Schaeffer's Trading Floor Blog

Buzz Stocks: Time Warner Cable Inc, Starbucks Corporation, Symantec Corporation, and Zions Bancorporation

Today's stocks to watch in the news include TWC, SBUX, SYMC, and ZION

by 3/21/2014 9:16 AM
Stocks quoted in this article:

The positive momentum from yesterday afternoon is carrying over to this morning, with futures pointed higher ahead of the bell. In company news, here are some stocks to watch today:

  • Robert Marcus -- who served for two months as Time Warner Cable Inc's (NYSE:TWC) chief executive before agreeing to sell the company to Comcast Corporation (NASDAQ:CMCSA) -- will receive roughly $80 million in severance if the deal closes. To put things in perspective, the exit package works out to about $1 million per day that Marcus was at the helm of TWC. (The New York Times)

  • Starbucks Corporation (NASDAQ:SBUX) will begin rolling out the sale of alcoholic drinks to additional stores. Currently, 26 locations offer beer and wine; that number is expected to reach 40 by the end of the year. (Detroit Free Press)

  • After serving for less than two years in his position, Symantec Corporation (NASDAQ:SYMC) CEO Steve Bennett has been fired. Chairman Daniel Schulman denied that the move was the result of any single event or act of impropriety, but added that the company needs an executive to "drive the next stage of Symantec's product innovation and growth." (CNNMoney)

  • Zions Bancorporation (NASDAQ:ZION) was the only lender out of 30 to fail the Federal Reserve's stress test, which requires institutions to have sufficient capital to handle potential financial crises. ZION attributed its lack of capital to lower revenue estimates, higher-than-expected commercial real estate losses, and an accumulation of collateralized debt obligations that have been sold since the test was administered. (Bloomberg Businessweek)

  • Also, Nike Inc (NYSE:NKE), Darden Restaurants, Inc. (NYSE:DRI), and Tiffany & Co. (NYSE:TIF) reported quarterly earnings. (Reuters; MarketWatch; Bloomberg)

  • Finally, a California woman claims she was kicked out of a Planet Fitness Gym for intimidating people with her "toned body." While the Planet Fitness website says the chain is designed to allow members to work out without being "subjected to the hardcore look-at-me-attitude that exists in too many gyms," a spokesperson denied that it was company policy to criticize people for being too fit. (KTVU)

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