Schaeffer's Trading Floor Blog

Buzz Stocks: Bank of America, NVIDIA, Netflix, and Walt Disney

Today's hot stocks to watch in the news include BAC, NVDA, NFLX, and DIS

by 1/7/2013 9:07 AM
Stocks quoted in this article:

U.S. stock futures are set to begin today's session in negative territory, as investors get ready for the next earnings season. Turning to company news, here are some names to watch today:

  • Bank of America Corp (NYSE:BAC) has agreed to pay billions to Fannie Mae, in order to "substantially resolve outstanding claims for compensatory fees." Essentially, BAC is on the hook for over $10 billion because loans created by Countrywide Financial Corp. -- part of BAC since 2008 -- were allegedly based on faulty information and resulted in multi-billion dollar losses for Fannie Mae and other mortgage buyers. BAC CEO claims, "These agreements are a significant step in resolving our remaining legacy mortgage issues, further streamlining and simplifying the company and reducing expenses over time." With this settlement on the books, BAC is up slightly in pre-market trading. (Bloomberg)

  • The Walt Disney Company (NYSE:DIS) is looking for ways to cut costs, which could include layoffs at its studio, interactive divisions, and music department. In November, DIS warned that lagging home video sales and increasing cost of sports rights would curtail growth at the global entertainment conglomerate. Commenting on the recent speculations, a DIS spokeswoman added, "We are constantly looking at eliminating redundancies and creating greater efficiencies, especially with the rapid rise in new technology." (Reuters)

  • A top Roche Holding AG executive indicated plans to acquire Illumina, Inc. (NASDAQ:ILMN) are "off the table," ending 13 months of speculation surrounding a potential buyout. An acquisition isn't out of the question down the road, according to one New York-based analyst, however, as ILMN remains an attractive takeover target. ILMN shares are down nearly 8% in pre-market trading. (Bloomberg)

  • Video game hardware components maker NVIDIA Corporation (NASDAQ:NVDA) will enter a new realm with its very own gaming console. At the Consumer Electronics Show (CES), NVDA announced plans for a portable gaming device -- the effort is dubbed Project Shield -- that can run its own software and stream games running on home computers. Plus, the device can wirelessly feed images from its small screen to larger high-definition TVs. No word on cost or when the gadget will be available, but if the buzz at CES is any indication, Project Shield could make waves in the gaming world. (The Wall Street Journal)

  • Netflix, Inc. (NASDAQ:NFLX) is expanding its streaming-video library with selections from Warner Bros. Television (a unit of Time Warner Inc [NYSE:TWX]). Among the eight titles included in the deal are the new post-apocalyptic series "Revolution," as well as the upcoming Kevin-Bacon-led FBI drama "The Following." The agreement also leaves the door open for NFLX to have streaming access to additional future shows. (Reuters)

  • Finally, those looking for their 15 minutes (or rather, seconds) of fame, Pizza Hut may be your answer. The Yum! Brands, Inc. (NYSE:YUM) chain is finding up to 10 contest winners to star in a Super Bowl commercial (the concept of which is a play on the quarterback mantra "Hut. Hut. Hut." -- get it?) Contest hopefuls are encouraged to promote their 15-second auditions via social media outlets such as Twitter. (USA Today)

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