Baker Hughes, Halliburton call off deal; GNC considering sale; JCPenney gains on bullish call

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Baker Hughes (BHI), Halliburton (HAL) – The two energy giants have called off their merger, once valued at nearly $35 billion. The decision came after a very long regulatory review process that ended in a lawsuit last month by the Justice Department to block the agreement. Baker Hughes also announced that it will use its $3.5B breakup fee from Halliburton to buy back stock and debt.

Sony (SNE) – The company has submitted a patent application for intelligent contact lenses. Sony contacts will include a camera and a storage unit.

GNC (GNC) – The company revealed that it is considering a sale as part of a review of its strategic alternatives. GNC says its board is working with Goldman Sachs as a financial advisor.

Oracle (ORCL) – The company is acquiring cloud services provider Opower (OPWR) in a deal valued at $532 million. The agreement is expected to close this year. This deal comes after Oracle acquired construction contracts and payment management cloud service company Textura for $663 million last week.

JCPenney (JCP)- A bullish call on JCPenney is boosting the stock. An article in Barron’s over the weekend noted that the retailer's stock price could double over the next three years. The report said that the company had made substantial progress over the past year.