Before the bell: Stocks futures decline on UPS warning, financial and economic concernsAMR Corp (NYSE: AMR)'s American Airlines cancelled 500 flights on Tuesday and is expected to cancel more flights Wednesday as the FAA inspects its MD-80 planes and if the airlines complies with federal rules about wiring on about 300 of its planes. MAR shares were down 2.3% in after-hours trading.
Boeing (NYSE: BA) may announce a 14- to 18-month delay of its already-delayed 787 Dreamliner according to the The Times of London, the AP reported. Seattle Post-Intelligencer puts the delay at 14 months from the original goal of first flight by the end of June, and first delivery in early 2009. Either way, the delays are much more than the 6-9 months analysts and buyers said they expected. BA shares were down 2.4% in very early premarket trading.
Motorola (NYSE: MOT) is keeping busy. After announcing it is splitting its handset and telecom equipment arms, and after settling a proxy battle with activist investor Carl Icahn, the cell phone maker on Wednesday said former AT&T Chairman and CEO David Dorman will be the non-executive chairman. He'll succeed Ed Zander, who as planned is retiring after the shareholder meeting on May 5.
Walt Disney Co. (NYSE: DIS) CEO said Tuesday while announcing Disney's upcoming animated movies through 2012 that its Pixar animation studio will commit to 3-D by releasing all of its movies in the format beginning with Up next year.
Procter & Gamble Co. (NYSE: PG) announced Tuesday that it is increasing its quarterly dividend from 35
Yahoo Inc. (NASDAQ: YHOO)'s second-largest holder, Legg Mason, is prepared to back the search giant effort to remain independent if Microsoft Corp. (NASDAQ: MSFT) takes it offer off the table.
Yahoo! also announced Wednesday it will buy privately held marketing software company IndexTools in its effort to expand its offered services to mid-size business with analytic software that allows them to monitor Web traffic and consumer choices.
Still with Yahoo!, the web portal will begin showing homemade videos on Flickr, its online photo-sharing site, no doubt trying to capitalize of Google Inc. (NASDAQ: GOOG)'s YouTube success and perhaps lure some of the traffic to its sites. Once again, though, Yahoo! is playing catch-up to Google.
Honeywell (NYSE: HON) shares are up 1.4% in premarket trading as the industrial manufacturer won a $23 billion jet engine contract from Embraer (NYSE: ERJ). HON will supply its HTF7000 series of turbofan propulsion engines to the Brazilian company.
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