Stocks to Watch: SBUX, DG, FDX, GS & More
Take a look at some of Tuesday's morning movers:
Starbucks - Starbucks is buying San Francisco-based Bay Bread, the company behind the La Boulange bakery brand, and will offer La Boulange baked goods at its stores. The deal may have spillover effect for competitors such as Panera Bread.
Dollar General - Dollar General beat estimates by three cents with first-quarter earnings of $0.63 per share, with revenues also above consensus. The retailer also announced a secondary offering of 25 million common shares, putting pressure on its stock price.
FedEx - The delivery company has increased its quarterly dividend by one cent to $0.14 per share. FedEx also announced it will take a $0.26 per share noncash impairment charge stemming from its decision to retire 24 aircraft.
Goldman Sachs - Goldman reportedly laid off 50 employees last week, according to The New York Times. The paper says a number of those employees were managing directors on the higher end of Goldman’s pay scale.
CBS - Bankers for the company are said to be gauging interest in the company’s outdoor advertising business, according to The Wall Street Journal. CBS is hoping to draw bids as high as $6 billion.
Wynn Resorts - CEO Steve Wynn says Wynn Macau’s latest resort in Macau would cost $4 billion, and he is expressing confidence that the property will be a successful investment, despite the current economic climate.
Hotel stocks like Marriott International, Starwood Hotels & Resorts Worldwide, FelCor Lodging Trust, Hyatt Hotels, and Gaylord Entertainment could draw some buying interest, after analysts at an industry conference said they expect more hotel-related deals this year.
TiVo - The company is countersuing Cisco Systems over alleged patent infringement relating to digital video recorder technology. Cisco had sued TiVo last week to void those same patents.
Facebook - A new Reuters poll says four of five users have never bought a product or service as a result of either advertising or user comments. It also shows 34 percent of users spending less time on the site than they did six months ago.
BlackRock - Chief equity strategist Bob Doll is retiring from the No. 1 money manager. Doll says he wants to shift his priorities to his family and philanthropic interests.
Yahoo - AllThingsD reports that although Yahoo has begun a CEO search, interim chief Ross Levinsohn is the leading candidate for the permanent position.
Amylin Pharmaceuticals - Reports say bidding for Amylin is intensifying, with offers reaching $25 to $29 per share.
—By CNBC’s Peter Schacknow
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