Filed under: Before the bell, Earnings reports, Analyst reports, Deals, Apple Inc (AAPL), Pfizer (PFE), Gap Inc (GPS), Merck and Co (MRK), Analyst initiations, salesforce.com inc (CRM), Suntech Power Hldgs ADS (STP)
Before the bell: Futures higher as oil bursts through $135
It seems that the BCE (NYSE: BCE) buyout plan, has hit yet another bump on the road, only this one couldn’t be as simple to overcome. A Quebec appeals court reversed a lower court and rejected the $33 billion buyout plan accepting the claim of a group of bondholders that the deal is unfair to them. BCE shares are plunging nearly 15% in premarket trading.
Earnings today are due from Barnes & Noble (NYSE: BKS) — just after the company stated it was interested in buying Borders (NYSE: BGP) — and Gap (NYSE: GPS) — a day after the clothing retailer announced an expansion in Russia.
Suntech Power Holdings Co. (NYSE: STP) shares are jumping over 7.5% in premarket trading after the solar energy company reported that first-quarter earnings more than doubled on 76% higher revenue. Earnings reached $55.8 million, or 33 cents an American depositary share and revenue reached $434.5. Analysts estimated 28 cents for the quarter.
Salesforce.com (NYSE: CRM) late Wednesday reported first-quarter net income of $9.6 million, or 8 cents a share, 13 times higher than the comparable period last year. Sales grew 53% to $247.6 million. Analysts had expected earnings of 7 cents a share on revenue of $235.8 million. CRM was upgraded by a few analysts.
Apple Inc. (NASDAQ: AAPL) was initiated with Outperform and a $235 target at Oppenheimer.
Pfizer Inc. (NYSE: PFE) anti-smoking drug Chantix received another blow Wednesday after a nonprofit group’s report about serious physical side effects prompted the Federal Aviation Administration to ban the drug’s use by pilots and air traffic controllers.
Staying in pharma, Merck & Co. (NYSE: MRK) has halted a study of an experimental drug, MK-0524A, which was supposed to bring new life into sagging cholesterol franchise The FDA has already refused to grant sales of the drug.
Entries (RSS)