Schaeffer's Trading Floor Blog

Buzz Stocks: Toyota Motor, AIG, Facebook, and Pfizer

Today's hot stocks to watch in the news include TM, AIG, FB, and PFE

by 11/23/2012 8:31 AM
Stocks quoted in this article:

Ahead of the shortened session (markets will close at 1:00 p.m. EST), futures are trading slightly higher as investors emerge from turkey torpor. But not all companies spent the Thanksgiving holiday lazing around; GM was busy forging a deal while Facebook adjusted its terms and conditions. As many of us focus on the mall rather than the market, here are some of the stocks making news today:

  • It's another recall announcement for Toyota Motor Corporation (ADR) (NYSE:TM), which has voluntary recalled 150,000 Tacoma pickup trucks from the 2001-2004 model years. At issue is the spare tire assembly, which could lose effectiveness in cold climates. (USA Today)

  • American International Group, Inc. (NYSE:AIG) hopes to purchase $500 million worth of PICC Life Insurance shares when the company debuts on the Hong Kong market. AIG already owns roughly 10% of another unit in the PICC Group family. By teaming up with the group -- The People's Insurance Co. of China Ltd. -- the U.S. insurer hopes to expand its reach in the growing region. (CNBC)

  • Facebook Inc (NASDAQ:FB) is tweaking its policies and will begin to share user data with recently acquired Instagram, as both properties fall under the FB umbrella. Additionally, the social-media giant will relax email restrictions between FB and Instagram users. (Huffington Post)

  • General Motors (NYSE:GM) plans to buy the European and Latin American operations of Ally Financial Inc. -- as well as a portion of Ally's Chinese venture -- for $4.2 billion. The auto-lending company is a familiar partner for GM, which founded Ally in 1919 and controlled it until 2006. (The Wall Street Journal)

  • Responding to a Supreme Court of Canada ruling that will allow the production of generic versions of Viagra, Pfizer Inc. (NYSE:PFE) has lowered the price of its erectile dysfunction medication. The drug's patent was originally supposed to last through 2014. (The Vancouver Sun)

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