Before the bell: Futures down ahead of housing, consumer confidence dataAfter the internet and the blogosphere have been buzzing for four days about Apple Inc. (NASDAQ: AAPL) refusing to service hacked iPhones, the company has finally came out with a statement on the issue yesterday. Apple says that many of those unauthorized unlocking programs cause some software damage to iPhones and that after the next software update later this week, hacked phones may find the touch-screen completely inoperable.
Apple will now face another competitor to its iTunes store. Amazon.com Inc (NASDAQ: AMZN) finally launched an early version of its digital music download store, "Amazon MP3." The service allows users to buy music without copy protection technology to be played on any device. Most songs are priced from 89 cents to 99 cents.
Yahoo! Inc. (NASDAQ: YHOO) shares are up 1% in premarket trading. The New York Post reports that it has learned that Microsoft (NASDAQ: MSFT) may be contemplating buying either Facebook or Yahoo!
BP (NYSE: BP) shares are down over 2.5% this morning after the CEO warned staff of poor third-quarter results, using the word "dreadful."
BHP Billiton (NYSE: BHP) shares extended gains in Australia after finishing yesterday's session up 4.7%. In premarket action, however, shares are down about 1%. Shares were up on reports the company will announce what's potentially the largest gold resource in the world at its Olympic Dam mine in South Australia.
Satellite television provider EchoStar Communications Corp. (NASDAQ: DISH) said it is considering separating into two publicly traded companies: technology and infrastructure assets to be being spun off from the DISH Network U.S. consumer pay-TV business. Current shareholders would have separate ownership interests in each company. DISH shares are up 1.6% in premarket trading.
Nokia Corp. (NYSE: NOK) was upgraded at Morgan Stanley to Overweight from Underweight and its price target was doubled to €30 from €15. The broker said it expects second-half earnings to be better than expected.
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