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- June Could Be Turning Point for Markets, Economy
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- Europe Has Wall Street's Bull on a Short Leash
- Hostage to Headlines
- Traders Worry Over 'Possible Risks' During Long Weekend
- Oil Declines, but Doesn't Help European Consumers
- Facebook Analyst Reports All Over the Map
- More Fallout From the Facebook Fiasco
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What's Shaking: Monday's Early Movers
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Senior Producer
Take a look at some of Monday morning's early movers:
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Broadcom [BRCM
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]—Upgraded to “buy” from “hold” as Deutsche Bank upgrades the semiconductor sector to “overweight” from “equal weight”.
Travelers [TRV
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]—Goldman Sachs adds to “conviction buy” list, citing attractive yield and limited exposure to Europe.
Ralph Lauren [RL
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]—Added to the “conviction buy” list at Goldman Sachs.
Inhibitex [INHX
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]—The company is being acquired by Bristol-Myers Squibb [BMY
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] for $2.5 billion in cash. That represents a 163% premium over Friday’s close, as BMY makes a big bet on Inhibitex’s promising treatment for hepatitis C.
Goldman Sachs [GS
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], Morgan Stanley [MS
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]—analyst Meredith Whitney cut fourth quarter earnings estimates for both late Friday. She cites a continued challenging trading environment and persistently weaker investment banking activity.
Lululemon [LULU
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]—Founder Chip Wilson steps down as chief innovation officer. However, Wilson will continue to serve as chairman.
Humana [HUM
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]—The company says it sees "somewhat higher" 2012 enrollment in its Medicare Advantage program than it had previously expected.
Motorola Mobility [MMI
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]—Warned that its fourth quarter revenues would fall short of Street estimates. Motorola Mobility is in the process of being acquired by Google in a $12.5 billion cash deal.
Ebay's [EBAY
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]—The company’s PayPal unit is testing an in-store payment system at five Home Depot [HD
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] stores, a program that could generate extra revenue for the unit.
LinkedIn [LNKD
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]—Morgan Stanley has cut its stake in the social networking company to 10.1% from the prior 22.7%, according to an SEC filing. Morgan Stanley is also reporting a 16% in another recently public social networking company, Zynga [ZNGA
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].
Infospace [INSP
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]—Will buy privately held TaxACT, the second biggest provider of online tax services, for $287.5 million. TaxACT previously had a deal in place to be bought by H&R Block [HRB
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], but the deal had to be dropped because of antitrust issues.
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Data is a real-time snapshot *Data is delayed at least 15 minutes
