Schaeffer's Trading Floor Blog

Buzz Stocks: Facebook Inc (FB), Alcoa Inc, Barclays PLC (ADR), and Philip Morris International Inc.

Today's stocks to watch in the news include FB, AA, BCS, and PM

by 6/26/2014 8:59 AM
Stocks quoted in this article:

The major market indexes are sitting slightly in the red ahead of the bell, as investors digest the latest weekly jobless claims report, as well as personal income and spending data. In company news, here are some stocks to watch today:

  • Facebook Inc (NASDAQ:FB) released its corporate diversity numbers for the first time yesterday, following the lead of several other Silicon Valley firms. Among the key statistics, 69% of FB workers are male (including 77% of senior executives), and 53% are white (including 74% of senior management). (CNBC)

  • Alcoa Inc (NYSE:AA) has reached an agreement to buy aerospace parts maker Firth Rixson from Oak Hill Capital Partners, for $2.85 billion in cash and stock. "Firth Rixson increases the earnings power and broadens the market reach of our high-value aerospace portfolio and will deliver compelling and sustainable value for customers and shareholders," AA CEO Klaus Kleinfeld said. (MarketWatch)

  • New York Attorney General Eric Schneiderman filed suit against Barclays PLC (ADR) (NYSE:BCS) for giving "huge informational advantages to high-frequency traders" in its so-called "dark pools." Schneiderman described the alternative trading system as a "sham," and said BCS deceived ordinary investors about the safety of using the pools. (CNBC)

  • Despite cutting its full-year earnings forecast, Philip Morris International Inc. (NYSE:PM) believes the future is bright for its upcoming reduced-risk products, which it has spent over a decade developing. Specifically, next year, PM is planning to release its iQOS device -- which heats tobacco (rather than burning it) to generate a smoking aerosol -- in Italy and Japan, and expects the cigarette alternative to generate $700 million in additional profit within the next four years. (Bloomberg Businessweek)

  • Also, Accenture Plc (NYSE:ACN), ConAgra Foods Inc (NYSE:CAG), and Lennar Corporation (NYSE:LEN) reported quarterly earnings. (Reuters, via FOX Business; MarketWatch)

  • Finally, Google Inc (NASDAQ:GOOGL) executive Kevin Rose decided to sell his historic Portland, Oregon, home, after his plans to tear it down and build a new house were met with a public outcry. Rose explained his decision, saying he wanted to avoid an adversarial relationship with his neighbors and other city dwellers. (Associated Press, via SFGate)

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