Stocks To Watch: Abercrombie & Fitch, IHOP, Rediff.com, Verizon, Yahoo
Today's top stories and some stocks with potential to move...
Stocks to watch for Monday, July 16:
- Abercrombie & Fitch (ANF) said it plans to expand in Europe by opening stores in Italy, France, Germany, Spain, Denmark and Sweden.
- Acacia Research (ACTG) said that its Financial Systems Innovation unit has signed a retroactive license deal with Lowe's Home Centers (LOW). The deal concerns certain patent rights that apply to credit card fraud protection technology.
- Ford (F) is considering the sale of its Volvo unit, in a move to bolster the auto maker's slumping U.S. division. A sale would mark a pullback from Ford's effort to tap the luxury-car market.
- IHOP (IHP) sealed a deal to buy Applebee's International (APPB), the largest U.S. casual-dining chain, for about $2.1 billion.
- Mattel (MAT) said quarterly net income rose 15%, due to strong international toy sales, as well as overall strength from its Fisher-Price and Hot Wheels brands.
- ReAble Therapeutics, a U.S. maker of physical-therapy products controled by Blackstone (BX), agreed to buy DJO (DJO) for $1.6 billion to add AirCast walking braces, post-surgery pain therapies and systems to prevent blood clots and embolisms.
- TiVo (TIVO) will start a ratings service today that ranks television commercials from 15 networks on a second-by-second basis compared with Nielsen's minute-by-minute system, will exclude skipped ads. This information is said to drive advertising competition in the near future.
- Yahoo (YHOO), Google (GOOG) are said to be in talks to acquire Rediff.com (REDF) for close to $1bn. AOL (TWX) also said to be interested. REDF is a popular Internet Information Provider in India.
- Wireless telecommunications company Vodafone Group (VOD) has been considering a $160 billion takeover bid of Verizon Communications (VZ). VOD currently controls 45% of VZ.
- Asian trading closed with the Hang Seng -0.63%, Nikkei +1.42%, Sensex +0.25%, Taiwan -0.57% and Shanghai -2.36%.
- A quick check across the pond finds the CAC -0.08%, DAX +0.05%, FTSE +0.07%, ATX -0.01%, Swiss Mkt. +0.35% and Stockholm +0.07%.
- Crude oil is trading higher +0.17 to 74.10 and gold is also up +2.2 to 669.5 this morning.
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