Radar Stocks: AOL Finally Pops, AT&T Cuts a Big Deal, Sony Slashes

AOL Inc. (NYSE:AOL) shares are rocketing over 35% higher after the media giant cut a deal with Microsoft (NASDAQ:MSFT) to sell more than 800 patents and related applications, along with a non-exclusive license to its remaining portfolio of patents. The deal is valued at $1.056 billion deal.

AT&T (NYSE:T) announced today that an affiliate of Cerberus Capital Management, L.P. (Cerberus) has agreed to acquire AT&T Advertising Solutions and AT&T Interactive. As part of the transaction, AT&T will receive a 47-percent equity interest in the new entity, YP Holdings LLC.

The U.S. Food and Drug Administration gave the greenlight for marketing an Eli Lilly & Co. (NYSE:LLY) test designed to help clinicians diagnose Alzheimer’s disease earlier and more accurately.

Sony (NYSE:SNE) is is getting ready to slash 10,000 jobs, or approximately 6% of its workforce, reported the Nikkei. Close to half of the cuts will occur in businesses that produce chemicals and small-and medium-sized panels.

Avon Products Inc. (NYSE:AVP) named Sherilyn McCoy CEO. McCoy was a 30-year veteran of Johnson & Johnson.