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Before the bell: Futures edge lower, awaiting jobs dataGun maker Smith & Wesson (NASDAQ: SWHC) shares are down nearly 37% in premarket trading after the company lowered its full-year profit outlook on Thursday due to higher promotional spending and a plant shutdown.
Jim Goldman of CNBC reports that his sources in Apple (NASDAQ: AAPL) Asia operations said "Apple will be making headlines in the next few weeks and months with some of its hottest products: the iPod Touch, the iPhone and a new ultra-portable laptop." Specifically, he reports that Production of iPod Touch has increased, the iPhone 3G version may be in store by May-June and then there is the unveiling of a new, ultra portable laptop computer at the company's Macworld event next month in San Francisco. To this, I know more than a few colleagues who would react by saying, last chance to buy Apple below $200. Maybe.
Notable calls:
- Banc of America Securities downgraded Target (NYSE: TGT) to Neutral from Buy due to the macro environment.
- Merrill Lynch downgraded the ratings on American Express (NYSE: AXP) and Capital One (NYSE: COF) to Sell from Neutral, citing increasing consumer credit concerns. Morgan Stanley also cut its rating on Capital One to Underweight from Overweight, with a similar concern about the growing problems in the U.S. consumer finance industry.
Billionaire Carlos Slim is looking to shed more of his CompUSA unit, The Wall Street Journal reported. Apparently, he has approached Circuit City Stores (NYSE: CC) and Micro Electronics and Systemax (NYSE: SYX).
Boeing Co. (NYSE: BA) plans to replace its popular 737 aircraft by 2012 at the latest, a spokeswoman told The Associated Press.
In the next few weeks and months, several United States airlines will test Internet service on their planes. JetBlue Airways (NASDAQ: JBLU) has already announced yesterday it will begin offering Tuesday free e-mail and instant messaging service on one of its planes. Other airlines plan to offer broader Web access in coming months.
Motorola Inc. (NYSE: MOT) yesterday reaffirmed its fourth quarter guidance.
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
