Before the bell: Investors concerns resumed, stock futures lowerAfter eBay Inc. (NASDAQ: EBAY) has pulled out of Japan a few years back due to Yahoo's domination there, today it announced a partnership with Yahoo Japan Corp., owned one third by Yahoo! Inc. (NASDAQ: YHOO). The two agreed to team up in online auctions, planning services for next year that will make it easier for consumers to buy things over the Internet from the U.S. and Japan and make cross-border bids and trading.
Trump Entertainment Resorts (NASDAQ: TRMP) announced yesterday its Chief Financial Officer Dale Black has resigned, effective Dec. 14, to take a similar position with another casino and entertainment company. TRMP shares declined in late trading, continued to slide in after hours and are now trading down over 14.6% in premarket action.
Today is the expiration date on the FCC's 180-day review period for the proposed purchase of XM Satellite Radio Holdings Inc. (NASDAQ: XMSR) by Sirius Satellite Radio Inc. (NASDAQ: SIRI). Analysts thinks the purchase may not be approved by today. While some analysts are think that the FCC may yet approve the merger, the Justice Department may not act under the same time constraints. Consensus seems to be, though, that the review will slip past the 180-day period. A Cowen & Co. analyst warned shares of the two satellite radio companies may tumble if the deal is rejected, XM shares may drop between 20-30% and Sirius may decline about 20%. In premarket action SIRI shares are down 4.8% and XMSR shares down 8.4%.
Today is the expiration date on the FCC's 180-day review period for the proposed purchase of XM Satellite Radio Holdings Inc. (NASDAQ: XMSR) by Sirius Satellite Radio Inc. (NASDAQ: SIRI). Analysts thinks the purchase may not be approved by today. While some analysts are think that the FCC may yet approve the merger, the Justice Department may not act under the same time constraints. Consensus seems to be, though, that the review will slip past the 180-day period. A Cowen & Co. analyst warned shares of the two satellite radio companies may tumble if the deal is rejected, XM shares may drop between 20-30% and Sirius may decline about 20%. In premarket action SIRI shares are down 4.8% and XMSR shares down 8.4%.
John Thain made his first move at Merrill Lynch (NYSE: MER), naming Nelson Chai, who was his chief financial officer at NYSE Euronext (NYSE: NYX), to the same role at Merril.
Walt Disney Internet Group, a unit of Walt Disney Co. (NYSE: DIS), said Tuesday it bought iParenting Media to broaden its family Web site base. Financial terms of the deal were not disclosed. IParenting's site includes articles, message boards and product reviews.
Merck & Co. (NYSE: MRK) reaffirmed today its profit outlook for 2007 and forecast that higher sales of its HPV vaccine Gardasil and diabetes treatment Januvia will drive earnings growth in 2008. Profit forecast of $3.08-3.14 for 2007 and $3.28-3.38 for 2008 were slightly below analysts' estimates of $3.15 and $3.38 respectively. MRK shares were down over 1.3% in premarket trading.
Boeing Co. (NYSE: BA) confirmed today that Lion Air placed an order for 22 planes worth more than $1.7 billion during the second quarter.
Klausner Technologies Inc., the patent holding company of inventor Judah Klausner, filed patent infringement lawsuits against Apple Inc. (NASDAQ: AAPL) and AT&T Inc. (NYSE: T), alleging that the "visual voicemail" feature on the iPhone infringes on two patents it holds. Klausner is seeking an estimated $360 million total in damages and future royalties from the companies.
The AP reports that "Microsoft Corp. (NASDAQ: MSFT) is pulling back from a system that disables programs on users' computers if it suspects the software is pirated, opting instead for a gentler approach based on nagging alerts."
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