Here are some of the stocks the Yahoo Finance team will be watching for you today.
American Apparel (APP) shares fell in early trading. The founder and ousted chairman Dov Charney is gaining ground on trying to take back his company. It was revealed last night that Charney acquired an additional 17% stake in the company through a partnership with hedge fund Standard General. This is on top of the 27% stake Charney already has, which brings his total stake in the company to around 44%. American Apparel instituted a one-year poison pill to make it difficult for anyone to buy a large stake in the company.
Keurig Green Mountain (GMCR) shares rose in early trading after the company signed a multi-year deal with Nestle that will bring its Coffee-Mate products to the Keurig system. The Nestle K-Cup packs will be available in stores this fall.
Hormel Foods (HRL) is adding another product to its line-up. The maker of Spam and Skippy peanut butter is buying privately-held Muscle Milk maker CytoSport $450 million dollars.
Xerox (XRX) also on investors’ radar this morning. The company is reportedly looking to raise some money by auctioning off over 200 patents. The patents are only a small portion of more than 12,000 active U.S. patents Xerox currently owns. The bidding is expected to take place between July 24th and July 29th.
- Consumer Discretionary
- Mergers, Acquisitions & Takeovers
- American Apparel
- Dov Charney