Stocks to Watch: BUD, STZ, WMT & More
Take a look at some of Monday's midday movers:
Anheuser-Busch InBev moved higher after the maker of Budweiser said it was in discussions with Mexican brewer Modeloabout increasing its stake in the Corona Beer maker.
Constellation Brands also moved higher on the AB InBev news. It distributes Corona and other imported beers in the U.S. via a joint venture with Modelo.
Wal-Mart Stores rose as investors looked for a defensive play. The retailer has climbed 14 percent since mid-May.
J.C. Penney continued to lose ground. Barron’s predicted there were more declines to come.
Momenta and Teva moved in opposite directions after Momenta lost a multiple sclerosis patent lawsuit brought against it by Teva.
Pfizer and Bristol-Myers Squibb were both lower after U.S. regulators failed to approve their closely watched blood clot preventer.
GeoEye tumbled after the satellite imagery provider said the U.S. National Geospatial-Intelligence Agency won’t renew a major contract with it due to budget restraints.
Quest Software moved higher after it said it received a $2.32 billion offer from Dell, topping an earlier offer of $2.17 billion from private investment firm Insight Venture Partners.
Oil stocks, including Exxon-Mobil; Chevron; Valero Energy; BP; and ConocoPhillips all losing ground as oil prices continue to fall.