Schaeffer's Trading Floor Blog

Buzz Stocks: Facebook Inc (FB), Microsoft Corporation (MSFT), BlackBerry Ltd, and Wells Fargo & Co

Today's stocks to watch in the news include FB, MSFT, BBRY, and WFC

by 10/2/2013 9:17 AM
Stocks quoted in this article:

Although the stock market was up yesterday, the government shutdown has begun weighing on investor confidence, with futures pointed south in pre-market trading. At 3:00 p.m. ET, Fed Chairman Ben Bernanke is scheduled to speak. In company news, here are some stocks to watch today:

  • In an attempt to get more interaction with its app advertisers, Facebook Inc (NASDAQ:FB) is now allowing them onto its mobile users' news feeds. The marketing spots will call attention to everything from new levels on gaming apps, to sales promotions on retail apps. (USA Today)

  • Reuters is reporting that three of Microsoft Corporation's (NASDAQ:MSFT) top 20 investors are pushing for Bill Gates to step down from his role as chairman of the board. Elsewhere, Ford Motor Company (NYSE:F) CEO Alan Mulally says he has no plans to leave the automaker for MSFT, where CEO Steve Ballmer is on the way out. (TechCrunch; USA Today)

  • In a Securities and Exchange Commission filing, BlackBerry Ltd (NASDAQ:BBRY) revealed extreme financial and structural problems that will require drastic measures to remedy. Specifically, the mobile phone maker said it anticipates incurring charges of $400 million through the balance of the fiscal year ($300 million higher than previous estimates), laying off two-fifths of its workforce, and writing down $1 billion in unsold inventory. (MarketWatch)

  • A group of nearly 600 McDonald's Corporation (NYSE:MCD) stores will be testing an electronic loyalty program meant to lure in younger customers. The mobile app will reward regular diners with free food, "buy-one, get-one" deals, and other promotions. (Bloomberg)

  • New York attorney general Eric Schneiderman is preparing to file a lawsuit against Wells Fargo & Co (NYSE:WFC) for dismissing the terms of a multibillion-dollar foreclosure-abuse settlement. The 2012 agreement required five of the nation's largest banks to comply with 300-plus servicing standards, but Schneiderman has fielded complaints that cast doubt on WFC's compliance. (The New York Times)

  • Cargill Inc is on the brink of acquiring Archer Daniels Midland Company's (NYSE:ADM) cocoa business for an estimated price of up to $2 billion. In so doing, Cargill would become big enough to compete against Barry Callebaut, the world's leading cocoa-products merchant, which earlier this year bought Petra Foods' cocoa ingredients division. (Reuters)

  • Finally, for years, the University of Florida has been generating income from one unexpected source Gatorade. The school where the sports drink was developed has received 20% of Gatorade's annual profits since 1973, earning an estimated $150 million in tax-free royalties. (Celebrity Networth)


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