Schaeffer's Trading Floor Blog
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The major market indexes are poised for a sharp drop this morning, with futures pointed significantly lower ahead of the open. In company news, here are some stocks to watch today:

  • Zynga Inc (NASDAQ:ZNGA) has appointed Regina Dugan -- Google Inc's (NASDAQ:GOOGL) vice president of engineering and the lead for GOOGL's Advanced Technology and Projects unit -- to its board of directors. The move brings ZNGA into compliance with a NASDAQ listing rule, which necessitates that the majority of seats on corporate boards be filled by independent directors. (TechCrunch)

  • International Business Machines Corp. (NYSE:IBM) has committed to spending $3 billion on a pair of semiconductor research programs, in order to develop technology capable of producing smaller, yet more powerful, microchips. At the same time, however, IBM reportedly intends to sell its chip-manufacturing business to Globalfoundries Inc. (Bloomberg)

  • United Continental Holdings Inc (NYSE:UAL) reported yesterday that an important revenue measure -- specifically, passenger revenue per available seat mile -- rose a better-than-expected 3.5% year-over-year last quarter. The growth was fueled by strong business in the U.S. and Asia, and complements UAL's ongoing cost-cutting measures. (Reuters)

  • Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and Sanofi SA (ADR) (NYSE:SNY) announced their experimental atopic dermatitis treatment, dupilumab, significantly reduced itching and skin lesions on patients during a mid-stage trial. Separately, the drug is being tested for its effectiveness in addressing asthma and nasal polyps. (Reuters)

  • Also, Family Dollar Stores, Inc. (NYSE:FDO) reported quarterly earnings. (CNBC)

  • Finally, several major retailers -- including Amazon.com, Inc. (NASDAQ:AMZN) and Wal-Mart Stores, Inc. (NYSE:WMT) -- are pulling a home decoration poster featuring a concentration camp sign from Nazi Germany. "We were horrified to see that this item was on our site. We sincerely apologize, and worked quickly to remove it," a WMT spokesperson said. (Consumerist)


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