Barnes & Noble
There may be a new chapter ahead for Barnes and Noble BKS. Chairman Leonard Riggio wants to buy the company's retail business. In papers filed just this morning, Riggio says he wants to acquire BN's stores and website, but not the division that makes the Nook e-reader. No price was disclosed. Barnes and Noble has not risen along with the recent tide in the broader market. The company will report earnings on Thursday.
It has been a disastrous morning for drug maker Affymax AFFY. It's down about 75% on news that it's recalling a drug to treat anemia. Affymax has been atop Market Pulse, meaning more people are tweeting about it than any other corporation. Apparently the drug in question was causing severe allergic reactions. Other companies in the Market Pulse top 5 include Barnes and Noble and Heska.
BP BP PLC isn't settling for less. It looks like the company will in fact go to trial today in a civil case stemming from The Gulf oil spill. Prosecutors spent the weekend bargaining with company reps. The latest offer would be a 16-billon dollar payout. BP may be pushing to pay penalties, which are tax deductible, instead of fines.
4 Stocks To Watch
First off Lowes LOW. The home improvement chain has just come out with earnings this morning. The company made 26-cents per share, beating estimates by 3-cents. Much of the revenue was a result of Hurricane Sandy. Lowes has seen its stock price climb since the summer. In fact its price to earnings ratio is now above 22.
Also reporting this morning is Hertz HTZ which has been on a similar climb. In fact it hit a 52-week high in trading after Friday's closing bell. This has been a transition time for Hertz which bought competitor Dollar Thrifty back in November. The company reported a $2.6 billion loss with that acquisition. That comes out to 9-cents a share.
Casino operator Caesars Entertainment Group CZR is reporting later today. Srares have been up more than 4% in premarket trading. The company stock has really popped in the last month. It also jumped on Friday when Nevada legalized online gambling. New Jersey's expected to do the same later this week.
And finally, GM GM which is cruising ahead of its competitors on the information superhighway. The automaker will announce today that it's equiping 2014 models with 4G internet access through the center console and backseat. The connection would be up to 10 times faster than what's available in other cars. So far GM stock has not fared well this year, down about 10%.