Weak demand in Europe and volatile currencies led Lexmark (NYSE:LXK) to revise lower its guidance for FQ2: EPS is now expected in the range $0.87 to $0.89 which analysts expected to be $1.00 ; revenues for FQ2 are expected to fall 12 percent y-on-y to an estimated $919.6 million against a consensus estimate of $960.8 million.
According to an FT report, Lloyds (NYSE:LYG) maybe close to selling 630 branches to The Co-operative Group for about 1 billion pounds at the most, as an unfavorable economic environment renders previous estimates of 1.5 billion pounds unworkable. Even the lower price may have two components – an upfront amount and the rest in performance-based payments.
The U.K.’s Takeover Panel finally intervened in the seemingly interminable takeover battle over Cove Energy, and set Monday as the deadline for final offers by Shell (NYSE:RDSA) and Thailand’s PTT, the rival bidders. In the absence of an acceptable bid, an auction will commence the next day.
In some plain-speaking at an interview with WSJ, Liberty (NASDAQ:LMCA) Chairman John Malone bares his troubles with Sirius (NASDAQ:SIRI) chief executive Mel Karmazin: chiefly, Sirius’ opposition to his assuming control of the company, despite the 2009 lifeline of several hundred million dollars given to save Sirius, and secondly, on how Sirius is to be run – “From our side, we would probably put a little more money into technology [and] be a little more concerned about the future,” Malone said.
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