Before the bell: C, STM, GNSS, FRE, SNE

Posted Dec 11th 2007 8:35AM by Barry Summerlin
Filed under: Before the Bell, Citigroup Inc. (C), Sony Corp ADR (SNE), Texas Instruments (TXN)

Main market news here: Before the bell: All eyes on Fed

The Financial Times reported Tuesday that Citigroup (NYSE: C) has trimmed its structured investment vehicles by more than $15 billion since October.

STMicroelectronics (NYSE: STM), rival to Texas Instruments (NYSE: TXN), announced it is buying video-chip maker Genesis Microchip (NASDAQ: GNSS) for $336 million. The deal pays $8.55 a share, a 60% premium on Genesis' closing price Monday.

Home lender Freddie Mac (NYSE: FRE), has adopted stricter limits and broader guidelines for when it will buy out delinquent loans from mortgage pools.

Speaking in Tokyo on Tuesday, Sony Corp. (NYSE: SNE) Chief Executive Officer Howard Stringer said the electronics maker plans to network its PlayStation 3 video game console and its other electronics in 2008.

Tags: before the bell, BeforeTheBell, C, Citigroup, FRE, Freddie Mac, FreddieMac, Genesis Microschip, GenesisMicroschip, GNSS, SNE, Sony Corp, SonyCorp, STM, STMicroelectronics, Texas Instruments, TexasInstruments, TXN