Filed under: Before the bell, Earnings reports, Analyst reports, Analyst upgrades and downgrades, Google (GOOG), Yahoo! (YHOO), Motorola (MOT), Tiffany and Co (TIF), Gap Inc (GPS), Valero Energy (VLO), Bear Stearns Cos (BSC)
Before the bell: Futures higher ahead of data; (F, TTM, SIRI, XMSR)
3Com (NYSE: COMS) shares were up 7% in after-hours trading Monday as the network-equipment maker, whose $2.2 billion acquisition by Bain Capital LLC was said last week to be pulled off due to the government’s security concerns, reported third- quarter sales of $336.4 million and 8 cents earnings per share (excluding one-time items), beating estimates.
Valero Energy (NYSE: VLO) shares are down over 3% in premarket trading after the refinery operator forecast significantly lower throughput margins on gasoline and other petroleum products and forecast first-quarter earnings of $0.10 to $0.35 per share below analyst estimates.
Activist investor Carl Icahn rejected an offer from Motorola Inc. (NYSE: MOT) that would have given him two board seats instead of the four Icahn had launched a proxy battle to get. Icahn, who holds 6.3% of the shares in the telecommunications-equipment maker, sued the company for access to crucial board documents. Icahn has been hpushing Motorola to divest the unprofitable handset division for months. While Icahn has been quite vocal with his criticism, Motorola’s board and management haven’t commented much.
Continue reading Before the bell: COMS, VLO, MOT, YHOO, GPS, GOOG …
Permalink | Email this | Comments
