Schaeffer's Trading Floor Blog

Buzz Stocks: Netflix, Inc., Bank of America Corp, United Parcel Service, Inc., and Hertz Global Holdings, Inc.

Today's stocks to watch in the news include NFLX, BAC, UPS, and HTZ

by 6/6/2014 9:08 AM
Stocks quoted in this article:

Futures are pointed higher in pre-market trading, as investors digest the latest U.S. nonfarm payrolls report. In company news, here are some stocks to watch today:

  • Verizon Communications Inc. (NYSE:VZ) sent Netflix, Inc. (NASDAQ:NFLX) a cease-and-desist letter yesterday, demanding the streaming content provider stop showing messages to customers that fault VZ's broadband network for slow delivery of programming. Randal Milch, general counsel for VZ, also requested NFLX provide him with the names of customers that have received the disputed notices, or potentially face legal action. (Reuters, via CNBC)

  • According to The Wall Street Journal, Bank of America Corp (NYSE:BAC) could be facing a settlement in excess of $12 billion in order to resolve the Justice Department's numerous investigations into the bank's mortgage practices. Inside sources anticipate upwards of $5 billion will directly benefit affected homeowners, in the way of reduced principal and monthly mortgage payments. (Reuters)

  • United Parcel Service, Inc. (NYSE:UPS) has appointed current Chief Operating Officer David Abney as its next CEO. He will replace outgoing CEO Scott Davis, who will retire on Sept. 1, and assume duties as non-executive chairman. (Bloomberg Businessweek)

  • Hertz Global Holdings, Inc. (NYSE:HTZ) will need to restate its financial results from the past three years due to accounting errors -- including one "material weakness." The car rental firm is also investigating whether similar problems have impacted the current year's results. Ahead of the open, shares of HTZ are down nearly 9% on the news. (MarketWatch)

  • Also, Diamond Foods, Inc. (NASDAQ:DMND), The Men's Wearhouse, Inc. (NYSE:MW), and VeriFone Systems Inc (NYSE:PAY) reported quarterly earnings. (MarketWatch; The Wall Street Journal; Reuters)

  • Finally, the NFL announced the 2016 Super Bowl will drop the Roman numeral system in favor of the Arabic. The league has been using Roman numerals for more than 40 years, but decided to take a one-year break from the convention, since "Super Bowl L" is less aesthetically pleasing than "Super Bowl 50." (ESPN)

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