Yahoo! Inc. (NASDAQ: YHOO) and Microsoft Corp. (NASDAQ: MSFT) -- over the weekend there have been conflicting reports regarding the two. There were reports that Microsoft is going to offer $20 billion for Yahoo's search business, but then other sources said these are completely unfounded. Meanwhile, SAI posted that Sue Decker is the front runner for the CEO job at the portal company. YHOO and MSFT shares were down about 3.5% by 11:30 am.
General Motors Corp's (NYSE: GM) board met Sunday to review a restructuring plan intended to win support for up to $12 billion in emergency funding from the U.S. government, according to different reports. GM's plan includes cuts to executive pay andcould indicate that the company will ask some bond holders to accept equity and a limited cash payout to redeem the debt they hold and focus on fuel-saving technology. GM shares were down about 9% at 9 am.
[Update 8:50 am: Johnson & Johnson (NYSE: JNJ) has agreed to buy breast-implant maker Mentor Corp. (NYSE: MNT) for $1.07 billion, or $31 per Mentor share, a 92% premium to Friday's closing price. The deal, expected to close in the first quarter of 2009, is expected to have a dilutive impact to Johnson & Johnson's 2009 earnings per share of approximately
Boeing Co. (NYSE: BA) -- Following the acquisition recently of Northwest Airlines and the integration of the fleets, Delta Air Lines Inc. (NYSE: DAL) plans to seek significant changes -- scaling back of the Dreamliner and expanding the 777-200LR -- to orders from Boeing, according to WSJ's sources. BA shares were down about 3.7%, DAL down about 4% by 11:30 am.
Ryanair Holdings PLC (NASDAQ: RYAAY) launched a new takeover bid Monday for Aer Lingus, saying it would pay euro1.40 ($1.78) a share for 70 percent of Aer Lingus Group PLC, a 25% premium over Monday's opening stock price. Shares were down about 10% by 11:30 am.
American International Group Inc. (NYSE: AIG) agreed to sell AIG Private Bank Ltd. to Aabar Investments PJSC of Abu Dhabi for 307 million Swiss francs ($254 million), the companies said on Monday. AIG shares were down about 9.5% by 11:30 am.
Apple Inc. (NASDAQ: AAPL) -- according to 148Apps, the iPhone now has 10,000 apps, About 24% of apps are free; 35% cost 99 cents. About 34% are games or entertainment. AAPL shares were down about 3.5% by 11:30 am.
Wal-Mart Stores Inc. (NYSE: WMT) -- the start of the shopping season at the world's largest retailer Friday was marred by an employee death who got trampled by the crowd. No doubt WMT and other retailers including TGT, SHLD, BBY, KSS, JCP, M and others will be in focus today following Black Friday. Other than WMT, whose shares were down only 3.5% by 11:30 am, the others were down much more TGT -8.3%, SHLD and BBY -6.8%, KSS -7.3%, JCP -9.8% and M -11.7%.
Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
Deere up on Q4 earnings performance
Reid Hoffman: LinkedIn will go public (at some point)
Reader Comments (Page 1 of 1)
12-01-2008 @ 11:48AM
gerald said...
AIG "BAD FAITH INSURER" don't buy crap from this low down dirty,lying piece of sh"t of an insurer. Sell all your stock before it's to late. They owe tens of millions in unpaid claims just like my claim. I'm suing you AIG merry F'n
Xmas.