Stocks to Watch: HGSI, EA, WYNN & More
Take a look at some of Friday's morning movers:
Human Genome Sciences - The company has set a July 16 deadline for takeover bids. It’s also urging hostile bidder GlaxoSmithKline — which has a $2.6 billion offer on the table — to join a friendly bidding process. Human Genome has already rejected the $13 a share offer as inadequate.
Electronic Arts, Activision Blizzard - NPD Group reports video hardware and software sales down 28 percent in May compared to the same month a year ago. NPD cites a shortage of new software titles as a primary reason for the drop.
Wynn Resorts - The battle between Wynn and Japanese tycoon Kazuo Okada is escalating, as Okada files a preliminary injunction to protect his stake in the casino operator. Earlier this year, Wynn forcibly bought back the stake at a steep discount, after claiming Okada had engaged in improper activities.
Microsoft - Business software producer Yammer has agreed to sell itself to Microsoft for more than $1 billion, according to The Wall Street Journal, which says it’s not yet clear when the deal will be finalized. It was reported earlier in the week that Microsoft and Yammer were in discussions about a deal.
Facebook - The company is reportedly set to file a motion to consolidate shareholder lawsuits against it over its troubled initial public offering, according to The New York Times. The paper says Facebook is expected to place at least some of the blame against Nasdaq.
Navistar - Hedge fund MHR Management has disclosed a new 13.6 percent stake in the truck and engine maker, according to an SEC filing.
Amazon.com - DigiTimes reports Amazon may cut the price of the 7-inch Kindle Fire model as it introduces new products during the third quarter.
Nokia - The company's battered stock is the subject of several analyst comments this morning: It's been upgraded to "perform" from "underperform" at Oppenheimer; upgraded to "neutral" from "sell" at Citi; and downgraded to "neutral" from "outperform" at Credit Suisse.
AOL - Activist shareholder Starboard Value has cut its AOL stake to 4.9 percent from 5.3 percent, according to an Securities and Exchange Commission filing. Starboard lost a proxy fight this week, as all eight incumbent AOL directors were re-elected to the board.
YPF - Mexican billionaire Carlos Slim has acquired an 8.4 percent stake in Argentina's biggest oil and gas producer. YPF was nationalized last month by the Argentine government, as it expropriated a 51 percent stake owned by Spanish oil company Repsol.
Sprint Nextel - Deutsche Bank has removed Sprint from its "short-term buy" list on a valuation basis, following a more than 5 percent jump in the shares Thursday. It maintains long term "hold" rating.
—By CNBC’s Peter Schacknow
Questions? Comments? Email us at email@example.com