Schaeffer's Trading Floor Blog

Buzz Stocks: AT&T Inc., BP plc (ADR), Lions Gate Entertainment Corp. (USA), and UBS AG

Today's stocks to watch in the news include T, BP, LGF, and UBS

by 3/14/2014 9:05 AM
Stocks quoted in this article:

Despite rising tensions between Ukraine and Russia concerning the fate of Crimea, U.S. futures are pointed modestly higher this morning. In company news, here are some stocks to watch today:

  • AT&T Inc.'s (NYSE:T) deal to acquire Leap Wireless International, Inc. (NASDAQ:LEAP) has been met with approval from the Federal Communications Commission (FCC). However, the FCC is requiring T to meet certain conditions, as well, such as upgrading its network and divesting spectrum in select markets. (FOX Business)

  • BP plc (ADR) (NYSE:BP) reached an agreement with the Environmental Protection Agency (EPA) yesterday, allowing the energy concern back into the Gulf of Mexico. BP has been banned from drilling in the gulf since 2012, after failing to completely correct the problems that resulted in the 2010 Deepwater Horizon rig explosion. (The New York Times)

  • Lions Gate Entertainment Corp. (USA) (NYSE:LGF) will pay a $7.5 million fine in order to resolve the Securities and Exchange Commission's (SEC) charges that the studio misled investors in order to avoid a 2010 takeover bid from activist investor Carl Icahn. According to the SEC, LGF distributed millions of newly created shares to a management-friendly stakeholder, without disclosing that the move was meant to ward off the potential tender offer. (USA Today)

  • The Hong Kong Monetary Authority found that a group of UBS AG (NYSE:UBS) traders attempted to rig the city's benchmark interest rate from 2006 to 2009. However, the agency also said the roughly 100 "change requests" sent by the traders had a "negligible impact" on the rate, and thus declined to impose a fine. (Bloomberg Businessweek)

  • Also, Aeropostale Inc (NYSE:ARO) and Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) reported quarterly earnings. (Bloomberg; MarketWatch)

  • Finally, Facebook Inc (NASDAQ:FB) CEO Mark Zuckerberg remarked yesterday that he had called President Barack Obama to express his confusion and frustration regarding the National Security Agency's (NSA) online data-collection efforts. "The U.S. government should be the champion for the Internet, not a threat," Zuckerberg said. "They need to be much more transparent about what they're doing, or otherwise people will believe the worst." (MarketWatch)

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