Before the bell: VG, VZ, ORCL, BEAS, M

Posted Oct 26th 2007 8:17AM by Barry Summerlin
Filed under: Before the Bell, Market Matters, Verizon Communications (VZ), Oracle Corp (ORCL), Vonage Holdings (VG)

Main market news here: Microsoft's upbeat earnings should boost techs

Vonage Holdings (NYSE: VG) shares climbed in after-hours trading on news the internet phone company has agreed to settle its lawsuit with Verizon Communications (NYSE: VZ). Vonage will pay as much as $120 million to end the patents-infringement case.

In its pursuit of BEA Systems (NASDAQ: BEAS), Oracle Corp. (NASDAQ: ORCL) has rejected as "impossibly high" a $21-per-share counteroffer from BEA's board of directors. Oracle is firmly standing by its original $17 bid, saying the offer will expire Sunday evening.

The Wall Street Journal is reporting that Macy's (NYSE: M) will be the exclusive department store retailer of Tommy Hilfiger sportswear beginning next fall. Tommy Hilfiger is held by Apax Partners.

Tags: BEA Systems, BEAS, BeaSystems, before the bell, BeforeTheBell, M, Macy's, Oracle, ORCL, Verizon, VG, Vonage, VZ