Main market news here.Lexmark International Inc. (NYSE: LXK) lowered its outlook for the second quarter, saying consumer inkjet supply sales will hurt results in the second quarter. Analysts had been expecting Lexmark to earn 86 cents per share on revenue of $1.21 billion according to Thomson. The company now expects to earn 62 cents to 67 cents per share excluding restructuring-related benefits on revenues of about $1.2 billion. LXK shares down nearly 12.6% in pre-market trading (8:16 a.m.).
Ford Motor Co. (NYSE: F) and power utility Southern California Edison will team up to test rechargeable hybrid vehicles. This unusual cooperation should be announced today as the companies test the plug-in hybrid vehicle technology.
Following Sony Corp.'s (NYSE: SNE) announcement that it would slash the prices of the PlayStation 3 gaming console by $100 in Japan, Microsoft Corp. (NASDAQ: MSFT) said it has no plans to cut the Japanese prices of its Xbox 360.
As the lineups for the Apple Inc.'s (NASDAQ: AAPL) iPhone wind down and those who didn't buy one can actually play with one for half an hour at an Apple store and appreciate how slick and sexy it is, the rest of the world prepares for it. The Guardian wrote on Friday that European mobile phone companies aren't all that happy with Apple's demands to "hand over a a significant proportion of revenues generated by the iPhone and restrict the content that users can access."
Google Inc. (NASDAQ: GOOG) announced it agreed to buy Postini, a electronic communications (e-mail, instant messaging etc.) security software provider, for $625 million in cash.
More problems with the Airbus caused the parent, EADS, to agree to streamline its management structure (management shakeup in short). Airbus is facing stiff competition from Boeing's (NYSE: BA) new 787 Dreamliner, while its own A380 superjumbo jet is facing production and other problems. In addition, there's an escalating dispute between Airbus and its jet-engine supplier General Electric Co. (NYSE: GE). BA shares are up 2.6% in pre-market trading (8:14 a.m.) after the company unveiled a fully assembled 787 jet yesterday.
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