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Spotlight Stocks: Anheuser-Busch, Exxon, Pfizer, Yahoo

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Friday's top stories and stocks with potential to move.

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Stocks to watch for Friday, June 13, 2008:

  • Anheuser-Busch (BUD) has opened up discussions with Mexican brewer Grupo Modelo for a combination that would essentially undermine the t$46.35 billion takeover bid by InBev, reported The Wall Street Journal. BUD already owns a 50% stake in Modelo, whose CEO Carlos Fernandez is an Anheuser-Busch director. One anonymous analyst said that the deal for the remaining stake in Modelo could be worth about $11 billion. The deal would likely make a combined company too expensive for InBev to purchase.
  • Exxon Mobil (XOM) will reportedly be leaving the retail gas business as it accounts for a small part of the company's profits, reported Reuters. The company owns about 2,200 of the country's 12,000 Exxon Mobil branded stations and operates 820 of them. The company will maintain the brand name, so gas will still be bought at Exxon Mobil stations, but they'll be privately owned.
  • Pfizer (PFE) may make a counter offer for Indian generic drug company Ranbaxy Laboratories, after Japan's Daiichi Sankyo proposed a a $4.6 billion (2.4 billion pound) deal, said Reuters citing the Business Standard newspaper. PFE is reportedly looking to bid for the portion of Ranbaxy held by institutions and public shareholders, or about 65%.
  • Yahoo (YHOO) has struck a deal allowing Google (GOOG) to handle some of its advertising sales. YHOO's shares traded down on the news last night as shareholders and investors are still possibly feeling sore about the failed talks with Microsoft (MSFT). Also, the companies might find some antitrust roadblocks in completing this alliance.


Market Recap

  • Asian trading closed with the Hang Seng -1.87%, Nikkei +0.61%, Sensex -0.40%, Taiwan +0.54% and Shanghai -3.00%.
  • A glance towards Europe finds the CAC -0.72%, DAX -0.37%, FTSE -0.50%, ATX -1.22%, Swiss Mkt. +0.03% and Stockholm -1.19%.
  • In commodities, crude oil is lower -1.43 to 135.31 and gold is also down -1.4 to 867.8 this morning.
No positions in stocks mentioned.

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