Before the bell: Futures mixed ahead of GDP; after COST, SHLD reporting
The chief executives of UAL Corp. (NASDAQ: UAUA) United Airlines and US Airways (NYSE: LCC) are set to meet today to discuss a possible deal despite concerns that threaten the deal, according to two people briefed on the discussions, the AP reported. Stocks of both airlines are up over 2% in premarket trading.
In other deal news, Yahoo (NASDAQ: YHOO) CEO Jerry Yang said that Yahoo is not a company under siege and that he is still waiting for a clearer proposal from Microsoft Corp. (NASDAQ: MSFT) about a possible partnership between the two firms. He said said that Yahoo "did not walk away from the proposal - Microsoft did. We were willing to do the deal on the right terms."
TiVo (NASDAQ: TIVO) shares aren't moving much despite the digital video recorder reporting Wednesday after the close that its net income more than quadrupled in the first quarter to $3.6 million, or 4 cents per share, beating estimate of a loss of 1 cent per share. TiVo said it expects to return to a loss in the current quarter.
Pfizer Inc. (NYSE: PFE) is trying to do some damage control following a warning from the FDA about its quit-smoking drug Chantix and its side effects which were linked to suicides, seizures, and traffic accidents. The drugmaker said it will run newspaper ads and send letters to doctors to alleviate concerns about the drug.
And yet another agreement for the iPhone. Apple Inc. (NASDAQ: AAPL) will offer its iPhone handset in Hong Kong and Macau this year to subscribers of Hutchison Telecommunications International Ltd.
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Before the bell: Futures sharply lower on Dubai's debt problems
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