Advanced Micro Devices (NYSE: AMD) stock is down 6.6% in premarket trading after the company posted its seventh consecutive quarterly loss of $1.19 billion, or $1.96 per share, missing Wall Street estimates. The operating loss would have been 60 cents a share, heftier than the loss of 52 cents a share from analysts polled by Reuters Estimates. Following the report, AMD also announced that CEO Hector Ruiz would be replaced by COO Dirk Meyer. Ruiz will stay on as executive chairman.
The Wall Street Journal reports that Freddie Mac (NYSE: FRE) is considering raising capital by selling as much as $10 billion in new shares to investors. FRE stock is down again this morning after the recent wild swings in share price. This morning FRE shares are trading over 5.7% lower in premarket action.
Mattel Inc. (NYSE: MAT) shares rose nearly 4% in after-hours trading following second-quarter financial results. The toy maker's profit fell by nearly half, but results still beat Wall Street expectations. Global Barbie sales dropped off 6%.
Teva Pharmaceutical Industries (NASDAQ: TEVA) ADS are declining over 4.3% in premarket trading after the generic drug maker said it will buy rival generic drug company Barr Pharmaceuticals (NYSE: BRL) for more than $7 billion. The total purchase price is $66.50 per share, a 16% premium to Barr's $57.17 closing price Thursday. BRL shares are up over 6.6% in premarket trading.
Honeywell (NYSE: HON) shares are rising nearly 5.2% in premarket trading after its second quarter earnings rose 18% to $723 million, or 96 cents per share, beating estimates of 94 cents a share, according to analysts surveyed by FactSet Research.
Meanwhile, Schlumberger (NYSE: SLB) shares are also rising nearly 2.4% in premarket trading after it said its second-quarter profit increased nearly 13% to $1.42 billion, or $1.16 a share. Analysts polled by Thomson Financial on average expected earnings per share of $1.12 cents.
Late Thursday, the AP reported that according to their sources, the deciding voice in the the Federal Communications Commission told the news service he vote in favor of the $3.1 billion merger between satellite radio companies XM (NASDAQ: XMSR) and Sirius (NASDAQ: SIRI) if the companies agree to tougher conditions.
Meanwhile, Schlumberger (NYSE: SLB) shares are also rising nearly 2.4% in premarket trading after it said its second-quarter profit increased nearly 13% to $1.42 billion, or $1.16 a share. Analysts polled by Thomson Financial on average expected earnings per share of $1.12 cents.
Late Thursday, the AP reported that according to their sources, the deciding voice in the the Federal Communications Commission told the news service he vote in favor of the $3.1 billion merger between satellite radio companies XM (NASDAQ: XMSR) and Sirius (NASDAQ: SIRI) if the companies agree to tougher conditions.
Why is gold making a new high, trading at $1,118.00 per ounce?
Chasing Value: Ten stocks for 2010 -- Part 1 
Closing Bell: A six-day rally (AIG, REGN, M, MOT, PALM, RIMM)
