Schaeffer's Trading Floor Blog

Buzz Stocks: Apple Inc. (AAPL), PepsiCo, Inc., Jos. A. Bank Clothiers Inc, and Wells Fargo & Co

Today's stocks to watch in the news include AAPL, PEP, JOSB, and WFC

by 2/14/2014 9:08 AM
Stocks quoted in this article:

Futures are flirting with breakeven this morning, with industrial production, capacity utilization, and the latest Thomson Reuters/University of Michigan consumer sentiment survey on tap. In company news, here are some stocks to watch today:

  • A top Apple Inc. (NASDAQ:AAPL) executive announced that January was the first month for which the iPad maker can confirm that none of the tantalum it uses in its capacitors and resistors had been sourced from mines in conflict zones. AAPL is planning to take it a step further by auditing all of its mineral suppliers to ensure their compliance with ethical sourcing practices. (Financial Times, via CNBC)

  • PepsiCo, Inc.'s (NYSE:PEP) original productivity plan from 2012 has been extended through 2019, targeting an estimated annual savings of $1 billion. The initiative requires PEP to invest more in manufacturing automation, re-engineer its distribution network, and close certain manufacturing facilities, among other efforts. (Bloomberg Businessweek)

  • Jos. A. Bank Clothiers Inc (NASDAQ:JOSB) has struck a deal to purchase retailer Eddie Bauer for $825 million in cash and debt. In so doing, JOSB hopes to put an end to the acquisition attempts of rival The Men's Wearhouse, Inc. (NYSE:MW). (CNNMoney)

  • Wells Fargo & Co (NYSE:WFC) is venturing into subprime mortgages once again, in order to turn around its struggling home lending business. In recent weeks, the bank has dropped its credit score requirement to 600 from 640, while asking applicants with lower scores to provide documentation and a reasonable explanation for their less-than-ideal credit records. (Reuters)

  • Also, Cliffs Natural Resources Inc (NYSE:CLF) and Kraft Foods Group Inc (NASDAQ:KRFT) reported quarterly earnings. (Reuters; Chicago Tribune)

  • Finally, General Motors Company (NYSE:GM) has pledged to restore the Corvettes damaged on Wednesday when a sinkhole opened up in the middle of the National Corvette Museum in Bowling Green, Ky. In all, eight cars were affected, and three appear to be trapped below piles of debris. (Los Angeles Times)

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