Schaeffer's Trading Floor Blog

Buzz Stocks: AT&T Inc., Medtronic, Inc., Hillshire Brands Co, and Vodafone Group Plc (ADR)

Today's stocks to watch in the news include T, MDT, HSH, and VOD

by 6/16/2014 9:03 AM
Stocks quoted in this article:

Concerns over escalating violence in Iraq are pressuring U.S. stock futures lower this morning. In company news, here are some stocks to watch today:

  • Private customer information from AT&T Inc.'s (NYSE:T) Mobility division was accessed without authorization from April 9 to April 21. Three employees from one of Ma Bell's third-party vendors were responsible for the breach, giving them access to proprietary data (such as Social Security numbers, birth dates, and call records), as well as the potential ability to unlock cell phones for sale on the secondary market. (CNET)

  • Yesterday, Medtronic, Inc. (NYSE:MDT) agreed to purchase rival medical device maker Covidien plc (NYSE:COV) for roughly $43 billion. As part of the "inversion" agreement, MDT will relocate its Minneapolis home office to COV's headquarters in Ireland, where it will benefit from lower corporate tax rates. (The New York Times)

  • The board of Hillshire Brands Co (NYSE:HSH) -- which recently agreed to a buyout offer from Tyson Foods, Inc. (NYSE:TSN) -- has recommended rescinding its offer to purchase Pinnacle Foods Inc (NYSE:PF). The HSH board issued a statement saying the TSN deal is more financially beneficial to shareholders. (FOX Business)

  • Vodafone Group Plc (ADR) (NASDAQ:VOD) has taken a 74% stake in Cobra Automotive Technologies SpA -- which specializes in connecting cars to the Internet -- and has designs to acquire the balance of the company. A VOD spokesman said Cobra's technology will help the mobile communications firm win more contracts by offering a more comprehensive and unified suite of connectivity solutions and applications. (Bloomberg Businessweek)

  • Finally, the San Antonio Spurs defeated the Miami Heat last night to become NBA champions for the fifth time since 1999. The victory was especially sweet for the Spurs, given that the Heat beat them for the title last year. (SFGate)

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