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U.S. stocks are pointed lower ahead of the bell, as traders digest the latest big-cap earnings reports. In company news, here are some stocks to watch today:
- General Motors Company (NYSE:GM) is back in the spotlight -- and not in a good way. The beleaguered automaker is recalling more than 140,000 2014 Chevy Malibus due to potentially faulty brakes, and said it will take a second-quarter charge of about $200 million to cover all its recall-related repairs. (USA Today; MarketWatch)
- Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk anticipates a need for "lots of gigafactories" -- hundreds, in fact, he told the World Energy Innovation Forum. The electric automaker is planning to break ground on its first battery factory as early as June, though the location has yet to be determined. (Bloomberg)
- After having its takeover offer rejected by the Gentiva Health Services, Inc. (NASDAQ:GTIV) board, Kindred Healthcare, Inc. (NYSE:KND) is going hostile. The latter company offered $533 million, or $14 per share in cash and stock, for the former healthcare firm. (Reuters)
- The New York Times Company (NYSE:NYT) unexpectedly ousted its top editor, Jill Abramson, replacing her with former Los Angeles Times editor Dean Baquet. Speculation is swirling about the cause of the pink slip, including a report that Abramson confronted NYT execs after discovering her pay and pension benefits fell short of her predecessor's. (Reuters)
- Also, Wal-Mart Stores, Inc. (NYSE:WMT), Cisco Systems, Inc. (NASDAQ:CSCO), and Kohl's Corporation (NYSE:KSS) reported quarterly earnings. (MarketWatch; CNBC)
- Finally, fast food workers around the globe are staging protests today, demanding higher wages and the right to unionize. McDonald's Corporation (NYSE:MCD) workers in the Philippines stepped it up a notch, with up to 75 people participating in a flash mob to "Let It Go," the hit song from The Walt Disney Company's (NYSE:DIS) Frozen.