RadioShack looks for ways to ease restructuring; Alibaba nabs new title; Tesco accounting blunder

Here is a look at some of the stocks the Yahoo Finance team will be watching for you today.

Alibaba shares (BABA) fell ahead of the bell after the stock surged 38% on Friday on its first day of trading on the New York Stock Exchange.  The Chinese e-commerce giant sold additional shares of the company, increasing its offering size by 15% to $25 billion, making it the world’s biggest IPO. Bankers for Alibaba exercised the so-called “greenshoe” option to sell more shares on strong demand. Yahoo (YHOO), our parent company has a roughly 16% stake in Alibaba post IPO.  Bank of America and Sanford Bernstein both downgraded Yahoo's stock this morning.

Dresser-Rand (DRC) shares were higher in early trading after German engineering group Siemens said it would buy the U.S. oil-equipment maker for $7.6 billion, or $83 a share. The deal will help Siemens expand its oil and gas business in North America.

AutoZone (AZO) shares are slightly lower before the bell. The auto parts retailer reported earnings per share that beat by $0.02, but revenue was slightly shy of estimates. Sales fell 1.5% from a year earlier. However, domestic same-store sales rose 2.1%.

RadioShack (RSH) grabbing headlines once again. The troubled consumer electronics retailer said it’s in talks with major vendor over potential changes that could lead to a restructuring. Earlier this month, RadioShack said it was exploring options for new capital to avoid a bankruptcy.

Tesco (TESO) also on investors’ radar after the British supermarket chain said it overstated its latest profits due to an accounting error. The company has appointed independent auditors from Deloitte to review the discrepancy. The announcement follows the recent departure of Tesco's Chief Executive and CFO after a string of disappointing results.

 

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