Hot Stocks
19:50 EDT Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Chesapeake (CHK) announced that the company has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas to facilitate a comprehensive balance sheet restructuring. Chesapeake intends to use the proceedings to strengthen its balance sheet and restructure its legacy contractual obligations to achieve a more sustainable capital structure. Chesapeake will operate in the ordinary course during the Chapter 11 process. 2. Starbucks (SBUX) told CNBC in a statement that it will pause advertising on "all social media platforms" and have discussions internally and with media partners and civil rights organizations to stop the spread of hate speech. The company will continue to post on social media without paid promotion, it said. Starbucks added, "We believe in bringing communities together, both in person and online, and we stand against hate speech. We believe more must be done to create welcoming and inclusive online communities, and we believe both business leaders and policy makers need to come together to affect real change." Publicly traded social media companies include Facebook (FB), Twitter (TWTR) and Snap (SNAP). 3. Dell Technologies (DELL) shares have looked tempting ever since they came public in 2018, and the reason is Dell's 81% stake in the cloud-software company VMware (VMW), which is worth more than Dell itself, Andrew Bary wrote in this week's edition of Barron's. Dell stock has appreciated little since it went public because of concerns about the future of the company's hardware business and uncertainty about whether investors would get their hands on those shares of VMware, the author noted. But now the chances of a VMware distribution to holders of Dell have now apparently increases, with the company considering a spinoff of its VMware stake, The Wall Street Journal reported. If Dell wants to escape its valuation purgatory, it needs to spin off VMware and maintain a close relationship with the company through a partnership agreement, Bary contended. Another bonus would be if Michael Dell agrees to turn his supervoting stock in Dell into regular stock, he added. 4. Boeing (BA) has received Federal Aviation Administration approval to start test flights of its 737 Max to demonstrate that it can fly safely with new flight control software, The New York Times' Niraj Chokshi and David Gelles reported. The flights could begin as soon as Monday and will probably take place in the Seattle area, the authors noted. If the flights are successful, it could still be months before the planes are deemed ready to fly again, the publication added. 5. V.F. Corp. (VFC), Keysight Technologies (KEYS), Nvidia (NVDA), UniFirst (UNF), Salesforce (CRM), Texas Instruments (TXN), Best Buy (BBY), HP (HPQ), Tiffany (TIF), and Air Products and Chemicals (APD) saw positive mentions in this week's edition of Barron's.
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