NEW YORK -- Softbank reached a deal Monday to acquire a 70% stake in Sprint Nextel S for $20.1 billion.
The deal is expected to be completed by the middle of 2013.
Sprint is the No. 3 wireless provider, behind AT&T T and Verizon Wireless. The deal will give Sprint more capital to use to compete against its much bigger rivals.
Softbank Reaches Deal to Buy Sprint for $20.1B
Citigroup C , the third-largest U.S. bank, is expected by analysts Monday to report third-quarter earnings of 96 cents a share on revenue of $18.7 billion.
The estimates exclude the previously disclosed $2.9 billion writedown of the bank's 49% stake in Morgan Stanley Smith Barney. Accounting gains/losses stemming from the revaluation of the bank's debt (DVA/CVA) have also been excluded from earnings forecasts.
Citigroup's Bottom Line Needs a Housing Bottom
Amazon.com AMZN is in advanced talks to buy the mobile chip business of Texas Instruments TXN , according to Calcalist, an Israeli financial newspaper.
Discount broker Charles Schwab SCHW is seen earning 17 cents a share in the third quarter on revenue of $1.2 billion.
Gannett GCI , the publisher of USA Today, is expected by analysts Monday to earn 53 cents a share in the third quarter on revenue of $1.29 billion.
WD-40 WDFC is expected to report quarterly profit of 70 cents a share on revenue of $95.5 million.
-- Written by Joseph Woelfel
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