Stocks in the News: PepsiCo, Phillips-Van Heusen, Bank of America

Before you go, we thought you'd like these...
Before you go close icon
The following is a round-up of news likely to affect stock prices today:

PepsiCo (PEP) said Monday it would raise its annual dividend rate by 7% to a rate of $1.80 to $1.92 a share and repurchase up to $15 billion of its stock.

Phillips-Van Heusen (PVH) is acquiring Tommy Hilfiger from Apax Partners, the New York private-equity firm, for about $3 billion.

Bank of America (BAC) plans to seek approval to expand its operations in China, the Wall Street Journal reported.

T Rowe Price (TROW) is in advanced talks to buy a stake in China's biggest asset manager from Citic Securities, Reuters reported, citing two sources.

Deutsche Telekom AG (DT) on Monday said it will be the first on Germany's DAX-30 to introduce a quota for female managers, with a target to fill 30% of upper and middle management jobs with women by the end of 2015, up from 13% in 2008.

Apple's (AAPL) COO Timothy Cook, who took over CEO Steve Jobs's duties when he was on medical leave, received on Friday a one-time bonus of $5 million and 75,000 in restricted shares worth about $17 million for that time.

Google (GOOG) appears increasingly likely to close its Chinese-language search engine, a step that would remove one of the last major foreign players from the world's most populous and fastest-growing Internet market, the Wall Street Journal reported.

Amylin Pharmaceuticals (AMLN), Eli Lilly (LLY) and Alkermes (ALKS) -- the FDA wants to clarify the product labeling and do more risk evaluation on the new drug application for Bydureon, a once-weekly Type 2 diabetes drug.

UBS's (UBS) top management Monday said it was confident of turning around its business to achieve its medium-term profit target following a solid start to 2010. At the same time, its executive board received around 110 million Swiss francs ($104 million) in pay and bonuses for 2009 -- an almost ten-fold increase from a year earlier, despite reporting more losses.

Exxon Mobil (XOM) said that arrangements are complete for its Esso Highlands Ltd. unit to begin construction of a liquefied natural gas project in Papua New Guinea. Exxon Mobil estimates the initial investment for the project to be $15 billion.

Medtronic (MDT) -- an FDA panel recommended approval of Medtronic's electronic device implanted in the brain for the treatment of epilepsy.

BT (BT) and Walmart (WMT) were upgraded to buy from hold at Citi.
Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners