Before the bell 6-27-07: AAPL, BBBY, CAG, MCD ...

Main market news here.

Apple Inc. (NADSAQ: AAPL) has allowed several leading tech journalists to try the iPhone for the last two weeks, and yesterday we got their reviews. In general the hype seems to have been justified, but the iPhone isn't perfect. It is also not expected to be a Research in Motion Ltd. (NASDAQ: RIMM) BlackBerry killer, despite its sleek, slim look. Reviews from the Wall Street Journal, the New Your Times, Newsweek and USA Today.

Bed, Bath & Beyond Inc. (NASDAQ: BBBY) reports earnings for the fiscal first quarter today after warning on June 4, that its earnings could fall below analyst expectations. The company expects a profit between 36 cents and 38 cents per share. Analysts polled by Thomson Financial expect a profit of 37 cents on revenue of $1.54 billion.

ConAgra Foods Inc. (NYSE: CAG) said that its fiscal fourth-quarter net income more than tripled to $192 million, or 39 cents a share. Sales rose 13% to $3.33 billion. Analysts polled by Thomson Financial expected eanrings of 31 cents a share on revenue of $2.83 billion.

McDonald's Corp. (NYSE: MCD), the fast food chain, is experimenting in Europe with sit-down style eating experience, which proves to be growing sales.Reuters even tells of a German restaurant that "has a fireplace, leather sofas, wooden floors, vases with plastic flowers and a McCafe, where it serves pastry, tiramisu and cappuccino on china."

According to a survey quoted by Reuters, "Global mobile phone use will pass the 3 billion mark -- equivalent to half the world's population -- for the first time in 2007 as cell phone demand booms in China, India and Africa." To help continue the growth trend, low-cost phones from Nokia Corp. (NYSE: NOK) and Motorola Inc. (NYSE: MOT) will will continue to be pushed at the same time as phone charges are cut.

Microsoft Corp. (NASDAQ: MSFT) is trying to beef up its internet offering and yesterday introduced two new online services to its Windows Live line-up, Windows Live Folders and Windows Live Photo Gallery.

According to the Business Standard newspaper that cited an official, Starbucks Corp. (NASDAQ: SBUX) is trying to enter India again after its earlier proposal for a franchise operation was put on hold. India would prefer Starbucks to enter through a foreign direct investment route as its franchise plan did not conform to foreign investment norms.