Now a look at some of the stocks the Yahoo Finance team will be watching for you today.
Facebook (FB) is facing opposition from privacy advocates over its $19 billion acquisition of messaging service WhatsApp. The Electronic Privacy Information Center and the Center for Digital Democracy filed a complaint with the Federal Trade Commision claiming WhatsApp users could not have foreseen that the service would be taken over by the world's largest social network and their data used in its advertising business. Facebook has said WhatsApp will remain a separate business and the social network would respect its commitments to privacy. WhatsApp has said its users' personal data would not be shared with Facebook.
We’re also watching Big Lots (BIG) after the company beat earnings per share estimates. Revenue declined 6% from last year, but came in ahead of Wall Street estimates. In December, the company said it would exit the Canadian market and re-focus on domestic operations.
Foot Locker (FL) also beat earnings and revenue estimates on strong sales growth. Revenue grew 4.6% and profit grew 16%. Foot Locker has seen strong sales in recent years on popular new products, including shoes in bright colors and new materials.
Cerberus Capital Management is buying Safeway (SWY) for $9 billion. The nation's #2 supermarket chain will merge its brands with Albertsons, also controlled by Cerberus. The combined company will have 2,400 stores. The Cerberus bid is worth a total of $40.10 to Safeway shareholders, including cash and shares in a Safeway spinoff company that sells gift cards.
Gap (GPS) reported February same store sales fell 7%. Wall Street was looking for a gain of 1.1%. The Gap brand saw a drop in sales of 10%. Old Navy sales fell 6% and Banana Republic sales declined 7%. Gap said the weather caused the company to close more than 450 stores temporarily in February.
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