J.C. Penney Pens Stockholder Rights Plan, Canada Keeps an Eye on BlackBerry, and 2 More Hot Stocks
J.C. Penney (NYSE:JCP): J.C. Penney has developed a one-year stockholder rights plan in order to protect itself against any abusive takeover plots and maintains that the action isn’t a reaction to any current outside efforts to gain control of the company, but rather a preemptive measure.
BlackBerry (NASDAQ:BBRY): ”I know that they’re facing their challenges and they’re adjusting their firm internally … all I can say is, we wish them well, and we’re keeping a close eye on the situation,” Canada’s industry minister, James Moore, said during a Reuters interview. ”We want them to do well, keep employing Canadians, keeping putting out innovative technologies and platforms, and we’re paying close attention,” he added, though he didn’t elaborate on the possibility of the Canadian government blocking a foreign buyer for BlackBerry.
Yahoo (NASDAQ:YHOO): With the acquisition of Tumblr under its belt, Yahoo is now perched on top of comScore’s list of 50 U.S. Web properties for the first time since March 2008. The figures estimate that Yahoo’s sites had 196.6 million unique U.S. visitors in July, up from 188.7 million in June and above the now No. 2 Google (NASDAQ:GOOG) sites, which are estimated to have pulled in 192.2 million U.S. uniques.
United Parcel Service (NYSE:UPS): UPS says that it plans to cut off health benefits to 15,000 working spouses of employees starting in 2014, a move the company says was prompted in part by higher costs related to the Affordable Care Act. An internal memo indicated that UPS expects an 11.25 percent increase in health coverage costs in 2014 over 2013 versus its normal 6 percent to 7 percent increase in annual costs.