Stocks to Watch: PETM, EBAY, FB & More
Take a look at some of Monday's morning movers:
Petsmart - The pet supplies retailer is raising its quarterly dividend 18 percent to 16 1/2 cents per share from 14 cents. It's also announced a new $525 million stock buyback program.
eBay - Keefe, Bruyette & Woods is initiating coverage on eBay with an "outperform" rating. The firm says eBay is uniquely positioned to benefit from the convergence of electronic commerce, payments, and marketing.
Facebook - Chief Technology Officer Bret Taylor is leaving the company. Taylor, a former Google employee, is leaving to work on a new start-up with a former Google colleague.
Verizon Communications - The company is cutting the price of its highest-speed Internet service in half. It will offer its 150 mbps service for $99.99 per month rather than $209.99. This comes as it offers a new 300 mbps service that it will sell for that $209.99 price, beginning today.
Dreamworks Animation - The film maker saw its “Madagascar 3: Europe’s Most Wanted” take the number one spot at the movie box office for the second straight weekend.
Microsoft - Microsoft is set to make a “major” announcement today that many are speculating will be a new tablet computer, designed to boost its upcoming Windows 8 operating system and to compete with Apple’s iPad.
Morgan Stanley - A Wall Street Journal article this morning details how decisions made by Morgan Stanley may have contributed to the problems experienced during Facebook’s highly publicized initial public offering.
WellPoint - The health insurer will pay $90 million to resolve a lawsuit relating to the conversion of its Anthem unit to a stock-based company. As a result of that settlement, it cut its full year earnings forecast by eight cents per share.
Groupon - Morgan Stanley has upgraded the daily deal provider's stock to "overweight" from "equal weight."
Amylin Pharmaceuticals - The U.S. Food and Drug Administration is requesting more data on Amlyin's application involving its diabetes drug metreleptin. The company says it's actively engaged in talks with the agency to provide the requested data.
—By CNBC’s Peter Schacknow
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