Stocks to Watch: S, AMD, UBS & More
Take a look at some of Monday's morning movers:
Sprint Nextel - Japan's Softbank will buy up to 70 percent of Sprint for $20.1 billion dollars. That follows reports last week that Softbank was considering such an investment.
Advanced Micro Devices - AllThingsD reports the chipmaker will announce workforce reductions of up to 30 percent this week. That follows an earnings report last week that fell well short of Street estimates.
UBS - The bank is reportedly planning to cut about 2, 000 jobs in its information technology department as part of a new cost-cutting initiative.
Consol Energy - The energy producer said it expects a third-quarter loss, thanks to both planned and unplanned mine idlings. Analysts had been expecting Consol to earn $0.35 per share for the quarter.
Microsoft - Microsoft is planning to offer on-demand streaming music for free on its new tablet computer. The new feature is called Xbox music, and will offer a pay option for downloading songs and saving them for online playback.
BlackRock - The investment firm's shares are undervalued, according to an article in this weekend's Barron's. The paper said the firm has been improving its equity fund performance, and is working on plans to cut fees for its exchange-traded funds.
Visa , MasterCard - The two credit card issuers will ask a judge this week to approve a $7.2 billion settlement over credit card fees. But a number of merchants are opposed to the deal, saying it forces merchants to give up valuable legal rights.
News Corp. - The two largest U.S. pension funds, Calpers and CALSTRS, are reportedly voting to oust Rupert Murdoch as chairman of News Corp., as the company prepares for its annual shareholders meeting this week. The meeting is set for tomorrow in Los Angeles.
eBay - The company's PayPal unit is planning to cut as much as 3 percent of its workforce, according to Reuters. The cuts would be focused on the areas of product development, technology, and marketing.
Amazon.com - Amazon said customers who own the company's Kindle e-readers are entitled to refunds on past purchases, if a judge approves a settlement with publishers in a price fixing case. Refunds could total between 30 cents and $1.32 per book.
Watson Pharmaceuticals - Watson has received Food and Drug Administration approval to sell a generic version of Sanofi's Avapro, which is used to treat high blood pressure as well as diabetes-related kidney disease.
Progressive - The insurance company's stock has been downgraded to "sell" from "neutral" by Citi, which cited several headwinds as well as a high valuation.
Intuitive Surgical - JPMorgan Chase has upgraded the surgical products maker's shares to "overweight" from "neutral."
—By CNBC's Peter Schacknow
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