Schaeffer's Trading Floor Blog

Buzz Stocks: Office Depot, Dell, Bank of America, and Apple Inc. (AAPL)

Among today's stocks in the news to watch are ODP, DELL, BAC, and AAPL

by 2/20/2013 9:09 AM
Stocks quoted in this article:

With a slew of economic data scheduled for release today, U.S. stock futures are treading water ahead of the open. In specific company news, here are some stocks to watch today:

  • Amid forging terms of a deal to take itself private, Dell Inc. (NASDAQ:DELL) stepped into the earnings confessional. The PC maker announced adjusted earnings of 40 cents per share for its fiscal fourth quarter, exceeding analysts' expectations by a penny. Revenue slipped 11% to $14.3 billion from the previous year. (USA Today)

  • Quickly confirming rumors that began churning yesterday, office-supply retailers Office Depot Inc (NYSE:ODP) and OfficeMax Incorporated (NYSE:OMX) have agreed to an all-stock merger worth $1.17 billion. Under the deal's terms, OMX shareholders will receive 2.69 shares of common ODP stock for each OMX share owned. (Chicago Tribune)

  • Some Apple Inc. (NASDAQ:AAPL) employees using Macintosh computers were targeted by cyber hackers on Tuesday. Apple has identified the malware utilized in the attack and released software to repair any bugs. In other news, the electronics manufacturing behemoth Foxconn has announced a hiring freeze at most of its factories in China, due to slowing demand for the iPhone 5. (Reuters; The Financial Times)

  • As contract talks between The Boeing Company (NYSE:BA) and its engineers union move toward a mutually satisfying completion, the aerospace firm has additional good news to share on the Dreamliner 787 front. One source reports BA has discovered how to fix problems that caused the jet's battery to overheat, and is hopeful the Dreamliner can take to the skies again by early April. (CNBC)

  • The face of the Yahoo! Inc. (NASDAQ:YHOO) homepage will begin changing dramatically today, as the search company tries to build a more personalized experience for its users. The last major redesign of this page was in 2009. (TechCrunch)

  • Bank of America Corp (NYSE:BAC) CEO Brian Moynihan has some extra spending money this year, as the bank lifted his total compensation package by roughly 70% in 2012. Specifically, he was given $11.1 million in restricted shares, bringing his total pay to just over $12 million, a nice boost from the $7 million he earned in 2011. (CNNMoney)

  • Following last week's news of a Warren-Buffett-led buyout, H.J. Heinz Company (NYSE:HNZ) is facing insider-trading allegations. The Securities and Exchange Commission is investigating roughly $1.7 million in call options that were purchased ahead of the buyout announcement. (Pittsburgh Post-Gazette)

  • In an altruistic gesture to raise money for local schools, a Brooklyn man collected and submitted 75,000 box tops from cereal, snacks, and paper products. At issue is the man's potentially questionable partnership with a wholesale retailer -- who supplied thousands of the tops for the cause. Program founder Scott Brands has assigned a private investigator to the case. (Consumerist)


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