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Before the bell: INTC, FNM, IBM, YHOO, GOOG, PFE ...

Before the bell: Futures somewhat higher (TTWO, CAT, AAPL)
Futures have turned negative and Tuesday's rally may not carry over to today.

Intel Corp. (NASDAQ: INTC) executives and lawyers appeared before European Commission officials Tuesday, trying to defend against antitrust action by regulators as the chip maker is suspected of of anticompetitive practices.

The Wall Street Journal reports that Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE) may have to issue in excess of $10 billion of new stock this year, significantly diluting existing shareholders.

IBM (NYSE: IBM) said Wednesday it had acquired Encentuate Inc., a provider of identity and access management software focused on enterprise single sign-on and integration of strong authentication technology. Financial terms were not disclosed.

The New York Times reported Tuesday that Yahoo (NASDAQ: YHOO) intends to join OpenSocial, a Google (NASDAQ: GOOG)-led alliance that is developing a common set of standards for developers of programs for social networks and other Web sites.

Pfizer Inc. (NYSE: PFE) Senior Vice President and General Counsel Allen Waxman is resigning for personal reasons, the company said Tuesday.

El Al Israel Airlines said on Wednesday it is in talks with Boeing Co. (NYSE: BA) to buy four new 777-200 planes, for delivery starting in 2012 with an option to convert the purchase to 777-300 jets.

According to Engadget, Apple (NASDAQ: AAPL) iPhone's latest firmware has already been unlocked even before it was released. Apparently, the iPhone Dev Team got a hold of the new firmware and has already decrypted it.

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Symbol Lookup
IndexesChangePrice
DJIA+73.0311,288.54
NASDAQ-6.082,245.38
S&P 500+1.381,262.90

Last updated: July 04, 2008: 11:40 PM

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