Stocks to watch today include TRW Automotive, Alcoa and more:
TRW Automotive said it received a federal subpoena as part of an antitrust investigation of auto parts suppliers. The probe into possible violations of antitrust laws could take several years and “result in significant penalties,” the company said.
Kicking off U.S. earnings season after the close Monday, Dow component Alcoa is expected to report a second-quarter profit of 34 cents a share, according to a consensus survey compiled by FactSet Research.
Houston-based Dynegy is beginning the process of seeking lenders for new senior secured credit facilities, which the company said late Sunday it anticipates completing at the end of July. In conjunction with entering into the new credit facilities, Dynegy said it would reorganize its natural-gas and coal generating plants into two operating divisions. The company hopes to line up $1.7 billion in six-year senior secured term loan facilities.
Late Friday, Standard & Poor’s announced changes in its S&P MidCap 400 and S&P SmallCap 600 indexes. Effective after the close of trading on July 12, Esterline Technologies will replace Bucyrus International in the S&P MidCap 400 index, and Rubicon Technology will join the S&P MidCap 400. And at the close of trading on July 13, SonoSite will replace Kendle International in the S&P SmallCap 600 index. The acquisition of Bucyrus closed on July 8, and completion of a transaction to take Kendle private is expected soon, S&P said.
Weis Markets said Sunday that despite food inflation, it’s lowered prices on 1,600 store-brand and brand-name items and that they will be held at these levels through Oct. 8.
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