BP Asks for Settlement Hold, Intel Goes Shopping, and 3 More Hot Stocks
British Petroleum (NYSE:BP): BP has requested a temporary halt on settlement payments stemming from the 2010 Deepwater Horizon spill, while former FBI director Louis Freeh launches an investigation into allegations of misconduct within the settlement program. ”There is a material risk that payments going out the door have been and continue to be tainted,” a spokesperson for the oil giant told Reuters.
Intel Corp. (NASDAQ:INTC): Intel has acquired Israeli firm Omek Interactive, which specializes in gesture-motion software and technology, for $40 million. Seeking Alpha notes that Intel has a long track record of investing in, and sometimes purchasing, developers of technologies that the chip giant thinks can drive demand for more powerful CPUs, and perhaps help build an ecosystem around them.
Google (NASDAQ:GOOG): Internet-based TV content is certainly becoming a hot commodity, and now Google apparently wants in on the action. The company has reportedly engaged in discussions with TV networks about licensing their content for an Internet TV service that would stream traditional TV programming, sources told the Wall Street Journal. Many others have also considered the idea, although pay-TV providers have pushed back firmly, looking to maintain the status quo.
McDonald’s (NYSE:MCD): A cut from Buy to Hold at Janney Montgomery Scott with the price target lowered to $105 from $115 has sent McDonald’s share falling slightly, with Janney owing its decision to ”increased concern regarding domestic sales trends relative to consensus.” The firm also cut its June same store sales gain estimates for the fast-food company by 90 bps to 1.1 percent.
Mattel, Inc. (NASDAQ:MAT): Misses on both EPS and revenue have driven shares down by over 6 percent, as net profit fell off by 23 percent to $73.3 million, albeit with a revenue bump, up 1 percent to $1.17 billion. Barbie sales tanked by 12 percent, but American Girl sales rose 14 percent. Hot Wheels slid by 1 percent. North American gross sales fell 2 percent, while international gross sales gained 4 percent. The company also increased its share repurchase program by $500 million.
Don’t Miss: BP Still Seeking to Halt Restitution Payments.