Schaeffer's Trading Floor Blog

Buzz Stocks: Google Inc, General Electric Company, Family Dollar Stores, Inc., and AbbVie Inc

Today's stocks to watch in the news include GOOGL, GE, FDO, and ABBV

by 6/20/2014 9:01 AM
Stocks quoted in this article:

Futures are sitting slightly in the red this morning, as we head into quadruple-witching expiration. In company news, here are some stocks to watch today:

  • "Kill switches" -- mechanisms that disable lost or stolen devices in order to prevent theft and/or resale -- will be incorporated into the next generation of Google Inc (NASDAQ:GOOGL) and Microsoft Corporation (NASDAQ:MSFT) mobile operating systems. In September, Apple Inc. (NASDAQ:AAPL) released a kill switch for iOS, and iPhone theft subsequently "plummeted," according to New York Attorney General Eric Schneiderman. (Bloomberg)

  • General Electric Company's (NYSE:GE) financial division, GE Capital Retail Bank, is being forced to pay $225 million in refunds to cardholders. The Consumer Financial Protection Bureau found that the bank not only misled consumers about specific add-on products like debt cancelation, but also discriminated against Puerto Rican and Spanish-speaking customers when providing debt-relief offers. (CNNMoney)

  • Activist investor Carl Icahn is pushing for an immediate sale of Family Dollar Stores, Inc. (NYSE:FDO). "There would be significant interest from strategic and financial buyers who could recognize massive synergies from an acquisition," Icahn said in a letter to FDO CEO Howard Levine, adding, "Now is a perfect time to sell, given the advantageous stock market and interest rate environment." (Bloomberg Businessweek)

  • AbbVie Inc's (NYSE:ABBV) third bid to buy British pharmaceutical concern Shire PLC (ADR) (NASDAQ:SHPG) was rejected yesterday. SHPG's board said the offer undervalued the company and cut off shareholders from future growth; in addition, they cited "execution risks associated with the proposed inversion structure." (BBC News Business)

  • Elsewhere, CarMax, Inc. (NYSE:KMX), Darden Restaurants, Inc. (NYSE:DRI), and Oracle Corporation (NYSE:ORCL) reported quarterly earnings. (MarketWatch; Bloomberg; Bloomberg Businessweek)

  • Finally, Kraft Foods Group Inc (NASDAQ:KRFT) has recalled a batch of Velveeta "cheese" shipped to certain Wal-Mart Stores, Inc. (NYSE:WMT) locations due to a lack of preservatives. KRFT is concerned the Velveeta will spoil too quickly, which could make people sick. (Chicago Tribune)


permanent link
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.