Wall Street Rumors - April 10, 2008
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Toyota Expands Partnership With Subaru Maker Fuji Heavy
TOKYO — Toyota Motor Corp. (NYSE: TM) will boost its stake in Fuji Heavy Industries Ltd. to 16.5% from 8.7% as part of its expanded alliance with the maker of Subaru cars.
News Corp., AOL Pursue Yahoo Deals
Yahoo Inc. (NASDAQ: YHOO) and Time WarnerInc.’s (NYSE: TWX) AOL are closing in on a deal to combine their Internet operations, a move aimed at thwarting Microsoft Corp.’s (NasdaqGS: MSFT) effort to acquire Yahoo, people familiar with the matter said Wednesday.
Takeda to Buy Millennium For Nearly $9 Billion
TOKYO — Japan’s Takeda Pharmaceutical Co. (Other OTC: TKPHY.PK) has agreed to buy U.S. biotech Millennium Pharmaceuticals Inc. (NASDAQ: MLNM) for nearly $9 billion, the boldest effort yet by Japan’s No. 1 drug company to remain relevant in the global industry.
DuPont Raises Earnings Guidance
DuPont Co. (NYSE: DFT) raised its first-quarter and full-year earnings guidance, saying profits in the latest quarter jumped more than 20% on strength in its agriculture businesses and “rapid growth” in emerging markets.
Boeing Delays Dreamliner Delivery Again
Attempting to restore its credibility with investors and customers, Boeing Co. (NYSE: BA) on Wednesday acknowledged that its troubled 787 Dreamliner jet program is now running 15 months late, and it laid out a revised delivery schedule that drastically scaled back how many planes it hopes to deliver in the early going.
Wall Street Can’t Agree on Cisco’s Prospects
Wall Street is divided on Cisco’s (NASDAQ: CSCO) prospects. On one side of the argument are two firms that expect the communications technology company to generate a sustainable long-term growth rate of 15% for both the top and bottom lines. On the other are two analysts who see demand for Cisco’s products slipping away as economic growth slows at home and abroad.
Schering’s Buy of Organon Had to Happen
OKLAHOMA CITY — The strategy behind Schering-Plough’s (NYSE: SGP) pricey acquisition of Organon is starting to add up.
Wal-Mart, Costco Sales Gain as Bargains Lure Shoppers
April 10 (Bloomberg) — Wal-Mart Stores Inc. (NYSE: WMT) and Costco Wholesale Corp. (NASDAQ: COST) said March sales rose as consumers buffeted by job losses and declining home values sought discounts on food and electronics.
American Will Scrub 900 More Flights in 3rd Day of Inspections
April 10 (Bloomberg) — AMR Corp.’s (NYSE: AMR) American Airlines will scrub 900 more flights today, adding to 1,550 already canceled this week, as it continues another round of inspections and groundings that stranded 171,000 passengers.
DSG warns on profit for second time this year
Shares in the U.K.’s DSG International (UK:DSGI) slumped as much as 12% Thursday after shrinking margins prompted the consumer electronics retailer to issue its second profit warning of the year.
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