Media, Publishing Units Would Split
News Corp. is considering a breakup, according to reports from the Wall Street Journal and Bloomberg. One company would focus on book and newspaper publishing, while the other would produce films and television. NWSA climbs 5 percent before the bell on my tradeMONSTER platform.
Apollo Earnings Beat Consensus
Apollo Group earned $1.20 a share in the third quarter, while analysts had expected just $0.97. Revenue was $1.13 billion, also ahead of the $1.12 billion consensus number. APOL advances by 4 percent in the premarket.
RedBox Costs Weigh on Coinstar
Coinstar has completed the acquisition of RedBox video kiosks from NCR. But it will have shell out $40-45 million to outfit the machines, which will reduce full-year earnings by $0.40 to $0.50 a share. CSTR by more than 3 percent before the bell.
Synnex Revenue Misses, Guidance Is Weak
Synnex's second-quarter revenue was $2.48 billion, missing the $2.51 billion estimate. For the current quarter, management sees profit of $0.91 to $0.95 a share, with revenue of no more than $2.65 billion. Analysts had expected $1 and $2.68 billion, respectively. SNX drops almost 4 percent in the pre.
FDA Nod Lifts Supernus Pharma
Supernus Pharmaceuticals said that the Food & Drug Administration tentatively approved commercialization of its Trokendi nervous-system drug. No further tests are required, although marketing issues still need to be worked out. SUPN surges more than 30 percent on the news.
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