Schaeffer's Trading Floor Blog

Buzz Stocks: Facebook Inc (FB), General Motors Company, Sony Corp (ADR), and MannKind Corporation

Today's stocks to watch in the news include FB, GM, SNE, and MNKD

by 6/30/2014 9:01 AM
Stocks quoted in this article:

Futures are pointed slightly lower in pre-market trading, as investors prepare for the release of the latest Chicago purchasing managers index (PMI) and the National Association of Realtors' pending home sales index. In company news, here are some stocks to watch today:

  • Facebook Inc (NASDAQ:FB) researcher Adam D.I. Kramer posted a public apology yesterday for a study conducted by the social network, designed to determine how the number of positive and negative posts users saw impacted the spread of emotions on the Internet. Despite the controversy surrounding it, the study concluded that moods are contagious -- that is, the mood of the content people read impacts what they share on social media outlets. (The New York Times, via CNBC)

  • On Friday afternoon, General Motors Company (NYSE:GM) announced an additional four safety recalls, affecting upwards of 428,000 cars and trucks sold in the U.S. Elsewhere, the automaker is expected today to announce its compensation plan for families whose loved ones were killed while driving defective GM vehicles. (CNBC; The New York Times)

  • Sony Corp (ADR) (NYSE:SNE) believes its television unit will finally be profitable this year, following a decade of losses. Masashi Imamura, head of the soon-to-be independent TV division, told reporters that the achievement is the result of a reduction in fixed costs. (Reuters)

  • Following nearly a decade's worth of work, MannKind Corporation (NASDAQ:MNKD) received approval from the U.S. Food and Drug Administration to sell Afrezza, the pharmaceutical issue's inhaled insulin drug. MNKD CEO Matt Pfeffer remarked, "It's very gratifying. We've been working toward this moment for a very long time, so we're thrilled that it's here." (Bloomberg)

  • Finally, according to The Wall Street Journal, The Blackstone Group L.P.'s (NYSE:BX) direct investing effort within its hedge funds business will rely on independent management firms, not BX employees. The private equity company is also reportedly in final negotiations with the first group of traders, who are scheduled to start in the fall. (Reuters)

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