Before the bell: Stock futures slip ahead of jobs dataCitigroup downgraded Wyeth (NYSE: WYE) to Hold from Buy. Wyeth tried to get an injunction against Teva Pharmaceutical Industries' (NASDAQ: TEVA) generic Protonix tablets but was denied. Wyeth shares are down 4.8% in premarket trading (7:16 a.m.), Teva's up 1.7%.
Banking:
- The Financial Times reports that while external investors lost more than a fifth of their money, Goldman Sachs Group Inc. (NYSE: GS) made $300 million last month from the rescue of one of the investment bank's troubled hedge funds.
- Lehman Brothers Holdings Inc. (NYSE: LEH) will cut 850 jobs due to a restructuring in its residential mortgage operations. It is also shutting its Korean operations.
- Activist investor Knight Vinke said he intends to engage HSBC (NYSE: HBC) in a "constructive dialogue" over its future direction and requested a "fundamental review."
Dell Inc (NASDAQ: DELL) had the fastest revenue growth from computer data-storage gear in the second quarter, gaining nearly 24%. Hewlett-Packard Co (NYSE: HPQ) slipped slightly, research firm IDC said on Thursday.
Ford Motor Co (NYSE: F) has offered €57 million ($78 million) for the Romanian government's majority stake in troubled carmaker Automobile Craiova SA.
PepsiCo Inc (NYSE: PEP) is launching new drinks, including the caffeinated Propel Invigorating Water and a lighter version of the Gatorade sports beverage called G2. Deliveries would begin later this year.
Microsoft Corp. (NASDAQ: MSFT) and Siemens AG will "develop in-car entertainment and navigation products that should make it easier for consumers to connect devices such mobile phones and music players."
Will Rich Ross really have a positive impact on Disney's movie operations?
Consumers sick of recession, may spend extra on holidays
Corrections, seasonality and Santa Claus
Reader Comments (Page 1 of 1)
9-07-2007 @ 2:22PM
Robin said...
Should HSBC be worried here? I just read that Vinke's Chairman used to head Republic New York, which was bought by HSBC a few years ago. See article: http://www.newsvisual.com/newsvisual/2007/09/click-here-or-p.html
I'd be curious to see if that connection had some sort of an impact, and what exactly is meant by 'constructive dialogue'