Qihoo 360’s entry leads Citron Research to suggest that Sohu (NASDAQ:SOHU) could become a likely takeover target as its Sogou unit is the 2nd search player after Baidu. Shares of Sohu are on a rally.
As its patent sale seems to be non-starter, Kodak (EKDKQ) may sell its document imaging business and print film business to raise cash. The company anticipates that sales are likely to close in the first half of 2013. Shares are up strongly on the announcement.
Production at Honda (NYSE:HMC) is bouncing back after the manufacturing disruptions last year due to natural disasters. Consumers are lapping up the automaker’s Accord, Civic, and CR-V models in North America for their fuel efficiency and affordability. A company exec estimates that August sales in the U.S. could be higher by 40 percent in August, and 27 percent for the year as a whole.
ResCap seeks a further nine months, over and above the current due date of September 11, to file its bankruptcy plan, while its mortgage servicing assets are the subject of an intense battle between Berkshire (NYSE:BRKB) and Nationstar (NYSE:NSM), among others.
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