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Suddenly, Amazon Doesn't Love Its Moms Anymore
Before the bell: Futures lower ahead of PPI, after HD earningsAfter announcing a deal with France's Orange last week, and as the June 9 keynote address from Steve Jobs approaches, Apple Inc. (NASDAQ: AAPL) may be finally close to a deal that would add two of Asia's hottest cellphone carriers, Japan and Korea, to its growing list of international partners. According to reports in Asian news services, Apple is planning a special joint release of the next-generation iPhone with Japan's NTT DoCoMo and Korea Telecom Freetel. That would leave China as the last big Asian market without an authorized iPhone carrier.
According to the Telegraph, Barclays (NYSE: BCS) is considering an acquisition of investment banks and looked at Lehman Brothers (NYSE: LEH) and UBS (NYSE: UBS).
The Wall Street Journal reported that Ford Motor Co. (NYSE: F) is cutting production at its Volvo unit, possibly affecting one-third of the workers, in an attempt to cut costs and losses at the upscale Swedish brand. The cut comes amid speculation that Ford is priming Volvo for a sale.
The Journal also reported that there was a breakdown in talks between General Motors (NYSE: GM) and the United Auto Workers union, which could extend a costly strike at a Kansas assembly line that makes the profitable Malibu sedan.
Earnings today also include Medtronic (NYSE: MDT) and after the close, the delayed results from Hewlett-Packard (NYSE: HPQ) as well as those from Intuit (NASDAQ: INTU).
An executive in charge of Boeing Co. (NYSE: BA)'s 787 program, said the highly anticipated 787 jetliner is on track for a June "power on" milestone, and subsequent planes are arriving at the final assembly floor in better and better shape. After three delays, that will cost Boeing billions of dollars, powering up the 787 for the first time is a major milestone.
An executive in charge of Boeing Co. (NYSE: BA)'s 787 program, said the highly anticipated 787 jetliner is on track for a June "power on" milestone, and subsequent planes are arriving at the final assembly floor in better and better shape. After three delays, that will cost Boeing billions of dollars, powering up the 787 for the first time is a major milestone.
The world's fourth-largest tobacco firm, Imperial Tobacco (NYSE: ITY) said Tuesday its profit sank 45% in the first half and it plans to raise $9.6 billion by selling shares at a discount to help pay for its recent acquisition of the Spanish tobacco business Altadis.
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