Schaeffer's Trading Floor Blog

Buzz Stocks: AIG, Sprint, Toyota Motor, and Akamai Technologies

Among today's stocks in the news to watch: AIG, S, AAPL, TM, and UAL

by 12/17/2012 8:51 AM
Stocks quoted in this article:

As cautious optimism builds over the possibility for a compromise in the fiscal-cliff negotiations, stock futures are pointed modestly higher. Turning to company news, here are stocks to watch in the news today:

  • American International Group, Inc. (NYSE:AIG) will exit its near century-long stake in Asia-based insurance company AIA. AIG recently sold $2.02 billion of its AIA shares, and was prohibited to sell more until Dec. 10. When the current sale is complete, AIG will have pocketed approximately $6.5 billion. (FOX Business)

  • After previously offering $2 billion to buy out Clearwire Corporation (NASDAQ:CLWR), Sprint Nextel Corporation (NYSE:S) said the two entities have finally reached an agreement. The new arrangement -- valued at $2.2 billion (or $2.97 per share) -- will give S 100% ownership of the smaller 4G wireless services provider. (MarketWatch; TechCrunch)

  • The race for the top-selling automaker in the world is in its final leg, and global sales numbers will set a record this year with more than 80 million automobiles being purchased. Japan-based Toyota Motor Corporation (ADR) (NYSE:TM) is projected to take the number one spot this year, while General Motors Company (NYSE:GM) and Germany's Volkswagen AG are still battling for second place. Forecasts also have these three autos giants trading these three positions through 2019. (Bloomberg Businessweek)

  • United Airlines and Continental Airlines are now closer to concluding their 2010 merger as United Continental Holdings Inc (NYSE:UAL). A joint union contract was reached on behalf of the 10,000 pilots working under the United Continental moniker. The deal includes wage raises and larger retirement contributions, as well as an even distribution of a $400 million payout available to all 10,000 pilots. (U.S. News & World Report)

  • Chinese consumers scooped up more than 2 million of the new iPhone 5 from Apple Inc. (NASDAQ:AAPL) during the first three days of availability. While this is the first time Apple has disclosed China sales numbers, company CEO Tim Cook revealed it was the "best first weekend sales ever" in the second-biggest global market. (CNBC)

  • The co-founder and current chief scientist of Akamai Technologies, Inc. (NASDAQ:AKAM), Tom Leighton, will report for duty as CEO on Jan. 1, after current chief executive Paul Sagan exits the position. Sagan will stay with the company in an advisory role. (Bloomberg Businessweek)

  • Finally, the first of three movies telling the tale of The Hobbit was a victory for Time Warner Inc. (NYSE:TWX), whose Warner Bros. studio distributed the film. The Bilbo-Baggins-focused Lord of the Rings prequel earned an estimated $84.7 million at the U.S. and Canadian box offices, scoring a new record for December. (CNBC)

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