3 Stocks to Watch on Monday: Alphabet Inc (GOOG), Syngenta AG (ADR) (SYT) and Valeant Pharmaceuticals Intl Inc (VRX)

Advertisement

The stock markets appear to be in waiting mode as investors wait for the Federal Reserve’s speech in Jackson Hole, Wyoming, this week. What everyone wants to know: Is the U.S. ready for a hike in interest rates?

3 Stocks to Watch on Monday: Alphabet Inc (GOOG), Syngenta AG (ADR) (SYT) and Valeant Pharmaceuticals Intl Inc (VRX)This morning, though, a few companies peppering us with headlines while we’re in limbo. Alphabet Inc (NASDAQ:GOOG, NASDAQ:GOOGL) is bolstering its Chromebooks, Syngenta AG (ADR) (NYSE:SYT) is closer to changing hands, and Valeant Pharmaceuticals Intl Inc (NYSE:VRX) has some new blood in the C-suite.

Here’s what you need to know:

Syngenta AG (SYT)

SYT shares are roaring about 12% higher on Monday morning as a U.S. regulator gave China National Chemical Corp the green light to buy out the seed company.

ChemChina bid $43 billion for Syngenta back in February of this year. That offer represented the largest foreign buyout by a Chinese company, were it approved. The goal is obvious: Feed a monster population with very little viable farmland.

“Only around 10 percent of Chinese farmland is efficient,” a source told Reuters back in February. “This is more than just a company buying another. This is a government attempting to address a real problem.”

ChemChina still has to get through European Union regulatory hurdles for the deal to close. However, U.S. approval does make it appear likelier that the EU will give the buyout the nod.

Valeant Pharmaceuticals Intl Inc (VRX)

VRX stock is up about 3% in premarket trade as Valeant has tapped Zoetis Inc (NYSE:ZTS) to shore up its executive ranks.

Valeant has hired Zoetis exec Paul Herendeen to fill the role of chief financial officer. The hiring is part of VRX’s efforts to win back Wall Street after a series of stumbles. VRX shares have been decimated over the past year-plus amid controversy over the company’s spikes in drug prices, accounting issues, delayed reports and mounting debt.

Herendeen will take over Robert Rosiello, who joins the company’s public relations head and general counsel in being replaced.

Alphabet Inc (GOOG,GOOGL)

Alphabet has just announced changes to its Google Chromebooks that will make the device more multi-purpose.

The devices will now have the capability of running some software it previously couldn’t run, including Microsoft Word and Skype. The tech giant also is adding the Google Play Store to its fold, as well as more than 2.2 million Android apps.

The Google Play Store will be available on four models of the Chromebook — the Asus Flip C100, Acer Chromebook R11, Acer Chromebook C738T and Google Chromebook Pixel.

GOOG shares are finally in the black by 2% for the year-to-date amid a fairly roller-coaster year for the tech blue-chip.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

More From InvestorPlace:


Article printed from InvestorPlace Media, https://investorplace.com/2016/08/3-stocks-to-watch-on-monday-alphabet-inc-goog-syngenta-ag-adr-syt-and-valeant-pharmaceuticals-intl-inc-vrx/.

©2024 InvestorPlace Media, LLC