It seems that $20 billion deal to merge Delta Air Lines Inc. (NYSE: DAL) and Northwest Airlines Corp. (NYSE: NWA) could be in jeopardy due to pilot negotiators over blending seniority lists. While the pilots unions have agreed on a comprehensive joint contract, they are unable to agree to how seniority for the 12,000 pilots would work under a combined carrier.

PepsiCo Inc. (NYSE: PEP) reaffirmed its 2008 earnings forecast of at least $3.72 a share, a penny below the average analyst expectation. In addition, PepsiCo said it plans to repurchase about $4.3 billion in shares during 2008.

Garmin Ltd. (NASDAQ: GRMN) shares are climbing over 8.2% in premarket trading after the telecommunication company reported that fourth-quarter earnings jumped 70% to $307.3 million, or $1.39 a share, boosted by higher automotive/mobile unit revenue as the company experienced strong holiday demand for the its digital navigation devices. Excluding items, earnings were $1.31 a share for the quarter, beating estimates of earnings of $1.11 a share for the quarter. Analysts' estimates usually exclude items. Sales doubled, climbing to $1.22 billion from $611.2 million a year ago. The company expects 2008 overall revenue to exceed $4.5 billion and earnings to exceed $4.40 a share.

Intel Corp. (NASDAQ: INTC) received a subpoena from the Attorney General of the State of New York requesting documents and information to assist in its investigation over concerns of a monopoly in the sale of microprocessors.
TheStreet.com has downgraded Intel to Hold.

Crocs Inc. (NASDAQ: CROX) are plummeting nearly 12% in premarket trading after the shoemaker reported fourth quarter earnings Tuesday after the close. Profit jumped 84% to $38.3 million, or 45 cents per share, as revenue nearly doubled to $224.8 million on a surge in international demand. Crocs, however, guided 2008 below analyst expectations. Analysts polled by Thomson Financial expected profit of 44 cents per share on $207.7 million in revenue.

Whole Foods Market Inc. (NASDAQ: WFMI) profits fell 27% to $39.1 million in the most recent quarter as the cost of its acquisition of Wild Oats dragged on earnings. Excluding the effect of the Wild Oats purchase, net income was $51 million, or 36 cents per share - in line with analysts' expectations. Sales reached $2.46 billion for the quarter, up 32% from a year ago. Same-store sales were up 7%.
Lehman Brothers downgraded Whole Foods to Underweight from Equal Weight and lowered its price target on the stock by $3 to $32, raising concerns over management and the company's ability to find ways of improving efficiency.

Apple Inc. (NASDAQ: AAPL) said Tuesday that it will launch a 2GB version of its iPod shuffle digital music player, priced at $69, later this month. Also, the 1GB iPod shuffle will now be available for $49.