Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
Sempra Energy (SRE) tops our list. The natural gas company bid nearly $9.5 billion for Oncor, beating out Berkshire Hathaway’s (BRK-A) offer for the Texas utility company. Oncor delivers power to nearly 3.5 million homes and owns transmission and distribution lines that are attractive to Sempra. Berkshire, as expected, announced it will not raise its offer for Oncor. The purchase still needs to be approved by a bankruptcy judge.
B&G Foods (BGS) has reached a deal to buy SnackWell’s cookies and Back to Nature granola bars for $162.5 million. President and CEO Robert Cantwell said the acquisition will give the company more clout with natural food retailers as consumer eating habits change. He also added that he hopes to add more brands like these in the future.
Fiat Chrysler (FCAU) denied rumors of a potential buyout by China’s Great Wall Motor Company. Fiat released a statement saying that it has not been approached by the company in connection with its Jeep brand or any other matter relating to its business. The response came after a spokesman for the Chinese group confirmed reports that it is pursuing Fiat.
Nike (NKE) shares added to Friday’s more than 4% loss on Monday. Jefferies downgraded the stock this morning to hold from buy and cut its price target by $15 to $60 a share. The firm pointed out that competition in the US market is rising, and that’s putting pressure on growth and margins.
And we’re also keeping an eye on shares of Starbucks (SBUX). Over the weekend, Barron’s noted in its cover story that the coffee chain is at one of its cheapest valuations in years, and the stock could rise 20% or more over the next year as its popular mobile order-and-pay feature continues to drive digital sales.