Deja vu for stocks?; Oil slump fueling deals; 'McWhopper' could be here

It's a Yogi Berra morning on Wall Street-- like deja vu all over again. Early signals point to a big up day for stocks (^GSPC) in the session. But that's exactly what we saw yesterday, before sizeable morning gains evaporated and the Dow (^DJI) fell to its 5th straight triple digit loss.

Yahoo Finance Senior Columnist Michael Santoli says the markets don't like this kind of volatility.

"The prices have moved more dramatically than the fundamentals," he explains. "So what you're seeing is essentially traders reacting to price action itself. It's treacherous action, it's ugly, it's not what you wanted to see yesterday. When you get a rally that doesn't hold, people get unnerved."

Get the Latest Market Data and News with the Yahoo Finance App

Big deal in the oil patch

Now here are some of the stocks the Yahoo Finance team will be watching for you today.

Cameron International (CAM) The oil well services and equipment company is being bought by larger rival Schlumberger (SLB) for $14.8 billion dollars in cash and stock. That prices Cameron's shares at more than $66...they closed at $42.47 yesterday.

Transocean (RIG) The world's biggest offshore oil rig owner is asking shareholders to vote to cancel the company's third and fourth quarter stock dividends of 15 cents a share. Transocean points to deterioration of the offshore drilling market and concerns regarding the timing of the market's recovery.

Oshkosh Corporation (OSK) The maker of big trucks and military vehicles has just been given a $6.7 billlion contract from the Pentagon to produce the next generation of ground vehicles to replace the aging Humvee. Oshkosh will make 17,000 of what are known as Joint Light Tactical Vehicles for the Army and Marine Corp.

Abercrombie & Fitch (ANF) The casual clothing chain surprised the street with earnings excluding certain items of 12 cents a share...analysts were looking for a 4 cent loss. Revenue also beat estimates. Abercrombie & Fitch says the results exceeded its own expectations and shows the company is on the right track.

Express (EXPR) The specialty clothes retailer topped estimates for both profit and revenue in its fiscal third quarter. Express says net sales soared 11% and comparable sales were up 7%...with online purchases rising 21%.

Farm incomes down

Turmoil in the markets and Wall Street, could now be hitting down on the farm.The USDA projects that U.S. farm income will shrink a massive 36% this year, the lowest level in 9 years, hit by a slump in commodities like dairy goods and hogs. It’s the largest drop in income for farmers since 1983.

Could there be a truce in the burger wars? Burger King (QSR), in a new ad campaign, is asking McDonald’s (MCD) to set aside its rivalry one day, in the name of peace. B.K. proposes the two make a McWhopper, a hybrid Big Mac - Whopper sandwich, that it will sell at a pop up restaurant in Atlanta for one day. Proceeds will go to fund awareness of International Peace Day.

More from Yahoo Finance
Crouching Tiger, Hidden Dragon: Time Warner’s sneaky China play
Murdoch begins ‘draft Bloomberg’ movement as market uncertainty rises
Why you'll be paying a 'Netflix tax' soon
Bulls back in charge; Intervention the 'new normal'; Hollywood's China love story