Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today.
Walmart (WMT) is higher in early trading after unveiling a $20 billion stock buyback program to replace its current plan. The company also echoed its positive earnings outlook for the year. Walmart says it also expects its U.S. e-commerce sales to grow by a whopping 40% in fiscal 2019.
It’s official. Honeywell (HON) has officially announced it will spin off its home and ADI global distribution business and transportation systems on Tuesday. Those branches, worth $7.5 billion, are set to become two independent, publicly-traded companies by the end of 2018. Honeywell intends to keep its aerospace division despite calls by activist shareholder Third Point to spin it off.
Pfizer (PFE) shares got boost in early trading. The biopharma company is exploring a potential sale or spinoff of its consumer health care business. CEO Ian Read says that while there is a strong connection between the consumer division and Pfizer’s core business, the potential for it to grow by itself is huge. Pfizer’s stock has climbed over 10% this year.
American International Group (AIG) shares fell early Tuesday. The insurance company estimates Hurricanes Harvey, Irma and Maria could wind up costing it $3 billion. AIG also estimates an additional $150 million in damages from Mexico’s earthquakes. The company’s CEO says it has been able to react quickly and provide the necessary funds for its clients.