J.C. Penney (JCP)- Hedge fund manager Bill Ackman tells CNBC's "Squawk Box" that the retailer's recently reported first-quarter sales plunge represented a bottom, and that CEO Ron Johnson is following the right strategy to revamp the chain's image and attract new customers. Ackman's Pershing Square is Penney's largest shareholder.
Vertex Pharmaceuticals (VRTX) - The drugmaker's stock is under pressure after it corrected data involving a trial of its cystic fibrosis treatment. The correction lowers the number of patients showing improved lung function.
Chesapeake Energy (CHK) - Investor Carl Icahn has taken a 7.6 percent stake in the energy producer. Icahn is calling for at least four of the company’s board members to be replaced. Chesapeake says it agrees with Icahn that its stock is substantially undervalued and that it will “carefully review” his letter to the company.
Facebook (FB) - Facebook is in talks to buy Norway’s Opera Software, according to a Reuters report. Opera is the maker of a popular web browser, but is said to be in Facebook’s sights because of its advanced mobile phone software technology.
Human Genome Sciences (HGSI) - A shareholder is suing to keep the company from using a “poison pill” defense in its bid to fend off a hostile $2.6 billion takeover bid from GlaxoSmithKline [GSK 44.28 0.04 (+0.09%) ]. Glaxo has said it would not proceed with its $13 a share offer unless the poison pill was dropped.
BP (BP) - The U.S. Justice Department is reportedly investigating whether BP officials lied to Congress about the quantity of oil leaking following the 2010 Deepwater Horizon accident. The Wall Street Journal says investigators are also looking into the possibility that engineers involved in efforts to plug the leak attempted to withhold data from the government.
Apple (AAPL)- A report out of Japan says manufacturer Foxconn Technology has received orders for a trial production of Apple TV, though the report did not specify a timeline. Separately, Royal Bank of Canada says the recent pullback in Apple shares represents an attractive entry point.
Research in Motion (RIMM) - The BlackBerry maker may eliminate at least 2,000 jobs worldwide in yet another round of restructuring, according to the Toronto Globe and Mail. One source told the paper that the number of layoffs could be as many as 6,000.
Peabody Energy (BTU) - The energy producer's stock has been upgraded to "buy" from "neutral" at Goldman Sachs, citing leverage to rising thermal prices.
JPMorgan Chase (JPM) - JPMorgan has sold about $25 billion in profitable securities, in an effort to offset the recently reported $2 billion trading loss.
Vertex Pharmaceuticals (VRTX) - The drugmaker's stock is under pressure after it corrected data involving a trial of its cystic fibrosis treatment. The correction lowers the number of patients showing improved lung function.
Chesapeake Energy (CHK) - Investor Carl Icahn has taken a 7.6 percent stake in the energy producer. Icahn is calling for at least four of the company’s board members to be replaced. Chesapeake says it agrees with Icahn that its stock is substantially undervalued and that it will “carefully review” his letter to the company.
Facebook (FB) - Facebook is in talks to buy Norway’s Opera Software, according to a Reuters report. Opera is the maker of a popular web browser, but is said to be in Facebook’s sights because of its advanced mobile phone software technology.
Human Genome Sciences (HGSI) - A shareholder is suing to keep the company from using a “poison pill” defense in its bid to fend off a hostile $2.6 billion takeover bid from GlaxoSmithKline [GSK 44.28 0.04 (+0.09%) ]. Glaxo has said it would not proceed with its $13 a share offer unless the poison pill was dropped.
BP (BP) - The U.S. Justice Department is reportedly investigating whether BP officials lied to Congress about the quantity of oil leaking following the 2010 Deepwater Horizon accident. The Wall Street Journal says investigators are also looking into the possibility that engineers involved in efforts to plug the leak attempted to withhold data from the government.
Apple (AAPL)- A report out of Japan says manufacturer Foxconn Technology has received orders for a trial production of Apple TV, though the report did not specify a timeline. Separately, Royal Bank of Canada says the recent pullback in Apple shares represents an attractive entry point.
Research in Motion (RIMM) - The BlackBerry maker may eliminate at least 2,000 jobs worldwide in yet another round of restructuring, according to the Toronto Globe and Mail. One source told the paper that the number of layoffs could be as many as 6,000.
Peabody Energy (BTU) - The energy producer's stock has been upgraded to "buy" from "neutral" at Goldman Sachs, citing leverage to rising thermal prices.
JPMorgan Chase (JPM) - JPMorgan has sold about $25 billion in profitable securities, in an effort to offset the recently reported $2 billion trading loss.
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