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McDonald’s is rising in pre-market trading after it reported that its global comparable store sales rose 4.8% in February, with Asia/Pacific, Middle East and Africa showing comparable store sales growth of 10.5%.
Boeing may also gain ground after it announced that Turkish Airlines has finalized an order for 20 Next-generation 737 airplanes. The order is valued at $1.6 billion at current list prices.
RF Micro Devices is likely to see some activity after it said it expects to generate fourth quarter revenues of $240 million to $245 million. Based on the revised revenue expectation, the company expects non-GAAP earnings per share of 11-12 cents. Analysts estimate earnings of 10 cents per share on revenues of $231.79 million.
AIG and MetLife could be in focus after the companies announced that AIG would sell its American Life Insurance Co. to MetLife for about $15.5 billion, including $6.8 billion in cash and the remainder in equity securities of MetLife.
Hewlett-Packard may move in reaction to its announcement that it has downwardly revised its previously announced financial results for its first quarter due to developments in litigation involving Electronic Data Systems, which it acquired in August 2008. The company said its net earnings stand reduced by $73 million or 3 cents per share, while non-GAAP earnings have been revised to $1.07 per share from $1.10 per share estimated earlier.
Cablevision could be in focus after it announced the immediate return of WABC Channel 7 to its 3 million New York area homes. ABC Disney went off Cablevision at midnight on Saturday, as the two parties continued negotiating on a new agreement. Subsequently, Cablevision said it would agree to government calls for binding arbitration with ABC Disney.
Essex Property Trust is likely to see some activity after it announced that it has entered into a venture to acquire an interest in Essex Skyline at MacArthur Place, a high-rise condominium project in Santa Ana, California for $128 million. The company said the purchase was made in a joint venture, with each owner holding about 50% interest in the property and its operations.
YRC Worldwide could come under selling pressure after it announced that the Nasdaq stock market has notified on March 3, 2010 that the company is not in compliance with Nasdaq Marketplace Rule 5450(a) (1) related to stock price. The company closed at a share bid price of less than $1 for 30 consecutive business days. The company now has 180 calendar days to regain compliance. The company expects to effect a reverse stock split, which has already been approved by the board, during the second quarter of the year.
Northrop Grumman is likely to react to its announcement that the U.S. Navy has selected the company for the development phase of its Navy’s Consolidated Afloat Networks and Enterprise Services program or CANES. The indefinite-delivery/indefinite-quantity contract, one of the two CANES contract, has been awarded to a team led by Northrop Grumman and has been valued at $17.4 million. If all options are exercised, the contract will include system production through September 2014 and will be valued at $775 million.
RockTenn may be in focus after it announced an increase in the price of its recycled paperboard products by $45 per ton. The company noted that the price increase is effective with shipments on April 6.
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