Stocks to Watch: CVH, AET, BBY & More
Take a look at some of Monday's morning movers:
Coventry Health Care - Coventry has struck a deal to be acquired by Aetna for $5.7 billion in cash and stock. The price of $42.08 per share is a more than 20 percent premium to Coventry’s closing price on Friday.
Best Buy - Buyout talks between the electronics retailer and founder Richard Schulze have broken down, with Best Buy saying Schulze had rejected its due diligence offer. Schulze has offered to buy the company for between $24 and $26 per share. Separately, Best Buy has selected Hubert Joly as its new CEO to replace interim chief Mike Mikan. Joly is former head of privately held travel company Carlson.
Facebook - A court has rejected a proposed legal settlement over charges that Facebook violated its members’ rights through its "sponsored stories" advertising program.
AMR Corp. - American Airlines flight attendants have accepted the company’s contract offer, voting nearly 60 percent in favor. That means AMR will not go to court to attempt to void a prior pact with that group as it unsuccessfully tried to do with its pilots.
Google - The company's Motorola Mobility unit has filed a new claim with the International Trade Commission against Apple, saying Apple infringed seven of its patents. Those patents include those for the iPhone, iPad, and iPod Touch. (Read More: What Apple's Patent Case Could Mean for Smartphones.)
Netflix - CEO Reed Hastings tells the Sunday Telegraph that his company will attempt to outbid British Sky Broadcasting for the premium rights to movies from Hollywood’s six biggest studios. BSkyB current holds those rights. Netflix launched in the U.K. and Ireland in January and has more than one million customers there.
Groupon - The Wall Street Journal reports that early backers of the daily deals company are now selling their shares, including Silicon Valley veteran Marc Andreesen.
Diageo - The spirits maker is reportedly close to buying the Jose Cuervo tequila business from Mexico's Beckmann family for about $3 billion. That's according to London's Sunday Times.
—By CNBC’s Peter Schacknow
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