Before the bell 8-10-07: Sears Holdings (SHLD), Novel (NOVL), Citigroup (C)

Posted Aug 13th 2007 9:20AM by Jonathan Berr
Filed under: Earnings Reports, Law, International Business Machines (IBM), Citigroup Inc. (C), Sears Holdings (SHLD), Mattel, Inc (MAT), Novell Inc (NOVL), Economic Data

Main market news: Before the bell: Watching the Fed, investors prop up Goldman Sachs fund

Sears Holdings Corp. (NASDAQ: SHLD) -- The retailer lowered its second quarter earnings forecast and said same stores sales declined. It also announced a new share buyback.

Novell Inc. (NASDAQ: NOVL) -- A federal judge ruled Friday that Novell, not SCO Group Inc. (NASDAQ: SCOX) was the rightful owner of the UNIX operating system. SCO, which has also sued International Business Machines Corp. (NYSE: IBM), had claimed it owned Unix and was entitled to royalties from the popular free Linux operating system.

Mattel Inc. (NYSE: MAT) -- The head of a Chinese toymaker at the center of huge recall involving Mattel's Fisher-Price unit committed suicide, according to state-run media.

Citigroup Inc. (NYSE: C) -- Citigroup lost $700 million in credit business in recent weeks, according to the Financial Times.

Tags: c, chinese toy recall, ChineseToyRecall, ibm, inthenews, linux, mat, novl, sco group inc, ScoGroupInc, shld, tainted toys, TaintedToys