• On Sunday, Time Warner Inc (NYSE:TWX) made public its plans to buy cable operator The Carlyle Group’s Insight Communication for around $3 million. If the deal goes ahead then it will mark one of the biggest acquisitions by Time Warner in recent times
• W.W.Grainger (NYSE:GWW) said it intends to purchase shares of Fabory Group worth $344 million. Fabory Group are the leading distributors of fasteners and other MRO related products in Europe
• America’s largest bank The Bank of America Corp. (NYSE:BAC) announced its decision to sell its credit card business arm in Canada to TD Bank Group. Shares of the banking giant gained 7.93% after this development
• Share prices of Zagg Inc. (NASDAQ:ZAGG) increased 6.38% to close at $15.67 after the company which makes cell phones and accessories for Apple (NASDAQ:AAPL) increased its forecast for the fiscal 2011
• Beauty product maker Estee Lauder Co’s. (NYSE:EL) share prices dropped 6.52% after the company said its earnings figures for 2012 would come in below the Street’s expectations
• Share prices of Interpublic Group of Companies, Inc. (NYSE:IPG) gained 3.01% to close at $8.90 after the company announced it plans to sell about half of its holdings in Facebook for about $133 million
• Analysts at Rodman & Renshaw upgraded shares of Stryker (NYSE:SYK) to an “Outperform” rating from a “Market Perform” rating with a target price of $56.00
• Analysts at FBR Capital upgraded shares of TCF Financial Co. (NYSE:TCB) to a “Market Perform” rating from an “Underperform” rating, lowering the target price to $11.00 from $12.00
