Schaeffer's Trading Floor Blog

Buzz Stocks: Tesla Motors Inc (TSLA), Novartis AG (ADR), Allergan, Inc., and Pfizer Inc.

Today's stocks to watch in the news include TSLA, NVS, AGN, and PFE

by 4/22/2014 9:11 AM
Stocks quoted in this article:

The major market indexes are bobbing around breakeven this morning, as investors await the latest existing home sales data. In company news, here are some stocks to watch today:

  • Tesla Motors Inc (NASDAQ:TSLA) delivered its first cars to China yesterday. CEO Elon Musk, who was on hand for the launch event, also announced plans to manufacture vehicles in China within the next three to four years, and build a nationwide battery charging network by next year. (CNNMoney)

  • Novartis AG (ADR) (NYSE:NVS) agreed to buy GlaxoSmithKline plc's (ADR) (NYSE:GSK) cancer drugs for up to $16 billion, and sell most of its vaccines division to GSK for $7.1 billion. Additionally, NVS reached an agreement to sell its animal-health business to Eli Lilly and Co (NYSE:LLY) for $5.4 billion. (Bloomberg)

  • Valeant Pharmaceuticals Intl Inc (NYSE:VRX) has partnered with Bill Ackman's Pershing Square Capital Management LP in a bid to buy Botox maker Allergan, Inc. (NYSE:AGN). The $45 billion deal offers to pay $48.30 in cash and 0.83 shares of VRX common stock for each AGN share -- giving Allergan shareholders a 43% stake in the combined pharmaceutical company. (Associated Press, via ABC News)

  • Pfizer Inc. (NYSE:PFE) will pay $190 million to settle a class action lawsuit that charged the pharmaceutical giant with unnecessarily delaying the release of generic versions of the epilepsy treatment Neurontin. Measures PFE allegedly took in order to stall manufacturing of generics include promoting the drug for unapproved applications, and filing fraudulent patent infringement lawsuits. (Reuters)

  • Also, McDonald's Corporation (NYSE:MCD), Travelers Companies Inc (NYSE:TRV), Lockheed Martin Corporation (NYSE:LMT), and Netflix, Inc. (NASDAQ:NFLX) reported quarterly earnings. (CNBC; Reuters; Bloomberg Businessweek)

  • Finally, PepsiCo, Inc.'s (NYSE:PEP) Frito-Lay is selling three mystery flavors of Doritos chips to gauge public interest in the potential new offerings. The packages don't provide any hints of how the chips taste, and can be differentiated only by the label color (blue, red, and yellow) and a generic test flavor number. (Consumerist)

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