Stocks to Watch: STJ, MDT, MU & More
Take a look at some of Tuesday's morning movers:
St. Jude Medical - A study done by a cardiologist challenges the company's safety claims involving its Durata heart device, according to The Wall Street Journal.
Medtronic - The medical products maker matched estimates by reporting fiscal first-quarter earnings of $0.85 per share, excluding certain items, and revenue of $4 billion.
Best Buy - The electronics retailer reported quarterly profit of $0.20 per share, excluding certain items, well short of estimates of $0.31. Revenue also fell short, with Best Buy reporting its eighth same-store sales decline in the past nine quarters, and suspending any future earnings guidance.
Micron Technology - Bankrupt chipmaker Elpida Memory is filing its reorganization plan today, which includes details on its planned purchase by Micron. A group of bondholders has put forth an alternative plan, saying the deal with Micron undervalues Elpida.
DreamWorks Animation - The movie studio has signed a new five-year distribution deal with 20th Century Fox, owned by News Corp.. It replaces a current DreamWorks deal with Viacom’s Paramount Pictures.
Urban Outfitters - Urban Outfitters reported second-quarter profit of $0.42 per share, nine cents above estimates, with revenue also beating consensus. The youth apparel retailer also said it sees gradual improvement in its business, along with a further tightening of store inventories.
Manchester United - Investor George Soros has taken a 7.85 percent passive stake in the newly public soccer club, according to a U.S. Securities and Exchange Commission filing.
Facebook - Company director Peter Thiel has sold 20 million shares, while retaining 5.6 million shares. An SEC filing says Thiel’s share sale was planned prior to the IPO in May.
CNOOC - The China oil producer reported a first-half profit of just over $5 billion, below analysts' forecasts. An oil spill forced CNOOC to cut back on production during the first half, and it also saw increased costs.
KKR - The private-equity firm has acquired privately held Chinese retailer Novo Holdco for $30 million, hoping to cash in on the country’s $38 billion youth apparel market.
Apple - The CEOs of Apple and Samsung have talked, but have not come to any settlement in their high profile patent dispute case. The judge in the case had requested the two sides talk before the jury begins deliberating. (Read More: Is Samsung a Better Bet Than Apple?)
GNC Holdings - Barclays initiates coverage of the health products retailer with an “overweight” rating.
DSW - The shoe retailer reported quarterly profit of $0.66 per share, excluding certain items, four cents above estimates. Sales also were above analysts' forecasts.
Dex One, SuperMedia - The two small-cap(explain this) providers of Yellow Page services will combine in a stock-for-stock merger of equals. Dex One shareholders are expected to own 60 percent of the company when the deal is complete, with SuperMedia shareholders owning the remainder.
—By CNBC’s Peter Schacknow
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