Stocks to Watch: JEF, RIMM, DIS & More
Senior Producer, CNBC
Take a look at some of Monday's morning movers:
Jefferies Group - Jefferies is being bought by major shareholder Leucadia National in a stock deal worth about $3.7 billion. The deal represents roughly a 23 percent premium for Jefferies shareholders. The story was first broken by CNBC's David Faber on this morning's edition of "Squawk Box."
Research In Motion - RIM will hold a launch event for its new BlackBerry 10 operating system on Jan. 30, 2013.
Walt Disney - Citi has upgraded Disney shares to "buy" from "neutral," saying its investments in its theme parks and its purchase of Lucasfilm will set Disney up for a healthy 2014 and 2015, despite any short-term negative impact.
Celgene - The drugmaker said its pancreatic cancer drug Abraxene improved survival rates in a late-stage study.
Hertz Global - The Wall Street Journal reported the car rental company has agreed to new concessions to win approval for its acquisition of Dollar Thrifty. Hertz has tentatively agreed to give up about a dozen airport locations at U.S. airports. The U.S. Federal Trade Commission faces a Friday deadline to either okay or block the takeover.
J.C. Penney - After the retailer's shares tumbled Friday on a much-worse-than-expected earnings report, it's now seeing its credit rating cut further into junk territory by Standard & Poor's. S&P now rates J.C. Penney at B-, down from the prior B .
Titanium Metals - The company is being bought by Precision Castparts in a deal worth about $2.9 billion or $16.50 per share. That's a 43 percent premium over Titanium's Friday closing price of $11.57.
CreXus Investment - Annaly Capital is seeking to buy the portion of CreXus that it doesn't already own. Annaly currently holds about 12.4 percent of the outstanding shares of the specialty finance company.
General Motors - GM is reportedly the leading bidder to buy Ally Financial's auto financing units in Europe and Latin America for about $4 billion, according to Reuters. Sources said GM would be interested if Ally sells those operations as a whole. Ally was the former lending arm of GM back when it was known as GMAC.
Apple - Apple has settled outstanding patent disputes with smartphone maker HTC, and have announced a 10-year patent cross licensing agreement.
JPMorgan Chase - JPMorgan executives won't be charged in investigations involving sales of mortgage-backed securities, according to The Wall Street Journal. The bank will pay an undetermined penalty to settle allegations of fraud, although the penalty is expected to be less than the $550 million Goldman Sachs paid in 2010 to settle similar claims.
Garmin - Goldman Sachs has downgraded Garmin to "sell" from "neutral," in part because of weakening sales of personal navigation devices.
Caterpillar - JPMorgan Chase has downgraded the heavy equipment maker's stock to "neutral" from overweight," saying Caterpillar doesn't have the balance sheet to support share repurchases.
TripAdvisor - Morgan Stanley has upgraded the travel website operator's shares to "overweight" from "underweight," citing a positive alteration of TripAdvisor's monetization strategy.
Johnson & Johnson - Jefferies has downgraded J&J's shares to "hold" from "buy," saying the company has already seen the bulk of immediate benefits from its acquisition of Synthes.
—By CNBC's Peter Schacknow
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