Schaeffer's Trading Floor Blog

Buzz Stocks: Safeway Inc., The Boeing Company, Facebook Inc (FB), and Amazon.com, Inc.

Today's stocks to watch in the news include SWY, BA, FB, and AMZN

by 3/7/2014 9:21 AM
Stocks quoted in this article:

U.S. stock futures have surged higher ahead of the open, as investors digest February's better-than-expected nonfarm payrolls report. In company news, here are some names to watch today:

  • Safeway Inc. (NYSE:SWY) is weighing a buyout offer from private equity firm Cerberus Capital Management. Under the primarily cash deal, the country's second-largest grocer would be under the same umbrella as Albertson's (the fifth largest), with shareholders collecting roughly $40 per share. The arrangement may not be completely buttoned up, however, as The Kroger Co. (NYSE:KR) reportedly has its eyes on its smaller rival as well, and may be working to trump Cerberus' offer. (Forbes)

  • The Boeing Company (NYSE:BA) reported that its nonunion salaried staff -- about 68,000 employees -- will see their traditional pension payments frozen beginning in 2016. The current pension plan, which distributes a fixed monthly benefit, will be swapped out for a retirement savings account to which Boeing will contribute a set annual amount. (The Seattle Times)

  • Facebook Inc (NASDAQ:FB) has started to roll out the latest iteration of its News Feed, which is aesthetically similar to the existing mobile version. The new design eliminates customized news feeds such as "Groups" and "Photos," displays things in a new font, and features larger pictures and story cards. (The Verge )

  • Merchants who peddle their wares on Amazon.com, Inc. (NASDAQ:AMZN) now have access to Amazon Seller, an iOS app with tools to make selling products easier. Available now in the App Store, it is the first Amazon-developed app designed exclusively for sellers. (Mashable)

  • Same-store sales at The Gap Inc. (NYSE:GPS) dropped 7% in February, surprising analysts, who were projecting a 0.9% sales gain. The retailer chalked up the shortcoming to winter weather, which resulted in 450 snow-related closings during the blustery month. (FOX Business)

  • Also, Big Lots, Inc. (NYSE:BIG) and Foot Locker, Inc. (NYSE:FL) announced quarterly earnings. (MarketWatch; NASDAQ)

  • Finally, with more than a month to go before April 15, the average tax refund so far this season is $3,034, or 3% higher than the average refund banked during the same period in 2013. The majority of the $147 billion refunded to taxpayers between Jan. 31 and Feb. 28 was direct deposited. (CNNMoney)


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