Market Insider

Stocks to Watch: P, FB, MFRM & More

Peter Schacknow
WATCH LIVE

Take a look at some of Wednesday's morning movers:

Our stocks to watch list is once again populated with companies that have either accelerated dividend payments, declared special dividends, or both: Covidien, Pike Electric, Intrepid Potash, Maiden Holdings, Kansas City Life, Cognex, and ePlus.

Pandora Media - Pandora reported third-quarter profit of $0.05 per share, four cents above estimates, with revenue also exceeding consensus. However, the online streaming music service gave a current-quarter forecast for both earnings and revenue well below Street estimates. According to CEO Joe Kennedy, Pandora's advertisers are displaying caution about ad spending because of economic concerns.

Facebook - The stock will be added to the Nasdaq 100 index ahead of the Dec. 12 open, seven months after Facebook went public. It replaces tech firm Infosys, which is switching its listing to the New York Stock Exchange.

MattressFirm - Mattress Firm is lowering its full-year earnings per share (EPS) guidance to $1.49 to $1.52 a share from the prior $1.67 to $1.73 a share. Current Street estimates are at $1.69 a share. The seller of name-brand mattresses said traffic growth has slowed in recent weeks.

Altera - The company is lowering its current-quarter revenue outlook, because of weakening sales of some of the chip maker's older products. Altera said sales this quarter will fall 8 percent to 10 percent from third-quarter levels, compared to a prior expectation of a 6 percent to 10 percent drop.

Waste Management - Goldman Sachs has upgraded the stock to "buy" from "neutral," saying a rebound in residential fixed investment will drive prices and volume higher for municipal solid waste collection.

Republic Services - Goldman has added the stock to its "Conviction Buy" list, citing the same reasons outlined in its upgrade of Waste Management.

Bristol-Myers Squibb - The drug maker is raising its quarterly dividend by one cent to $0.35 per share.

Boeing - Boeing's 787 Dreamliners will be inspected for a potential fuel line issue, following an Federal Aviation Administration directive. Boeing says these inspections have already been completed on about half the in-service fleet. Boeing said it's also taking steps to ensure proper installation on jets that are now in production.

Amazon.com - Amazon will announce its new "Kindle Free Time Unlimited" service today, a Kindle-based content service for children. Amazon hasn't yet specified the exact content that will be available.

HSBC - The bank is selling its 15.6 percent stake in Chinese insurer Ping An for approximately $9.4 billion. The buyer is a Thai conglomerate.

Freeport-McMoRan - The natural resources producer is seeking to acquire two public companies with operations in the Gulf of Mexico, according to the Financial Times. McMoRan Exploration was mentioned as one target. That could move Plains Exploration, which owns a 31.5 percent stake in McMoRan Exploration.

—By CNBC's Peter Schacknow

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