Dell (DELL) is up 5% in early trading. The question here: will the third time be the charm for founder and CEO Michael Dell? A vote on his plan to take the company private is set for 10am. But it has been canceled twice before amid a battle with billionaire Carl Icahn. We should mention Icahn sued the company yesterday, hoping to force the vote today. As for Michael Dell, he has proposed upping his original offer of $13.65 a share by a dime, but only if voting rules are changed so that abstentions would no longer count as "no" votes. Shares of Dell are up 21% year-to-date, but they've retreated from that offering price of $13.65 since April as this battle has dragged on.
AIG (AIG) is up 5% in early trading. The insurer blew past earnings estimates, posting profits of $1.12 a share when expectations were for 85-cents. It did however miss on revenue. Looking beyond the quarter, the company announced a 10-cent dividend, its first since being bailed out in 2008. AIG is also launching a $1-billion share buyback program.
Weight Watchers (WTW) has dropped an astounding 14.7% of its mass since yesterday's close. After the bell the company reported earnings of $1.15 a share excluding items. That actually beat expectations as did revenues which came in at $465-million. But moving forward, the company lowered its full-year outlook and announced the resignation of CEO David Kirchhoff.
LinkedIn (LNKD) is up nearly 8% after reporting quarterly results yesterday afternoon. The company earned 38-cents a share compared to estimates of 31-cents. Revenue was also 10-million above expectations at $364-million. Traders seem to be ignoring the fact that LinkedIn gave guidance for the current quarter and the full year which disappointed analysts. Even before this morning's jump, LinkedIn shares have been up 89% year-to-date. They've climbed 128% over the past year giving the company a market cap over $23-billion.
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