Stocks to Watch: F, TAP, MMI & More
Take a look at some of Tuesday’s morning movers:
CVR Energy - Investor Carl Icahn says he now holds 69 percent of the oil refiner's outstanding shares as he attempts to buy the company. His next step: A proxy battle to gain control of the company's board of directors next month.
Ford - The automaker posted a March sales increase of 5 percent, just about in line with analysts' estimates.
Molson Coors - The beer brewer is buying Amsterdam-based StarBev from CVC Capitalfor $3.5 billion, expanding its reach in Europe where StarBev owns nine breweries.
Motorola Mobility - European regulators are opening two investigations into Motorola Mobility, following complaints by Apple and Microsoft that the company is unfairly restricting access to its patents. Motorola Mobility is currently in the process of being acquired by Google.
Goldman Sachs Group - The firm says directors John Bryan and Lois Juliber will not stand for re-election, and James Schiro will be the new lead director.
Avon Products - The cosmetics maker has elected former Campbell Soup CEO Douglas Conant to its board of directors, a day after it was the target of a $10 billion takeover bid from privately held Coty.
3D Systems - The maker of three dimensional printers will be the newest member of the S&P SmallCap 600 Index, as it replaces Taleo Corp. after the close of trading on April 5. Taleo is being acquired by Oracle in a deal expected to be completed later this week.
Allegiant Travel’s - The company's Allegiant Air unit will become the latest to charge passengers for using the overhead bins on flights, as it institutes a $35 fee beginning Wednesday.
Google, Oracle - The two are headed to trial in an intellectual property case involving Google’s Android mobile software. This follows a settlement conference this past weekend that failed to produce results.
Solar Stocks - Solar stocks could possibly get a boost after the CEO of Suntech Power told Reuters he expects his company — and the industry — to return to profit in the fourth quarter. Suntech, First Solar, Trina Solar, and others all reported 2011 losses as prices fell and supplies of equipment rose.
GlaxoSmithKline - The drug company will file its once-weekly diabetes drug for regulatory approval, following favorable results from clinical trials.
Sina - The China internet service provider has restored commenting functions to its microblogging service, after shutting that function down for a few days as the result of a government censorship crackdown.
Global Payments - Stifel Nicolaus has upgraded the credit-card processor to "buy" from "hold," with a $54 price target, saying the shares have overreacted to last week's security breach which resulted in Visa dropping it as an approved processor.
Netflix - Barclays has downgraded the stock to "equal weight" from "overweight," based on increasing competitive threats in the subscription video on demand market.
Apple - Piper Jaffray's Gene Munster has lifted his price target on Apple to $910 from $718, but also says the shares will reach $1,000 by 2014. Munster feels Apple will continue to win market share in the global mobile device market.
Urban Outfitters - The stock has been upgraded to "neutral" from "sell" at Citi, based on somewhat more solid sales trends at the retailer.
Coca-Cola - Stifel Nicolaus is downgrading the beverage maker's stock to "hold" from "buy", saying although fundamentals remain on track to achieve company targets, multiples are no longer adequate to support the higher rating.
AutoZone - Goldman Sachs has added the auto parts retailer's stock to its "conviction buy" list, based on its optimism about AutoZone's increased presence in commercial markets.
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