Investors Are Chasing These Stocks This Morning
Here’s a look at some of the most sought after stocks in premarket trades this morning.
1) Electronic Arts (NASDAQ:ERTS) -3.68% said it’s agreed to buy PopCap Games, for at least $765 million in cash and common stock. PopCap’s group is also entitled to a variable cash consideration making the total deal worth up to $1.3 billion. The variable add-on is contingent upon achievement of certain earnings performance milestones through December 2013. Electronic Arts also revised higher its financial forecast for the first quarter ended June 30.
2) Capital One (NYSE:COF) -1.28% reported a second-quarter profit of $911 million, or $1.97 a share, up from $608 million, or $1.33 a share, earned in the year-earlier period. A survey of analysts by FactSet Research produced a consensus estimate of $1.73 a share for the June quarter, as revenue rose 2.2% to $3.99 billion. The company also announced plans to sell $2 billion in common stock. Here’s your previews for this week’s big bank earnings: “Citigroup, Inc. Second Quarter Earnings Sneak Peek” and “JPMorgan Chase Second Quarter Earnings Sneak Peek“.
3) Dean Foods Co. (NYSE:DF) +0.76% announced an agreement to settle a class-action lawsuit brought in a Tennessee federal court by dairy farmers. The company will place a total of $140 million over four to five years in a fund that will be available for distribution to plaintiffs in the suit over milk prices. Dean said it expects to take an unspecified charge against second-quarter results in connection with the settlement, which must still be approved by a federal judge.