmen. (Reuters, via FOX Business)

  • Archer Daniels Midland Company (NYSE:ADM) is shelling out 2.2 billion euros in cash -- and will take on roughly 136 million euros of net debt -- in order to buy Switzerland-based Wild Flavors, the sixth-largest flavoring company in the world. "Together, ADM and Wild Flavors will create one of the leading flavor and specialty ingredient companies in the world, with sales approaching $2.5 billion and significant room to grow," ADM Chairman and CEO Patricia Woertz said. (Reuters, via CNBC)

  • Finally, a recent report from Akamai Technologies, Inc. (NASDAQ:AKAM) revealed that U.S. broadband speeds have improved dramatically, but on average, still trail 11 other countries. Specifically, the typical connection speed in America is 10.5 megabits per second -- up 31% year-over-year -- while global leader South Korea's average speed clocks in at 23.6 Mbps. (Consumerist)


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