Schaeffer's Trading Floor Blog

Buzz Stocks: UPS, Zynga, Citigroup, and Duke Energy

Today's hot stocks to watch in the news include UPS, ZNGA, C, DUK, and AAPL

by 11/30/2012 8:59 AM
Stocks quoted in this article:

Stock futures are pointed higher the final day of November, as fiscal-cliff talks continue among the nation's government leaders. Turning to stocks, UPS is pleading for merger approval, and Apple is free to sell the iPhone 5 in China. Here are some other stocks making news today:

  • Earnings news: OmniVision Technologies, Inc. (NASDAQ:OVTI) reported a hefty drop in second-quarter earnings, despite a 79% jump in revenue. OVTI also projected an adjusted current-quarter profit of 33 cents to 46 cents per share on revenue of $390 million to $425 million, while analysts are expecting 35 cents per share in earnings and $365 million in revenue. (MarketWatch)

  • United Parcel Service, Inc. (NYSE:UPS) hopes that the European Commission (EC) will accept its concessions and approve the delivery giant's $6.7-billion acquisition of Dutch-owned TNT Express NV. In a joint statement, the pair said they are working to alleviate "the EC's concerns regarding the competitive effects of the intended merger on the international express small package market in Europe." (Bloomberg)

  • Poor Zynga Inc (NASDAQ:ZNGA) can't get catch a break. The social-gaming developer has overhauled its agreement with Facebook Inc (NASDAQ:FB), and no longer has to publish Facebook ads on games appearing on its own domain. The exclusivity deal between the two companies has also been lifted, and FB is free to develop its own games (although it currently has no plans to do so). The news has chipped away at ZNGA in pre-market activity. (Forbes)

  • Citigroup Inc. (NYSE:C) is planning to cut 150 positions from its trading/investment banking division, which currently employs about 17,000 people. The banking giant will also reduce bonuses by 10%. (Bloomberg)

  • The iPhone 5 has been cleared for sale in China, allowing Apple Inc. (NASDAQ:APPL) to debut the much-anticipated smartphone next month. China is currently the company's second-largest market. (Chicago Tribune)

  • In a settlement with North Carolina, Duke Energy Corp (NYSE:DUK) agreed that CEO Jim Rogers will step down in 2013. A lawsuit claimed that after DUK's takeover of Progress Energy -- which created the largest utility company in the U.S. -- Progress' CEO was to assume leadership, but DUK's Jim Rogers stayed in control and upset many in the state. (Fox Business)

  • Finally, it's everyone's favorite time of year -- the release of the "Toys Oppressive and Destructive to Young Children" (TOADY) "awards." Among those earning the dubious distinction this holiday season are a make-your-own 7-11 Slurpee machine and the "Apptivity Monkey," which connects a smartphone to a stuffed animal. (The Consumerist)

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