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Before the bell: Futures lower ahead of CPI; Citi, Novell in focusJetBlue Airways Group (NASDAQ: JBLU) announced Thursday that Deutsche Lufthansa had agreed to take a 19% equity stake. JBLU shares closed up 14.4% to $7.15. Lufthansa will buy , 42 million newly issued common shares of JetBlue in a private placement for $7.27 a share -- a 16% premium over Wednesday's close, or a total of about $300 million. This cash infusion will help the low-cost carrier face the high fuel prices and new competition.
Palm Inc. (NASDAQ: PALM) laid off about 10% of its work force this week to cut expenses. Palm issued a statement Thursday confirming some layoffs were made as part of a restructuring, but according to "persons familiar with the situation," CNNMoney eliminated more than 100 jobs of its 1,150 staff.
Qwest Communications International Inc. (NYSE: Q) decided to resume its quarterly dividend for the first time since 2001 and will pay shareholders a quarterly dividend of 8 cents per share, payable Feb. 28 to shareholders of record on Feb. 1. Analysts think the move shows "that the telecommunications company is positioning itself for better long-term growth."
Fannie Mae (NYSE: FNM) is holding its first annual shareholders meeting since May 2004. No need to be a clairvoyant to know what the meeting's focus will be -- its massive losses.
A Chinese company, Guge Sci-Tech, has sued Google's China (NASDAQ: GOOG) operations over what it says is an infringement of the Chinese translation of its name, "Guge." Guge Sci-Tech wants Google change its Chinese name and pay legal costs. In response, Google said Guge Sci-Tech knew of Google's intention to use the Chinese name "Guge," and that is is not a Chinese word.
New passenger car registrations in the European Union in November fell 1.3% to 1.217 million vehicles from a year ago but were up 0.9% over the first 11 months. Total European sales were down 1.1% in November and rose 1.1% for the 11 months. As for market share, Ford (NYSE: F) made a small rise to 10.6% from 10.5%, GM (NYSE: GM) was stable at 10.2%.
According to research firm Gartner, Intel Corp. (NASDAQ: INTC) is set to increase its share of a growing global semiconductor chip market this year to 12.2%. The market is expected to grow 2.9% from last year to $270.3 billion.
It seems that Apple Inc. (NASDAQ: AAPL) has spooked up mobile makers with its recent launch of the iPhone in Europe. Nokia (NYSE: NOK) is planning a free service and rival Sony Ericsson (NASDAQ: ERIC) is planning a new music-downloading service that will launch next spring. These services are also in direct competition with mobile operator mobile-music business. Interesting times for the consumer to be sure.
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