Boeing Lands an Order and Netflix Moves Up in the World: Morning Buzzers
U.S. stock futures declined on Friday morning. A labor market report from Europe showed that unemployment in the euro area increased to a record 12.2 percent in March, weighing on global investor sentiment. The U.S. Bureau of Labor Statistics reported that personal income decreased by less than 0.1 percent in April, and that disposable personal income decreased 0.1 percent. Personal consumption expenditures decreased by 0.2 percent.
Stuck futures at 8:30 a.m.: DJIA: -0.52%, S&P 500: -0.54%, NASDAQ: -0.49%.
Here’s what’s buzzing on Friday morning:
Dell Inc. (NASDAQ:DELL) has issued a letter to its shareholders recommending they vote yes on an offer from founder and former CEO Michael S. Dell. Dell teamed up with investment firm Silver Lake and has offered to buy the computer company for $13.65 a share, a deal that would total $24.4 billion.
Netflix (NASDAQ:NFLX) is set to become the newest member of the NASDAQ 100. The company is set to replace over-the-counter pharmaceutical maker Perrigo (NASDAQ:PRGO) on June 6. NASDAQ gave no reasons for the change.
Proctor and Gamble (NYSE:PG) is already making plans to replace recently re-hired CEO A.G. Lafley after Lafley’s 2 to 3 year stay in his former position is up. The company is reorganizing its brands into 4 sectors, each of which will be headed by a President, a role from which P&G can determine which executives would be the best fit for CEO. Lafley recently replaced his own successor, Robert McDonald, as CEO of the company.
Boeing Co. (NYSE:BA) has received an order for 60 of their 737 MAX jets from British travel company TUI Travel. The deal is worth $6.1 billion and includes an option for another 90 planes. The 737 MAX is the latest model in the 737 family and is scheduled for its first delivery in 2017. The crafts will be powered by LEAP-1B engines made by CFM International, which is partly owned by General Electric (NYSE:GE).
Clearwire Corp. (NASDAQ:CLWR) was supposed to vote on recent purchase offers from Sprint Nextel Corp. (NYSE:S) and Dish Network Corp. (NASDAQ:DISH) in a shareholders’ meeting today, but the meeting and the vote have been postponed until June 13 so that the company can better consider offers from the two companies. Dish has been pushing hard for the buy, and recently upped their offer to $4.40 a share, a dollar more than Sprint’s last offer.
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