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Before the bell: AIG, Citi pressure stock futures lowerActivision (NASDAQ: ATVI) late Thursday reported a fourth-quarter profit that handily beat expectations as video games sales nearly doubled with strong demand for Guitar Hero 3 and Call of Duty 4 games. ATVI shares are up over 4.5% in premarket trading.
Bristol-Myers Squibb (NYSE: BMY) and Sanofi-Aventis (NYSE: SNY) are about to face a generic threat from Swiss drug firm, Schweizerhall Holding, that said it's going to soon launch a generic version in Germany of Plavix blood-thinning drug.
Clear Channel (NYSE: CCU) reported its profit soared to $799.7 million or $1.61 per share in the first quarter while revenues rose 4% to $1.56 billion. The results beat expectation even when taken excluding one-time items that have earnings rising 70% to $161.4 million or 32 cents a share.
Apple Canada Inc. is offering $45 credits to Canadian residents who own a new first-, second- or third-generation iPod purchased before June 24, 2004 following two class-action suit regarding the rechargeable battery in the iPod.
Coca-Cola Co (NYSE: KO) expects U.S. sales of its carbonated soft drinks to fall slightly this year but rise in 2009, according to CEO Neville Isdell. Isdell, who spoke Thursday at the Executives' Club of Chicago, also said the Coca-Cola brand was not in a continuous decline, with Coke Zero and other new products helping it to improve market share.
McDonald's Corp (NYSE: MCD) also reported same-store (restaurant) sales Thursday along with the other major retailers, saying sales rose 5% globally in April, helped by strong sales in China, Australia and Russia. While the U.S. remained relatively weak with a 2% growth, Europe sales grew by 6.3% and the Asia/Pacific, Middle East and Africa division posted growth of 7.8%.
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