Spotlight Stocks: Delta Air, Exxon Mobil, Motorola, Yahoo
Monday's top stories and stocks with potential to move.
Stocks to watch for Monday, February 11, 2008:
- Delta Airlines (DAL) and Northwest Airlines (NWA) are close to reaching a merger agreement. The companies have divulged the details to the Air Line Pilots Associations chapters at each carrier in the hopes the merge will work smoothly will each company's pilot seniority list.
- Exxon Mobil (XOM) will begin to shift its focus to the US to find more oil, as it has started to drill about 5,000 wells in Colorado's Piceance Basin.
- Motorola (MOT) is having discussions with Nortel (NT) about combining their wireless-infrastructure units. According to the Wall Street Journal, the potential deal would create a joint venture that likely will have sales of about $10 billion, combining businesses that make network equipment for wireless phone carriers.
- Yahoo (YHOO) is attempting to reignite merger talks with Time Warner's (TWX) AOL as a means to defend itself from Microsoft's (MSFT) hostile bid. The companies had previously been in talks, but did not reach a price agreement.
- Alliance Data Systems (ADS) has dropped its lawsuit against Blackstone (BX). The suit would have forced BX to complete its planned $6.4 bln buyout of ADS. The company noted that it saw other potential solutions to this situation.
- Asian trading closed with the Hang Seng -3.64%, and Sensex -4.78%.
- A quick look towards Europe finds the CAC -0.32%, DAX -0.33%, FTSE -0.57%, ATX +0.11%, Swiss Mkt. -0.60% and Stockholm -0.85%.
- Over in commodities, crude oil is off -0.33 to 91.45 and gold is higher +6.60 to 925.0 this morning.
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