Schaeffer's Trading Floor Blog

Buzz Stocks: Microsoft Corporation, Orbitz Worldwide, Inc., General Electric Company, and eBay Inc

Today's stocks to watch in the news include MSFT, OWW, GE, and EBAY

by 7/17/2014 9:23 AM
Stocks quoted in this article:

Futures are sitting in the red ahead of the bell, following a fresh round of U.S. and European sanctions against Russia. In company news, here are some stocks to watch today:

  • This morning, Microsoft Corporation (NASDAQ:MSFT) announced it will lay off up to 18,000 workers through the end of the year, with roughly two-thirds coming from its recently acquired Nokia Devices and Services business. MSFT said the cuts will result in pre-tax charges between $1.1 billion and $1.6 billion over the next four quarters, related to severance and other costs. (Re/code)

  • Orbitz Worldwide, Inc. (NYSE:OWW) reported last night that Travelport Ltd. -- the online travel firm's biggest shareholder -- will sell half its stock in the company. As a result, OWW -- which won't receive any proceeds from the sale -- will no longer need to get Travelport's consent on key decisions. (The Wall Street Journal, subscription required)

  • According to inside sources, General Electric Company (NYSE:GE) is seeking a buyer for its iconic home appliance unit, known for its refrigerators and washing machines. While the business remains profitable, GE has been re-focusing its business on the production of more lucrative heavy equipment, such as gas turbines and jet engines. (MarketWatch)

  • Also, UnitedHealth Group Inc. (NYSE:UNH), eBay Inc (NASDAQ:EBAY), Morgan Stanley (NYSE:MS), and Yum! Brands, Inc. (NYSE:YUM) reported quarterly earnings. (MarketWatch; The New York Times; USA Today; Bloomberg)

  • Finally, the owners of the 72-story U.S. Bank Tower are planning to construct an observation deck and restaurant on the 69th, 70th, and 71st floors, allowing visitors to get a panoramic view of surrounding L.A. The owners plan to charge $25 per person to enter the observation deck, which they believe may attract up to 500,000 people annually. (Mashable)

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