Schaeffer's Trading Floor Blog

Buzz Stocks: Visa Inc, Microsoft Corporation (MSFT), OpenTable Inc, and Pandora Media Inc (P)

Today's stocks to watch in the news include V, MSFT, OPEN, and P

by 6/14/2013 9:11 AM
Stocks quoted in this article:

U.S. stock futures are treading water slightly above the breakeven mark this morning, as market watchers await a slew of domestic economic reports. Turning to stock news, companies have taken to the courtroom -- here are some names to watch in today's trading:

  • Financial heavyweight Visa Inc (NYSE:V) has filed a complaint against retailing giant Wal-Mart Stores, Inc. (NYSE:WMT), ironically in an effort to stop continued legal wrangling. The credit-card firm hopes to enforce a $7.25 billion settlement -- from which WMT excluded itself -- over the swipe fees merchants are charged when customers user credit cards. (Bloomberg Businessweek)

  • Microsoft Corporation (NASDAQ:MSFT) is bringing its popular Office suite of software -- specifically Word, Excel, and PowerPoint -- to the Apple Inc. (NASDAQ:AAPL) iPhone. The app launches in the U.S. today (though only to Office 365 subscribers), and will be available to international users next week. (Mashable)

  • Online reservation services provider OpenTable Inc (NASDAQ:OPEN) has shelled out $11 million in stock and cash to acquire mobile technology concern JustChalo. The cost of the deal will impact full-year earnings by 2 cents per share in 2013. (Yahoo! News)

  • An impending strike among Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) workers in Indonesia has been avoided, following the suspension of officials deemed culpable for a May 14 tunnel collapse. Maintenance work on the world's largest copper mine will now continue as usual, but the mine will remain shut until such work is completed and approved by the nation's government. (Bloomberg)

  • The Boeing Company (NYSE:BA) may be introducing a larger version of its 787 Dreamliner airliner to meet demand for long-haul travel. The new model will have 323 seats and longer fuselage, but will not offer as much range as the two smaller Dreamliners currently on the market. (Crain's Chicago Business)

  • Amid recent gun-ownership debates, Smith & Wesson Holding Corporation (NASDAQ:SWHC) sales for the fiscal year ended April 30 spiked 43% from last year, and its fourth-quarter sales jumped 38%. The gun maker also reported higher-than-expected preliminary earnings of $1.22 per share, a 40-cent increase from the prior fiscal year. (CNNMoney)

  • On Thursday, Broadcast Music, Inc. (BMI) filed a lawsuit against Pandora Media Inc (NYSE:P), after the Internet radio company refused to pay the proposed increase of licensing fees for playing songs across multiple devices, such as mobile phones. The songwriters' rights organization claims the fees are "consistent with market rates to reflect the explosive growth of the Internet music streaming marketplace." (Reuters)

  • Finally, Yahoo! Inc. (NASDAQ:YHOO) is deactivating accounts that have been dormant for more than a year, and offering the abandoned usernames to the public, starting in mid-July. The digital media company is hoping the move brings in more active users, which will ultimately increase its audience for advertisers. (Marketplace Tech)

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