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Abbott Labs, GM, MGM, Berkshire Hathaway, Intel: Stocks to Watch


Here are the companies the Yahoo Finance team is watching for you today.

A weak quarter at pharma giant Abbott Labs (ABT). The medical device and drug maker reported profit in-line with expectations, while sales came up short. They also narrowed guidance for the rest of the year. Still, Abbott Lab's CEO says the company is on track for sales growth in the 4th quarter.

General Motors (GM) and the United Auto Workers union are reportedly in the final stages of negotiations to end a 30-day strike that has cost the automaker about $2 billion dollars. A deal is likely to be announced today. The strike began on September 16, as union workers sought higher pay, more job security, and protection of health care benefits, among other issues.

MGM (MGM) is making a sale. The global casino giant is selling two of its properties on the Las Vegas strip: the Bellagio and Circus Circus. The Bellagio will be put into a joint venture controlled by Blackstone Group, that MGM will hold a 5% stake in. The company says the sale will free up cash and allow more flexibility.

Berkshire Hathaway (BRK-A) is betting big on Bank of America. The company asked the Fed for permission to raise its stake in the bank to above 10%. Berkshire currently has a 9.96% stake in the bank and promised the Fed that it would not try to force a controlling influence, according to Reuters. Berkshire has gotten permission from the Fed in the past to own as much as 25% of American Express stock.

Intel (INTC) has reached a $5 million settlement with The Labor Department. The settlement is being paid over allegations of pay discrimination against its female, African American and Hispanic employees. Included in the settlement is $3.5 million worth of back wages and interest paid out to employees.