Schaeffer's Trading Floor Blog

Buzz Stocks: MetroPCS, Best Buy, Chipotle, and Apple

Today's stocks to watch in the news include PCS, BBY, CMG, AAPL, and TWX

by 10/3/2012 8:51 AM
Stocks quoted in this article:

There is a perceptible hesitancy among investors today, with U.S. stock futures indicated marginally higher ahead of the open. The first clue toward the monthly employment picture will be released today with the Automatic Data Processing (ADP) private-sector payrolls report. Elsewhere, here are some stocks to watch in the news today:

  • In earnings news, Family Dollar Stores, Inc. (NYSE:FDO) said its fourth-quarter net income rose to $0.69 per share, or $0.75 per share excluding items. The figure matched analysts' expectations. Net sales at the discount retailer grew by 10.8%, with same-store sales advancing 5.4%. (Nasdaq)

  • MetroPCS Communications Inc (NYSE:PCS) shot higher yesterday following confirmation the wireless carrier is in merger discussions with Deutsche Telekom to align itself with T-Mobile USA. (CNNMoney)

  • Best Buy Co., Inc. (NYSE:BBY) founder Richard Schulze is continuing to proceed with a potential buyout worth an estimated $11 billion (or $24 to $26 per share). At least four private equity firms are reviewing the consumer electronics chain's books to determine what could be an appropriate proposal. (CNBC)

  • Chipotle Mexican Grill, Inc. (NYSE:CMG) was on the receiving end of harsh criticism from Greenlight Capital fund manager David Einhorn. Einhorn noted the stock has "nosebleed valuation" and said the casual eatery could face increased competition from Taco Bell. The Yum! Brands, Inc. (NYSE:YUM) unit has retooled its menu with more upscale offerings. (The Wall Street Journal)

  • The rumored iPad mini is reportedly under production at Apple Inc. (NASDAQ:AAPL) and may be announced as soon as next week. Speculation suggests the device will have a smaller 7.85-inch LCD screen with lower resolution than the third-generation model. (ZDNet)

  • With post-season play kicking off at the end of the week, Fox -- a division of News Corp (NASDAQ:NWS) -- and Time Warner Inc.'s (NYSE:TWX) Turner networks extended its contract with Major League Baseball through 2021 for $6.8 billion. On an annual basis, Fox will shell out $525 million, while Turner will contribute $325 million. (Bloomberg Businessweek)

  • Finally, enjoy this video of a cat nuzzling with a hedgehog. They never said love was painless. (Mashable)

Here are some additional articles of interest:

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