PetSmart jumps on buyout; Bob Evans CEO steps down; Apple e-book appeal
The biggest private-equity deal so far this year tops our list of stocks to watch this morning.
PetSmart (PETM) shares jumped in early trading after the pet supplies retailer said it's being bought by an investor group led by BC Partners for more than $8 billion, or $83 dollars a share in cash.
News of a potential deal in the energy sector. Shares of Talisman Energy (TLM) were higher ahead of the bell after soaring 16% on Friday following a report in the Financial Times that Spanish-based Repsol is in talks to buy the company for up to $8 billion.
Honeywell (HON) also in the spotlight this morning. The industrial conglomerate slightly scaled back its sales outlook for this year and gave a cautious outlook for 2015 due to modest economic growth in most regions around the globe.
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Another CEO is stepping down because of his firm's poor performance. Bob Evans's (BOBE) Chief Executive Steve Davis has announced that he's resigning as the company’s board looks to revamp the restaurant-and-food company following a proxy fight. Shares of Bob Evans rose on the news in early trading.
Apple (AAPL) shares also in focus. The company today is asking a federal appeals court to overturn a $450 million e-book price fixing judgment against it. A lower court ruled Apple conspired with five big publishers to artificially inflate the price of e-books. Apple denies it broke the law, calling its plan a smart business move.