Stocks to Watch: ZOLL, ZZ, JBLU & More
Take a look at some of Monday morning’s early movers:
Zoll Medical - The medical equipment maker is being bought by Japan’s Asahi Kasei in a deal worth $2.2 billion or $93 per share, a 24 percent premium over Zoll's Friday closing price.
Sealy - The mattress maker’s second largest shareholder, H Partners Management, has sent a letter to the company calling for a board shakeup and blaming Sealy’s poor performance on its largest shareholder, KKR. Sealy shares are down about 90 percent since KKR took the company public in 2006.
JetBlue Airways - The Irish Times says the airline is in talks to possibly buy a stake in Irish airline Aer Lingus. The Irish government is considering selling its 25 percent stake as part of a privatization drive.
Tiffany - The company is suing rival luxury goods maker Swatch, accusing it of obstructing a joint venture created by the two in 2007. Swatch says it will vigorously contest the $589 million dollar claim.
Apple - Apple says its new iPad will be in stores on Friday, as planned, but those who order it online may have to wait two to three weeks for it to arrive.
General Mills - Goldman Sachs Group has downgraded the food maker to “neutral” from “conviction buy,” citing disappointing packaged food volumes.
PepsiCo - Pepsi has appointed former Sam’s Club CEO Brian Cornell as CEO of its Americas food division, while moving current food division chief John Compton to the newly created position of PepsiCo president.
Walt Disney - Janney is upgrading the Dow Jones Industrial Average component to “buy” from “neutral,” while Time Warner has been downgraded to “neutral” from “buy.” Janney feels Disney is less vulnerable, while Time Warner is more vulnerable, to risks posed by the growth of Internet Protocol Television, or IPTV.
The HersheyCo. - Goldman Sachs is upgrading Hershey to “buy” from “neutral,” saying the confectionary food category has better growth potential than that of packaged foods.
Oracle - The stock has been downgraded to “hold” from “buy” at Jefferies & Co.
Yahoo! - Comscore reports Yahoo lost web search market share for a sixth straight month in February. Its share is now at 13.8 percent, compared to 66.4 percent for Google and 15.3 percent for Microsoft (15.3 percent).
Exelon, Constellation Energy - The two energy companies plan to complete their merger today, following approval late Friday by the Federal Energy Regulatory Commission.
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