Schaeffer's Trading Floor Blog

Buzz Stocks: Lululemon Athletica inc., Oracle Corporation, The Boeing Company, and Wisconsin Energy Corp

Today's stocks to watch in the news include LULU, ORCL, BA, and WEC

by 6/23/2014 8:57 AM
Stocks quoted in this article:

Futures are sitting below breakeven ahead of the bell, as investors await a glut of economic data this morning, including the flash purchasing managers index (PMI) for June and the latest existing home sales data. In company news, here are some stocks to watch today:

  • Lululemon Athletica inc. (NASDAQ:LULU) founder Dennis Wilson is reportedly turning up the heat on the embattled retailer by partnering with Goldman Sachs Group Inc (NYSE:GS) to push for possible changes to the board, a private equity buyout, or a divestment of his 27% stake in the company. Over the weekend, LULU responded in a statement, saying it is "focused on further strengthening the company's product engine and relentlessly innovating to drive global expansion and create value for Lululemon shareholders." (Bloomberg Businessweek)

  • Oracle Corporation (NYSE:ORCL) said it will pay $5.3 billion to buy MICROS Systems, Inc. (NASDAQ:MCRS). If the acquisition is finalized, it would be ORCL's largest since purchasing Sun Microsystems for $5.6 billion, roughly five years ago. (Reuters)

  • The Pentagon's missile defense system, managed by The Boeing Company (NYSE:BA), scored its first successful test since 2008 yesterday. The news comes amid reports that BA's nearly $3.5 billion contract with the Pentagon will be restructured in order to encourage quality over cost reduction, due to the program's historical underperformance. (Newsday; Reuters, via CNBC)

  • Wisconsin Energy Corp (NYSE:WEC) reached an agreement to buy Integrys Energy Group, Inc. (NYSE:TEG) for roughly $5.7 billion in stock and cash -- about a 17% premium to TEG's market capitalization from Friday. The utility companies will merge to form WEC Energy Group, and will service over 4.3 million customers in the Upper Midwest. (The New York Times)

  • Finally, for the fifth consecutive year, McDonald's Corporation (NYSE:MCD) finished last among 12 national eateries and cafes in the American Customer Satisfaction Index. On the other hand, Yum! Brands, Inc.'s (NYSE:YUM) Pizza Hut finished in first place. (Consumerist)

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