Schaeffer's Trading Floor Blog

Buzz Stocks: Toyota, Amazon.com, Ford Motor, and Marvell Technology

Today's hot stocks to watch in the news include TM, AMZN, F, and MRVL

by 12/27/2012 8:44 AM
Stocks quoted in this article:

Market watchers are hoping for a positive start today, as confidence remains that U.S. lawmakers will be able to forge a fiscal-cliff solution in the next couple of days. Futures have inched higher ahead of the open, while a three-day losing streak in the S&P 500 Index hangs in the balance. Elsewhere, turning to company news, here are a few stocks to watch:

  • Toyota Motor Corporation (ADR) (NYSE:TM) will pay a total of $1.1 billion to settle a class-action lawsuit related to those vehicles recalled for "unintended acceleration." In addition to fixing the problem at hand, TM will also compensate those car owners who sold their cars between Sept. 1, 2009 and Dec. 31, 2010 at a reduced value. (USA Today)

  • Elsewhere in the land of automakers, Ford Motor Company (NYSE:F) plans to invest roughly $773 million to improve six of its plants in southeast Michigan. The funds will go toward new equipment (among other things), and will create 2,350 new hourly jobs. A Ford executive noted this move will help advance the company's "aggressive growth plans." (NASDAQ)

  • Amazon.com, Inc. (NASDAQ:AMZN) captured top honors in ForeSee's Holiday E-Retail Satisfaction Index -- which measures customer satisfaction for the 100 largest online retailers from Thanksgiving to Christmas. In fact, AMZN has finished in the top spot in all eight years of the study, receiving a score of 88 out of 100 for 2012. According to ForeSee, anything above 80 is considered strong. Suffering the worst drop in the satisfaction index was J.C. Penney Company, Inc. (NYSE:JCP), which fell to 78 from 83. (Reuters)

  • Marvell Technology Group Ltd. (NASDAQ:MRVL) has been slapped with a fine in a patent lawsuit surrounding hard-drive technologies. A jury found MRVL guilty of willfully infringing upon patents held by Carnegie Mellon University, which could, in turn, triple the already massive $1.17 billion in damages levied by the trial judge. Wall Street has walloped shares of MRVL, knocking them down more than 3% in pre-market action. (Fox Business)

  • In other litigation news, W.W. Grainger, Inc. (NYSE:GWW) has been ordered to pay $70 million to reconcile a long-standing contract dispute between the industrial supplies producer and the U.S. government. The Justice Department said GWW gave incomplete and false information to the General Services Administration (GSA) and the U.S. Postal Service, prompting the offices to pay more for the requested services. (Bloomberg)

  • Wells Fargo & Company (NYSE:WFC) won its appeal in the 9th U.S. Circuit Court of Appeals, which overturned a ruling that would block WFC from deducting debit-card transactions from customer accounts in order of descending size. By subtracting larger sums first, critics argued, WFC was able to maximize any overdraft fees. WFC does remain on the hook, however, for misleading customers about this policy. (Los Angeles Times)

  • Finally, she's only 23, but country star Taylor Swift took the number-one spot on DoSomething.org's "Celebs Gone Good" list, which credits those stars making chartable donations of their time and money. This year alone, Swift gave $4 million to the Country Hall of Fame Museum to build an education center, donated 14,000 books to the Nashville public library, penned a song -- the royalties from which she donated -- to honor a grieving mother who lost her young son from cancer, and gave money and co-chaired the Read Across America literacy campaign. (VH1)


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