Here are the companies the Yahoo Finance team is watching for you today.
A huge deal in pharmaceuticals. Bristol-Myers Squibb is buying Celgene in a cash and stock deal worth $74 billions. Bristol-Myers says the deal will create a quote "innovative biopharma leader". It's expected to close by the third quarter of this year.
A blackout this morning for customers of Charter's Spectrum TV who want to watch Tribune channels. The two companies couldn't reach a deal, so stations like WGN America have gone dark on the Spectrum cable service. Spectrum says Tribune's demands are unreasonable, while Tribune says it's offered quote "fair market rates" to turn the channels back on.
It looks like Sears Chairman Eddie Lampert has a plan ‘B’, if his bid to keep the store running falls short. The billionaire disclosed in a filing that his hedge fund is willing to buy Sears real estate for some $1.8 billion. That comes days after he filed a $4.4 billion dollar bid to keep the company afloat. A spokesman tells the Wall Street Journal they continue to believe in keeping Sears running.
More trouble this morning for California utility PG&E. It's now facing a lawsuit over a 2013 wildfire that destroyed a power plant in Sonoma County. Geysers Power Company says the utility failed to maintain its transmission equipment, and that's what led to the fire. PG&E says it's aware of the suit, and focused on helping communities rebuild.