Schaeffer's Trading Floor Blog

Buzz Stocks: Microsoft Corporation, Reynolds American, Inc., Google Inc, and CVS Caremark Corporation

Today's stocks to watch in the news include MSFT, RAI, GOOGL, and CVS

by 7/15/2014 9:04 AM
Stocks quoted in this article:

A flurry of solid earnings reports from several major companies has stocks sitting north of breakeven ahead of the bell. In company news, here are some names to watch today:

  • According to Bloomberg, Microsoft Corporation (NASDAQ:MSFT) is planning a round of layoffs that could exceed the 5,800 jobs the firm cut five years ago. The reductions -- which are expected to be formally announced as early as this week -- are the result of MSFT acquiring Nokia Oyj's handset unit, which has left the former with a much larger payroll than several of its Silicon Valley peers. (Reuters, via CNBC)

  • Reynolds American, Inc. (NYSE:RAI) agreed to buy fellow cigarette maker Lorillard Inc. (NYSE:LO) for $27.4 billion in cash, stock, and new debt. At the same time, U.K.-based Imperial Tobacco Group Plc will purchase the Kool brand as well as blu e-cigarettes, currently owned by RAI and LO, respectively. (Los Angeles Times)

  • Google Inc's (NASDAQ:GOOGL) Nest Labs has joined with several other major tech names to launch the nonprofit Thread Group, designed to enhance and streamline the so-called "Internet of Things" (IOT). The IOT concept focuses on building electronics, appliances, and other devices that can communicate with each other within a home, via a common language. A similar group -- known as the Open Interconnect Consortium -- formed just last week. (CNET)

  • CVS Caremark Corporation (NYSE:CVS) has agreed to acquire Navarro Discount Pharmacy, the largest Hispanic-owned drugstore chain in the country, for an undisclosed sum. Navarro's 33 locations -- which will retain their highly recognizable name -- focus on Hispanic consumers by offering products rarely sold in traditional pharmacies, such as designer fragrances and mobile phones, CEO Juan M. Ortiz said last year. (Miami Herald Business)

  • Also, Goldman Sachs Group Inc (NYSE:GS), Johnson & Johnson (NYSE:JNJ), and JPMorgan Chase & Co. (NYSE:JPM) reported quarterly earnings. (Reuters; CNBC; The New York Times)

  • Finally, the iconic Trump Plaza Hotel and Casino in Atlantic City, New Jersey, will close its doors in September. The hotel was nearly sold last year, but activist investor Carl Icahn -- who owns the mortgage on Trump Plaza -- rejected the deal, claiming the $20 million offer undervalued the property. (The Washington Post)

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