Schaeffer's Trading Floor Blog

Buzz Stocks: Google Inc, Time Warner Inc, Hershey Co, and International Game Technology

Today's stocks to watch in the news include GOOGL, TWX, HSY, and IGT

by 7/16/2014 9:05 AM
Stocks quoted in this article:

Futures are sitting solidly in the black this morning, with investors looking ahead to a flurry of economic data and Fed Chair Janet Yellen's second day on Capitol Hill. In company news, here are some stocks to watch today:

  • Former Ford Motor Company (NYSE:F) CEO Alan Mulally was appointed to Google Inc's (NASDAQ:GOOGL) board of directors earlier this month, the Internet giant announced last night. "I look forward to working together with the Google board and management team to continue to deliver their compelling vision," Mulally wrote on the blog post, where the news was announced. (FOX Business)

  • Time Warner Inc (NYSE:TWX) is soaring ahead of the bell, on reports that the media and entertainment firm rebuffed an $80 billion takeover proposal from Rupert Murdoch's Twenty-First Century Fox Inc (NASDAQ:FOXA). However, The New York Times believes TWX could be pressured to negotiate a deal, since roughly 70% of the company's shareholders also own FOXA stock. (USA Today)

  • Rising cocoa prices have forced Hershey Co (NYSE:HSY) to raise its chocolate prices for the first time since 2011. The approximately 8% price hike will take effect immediately on packaged candy and grocery products. (Reuters, via Chicago Tribune)

  • Italy-based lottery system maker Gtech SpA reached a $4.7 billion cash-and-stock agreement to buy International Game Technology (NYSE:IGT), the world's largest manufacturer of slot machines. "This is a transaction that we firmly believe will transform the gaming industry," said Gtech CEO Marco Sala, who will head up the combined company. "We will have a library of games that will surpass that of any other company in the industry." (Bloomberg)

  • Apple Inc. (NASDAQ:AAPL) and International Business Machines Corp. (NYSE:IBM) announced a new partnership, "putting IBM's renowned big data analytics at iOS users' fingertips," according to AAPL CEO Tim Cook. As part of the deal, IBM will develop industry-specific iOS apps and will sell iPads and iPhones to business clients. (Apple Insider)

  • Also, Intel Corporation (NASDAQ:INTC), Bank of America Corp (NYSE:BAC), and Yahoo! Inc. (NASDAQ:YHOO) reported quarterly earnings. (CNBC; The New York Times; Barron's)

  • Finally, scientists at U.K.-based Surrey Nanosystems have created the "world's darkest material" -- Vantablack -- for use in electro-optical imaging and target-acquisition technology. The material -- which can coat apertures, optical sensors, and other equipment -- is the fruit of two years of development and testing. (CNET)

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