Stocks to Watch: KCG, TSN, CTSH & More
Senior Producer, CNBC
Take a look at some of Monday's morning movers:
Knight Capital Group - As first reported by CNBC's David Faber, Knight has struck an agreement for $400 million in financing from a group of investors. The investment will come through convertible preferred stock, and will involve firms such as Blackstone Group, TD Ameritrade, Stifel Nicolaus, and Jefferies Group.
Tyson Foods - Tyson earned $0.50 per share for its third quarter, four cents short of estimates, with revenue also short of consensus. It also cut its fiscal 2012 sales outlook, citing rising input costs.
Cognizant Technology - The technology services provider earned $0.88 per share for its second quarter, excluding certain items, eight cents above estimates. It also raised its full year forecast, as demand rises for its outsourcing services.
Berkshire Hathaway - Warren Buffett’s company earned $2,552 per share for the second quarter, above estimates of $1,777 a share. Overall profits were down 9 percent from a year earlier, but operating earnings jumped 38 percent thanks to a significant improvement in Berkshire’s insurance operations.
American International Group - The Treasury Department is increasing the size of its planned sale of AIG shares. It has agreed to sell nearly 164 million shares at a price of $30.50 per share. AIG is buying $98.3 million of those shares. The sale decreases the Treasury’s stake in the insurer to 55 percent from 61 percent.
Sony - The electronics giant has been put on review by Moody’s Investors Service for a possible ratings downgrade, because of concerns surrounding weak consumer sentiment, a stronger yen, and rising debt.
Teva Pharmaceutical - Teva has received a Securities and Exchange Commission subpoena, with the world’s largest generic drugmaker being investigated over its compliance with U.S. anti-bribery laws. Teva says it is cooperating with the investigation.
General Motors - The automaker said its sales in China were up 15.1 percent in July from the same month last year, with sales for the first seven months of the year up 11.7 percent compared to a year earlier. GM makes vehicles in China through a joint venture partnership with SAIC and FAW Group.
Sealy, Mattress Firm, Tempur-Pedic International, and Select Comfort - The mattress makers could get a boost from a deal involving Serta brand maker National Bedding. Parent company AOT Bedding Super Holdings is selling a majority stake to private equity firm Advent International for a reported $3 billion.
Wal-Mart Stores - The retailer has been upgraded to "buy" from "hold" at Stifel Nicolaus, which said the upcoming second-quarter earnings report could be a catalyst for shares. Stifel said its surveys indicate upbeat sales at the world's largest retailer.
Kraft Foods - The food maker has been upgraded to "buy" from "hold" at Jefferies, which has increased its price target for Kraft to $48 from $41.
—By CNBC’s Peter Schacknow
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