Schaeffer's Trading Floor Blog

Buzz Stocks: Microsoft, Nokia, Sprint, and QUALCOMM

Today's hot stocks to watch in the news include MSFT, NOK, S, and QCOM

by 12/4/2012 8:59 AM
Stocks quoted in this article:

As investors continue to focus their collective attention on Washington, U.S. stock futures are pointed modestly higher following Monday's trip into the red. In stock news, Nokia is making a real-estate deal, and QUALCOMM is making an investment in the future of screen technology. Here are some other stocks in the news today:

  • Earnings news: Big Lots, Inc. (NYSE:BIG) announced a third-quarter loss of 10 cents per share, compared to a six-cents-per-share profit in the year-ago quarter. Sales fell to $1.13 billion, just under analysts' predictions. Despite this quarterly loss, BIG raised its full-year adjusted earnings guidance to between $2.86 and $3.05, which is well above Wall Street's view of $2.02 per share. (MarketWatch)

  • Microsoft Corporation (NASDAQ:MSFT) has introduced Office 2013 for businesses, along with other software such as Visio 2013 and Exchange server 2013. Retail consumers looking to buy the new suite of products at a traditional outlet, however, will have to wait for the first quarter of next year. (Computer Business Review)

  • In an effort to mend its bottom line, Nokia Corporation (ADR) (NYSE:NOK) will sell its Finnish headquarters for $222 million -- and then lease it back for a smaller sum. While the company doesn't plan on looking for a new home, the deal is part of the handheld maker's overall plan to reduce spending. (CNET)

  • While Sprint Nextel Corporation (NYSE:S) is busy shoring up its purchase of a majority stake in Japan's Softbank Corp, its other potential deal for MetroPCS Communications Inc (NYSE:PCS) -- which is owned by Deutsche Telekom AG's T-Mobile U.S.A. -- is likely to fade. S said it remains interested in PCS, but does not want to interrupt the regulatory review of its Softbank acquisition. (Reuters)

  • In other M&A news, Baxter International Inc. (NYSE:BAX) plans to purchase Sweden-based Gambro AB for close to $4 billion. Acquisition of the kidney-dialysis outfit offers the chance for BAX to bolster its dialysis-equipment segment. According to reports, this would represent the fifth acquisition by BAX in 2012. (Bloomberg Businessweek)

  • QUALCOMM, Inc. (NASDAQ:QCOM) will be the white knight Sharp Corp. is looking for, and likely its largest shareholder. The semiconductor firm is making a $120-million investment in the Japanese electronics firm, and plans to leverage this deal into the manufacturing of power-saving screen technology. (Reuters)

  • Apple Inc. (NASDAQ:AAPL) has opened iTunes stores in Russia, India, and 54 other nations today, giving the iTunes store a presence in 119 countries. This global move comes shortly after the roll out of iTunes 11. (Tech Hunter)

  • Weeks after taking a 49% stake in the New York Yankees YES network, News Corp (NASDAQ:NWS) is spending $230 million to buy SportsTime Ohio. This gives NWS the rights to broadcast Cleveland Indians games and bolsters its presence in the Buckeye State. NWS already owns Fox Sports Ohio, which broadcasts the Cincinnati Reds and Cleveland Cavaliers. (Chicago Tribune)

  • Finally, as if charging for your bags, pillow, food, or "better" seats isn't enough, the airline industry is thinking of new for-pay services to offer. Travel insurance is one of these ideas, for example, along with "package" deals combining food and on-board entertainment at a "discount" price. (Los Angeles Times)

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