Microsoft (MSFT) is down 5% in early trading. As we told you at the top of the show, the software-maker is buying Nokia's handset and services business. Nokia has jumped, rising as much as 42%. Prior to this morning, shares of Microsoft have been up 21% year-to-date. They gained about 5% last week as investors digested the news of Ballmer's impending departure.
Jarden (JAH) has shown a burning desire for Yankee Candle, agreeing to buy the company for $1.75-billion. You may not know Jarden by name, but it owns Sunbeam, Mr. Coffee, and Crock-Pot, as well as camping-gear company Coleman and Marmot clothing. Yankee Candle is currently owned by Madison Dearborn. It acquired the chain back in 2006 for $1.6-billion, so not an outstanding profit there. As for Jarden, its stock has been up 21%nyear-to-date. The company has a market cap of nearly $5-billion.
Raytheon (RTN), the maker of the Tomahawk missile, is getting added attention. If the U.S. does in fact attack Syria, the Tomahawk is likely to be the weapon of choice used in the mission. Keep in mind, President Obama said over the weekend that he is going to Congress for a vote on any military action. Shares of Raytheon are up 29% this year. They hit an all-time high just pennies short of $88 a share about 10-days ago.
H&R Block (HRB) is one of the few companies reporting today. It releases numbers after the closing bell. The tax-preparer is expected to post losses of 37-cents a share. That's a penny better than last year on revenue that's risen almost $2-million. Alarming as the numbers may seem, keep in mind this is for H&R Block's off-season. In fact 60% of analysts rate the stock a buy. But some of the upside may already be gone. Shares have risen 48% since the start of the year.