Time Warner Cable (NYSE: TWC) and Viacom (NYSE: VIA.b) have agreed to settle a dispute over carriage fees. This comes after Viacom threatened TWC with a blackout of its 19 ceable channels, including MTV, Nickelodeon and Comedy Central. With a deal in the works, TWC customers will suffer no blackout. TWC is expected to agree to pay a modest increase in fees to Viacom in the new deal.
Microsoft Corp. (NASDAQ: MSFT) has been the subject of much news, talk and rumors the past few days. First, on Wednesday, many of its Zune digital music player froze due to the leap year. Then, China sentenced 11 for software piracy. The allegedly sold at least $2 billion worth of bogus Microsoft software. And to top all that, the blogosphere was abuzz as rumors swirled that Microsoft was going to lay off 15,000 or 17% of its staff on January 15, 2009. With the current slowdown in the economy, it's not a stretch to accept Microsoft would initiate some jobs cuts; the question is at what magnitude. MSFT shares were flattish in recent premarket trade despite all the news.
General Motors Corp. (NYSE: GM) and Chrysler LLC, which were recently bailed out by the government in the form of $13.4 billion in loans, are expected to lead sales decline for December when the numbers are released. Analysts expect a 48% sales drop at Chrsyler, 41% at GM and 33% at Ford Motor Co. (NYSE: F). Also, GMAC said Friday that it agreed to amend its financing-services agreement with GM. GM shares climbed 7.8% in premarket trade.
Wells Fargo (NYSE: WFC) completed its $12.7 billion acquisition of Wachovia Corp., creating a financial-services giant with $1.4 trillion of assets. Bank of America (NYSE: BAC) said Thursday it has completed its $19.4 billion all-stock purchase of Merrill Lynch. WFC shares declined 2.75% in premarket, BAC's declined nearly 2%.
Apple Inc. (NASDAQ: AAPL) -- efforts to find way to unlock the iPhone 3G are mounting and already one site has published instructions that some say may not work that well. Also, Argus lowered its target price on AAPL from $155 to $145. Meanwhile, Nokia (NYSE: NOK) is preparing to roll-out mobile phones using touchscreen technology to better compete with the iPhone.
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