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Today's stock market news, Feb. 13, 2014: The markets were flat on Wednesday following one of the largest four-day bull runs in recent history. Meanwhile, a massive winter storm has paralyzed the East Coast. The markets will remain open, however, on Thursday.
Five Biggest Stories in Today's Stock Market, Feb. 13, 2014
- Comcast Buys Time Warner: In and all-stock deal, Comcast Corp. (Nasdaq: CMCSA) plans to acquire Time Warner Cable (NYSE: TWC) for $159 per share, or $45.2 billion. Comcast plans to pay an 18% premium over Wednesday's closing price. The deal comes just days after Charter Communications (Nasdaq: CHTR) planned a hostile takeover strategy by nominating 13 new candidates to replace Time Warner's entire board of directors. The deal will likely face intense scrutiny from regulators.
- Snow Day in Washington: The U.S. Senate Banking Committee has delayed its Thursday hearing with Federal Reserve Chair Janet Yellen. The East Coast snowstorm that hit last night and continues through this morning will make travel in the area difficult for commuters. The Senate will reschedule the meeting in the near future.
- Apple TV Announcement: According to Bloomberg, Apple Inc. (Nasdaq: AAPL) has planned the release of a new set-top television box. The company is working with several cable firms to procure video content. The company will likely demonstrate the new TV box as soon as April. However, the company will likely not release the product until the 2014 holiday season. This came on the same day that bloggers released information on the iPhone 6, which will be lighter with a larger, higher resolution screen than its predecessor, the iPhone 5.
- Spring Hiring Kick: Both Amazon.com Inc. (NYSE: AMZN) and The Home Depot Inc. (NYSE: HD) announced they will undergo major hiring surges this spring. Amazon will hire more than 2,500 full-time workers in several states as the firm's fulfillment centers grow across the nation. Home Depot will hire 80,000 spring workers in the next few months to prepare for its busiest retail quarter.
- A Big Brand Shakeup: The Wall Street Journal reports that Merck & Co. Inc. (NYSE: MRK) is attempting to sell its portfolio of consumer-branded products including Coppertone sunscreen and Claritin allergy pills. Interest in the brand lines are booming from large consumer and healthcare industry firms. A possible deal could fetch bids higher than $10 billion. Shares of Merck are flat in pre-hours trading.
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U.S. Economic Calendar Feb. 13, 2014
- Jobless Claims at 8:30 a.m.
- Retail Sales at 8:30 a.m.
- Bloomberg Consumer Comfort Index at 9:45 a.m.
- Business Inventories at 10:00 a.m.
- EIA Natural Gas Report at 10:30 a.m.
- 3-Month Bill Announcement at 11:00 a.m.
- 6-Month Bill Announcement at 11:00 a.m.
- 30-Yr TIPS Announcement at 11:00 a.m.
Key Companies Reporting Earnings Feb. 13, 2014
- Consensus earnings per share for American International Group (NYSE: AIG) is $0.96.
- Consensus earnings per share for Bankrate Inc. (NYSE: RATE) is $0.15.
- Consensus earnings per share for Bunge Ltd. (NYSE: BG) is $2.15.
- Consensus earnings per share for Burger King Worldwide Inc. (NYSE: BKW) is $0.23.
- Consensus earnings per share for Cliffs Natural Resources Inc. (NYSE: CLF) is $0.79.
- Consensus earnings per share for GNC Holdings Inc. (NYSE: GNC) is $0.64.
- Consensus earnings per share for Kraft Foods Group Inc. (Nasdaq: KRFT) is $0.61.
- Consensus earnings per share for Orbitz Worldwide Inc. (NYSE: OWW) is $0.00.
- Consensus earnings per share for PepsiCo Inc. (NYSE: PEP) is $1.01.
- Consensus earnings per share for Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) IS $0.70.
Others Reporting Earnings
- Agilent Technologies Inc. (NYSE: A), Avon Products Inc. (NYSE: AVP), CafePress Inc. (Nasdaq: PRSS), CRA International Inc. (Nasdaq: CRAY), Equifax Inc. (NYSE: EFX), Kona Grill Inc. (Nasdaq: KONA), Regal Entertainment Group (NYSE: RGC), Sonoco Products Co. (NYSE: SON), The Goodyear Tire & Rubber Co. (Nasdaq: GT), TreeHouse Foods Inc. (NYSE: THS), Weight Watchers International Inc. (NYSE: WTW)
Check out our latest "Ahead of the Street" stock pick: Why Wall Street Would Love to Bug Our Phones
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.