Schaeffer's Trading Floor Blog

Buzz Stocks: Sprint Nextel, Google,, and Wal-Mart

Today's hot stocks to watch in the news include S, GOOG, AMZN, WMT, and AAPL

by 12/13/2012 8:57 AM
Stocks quoted in this article:

As investors continue to digest yesterday's Fed announcement and await today's round of economic data, the Dow is set to open the day modestly lower. Meanwhile, here are some stocks making news:

  • Sprint Nextel Corporation (NYSE:S) has offered to buy out Clearwire Corporation (NASDAQ:CLWR), in a deal worth about $2 billion. With CLWR completely in its arsenal (S already owned 51% of the company), S will be able to up the speed of its wireless data, while keeping costs low. (MarketWatch)

  • In a blog post, Apple Inc. (NASDAQ:AAPL) said the Google Maps app will again be compatible with any iPhone or iPod Touch using iOS 5.1 or higher. As AAPL's mapping excursion was nothing less than a total failure -- packed with flaws and lacking features users wanted -- the company hopes to save face by bringing Google Inc's (NASDAQ:GOOG) popular mapping service back into the fold. (Chicago Tribune)

  • Officials in the European Union closed an antitrust investigation into e-book pricing, allowing, Inc. (NASDAQ:AMZN) to continue selling electronic books at a discount to its competitors. Meanwhile, Amazon debuted the Kindle app for iPhones, iPads, and Android devices in China on Wednesday. This move naturally prompted speculation that Kindle devices will soon be available in the country as well. (Chicago Tribune; TechCrunch)

  • The Federal Communications Commission (FCC) told DISH Network Corp. (NASDAQ:DISH) it can proceed with plans to offer smartphone services to its customers. This not only gives DISH a boost in its rivalry with DIRECTV (NASDAQ:DTV), and other competitors like Verizon Communications Inc. (NYSE:VZ) and AT&T Inc. (NYSE:T), but it also opens up the door for potential partnerships from Sprint Nextel Corporation (NYSE:S) or even … DTV. (MSN Money)

  • Global banking firm Barclays PLC (ADR) (NYSE:BCS) is looking for ways to restructure its business, and has decided to lay off 2,000 associates by early 2013. These eliminations will affect BCS' investment-banking arm, which employs nearly 23,000 people. This news follows cost-reduction measures at several big-name financial institutions, including job cuts at UBS AG (USA) (NYSE:UBS) and Citigroup Inc. (NYSE:C). (The Wall Street Journal)

  • CVS Caremark Corporation (NYSE:CVS) is lifting its quarterly dividend to 22.5 cents per share, a 38% increase. Shareholders of record as of Jan. 24 will receive distribution on Feb. 4. Additionally, the pharmaceutical retailer announced plans to repurchase $4 billion in stock in 2013. (MarketWatch)

  • Although Wal-Mart Stores, Inc. (NYSE:WMT) is wrestling with an inquiry into its lobbying practices in India, the world's largest retailer hasn't been discouraged from further expanding its global reach. WMT is reportedly negotiating the purchase of an 80% stake in Turkish retailer Migros Ticaret AS, but has not yet placed a bid. As speculated, the deal would value Migros Ticaret at more than $4 billion (including the assumption of debt). (Reuters)

  • Finally, someone posing as a Christmas-tree saleswoman in Tacoma, WA made off with $500 from a lot that sells the festive conifers to raise money for charity. I know someone who's getting a lump of coal in her stocking this year… (The Consumerist)

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