ISS Sides With Dell, Morgan Stanley Bumps Priceline, and 3 More Hot Stocks
Dell Inc. (NASDAQ:DELL): Shareholder advisory agency ISS has officially sided with Michael Dell and Silverlake’s side of the bidding war, issuing a potential blow to Carl Icahn’s efforts to buy into the company. The shareholders, who are set to vote on the issue on July 18, have been eagerly awaiting the recommendation from ISS, one of the largest shareholder services in the world. Dell and Silverlake are offering $13.65 per share for the leveraged buyout effort.
Priceline.com (NASDAQ:PCLN): Shares have gotten a bump from Morgan Stanley, which upgraded its rating on the company to Overweight from Neutral based on easing margin pressures. A survey of European hotels pointed to an improved competitive position, growing inventory at Bookings.com, and stabilizing margins, the firm said.
Boeing Co. (NYSE:BA): Were it not for superior design of the 777, far more people woud have perished in the Asiana Airlines crash outside of San Francisco over the weekend, Reuters says. So far, there are no indications of mechanical failure on the plane, and the crash is being attributed initially to pilot error, offering a moment of relief for the manufacturer, which has had a trying year so far.
GlaxoSmithKline (NYSE:GSK): An anonymous tip alleging sales staff would pay doctors with cash and perks for prescribing Botox and use private email accounts — as opposed to company emails addresses – to cover their tracks has prompted further investigations of bribery at the pharmaceutical giant, which said it has so far found no evidence of bribery or corruption connected to Botox. The company’s statements echoed the same findings last month when dealing with similar allegations.
BP (NYSE:BP): BP is due in court Monday to address its appeal against the way claims administrator Patrick Juneau is overseeing the payments to businesses that were supposedly affected by the 2010 Gulf oil spill as part of a compensation settlement. The company wants to halt payments being made while an investigation looks into the payouts. BP is contending that Juneau’s incomplete understanding of the terms of the agreement allows unaffected businesses to receive money that they are not entitled to.