Before the bell: Futures higher as oil bursts through $135It seems that the BCE (NYSE: BCE) buyout plan, has hit yet another bump on the road, only this one could not be as easy to overcome. A Quebec appeals court reversed a lower court and rejected the $33 billion buyout plan accepting the claim of a group of bondholders that the deal is unfair to them. BCE shares are plunging nearly 15% in premarket trading.
Earnings today are due from Barnes & Noble (NYSE: BKS) -- just after the company said it was interested in buying Borders (NYSE: BGP) -- and Gap (NYSE: GPS) -- a day after the clothing retailer announced an expansion in Russia.
Suntech Power Holdings Co. (NYSE: STP) shares are jumping over 7.5% in premarket trading after the solar energy company reported that first-quarter earnings more than doubled on 76% higher revenue. Earnings reached $55.8 million, or 33 cents an American depositary share and revenue reached $434.5. Analysts estimated 28 cents for the quarter.
Salesforce.com (NYSE: CRM) late Wednesday reported first-quarter net income of $9.6 million, or 8 cents a share, 13 times higher than the comparable period last year. Sales grew 53% to $247.6 million. Analysts had expected earnings of 7 cents a share on revenue of $235.8 million. CRM was upgraded by a few analysts.
Apple Inc. (NASDAQ: AAPL) was initiated with Outperform and a $235 target at Oppenheimer.
Pfizer Inc. (NYSE: PFE) anti-smoking drug Chantix received another blow Wednesday after a nonprofit group's report about serious physical side effects prompted the Federal Aviation Administration to ban the drug's use by pilots and air traffic controllers.
Staying in pharma, Merck & Co. (NYSE: MRK) has halted a study of an experimental drug, MK-0524A, which was supposed to bring new life into sagging cholesterol franchise The FDA has already refused to allow sales of the drug.
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