Before the bell: CBS, CNET, IACI, UAUA, INTC, PALM, MSFT
Posted by: admin in Stocks News
Filed under: Before the bell, Google (GOOG), Microsoft (MSFT), Apple Inc (AAPL), Intel (INTC), IAC/InterActiveCorp (IACI), CBS Corp ‘B’ (CBS), Research in Motion (RIMM), US Airways Group (LCC), Palm Inc (PALM), UAL Corp (UAUA)
Before the bell: Futures higher as investors await data
CBS Corp. (NYSE: CBS) announced Thursday it has signed a deal to buy CNet Networks Inc. (NASDAQ: CNET) for $11.50 a share in cash. CNet operates not only the CNET site, but also ZDNet, GameSpot.com, TV.com, mp3.com and others. The deal values CNet at about $1.8 billion and push CBS to among the 10 most popular Internet companies in the United States. CBS shares are down 2.9% in premarket trading while CNET shares are of course up over 42% to $11.31.
IAC/InterActiveCorp (NASDAQ: IACI)’s Ask.com has bought Lexico Publishing Group LLC, the parent of Dictionary.com, Thesaurus.com and Reference.com among other sites. Earlier this year, Lexico already agreed to be sold to Answers Corp (NASDAQ: ANSW), but the latter couldn’t secure the necessary funds. Now, Lexico sold itself to Ask.com, for an undisclosed amount, although the number people are throwing around is $100 million. Could this acquisition help IACI gain — even a little — on market leader Google?
United Airlines (NASDAQ: UAUA) and Continental Airlines Inc. (NYSE: CAL), dropping ideas of a merger, are now talking about forming an alliance to still gain some benefits of working together. United appears relentless in its attempts to help its bottom line through a merger or an alliance. While talking to Continental about an alliance, it is still negotiating with US Airways Group (NYSE: LCC).
The Register reports that an Intel (NASDAQ: INTC) executive claimed a future Apple Inc. (NASDAQ: AAPL) iPhone will be based upon the new Intel chip, the Atom processor. In addition, there will be many more Atom-based devices coming to the market in the year ahead, mostly a bit bigger than the iPhone. There are current problems with the Atom processor though that may not fit the iPhone, mostly power efficiency. So either the Atom will improve, the iPhone will grow, or the executive will keep on saying things…
And just what Palm Inc. (NASDAQ: PALM) shares needed when the company already seems to be fighting a losing battle in the smartphone business against such formidable rivals as Apple and Research in Motion — a downgrade. Palm was downgraded to Sell from Neutral at UBS. Could the Palm Linux-based phone, probably to launch in the first half of 2009 at the earliest, be able to combat?
Microsoft Corp. (NASDAQ: MSFT) said late Wednesday that U.S. sales of Xbox 360 video game system have topped 10 million units since its launch. Worldwide, the system has sold more than 19 million units.
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