Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
Some M&A action: United Technologies (UTX) is buying Rockwell Collins (COL) for $30 billion in cash, stock and debt, or $140 a share. The deal will help United Technologies expand its aerospace capabilities and build both jetliners and military planes. The transaction is expected to close in the third quarter of next year.
Tronc (TRNC) is in the spotlight this morning. The publisher of the Chicago Tribune and LA Times is buying The New York Daily News. The acquisition of the nearly 100-year-old New York tabloid will place Tronc in the 10th media market. According to Bloomberg, Tronc will pay $1 and assume pensions and liabilities totaling more than $100 million.
Disney (DIS) is also on investors’ radar this morning after Wells Fargo upgraded the stock to Outperform from Market Perform with a price target of $116 a share. The firm cites Disney’s increased direct-to-consumer program streaming for the upgrade.
Insmed (INSM) stock surged on Tuesday following news that the drug firm’s rare lung cancer therapy showed positive results in late stage trials. The company now plans to request a priority review and get accelerated approval by the FDA.