Stocks To Watch: Barclays, Caterpilllar, Morgan Stanley, Pfizer, Research in Motion
Today's big stories and some stocks with potential to move...
Stocks to watch for Monday, April 23:
- Abbott (ABT) is offering to sell an AIDS drug in Thailand at a discount, a move that could embolden other developing countries to seek lower drug prices.
- AstraZeneca (AZN) agreed to buy MedImmune (MEDI) for $15.6 billion, in a deal that will transform the size of its biotechnology business and allow the British drug maker to enter the vaccines market.
- Bank of America's (BAC) CEO is betting his bank's elite image with three big recent deals, including a $21 billion accord for ABN's LaSalle bank.
- Barclays (BCS) agreed to buy ABN Ambro (ABN) for $91.07 billion to create the world's largest institutional asset manager and one of its top-five banks. As part of the deal, ABN said it is selling LaSalle Bank to Bank of America for $21 billion.
- Bristol-Myers (BMY) appears close to freeing itself from federal oversight after an accounting scandal as a deferred prosecution accord is set to expire June 15.
- Caterpillar (CAT) raised its 2007 sales and earnings outlook, despite weakness in the North American housing market, due to continued strength in its overseas industries.
- A Clear Channel (CCU) radio station is changing its ad format. The Dallas classic-rock station plans to weave in mentions of sponsors, no more than fifteen seconds at a time, throughout the regular programming.
- A pension fund group plans to oppose two CVS/Caremark (CVS) board nominees. Caremark's sale and options dating are issues.
- Hasbro (HAS) swung to a first-quarter net profit amid a strong performance across the toy maker's product lines.
- Morgan Stanley (MS) selected Stephen Roach to head its Asian operations, succeeding Alasdair Morrison, as the firm aims to strengthen its investment-banking business in the industry's fastest-growing region.
- Motorola's (MOT) first-quarter decision to flood the market with its excess phones left other firms in a holding pattern.
- Pfizer's (PFE) net income fell 17% for the first quarter, as restructuring costs weighed down results. Sales rose 6%, driven by the popularity of its new nerve-pain drug Lyrica.
- Sallie Mae (SLM) plans to go private, but will still likely come under a regulator's scrutiny because of a state-chartered finance arm.
- Research in Motion (RIMM) is set to launch software that will allow features of its popular BlackBerry to be used on non-BlackBerry devices.
- Asian trading closed with the Hang Seng -0.05%, Nikkei +0.02%, Sensex +0.22%, Taiwan +0.85% and Shanghai +3.53%.
- A quick look towards Europe shows the CAC -0.35%, DAX -0.02%, FTSE +0.67%, ATX +0.15%, Swiss Mkt. +0.27% and Stockholm -0.10%.
- Gold is trading -0.9 to 694.9 while crude oil is +0.21 to 64.32 this morning.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter