5 Hot Stocks Traders are Watching: Pfizer, InterActive Corp, Yahoo, GE, and Philip Morris
Pfizer (NYSE:PFE) shares were down 0.22% to $18.25 after Barclays downgraded shares to Equal Weight and cut their price target 10% to $19. The pharma giant is also delaying a sale of its infant-nutrition business to determine whether a tax-free spinoff is best for shareholders. Pfizer also cut a deal with Callidus Software Inc. (NASDAQ:CALD) to extend its use of the Callidus’s cloud-based sales platform.
Yahoo’s (NASDAQ:YHOO) board is expected to meet today to discuss many important issues facing the troubled Internet firm. Top on the list is the search for a new chief executive after the departure of Carol Bartz. Don’t Miss: Yahoo’s Stock Smacked Again as Bartz Departs with Golden Parachute.
General Electric Co. (NYSE:GE) said it will buy back Warren Buffett’s preferred shares for $3.3 billion to be paid to Berkshire Hathaway Inc. (NYSE:BRKB). Buffett bailed out GE at the height of the financial crisis is 2008.
Philip Morris International Inc. (NYSE:PM) increased its quarterly dividend 13 cents — more than 20%. The tobacco company will now pay out a quarterly dividend of 77 cents a share, up from 64 cents a share.
Hot Feature: Your Cheat Sheet to the Money Gushing Tobacco Industry.