Stocks to watch: Best Buy, News Corp.
The electronics retailers is reportedly a buyout candidate, and the media company will decide about splitting into 2.
Best Buy (BBY) is reportedly a buyout candidate. According to The Wall Street Journal, founder Richard Schulze is working with bankers to possibly put together a deal to take the company private.
The board of News Corp. (NWSA) will decide Wednesday whether to proceed with a split of the media giant into two companies, according to The Wall Street Journal. The newspaper, which is owned by News Corp., first reported Monday the company was mulling separating its smaller publishing business from its entertainment businesses.
If the board approves the split, News Corp. is expected to announce the restructuring Thursday morning, a person familiar with the situation told the Journal. News Corp. on Monday confirmed it was contemplating a split.
General Mills (GIS) is expected by analysts Wednesday to report fiscal fourth-quarter earnings of 59 cents a share on revenue of $4.10 billion. The maker of Cheerios on Tuesday announced an 8% increase to its quarterly dividend to 33 cents a share from 30.5 cents. The higher payout gives the stock a forward annual yield of 3.5% at current levels.
Agriculture giant Monsanto (MON) is seen posting fiscal third-quarter earnings of $1.55 a share on sales of $3.96 billion.
Lennar (LEN), the homebuilder, is expected by analysts Wednesday to post a second-quarter profit of 17 cents a share on revenue of $885.6 million.
Bristol-Myers Squibb (BMY) announced an additional $3 billion buyback authorization after Tuesday's closing bell.
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The NBA star could receive as much as $300 million in the 10-year deal, according to reports.
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