Schaeffer's Trading Floor Blog

Buzz Stocks: EMC Corporation, Hasbro, Inc., Reynolds American, Inc., and General Motors Company

Today's stocks to watch in the news are EMC, HAS, RAI, and GM

by 7/21/2014 9:29 AM
Stocks quoted in this article:

U.S. markets are signaling a slower start this morning, as geopolitical concerns weigh on investor sentiment. In company news, here are some stocks to watch today:

  • Elliot Management Corp. announced over the weekend it has taken a more than $1 billion stake -- or roughly 2% -- in EMC Corporation (NYSE:EMC). By becoming EMC's fifth-largest shareholder, the hedge fund is hoping to convince the data storage supplier to spin off VMware, Inc. (NYSE:VMW) -- of which EMC holds an 80% stake. (MarketWatch)

  • Hasbro, Inc. (NASDAQ:HAS) has teamed up with 3-D printing firm Shapeways to allow fans of My Little Pony to design figurines of their favorite characters. While HAS is initially starting with five chosen artists, the company is hoping to expand its roster down the road, as well as include additional brands and materials. The news comes in conjunction with Hasbro's second-quarter earnings results. (The New York Times; FOX Business)

  • A jury in Florida on Friday slapped R.J. Reynolds Tobacco Co. -- a subsidiary of Reynolds American, Inc. (NYSE:RAI) -- with $23.6 billion in punitive damages in a lawsuit filed by a woman whose husband died of lung cancer. In response, an R.J. Reynolds Tobacco Co. exec said, "We plan to file post-trial motions with the trial court promptly, and are confident that the court will follow the law and not allow this runaway verdict to stand." (USA Today)

  • A filing released on Friday revealed that General Motors Company (NYSE:GM) vehicles made prior to 2003 may have been serviced with faulty parts, as a result of mislabeling after the company redesigned ignition switch parts in 2003 and 2004. However, while older parts were potentially used to replace the ignition switches, a GM spokesman said, "nothing in our data suggests that there is a danger out there." (Reuters)

  • Also, reporting quarterly earnings were Allergan, Inc. (NYSE:AGN) and Halliburton Company (NYSE:HAL). (MarketWatch)

  • Finally, McDonald's Corporation (NYSE:MCD) and Yum! Brands, Inc. (NYSE:YUM) have issued apologies to consumers in China, amid speculation that one of their suppliers on the mainland was providing their chain restaurants with expired meat. The supplier -- Shanghai Husi Food Company, owned by Illinois-based OSI Group -- has since been shut down. (Marketplace)

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