Schaeffer's Trading Floor Blog

Buzz Stocks: Signet Jewelers Ltd., Kellogg Company, BlackBerry Ltd, and Verizon Communications Inc.

Today's stocks to watch in the news include SIG, K, BBRY, and VZ

by 2/19/2014 9:17 AM
Stocks quoted in this article:

Futures are pointed lower this morning, with investors looking ahead to the release of the Federal Open Market Committee (FOMC) meeting minutes this afternoon. In company news, here are some stocks to watch today:

  • Signet Jewelers Ltd. (NYSE:SIG) has agreed to purchase Zale Corporation (NYSE:ZLC) for roughly $1.4 billion, or $21 per ZLC share. The acquisition will help SIG increase its lead as the largest jewelry operator in the country, with more than 3,500 retail stores across multiple brands, including Jared and Kay. (Bloomberg Businessweek)

  • Kellogg Company (NYSE:K) said it's committed to buying only responsibly sourced palm oil, which doesn't negatively impact tropical rainforests. Responding to the requests of several environmental groups, K will now work strictly with suppliers who can prove (via independent inspection) that their plantations uphold standards to protect the environment, as well as human rights. (AP, via SFGate)

  • Typo Products LLC -- which produces an Apple Inc. (NASDAQ:AAPL) iPhone case that features a working keyboard -- has asked a federal court to find BlackBerry Ltd's (NASDAQ:BBRY) patents invalid, so that Typo can resume selling its smartphone cases. Typo claims that one of the disputed patents is unenforceable because the design was already widely available in 1988, before BBRY received patent approval. (Bloomberg)

  • In return for selling its 45% stake in Verizon Wireless to Verizon Communications Inc. (NYSE:VZ), Vodafone Group Plc (ADR) (NASDAQ:VOD) will receive nearly 1.3 billion VZ shares. Some of those shares will be distributed to VOD investors on Feb. 24, in addition to a cash payment on March 4. (MarketWatch)

  • Also, Herbalife Ltd. (NYSE:HLF), Panera Bread Co (NASDAQ:PNRA), and MGM Resorts International (NYSE:MGM) reported quarterly earnings. (Reuters; MarketWatch)

  • Finally, Chevron Corporation (NYSE:CVX) is apologizing to residents in northwestern Pennsylvania for a fracking-related explosion and fire with a coupon for a free large pizza and soda. Approximately 100 local residents received the gift certificates, which are redeemable at Bobtown Pizza. (Consumerist)

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