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Spectranetics, Philips, General Mills and other stocks to watch Wednesday

We are covering all the movers and shakers on Wednesday
Spectranetics, Philips,  General Mills and other stocks to watch Wednesday
What's hot and what's not in pre-market trade in New York?

General Mills Inc (NYSE:GIS) shares nudged 0.86% higher in pre-market deals and then later was lifted 1.99% as the food group unveiled a better than expected quarterly profit.

The firm posted net income of $408.9mln, or 69 cents a share in the three months to May 28, up from $379.6 million, or 62 cents a share, a year earlier, as it reportedly cut back on promotions and kept a lid on costs.

Elsewhere, Spectranetics Corp (NYSE: SPNC) surged over 26%  to $38.42 as Philips NV (ADR) announced plans to acquire Spectranetics for $38.50 per share.


Invivo Therapeutics Holdings Corp (NASDAQ: NVIV) was also higher as it reported positive motor recovery assessments in two patients in the INSPIRE Study of the Neuro-Spinal Scaffold. Shares added 1.03% to $2.78 a share.

Search giant Google (NASDAQ:GOOGL) saw shares creep 0.18% higher in early deals and then was up 0.85% later in the session as  further news emerged on its whopping $2.7bn regulatory fine from the EU authorities yesterday.

The search giant could miss out on billions in ad revenues every year from its shopping service, according to US investment bank Raymond James.

Meanwhile, Costa Coffee, Starbucks Corporation (NASDAQ:SBUX) and Caffe Nero have all launched reviews into their food safety procedures after lab tests found an alarming level of faecal bacteria in the ice used in their drinks.

An investigation carried out by a UK TV consumer series tested samples from iced drinks at the three coffee chains.

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