Stocks to Watch: MAT, CAT, DD & More
Senior Producer, CNBC
Take a look at some of Monday’s morning movers:
Mattel - The toymaker earned 6 cents per share, excluding certain items, one cent short of estimates. Revenues were also short of consensus, as sales of the venerable Barbie and Hot Wheels brands fell.
Caterpillar - Bank of America/Merrill Lynch has upgraded the earth-moving equipment maker's stock to "buy" from "neutral," citing solid fundamentals and an attractive valuation.
Citigroup - Citigroup earned $1.11 per share, excluding certain items, 11 cents above estimates. CEO Vikram Pandit says Citi's businesses operated in an improved environment, and the bank also saw benefits from its ongoing investments.
Endocyte - The drugmaker's stock is soaring after Merck bought the rights to Endocyte's experimental cancer drug vintafolide for up to $1 billion.
Avon Products - Privately held Coty has sent Avon a letter, reaffirming its interest in its rejected $10 billion takeover bid for Avon, and asking for confidential discussions. Coty says those discussions would help it determine the best price it could pay for Avon.
Stratasys - The maker of 3D printers and privately held rival Objet are combining in a stock swap deal which will create a company with a $1.4 billion market value. Stratasys shareholders will own 55 percent of the combined company, Objet shareholders 45 percent.
Procter & Gamble - The consumer products giant has increased its quarterly dividend by 7 percent to $0.562 per share. P&G has now increased its quarterly payout for 56 straight years.
Vringo - The maker of mobile phone ringtones is getting some buying interest after Mark Cuban took a 7.4 percent stake.
DuPont - The company has reportedly drawn interest from a number of private-equity firms, as it seeks to sell its car paint business. Reuters reports Carlyle Group and Apollo Global Management have teamed up for one bid, TPG and Advent for another, and KKR and Onex Corp. for another. Sources say the business could fetch up to $4 billion.
Great Wolf Resorts - The water park operator says it’s received a takeover offer from KSL Capital Partners for $7 per share, an offer it deems superior to a $6.75 per share bid from Apollo Global Management. Apollo has the right to adjust its offer within three business days.
Seagate Technology - Seagate could see some upside action today, after the disk drive maker got a positive mention in this weekend’s edition of Barron’s. The publication reported Seagate will benefit from a strong market position and a management that’s kindly disposed towards shareholders.
KKR - London’s Sunday Times reports that KKR is working on a deal to buy the diamond units currently owned by BHP Billiton and Rio Tinto with the idea of combining the two.
Credit Suisse - The bank may announce as many as 5,000 job cuts when it reports its first-quarter results on April 25, according to Swiss newspaper Sonntag.
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