Filed under: Before the bell, Analyst upgrades and downgrades, Microsoft (MSFT), Apple Inc (AAPL), Walt Disney (DIS), International Business Machines (IBM), Nokia Corp. (NOK), Boeing Co (BA), US Airways Group (LCC), U.S. Steel (X)
Main market news
here.
U.S. Steel Corp. (NYSE:
X) was
downgraded to Reduce from Neutral at UBS. While a bid for the group may already be priced in, UBS doesn't believe any deal is imminent. In addition, the upside on the deal may only be $2-5 per share.
Airbus announced today
several orders for its airplanes at the start of the Paris Air Show, including some for its A350 XWB, the one meant to compete with Boeing Co.'s (NYSE:
BA) 787 Dreamliner. US Airways (NYSE:
LCC) said it would order 60 single-aisle aircrafts from the A320 family, another 32 wide-body aircraft and convert an order of 20 A350 to one of 22 A350 XWB. Meanwhile, Qatar Airlines also supported the A350 XWB, ordering 80 of them in a deal
worth $16 billion.
MarketWatch is examining
two differing opinions on Apple Inc. (NASDAQ:
AAPL) stock. The first claims you should hang on to your Apple stock, the second is in favor of selling it.
Walt Disney Co.'s (NYSE:
DIS) Consumer Product Chairman Andy Mooney told
Reuters that the global retail sales of consumer products are
expected to rise 13% to a record $26 billion in fiscal 2007. What's more, according to him, the company plans to nearly double that figure within seven years.
Microsoft Corp. (NASDAQ:
MSFT) announced a joint development with a major Chinese TV set maker, Changhong, to
develop entertainment products linking television and the internet. Microsoft will become a strategic investor in Changhong, buying just under 1% of its shares for about 94 million yuan (US$12 million).
In an attempt to boost software profits to 50% of its overall profits, International Business Machines Corp. (NYSE:
IBM)
may acquire more software companies this year following two recent purchases. Right now, software accounts for 20% of revenue and 40% of pretax earnings as gross profit margins in the unit stood at 83.6% in the first quarter, much higher than the hardware unit or the global technology services unit.
Nokia Corp. (NYSE:
NOK)
unveiled three new mobile handsets today, aiming to boost its offering of mid-range phones, a weak spot, and lift its global market share further from 36%.
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