Here is a look at some of the stocks the Yahoo Finance team will be watching for you today.
A couple of deals have fallen apart. 21st Century Fox (FOXA) shares rose in the premarket, while shares of Time Warner (TWX) fell before the bell. Rupert Murdoch said he would no longer pursue a takeover of Time Warner. In a statement, Murdoch said Time Warner's refusal to engage with his company, as well as a drop in 21st-Century Fox's stock price since the bid was made public, led the company to withdraw the takeover offer. Separately, Time Warner, reported earnings that beat estimates, but revenue fell short of expectations.
Sprint (S) shares tumbled in early trading and T-Mobile (TMUS) also tanked before the bell. Sprint abandoned its pursuit to takeover T-Mobile. Regulators reportedly resisted the deal because there would be fewer companies to compete against Verizon (VZ) and AT&T (T) , and it would leave customers with fewer choices. Last week, France's Iliad made a $15 billion bid for a 56% stake in T-Mobile. Iliad is reportedly planning to raise that offer. Sprint also announced it would replace its CEO, bringing in board member Marcelo Claure to run the company.
Groupon (GRPN) shares tanked before the bell. The daily deal e-commerce site reported adjusted earnings that matched analysts' estimates, but revenue fell short of expectations as the cost of marketing and building new product lines grew. The company also expects earnings in the current quarter to miss estimates.
Walt Disney (DIS) reported earnings and revenue that topped analysts' estimates. Profits rose 22%, while revenue jumped 8% from a year earlier. The company benefited from box office hits, like "Captain America,” higher attendance at U.S. theme parks and strong sales of merchandise tied to its mega-hit "Frozen."
Viacom (VIAB) posted earnings that came in a penny short of estimates. Revenue also missed expectations, down more than 7% from a year ago due largely to a big drop in sales in its filmed entertainment business.
- Investment & Company Information
- Company Earnings
- Time Warner
- Rupert Murdoch
- 21st Century Fox