Filed under: Before the bell, Earnings reports, Deals, Microsoft (MSFT), Yahoo! (YHOO), Apple Inc (AAPL), Dell (DELL), Pfizer (PFE), JPMorgan Chase (JPM), US Airways Group (LCC), UAL Corp (UAUA), Bear Stearns Cos (BSC)
Before the bell: Futures mixed ahead of GDP; after COST, SHLD reporting
Bear Stearns (NYSE: BSC) shareholders are due to approve the buyout by JPMorgan Chase (NYSE: JPM) this day, marking what many feel as an end of an era as the 85-year-old company collapsed due to the subprime mortgage crisis.
The chief executives of UAL Corp. (NASDAQ: UAUA) United Airlines and US Airways (NYSE: LCC) are set to meet this day to discuss a possible deal despite concerns that threaten the deal, according to two people briefed on the discussions, the AP reported. Stocks of both airlines are up over 2% in premarket trading.
In other deal news, Yahoo (NASDAQ: YHOO) CEO Jerry Yang said that Yahoo isn’t a company under siege and that he is still waiting for a clearer proposal from Microsoft Corp. (NASDAQ: MSFT) about a possible partnership between the two firms. He said stated that Yahoo “did not walk away from the proposal - Microsoft did. We were willing to do the deal on the right terms.”
After the bell Thursday, personal maker Dell (NASDAQ: DELL) is due to report results, with analysts forecasting a narrow decline in earnings.
TiVo (NASDAQ: TIVO) shares aren’t moving much despite the digital video recorder reporting Wednesday after the close that its net income more than quadrupled in the first quarter to $3.6 million, or 4 cents per share, beating estimate of a loss of 1 cent per share. TiVo stated it expects to return to a loss in the current quarter.
Pfizer Inc. (NYSE: PFE) is trying to do some damage control following a warning from the FDA about its quit-smoking drug Chantix and its side effects which were linked to suicides, seizures, and traffic accidents. The drugmaker said it will run newspaper ads and send letters to doctors to alleviate concerns about the drug.
And yet another agreement for the iPhone. Apple Inc. (NASDAQ: AAPL) will offer its iPhone handset in Hong Kong and Macau this year to subscribers of Hutchison Telecommunications International Ltd.
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