Sears profit; Tyson's beef problem; Goldman's legal costs
Here are some of the stocks the Yahoo Finance team will be watching for you today.
Sears Holdings (SHLD) The parent of Sears and K-Mart says it expects to make its first quarterly profit since 2012, thanks to the spinoff of its properties to a new real estate investment trust. In a preliminary report ahead of its earnings release, Sears also says sales at U.S. stores open at least a year sunk 10.6% so far in the period. The company says they were dragged down by weakness in consumer electronics demand.
Tyson Foods (TSN) The largest poultry supplier in the U.S. came up short on both earnings and revenue in its fiscal third quarter. But don't blame the chickens. Tyson points to higher prices and softness in demand for its beef products. And the company warns full year earnings will come in short because of beef market conditions.
Goldman Sachs (GS) The financial giant is raising the high end of its potential legal costs related to the financial crisis by more than $2 billion. In an SEC filing, Goldman is increasing the ceiling for settlements to $5.9 billion. Back in May, it estimated those costs to top out at $3.8 billion.
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PartnerRe (PRE) The reinsurance provider is being purchased by Italy's Exor for almost $7 billion. The more than $140 a share price tag values PartneRe at a half billion more than Exor's original offer back in April. As part of the agreement, PartnerRe will pay Axis Capital $315 million to break off their previously-negotiated amalgamation deal.
Nokia (NOK) The Finland-based company is selling its HERE mapping system to German automakers BMW, Audi and Daimler for $3.1 billion. Analysts say its an effort by the luxury carmakers to add the technology needed for them to eventually build self-driving vehicles. The move helps Nokia focus on its network equipment business.
HSBC (HSBC) Europe's biggest bank is selling its struggling Brazilian operations to Banco Bradesco for $5.2 billion. HSBC announced last month it would reduce costs by cutting 50,000 jobs worldwide, in part by shedding its businesses in Brazil and Turkey.
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