Schaeffer's Trading Floor Blog

Buzz Stocks: Ford Motor Company, Mattel, Inc., PepsiCo, Inc., and ITT Educational Services, Inc.

Today's stocks to watch in the news include F, MAT, PEP, and ESI

by 2/28/2014 9:09 AM
Stocks quoted in this article:

Futures are little changed this morning, as investors await the latest batch of economic data, due out shortly. In company news, here are some stocks to watch today:

  • Earlier this week, Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) extended deep discounts on many vehicles through the end of March. The automakers are especially promoting their full-size pickups, with Ford's 2014 F-150 and Chevy's 2014 Silverado discounted by more than $8,000 and $9,000, respectively. (Reuters, via CNBC)

  • Mattel, Inc. (NASDAQ:MAT) has agreed to purchase Mega Bloks maker Mega Brands Inc. for $460 million. The two companies already have a working relationship, as they've been developing construction toys together -- centered on MAT's Barbie and Hot Wheels brands -- since 2012. (Bloomberg Businessweek)

  • PepsiCo, Inc.'s (NYSE:PEP) board of directors has rebuffed another attempt by activist investor Nelson Peltz to see the company spin off its beverage business. "In short, the board and management have concluded that the financial engineering you propose erodes value for shareholders rather than creates value," PEP board director Ian Cook wrote to Peltz's firm, Trian Fund Management. (Reuters)

  • ITT Educational Services, Inc. (NYSE:ESI) is being sued by the Consumer Financial Protection Bureau for allegedly pressuring students into accepting predatory loans. Interest rates were extremely high on the loans -- as much as 16.25% for 10 years, with a 10% origination fee. (CNBC)

  • Also, The Gap Inc. (NYSE:GPS) and Salesforce.com, inc. (NYSE:CRM) reported quarterly earnings. (Bloomberg Businessweek; Reuters)

  • Finally, Amazon.com, Inc. (NASDAQ:AMZN) is in talks with music labels to provide a streaming music service to Amazon Prime customers. However, one inside source said that AMZN is requesting steeper-than-usual discounts from the labels, meaning that eventual deals can't be taken for granted. (Re/code)


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