Some of the stocks that may grab investor focus today are:
Shares of Allergan (NYSE: AGN), Biogen Idec Inc (NASDAQ: BIIB) and Genzyme Corp (NASDAQ: GENZ) soared on Friday. The surge in these stocks was driven by the speculation in the market regarding the possible takeover of one of these companies by Sanofi-Aventis (NYSE: SNY). AGN’s shares gained 7.21% to close at $62.29, BIIB’s shares moved up 5.76% to close at $49.42 and GENZ’s shares rose 5.90% to close at $52.80 on Friday.
Apple Inc (NASDAQ: AAPL) said that the reported trouble in the iPhone 4 signal reception was due to the manner in which the device shows the strength of wireless network. AAPL’s shares gained 1.49% to $250.61 in pre-market trading.
Standard & Poor’s agency has upgraded the ratings outlook of MetroPCS Communications Inc (NYSE: PCS [FREE Stock Trend Analysis]) from “stable” to “positive.” S&P has confirmed its corporate credit rating for PCS at B. PCS’ shares moved up 0.49% to $8.34 in after-hours trading.
The board of McDermott International Inc (NYSE: MDR) gave approval for the spin-off of Babcock & Wilcox Co through stock distribution to MDR shareholders. The distribution is likely to take place before July 30. MDR’s shares soared 3.55% to close at $21.87 on Friday.
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