Schaeffer's Trading Floor Blog

Buzz Stocks: Pandora Media Inc (P), JPMorgan Chase & Co, General Motors, and Starbucks Corporation (SBUX)

Today's stocks to watch in the news include P, JPM, GM, and SBUX

by 9/17/2013 9:38 AM
Stocks quoted in this article:

Ahead of tomorrow's Federal Open Market Committee (FOMC) policy statement, the broad-market indexes are positioned for another day of gains, with futures pointed slightly higher. In company news, here are some stocks to watch today:

  • In an attempt to fund capital expenditures and potential acquisitions in the future, Pandora Media Inc (NYSE:P) is selling 10 million shares worth as much as $230.8 million. On top of that, Crosslink Capital Inc. will sell another 4 million shares. (Forbes)

  • JPMorgan Chase & Co (NYSE:JPM) will pay upwards of $750 million to settle American and British investigations into Bruno Iksil's ill-placed investments in derivatives, anonymous sources have said. The "London Whale" controversy cost the bank over $6.2 billion last year, and will likely result in sanctions from the Federal Reserve, the U.S. Securities and Exchange Commission, and other agencies. (Bloomberg)

  • General Motors Company (NYSE:GM) says it is working to develop an electric car capable of traveling 200 miles per charge, and costing roughly $30,000. From a performance standpoint, the vehicle would be a vast improvement over GM's current Chevrolet Volt hybrid, which gets only 38 miles on electric power before switching to gasoline. (ABC News)

  • According to The Wall Street Journal, a group of Barrick Gold Corporation (USA) (NYSE:ABX) shareholders are demanding changes to the gold producer's boardroom. In particular, they are pushing for co-chairman Peter Munk to speed up the transfer power to his peer, John Thornton, while a hedge fund is targeting operational problems and the salaries of ABX's board of directors. (The Globe and Mail)

  • By the end of 2013, Google Inc's (NASDAQ:GOOG) Analytics service will no longer be compatible with Microsoft Corporation's (NASDAQ:MSFT) Internet Explorer 8. Despite being released four years ago, the browser still has a global market share of 8%, likely because Windows XP is unable to upgrade to IE9 or IE10. (TechCrunch)

  • China is soon to become Starbucks Corporation's (NASDAQ:SBUX) second-largest market, bumping Canada to third place in the rankings. The coffee chain will open its 1,000th Chinese location before the end of the year, and already has two flagship stores in the world's most populous nation. (USA Today)

  • The prestigious Wharton School of Business will launch a radio station on Sirius XM Radio Inc (NASDAQ:SIRI), starting in 2014. Round-the-clock programming will address key issues such as customer satisfaction, entrepreneurship, and women in business, as well as the inner workings of the retail and sports industries. (Bloomberg Businessweek)

  • Finally, during a study of seven shows from April 30 to Sept. 5, social media analysis firm NetBase found NBC and Fox to be the most talked-about television networks. The buzz was powered by shows such as NBC's The Voice -- which was mentioned over 5 million times across Twitter, Facebook Inc (NASDAQ:FB), and other forums -- and Fox's American Idol and New Girl. (Mashable)

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