Thu, Jul 18, 2013 10:30 AM EDT 1:15
Dell shareholders will have another week to consider whether Michael Dell's $24.4 billion buyout deal is worth taking. Just hours before the company was to hold a vote on whether it should be taken private, Dell announced that it has postponed that vote. Solid earnings gains at major U.S. companies are driving stocks higher in early trading on Wall Street. The advance put the Dow Jones industrial average and the Standard & Poor's 500 index back into record territory. Nokia noted declining revenues and overall unit sales in handsets, but also improving operating profits -- cross currents that point to a company still doing quite a lot of cost cutting to right-size itself. And in its earnings statement, Nokia added one more detail indicating that this cutting exercise will continue to be played out in the quarters ahead: up to 440 jobs will be cut in its mobile phones division -- that is, the legacy part of its devices business that does not include smartphones.