Schaeffer's Trading Floor Blog

Buzz Stocks: QUALCOMM, Inc., Cisco Systems, Inc., China Mobile Ltd. (ADR), and Burger King Worldwide Inc

Today's stocks to watch in the news include QCOM, CSCO, CHL, and BKW

by 8/14/2014 9:21 AM
Stocks quoted in this article:

Positive developments in the contentious relationship between Russia and Ukraine have U.S. equities sitting in the green ahead of the bell. In company news, here are some stocks to watch today:

  • Amid an antitrust investigation by regulators in China, QUALCOMM, Inc. (NASDAQ:QCOM) has been accused of bribing a government-contracted consultant to gain support. While that individual has been dismissed, a QCOM spokesperson denied her company ever paid the investigator "huge rewards" -- as alleged by the Chinese government -- and had no direct financial dealings with the antitrust expert. (Reuters)

  • While Cisco Systems, Inc. (NASDAQ:CSCO) announced better-than-expected fiscal fourth-quarter results last night, the firm also announced it will cut 6,000 positions, equivalent to roughly 8% of its workforce. (CNBC)

  • After Chinese officials directed wireless carriers to reduce their marketing costs, China Mobile Ltd. (ADR) (NYSE:CHL) announced it will slash its subsidy budget for mobile devices by $2 billion. That's roughly 38% less than what CHL had planned to spend. (Bloomberg)

  • Another day, another menu change at Burger King Worldwide Inc (NYSE:BKW). Days after adding Chicken Fries back to its menu -- albeit on a limited-time-only basis -- BKW is phasing out its lower-fat Satisfries at two-thirds of its locations. (Bloomberg)

  • Finally, retailers Wal-Mart Stores, Inc. (NYSE:WMT) and Kohl's Corporation (NYSE:KSS) reported quarterly earnings. (Reuters, via CNBC; MarketWatch)

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