Filed under: Before the bell, Analyst reports, Analyst upgrades and downgrades, Google (GOOG), Apple Inc (AAPL), eBay (EBAY), XM Satellite Radio (XMSR), Sirius Satellite Radio (SIRI), Walt Disney (DIS), ConAgra Foods (CAG), Oracle Corp (ORCL)
More profit warnings:
- International Paper Co. (NYSE: IP) shares are down over 2.5% in premarket trading after yesterday it lowered its third-quarter land-sales earnings outlook due to lower-than-expected land sales during the quarter.
- PetSmart Inc. (NASDAQ: PETM) this morning trimmed its sales and profit forecast for the rest of the year due to weak consumer spending and warmer-than-usual weather. PetSmart now expects 17 cents to 20 cents per share for the third quarter, from a previous forecast of 21 cents to 23 cents earnings per share.
ConAgra Foods Inc. (NYSE: CAG) “voluntarily stopped production at the Missouri plant that makes its Banquet pot pies after health officials said the pies may be linked to 139 cases of salmonella in 30 states, including Wisconsin.”
Oracle (NASDAQ: ORCL) yesterday announced it has agreed to acquire LogicalApps, a provider of automated Governance, Risk and Compliance (GRC) controls management solutions.
While many schools ban and confiscate Apple Inc.’s (NASDAQ: AAPL) iPods, some found a good use for them, The New York Times Reports — to help bilingual kids with some difficulty understanding English. As for the iPhone, Piper Jaffray conducted a survey and found that 3% of teens already own an iPhone.
Walt-Disney (NYSE: DIS) company has kicked off the holiday shopping season with its 10 most wanted gifts list.
Hoping to capitalize on the social networking craze, eBay Inc. (NASDAQ: EBAY) has launched its own version of a social networking service today, Neighborhoods, and is promising other customer-friendly features by year’s end.
Google Inc. (NASDAQ: GOOG) has bought Jaiku, an activity stream and presence sharing service that works from the Web and mobile phones.
There was much news on Sirius Satellite Radio (NASDAQ: SIRI) and XM Satellite Radio (NASDAQ: XMSR) yesterday and the shares surged after a Citigroup analyst Eileen Furukawa estimated the transaction’s likelihood of closing at greater than 60%. The merger, she said, could produce up to $7 billion in cost savings. She has upped XM’s price target to $19.50 from $15. The market, however, still gives the deal only a 24% chance of passing regulatory muster. SIRI shares closed up 3.77% and XMSR shares up 6.87%.
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