Schaeffer's Trading Floor Blog

Buzz Stocks: General Motors Company, Hewlett-Packard Company, Autodesk, Inc., and American Apparel Inc

Today's stocks to watch in the news include GM, HPQ, ADSK, and APP

by 7/1/2014 9:07 AM
Stocks quoted in this article:

U.S. stocks are poised to start the second half of 2014 on a high note, as solid manufacturing data in China has sparked optimism ahead of a pair of domestic manufacturing reports. In company news, here are some stocks to watch today:

  • General Motors Company (NYSE:GM) expanded its recall last night by 8.23 million cars -- bringing its year-to-date total to 29 million vehicles -- and upped the number of ignition-switch-related deaths to at least 16. Separately, the automaker is slated to report June sales today. (Reuters)

  • Hewlett-Packard Company (NYSE:HPQ) confirmed that it reached a settlement with shareholders over its $11 billion purchase of British software firm Autonomy. Under terms of the deal -- which is pending approval in federal court -- claims against HPQ executives will be dropped, and HPQ will work with shareholders to seek legal claims against Autonomy's former CEO and CFO. (San Jose Mercury News)

  • Autodesk, Inc. (NASDAQ:ADSK) last night confirmed that CFO Mark Hawkins is hitting the bricks to fill the CFO slot at Salesforce.com, inc. (NYSE:CRM). In addition, ADSK reiterated its fiscal-year guidance for 2015, and forecast fiscal second-quarter revenue on the high end of expectations. (San Francisco Business Times)

  • American Apparel Inc (NYSEMKT:APP) founder Dov Charney -- recently ousted as chairman and CEO -- is attempting to regain control of the firm, upping his stake to 43%. Charney also called for a special meeting of shareholders on Thursday, Sept. 25. (Reuters, via CNBC)

  • Morgan Stanley (NYSE:MS) is reportedly considering cutting commissions for retail brokers, in an effort to reduce costs. The financial firm is also on the cusp of reducing funds set aside to attract experienced employees, sources said. (Reuters, via CNBC)

  • Finally, look away, foodies: "Doritos Loaded" will be available tomorrow at 7-Eleven stores across the nation. The "inside-out nachos," as they're referred to on social media, are essentially pan-fried Doritos -- produced by PepsiCo, Inc.'s (NYSE:PEP) FritoLay division -- smothered in mozzarella. (USA Today)


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