Schaeffer's Trading Floor Blog

Buzz Stocks: AIG, FedEx, Pandora, and NIKE

Today's hot stocks to watch in the news include AIG, FDX, P, NKE, and DG

by 12/11/2012 9:08 AM
Stocks quoted in this article:

Stocks are set to continue higher in this morning's trading, as investors patiently await the next move from the Federal Open Market Committee. Drilling down to specific companies, here are some names to watch in the news today:

  • Earnings news: Dollar General Corp. (NYSE:DG) announced third-quarter earnings of 62 cents per share (or 63 cents per share excluding items). This is up from 50 cents per share the previous year and above analysts' expectations for 60 cents. Revenue expanded by 10% to $3.96 billion, in line with the consensus view. (MarketWatch)

  • After being the government's largest bailout during the 2008 financial crisis (at $182.3 billion), American International Group, Inc. (NYSE:AIG) will no longer be under Uncle Sam's thumb. The U.S. Treasury is selling its remaining 234 million shares in AIG, representing a 16% stake in the insurance concern. (The Huffington Post)

  • Europe's largest financial firm HSBC Holdings plc (ADR) (NYSE:HBC) has been slapped with a $1.9 billion fine due to its part in a money laundering scheme involving drug cartels, terrorists, and tax cheats. HSBC accepted full responsibility in a statement noting it has also reached a deferred-prosecution agreement with the U.S. Department of Justice. This arrangement could help to unlock new information linking HSBC to further laundering troubles in Mexico. (FOXBusiness)

  • NIKE, Inc. (NYSE:NKE) is in negotiations to expand its businesses in its home state of Oregon. For the deal, NKE wants the state to write a special provision to protect its current tax status and only be taxed on Oregon sales. Governor John Kitzhaber, in return, wants NKE to guarantee an investment of at least $150 million and the hiring of 500 or more employees. (The Washington Post)

  • Diageo plc (ADR) (NYSE:DEO) is ending its long-time partnership with owners of Jose Cuervo, JB y Compania SA de C.V. and Lanceros S.A. de C.V. The London-based drinks giant will not only terminate a 26-year-old distribution deal, but will end talks to buy the popular tequila brand. This move fuels recent speculation that DEO is interested in bourbon name Jim Beam , which is owned by Japanese distiller Suntory Holdings Ltd. (Bloomberg; The Guardian)

  • FedEx Corporation (NYSE:FDX) predicted that yesterday -- the second Monday of December -- would be its busiest day of the year, and possibly of all time. In fact, the carrier's CEO projected processing 200 packages a second. Part of the heavy flow is due to deliveries of orders made two weeks ago on "Cyber Monday." (CNBC)

  • The Manhattan U.S. attorney's office, the Federal Bureau of Investigation (FBI), and the Securities and Exchange Commission (SEC) are upping their inquiries involving at least seven corporate executives and their alleged insider trading activity. Among the big-name executives cited in the case are VeriFone Systems Inc (NYSE:PAY) CEO Douglas Bergeron and Big Lots, Inc. (NYSE:BIG) CEO Steven Fishman. (The Wall Street Journal -- subscription required)

  • Pandora Media Inc (NYSE:P) is now accessible in Australia and New Zealand, online and via iOS and Android mobile devices. These are the only two countries -- aside from the U.S. -- with full web and mobile access to the streaming music service. (TechCrunch)

  • Finally, watch out what you say online, as it may be unforgivable. Reportedly, a Boston shoe store banned a woman from shopping there after her adult son penned a scathing review on the online consumer-review site Yelp Inc (NYSE:YELP). Not sure this strategy is going to help improve their star ratings (The Consumerist)

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