Stocks to Watch: Clearwire, P&G, OmniVision
NEW YORK -- Clearwire (CLWR) said it will delay a meeting scheduled for Friday to vote on Sprint's (S) buyout offer of $3.40 a share, following a counter bid from Dish Network (DISH) of $4.40 a share.
Clearwire said the meeting would reconvene on June 13. Meanwhile, the company said it would talk to Dish about its offer.
Dish's offer on Wednesday valued Clearwire, the wireless company, at $6.9 billion. Sprint's bid of $3.40 a share is for the half of Clearwire it doesn't already own.
Procter & Gamble (PG) plans to elevate four senior executives to new top roles, a move that would publicly identify candidates to succeed returned CEO A.G. Lafley, people familiar with the matter told The Wall Street Journal. Lafley came out of retirement last week to replace Robert McDonald as CEO. He isn't expected to stay for more than two or three years, and one of his top priorities is to prepare a lineup of P&G executives who could replace him, people close to the company told the newspaper.
OmniVision Technologies (OVTI), the semiconductor company, posted strong earnings on Thursday and guided well above analysts' estimates. For the first quarter of fiscal 2015, OmniVision said it expects earnings between 35 cents and 52 cents a share; it expects sales of between $355 million and $390 million. Analysts are looking for earnings of 28 cents a share on sales of $347.2 million. OmniVision Posts Huge Earnings Beat
Splunk (SPLK) raised its full-year revenue outlook on Thursday, but forecast negative second-quarter operating margins as it continues to invest heavily in data platform, content and Software-as-a-Service offerings. Splunk predicted second-quarter operating margin of between negative 4% and negative 6%. Splunk Falls on Mixed Outlook
Lions Gate (LGF) on Thursday posted fiscal fourth-quarter earnings and revenue that topped Wall Street's expectations as it benefited from home video sales of the finale to its "Twilight" franchise.
Sony (SNE) has hired Morgan Stanley and Citigroup to help evaluate options for its entertainment business, CNBC reported. Hedge fund manager Daniel Loeb has proposed that Sony spin off up to 20% of its movie, TV and music division.
-- Written by Joseph Woelfel
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