Morning Roundup: Today's Top Stories
At The Motley Fool, we know our readers like to be informed. Here's a quick look at today's most relevant financial news, boiled down to what you need to know.
Netflix issues debt offering
Subscription-based DVD and digital-streaming service Netflix (NAS: NFLX) plans to raise $400 million in an effort to offset the rising costs of purchasing rights to video content. The company has agreed to sell $200 million in debt to Technology Crossover Ventures, and $200 million in stock to T. Rowe Price, in a deal managed by Morgan Stanley (NYS: MS) and JPMorgan (NYS: JPM) . Netflix shares opened down sharply on the news. Read the full story at Bloomberg.
Pfizer buys skin-treatment company
Pharmaceutical giant Pfizer (NYS: PFE) plans to purchase Excaliard, a biopharmaceutical company that together with Isis Pharmaceuticals (NAS: ISIS) created a drug to treat skin fibrosis. The drug, EXC 001, will help Pfizer with product development on new treatments for fibrosis and tissue remodeling. Read the full story at Reuters.
B of A could face penalties by regulators
Bank of America (NYS: BAC) is being pressured by regulators to strengthen the bank. If it doesn't, B of A could face a public enforcement action, which could mean greater restrictions for the company. Read the full story at Yahoo! Finance.
Campbell Soup reports upbeat earnings
Soup maker Campbell Soup (NYS: CPB) posted first-quarter profits that beat analyst estimates despite coming in below year-ago levels. Lower advertising expenses helped the company pull in net profits of $265 million, down from $279 million the year prior. Read the full story at Reuters.
That's a wrap
So there you have it -- the top financial stories for this morning. If you are interested in getting all the news and commentary on these stocks, sign up to My Watchlist here --it's free!
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- Add Bank of America to My Watchlist.
At the time this article was published Fool contributor Tamara Rutter does not own shares of any companies mentioned in this column. Connect with her on Twitter @TamaraRutter. The Motley Fool owns shares of JPMorgan Chase and Bank of America. Motley Fool newsletter services have recommended buying shares of Pfizer and Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.