Stocks to Watch: PCS, FDO, BBY & More
Take a look at some of Wednesday’s morning movers:
MetroPCS - A German newspaper reported that the company's board has approved a deal to merge with Deutsche Telekom's T-Mobile unit. The two sides had acknowledged Tuesday that they were in talks about such a deal.
Family Dollar - The retailer earned $0.75 per share for its fourth quarter, excluding certain items, matching Street estimates. Revenue was in line with forecasts, though continued pressure on profit margins could weigh on the stock.
Best Buy - Founder Richard Schulze and at least four private-equity firms are examining the electronics retailer’s books, according to Reuters. Sources said these early steps could lead to a buyout worth as much as $11 billion.
Oracle - In a wide ranging interview on CNBC’s “Closing Bell” late Tuesday, CEO Larry Ellison said the company is not planning any major acquisitions, and that Oracle has all the assets in house that it needs to grow rapidly. (Read More: So Why Does Ellison Need a $4 Billion Line of Credit?)
InterMune - Canadian regulators have approved the biotech company’s drug Espriet for use in trading idiopathic pulmonary fibrosis. The drug is now approved for use in 29 European countries, Japan, and South Korea, and the company continues its efforts to have the drug approved in the U.S. following a May 2010 rejection.
Microsoft - The software giant's stock got a positive mention at Bernstein, which says there are a number of factors that could drive revenue higher than currently forecast.
Ford Motor , General Motors - The U.S. auto industry’s annual sales rate for September totaled 14.94 million units, up from 13.14 million a year earlier and the highest monthly rate since March 2008. (Read More: September Sales Show Toyota Nipping at Ford’s Heels.)
AutoNation - The auto retailer said new car sales were up 23 percent in September compared to a year earlier, and up 22 percent for the third quarter.
Vivus - The drug company has won the dismissal of a securities class action lawsuit that had been filed in November 2010.
Nokia - The handset maker is considering selling its Finland headquarters to raise cash, although it said it has no plans to move.
—By CNBC’s Peter Schacknow
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