Radar Stocks to Watch: ConAgra Makes It Official, Visa Expands, and Sprint Gains Ground on Verizon
Late Monday, ConAgra (NYSE:CAG) made it official and withdrew its $94 per share bid for Ralcorp (NYSE:RAH). Since March, Ralcorp has rejected multiple bids from ConAgra, with $94 per share being the highest. Shares are trading slightly lower in late market trading.
After the closing bell, Visa (NYSE:V) announced that it signed a licensing deal to include its credit and debit cards in Google’s (NASDAQ:GOOG) mobile wallet application. Consumers will now be able to link their Visa accounts to their smartphone in order to pay for transactions. Consumers will simply wave their smartphone in front of unique cash registers to pay for a purchase. Visa shares traded higher in late trading, while Mastercard (NYSE:MA) shares remained flat.
Sprint (NYSE:S) continues to see action in late trading as Verizon (NYSE:VZ) annoys subscribers with a new data throttling plan. The company’s top 5% of data users currently under its 3G unlimited plan will now endure slower connection speeds in congested cell sites. Once they leave the area, it will resume to faster speeds. Sprint will also be launching the iPhone 5 in October.