Schaeffer's Trading Floor Blog

Buzz Stocks: Facebook Inc (FB), Toyota Motor Corp (ADR), Wal-Mart Stores, Inc., and Sotheby's

Today's stocks to watch in the news include FB, TM, WMT, and BID

by 3/26/2014 8:51 AM
Stocks quoted in this article:

In the wake of post-close speeches from St. Louis Fed President James Bullard and Philadelphia Fed President Charles Plosser -- both of whom expressed concerns about raising short-term interest rates -- futures are sitting solidly in the green ahead of the open. In company news, here are some stocks to watch today:

  • Facebook Inc (NASDAQ:FB) has reached a $2 billion agreement to buy Oculus VR, which produces virtual reality headsets such as the Oculus Rift. "Oculus has the potential to be the most social platform ever," FB CEO Mark Zuckerberg said. "Imagine sharing not just moments with your friends online, but entire experiences and adventures." (TIME)

  • Toyota Motor Corp (ADR) (NYSE:TM) announced plans to buy back stock for the first time since February 2009. The automaker intends to repurchase up to 60 million shares -- roughly half of which it will retire, with the remainder sold at a discount to the Toyota Mobility Foundation to fund future efforts. (Bloomberg Businessweek)

  • Wal-Mart Stores, Inc. (NYSE:WMT) has issued a recall on the "My Sweet Love/My Sweet Baby Cuddle Care Baby Doll" due to safety concerns. According to the U.S. Consumer Product Safety Commission, the doll's chest is capable of overheating. In fact, WMT has already received a dozen customer complaints, including a couple that involve burns. (Boston.com)

  • Sotheby's (NYSE:BID) is being sued by Daniel Loeb's Third Point LLC for implementing a poison pill that prevents the hedge fund from altering the auction house's board and amassing a larger stake in the company. Third Point described the provision as an "improper attempt by the directors of Sotheby's to entrench themselves in office and to hinder Third Point's or any other stockholder's ability to run an effective proxy contest." (The New York Times)

  • Also, PVH Corp (NYSE:PVH) reported quarterly earnings. (MarketWatch)

  • Finally, former Wells Fargo & Co (NYSE:WFC) branch manager Ivette Ros is suing the bank after allegedly being fired for bringing a handgun to work. WFC prohibits employees from carrying guns into the workplace, but Ros claims this is a violation of her constitutional rights. (MarketWatch)


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