Schaeffer's Trading Floor Blog

Buzz Stocks: Pfizer Inc., Toyota Motor Corp (ADR), Mylan Inc, and Comcast Corporation

Today's stocks to watch in the news include PFE, TM, MYL, and CMCSA

by 4/28/2014 9:35 AM
Stocks quoted in this article:

The stock market is flirting with a triple-digit gain this morning, as investors look ahead to the latest pending home sales data and the Dallas Fed's manufacturing survey. In company news, here are some stocks to watch today:

  • Despite having two buyout bids rejected, Pfizer Inc. (NYSE:PFE) confirmed it is still interested in acquiring AstraZeneca plc (ADR) (NYSE:AZN), though the former's weekend attempts to discuss matters with the U.K.-based pharmaceutical firm were rebuffed. AZN has previously said Pfizer's $100 billion buyout offer undervalues the firm "very significantly." (Reuters)

  • Toyota Motor Corp (ADR) (NYSE:TM) will reportedly transfer a significant part of its Torrance, Calif.-based U.S. headquarters to a suburb of Dallas. While the plans are not yet public, insiders said TM's sales unit will be the first to move, although the sources added that several other divisions could follow suit over the next two years. (The Detroit News)

  • Mylan Inc's (NASDAQ:MYL) latest bid to purchase rival Meda AB for $6.7 billion was rejected. "The board's decision is based on a strong belief in the continued potential of Meda as a stand-alone company and the assumption that a transaction cannot be completed as it lacks sufficient support from Meda's largest shareholder," the Sweden-based drugmaker said. (Bloomberg)

  • Comcast Corporation (NASDAQ:CMCSA) and Charter Communications, Inc. (NASDAQ:CHTR) have agreed to a three-part business plan, contingent upon the former acquiring Time Warner Cable Inc (NYSE:TWC). Specifically, CHTR will first receive 1.4 million customers from its larger rival; subsequently, the companies will exchange 1.6 million subscribers; finally, Comcast will spin off a new publicly traded entity in which Charter will have a 33% stake. (The New York Times)

  • Also, Corning Incorporated (NYSE:GLW) and Loews Corporation (NYSE:L) reported quarterly earnings. (Reuters; Chicago Tribune)

  • Finally, The Other Woman (distributed by 20th Century Fox) knocked the latest Captain America installment out of the box office's top spot, taking in $24.7 million over its premiere weekend. Not surprisingly, the film -- in which three women get revenge on a serial cheater -- played to a largely female audience; in fact, three-quarters of those who watched the movie were women. (The Los Angeles Times)

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