What's Shaking: Monday's Early Movers
Senior Producer, CNBC
Take a look at some of Monday morning's early movers:
Broadcom —Upgraded to “buy” from “hold” as Deutsche Bank upgrades the semiconductor sector to “overweight” from “equal weight”.
Travelers —Goldman Sachs adds to “conviction buy” list, citing attractive yield and limited exposure to Europe.
Ralph Lauren —Added to the “conviction buy” list at Goldman Sachs.
Inhibitex —The company is being acquired by Bristol-Myers Squibb 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 , Morgan Stanley —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 —Founder Chip Wilson steps down as chief innovation officer. However, Wilson will continue to serve as chairman.
Humana —The company says it sees "somewhat higher" 2012 enrollment in its Medicare Advantage program than it had previously expected.
Motorola Mobility —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 —The company’s PayPal unit is testing an in-store payment system at five Home Depot stores, a program that could generate extra revenue for the unit.
LinkedIn —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 .
Infospace —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 , but the deal had to be dropped because of antitrust issues.
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