Today’s news from CNBC’s Morning Squawk:
Stocks To Watch
Twitter (TWTR) is among the stocks to watch today, following a downgrade by widely followed RBC tech analyst Mark Mahaney. Twitter was downgraded to “underperform” from “market perform,” with Mahaney predicting a 25 percent drop in the stock because of weak ad revenue.
Valvoline (VVV) will debut today on the New York Stock Exchange after the automotive maintenance company saw its IPO price at $22 per share, within the expected range of $20 to $23 and raising about $660 million. Valvoline was spun off from chemical maker Ashland (ASH).
Bats Global Markets (BATS) is in talks to be bought by exchange operator CBOE Holdings (CBOE), according to a Bloomberg report. It’s possible a deal could be announced within weeks, although the report also said the talks could fall apart.
Houghton Mifflin Harcourt (HMHC) Chief Executive Linda Zecher has resigned after five years. The publishing company said it has begun a search for her replacement, with board member Gordon Crovitz serving as interim CEO.
Vanda Pharmaceuticals (VNDA) is considering strategic alternatives, according to Reuters, including a potential sale. Vanda specializes in treatments for central nervous system disorders.