NEW YORK (TheStreet) -- Electric motor company Harbin Electric (HRBN) reached a deal to be bought by $24 a share by Cayman Islands-based Tech Full Electric , a group led by Harbin's CEO. Harbin shares were surging 84.2% to $15.45 in premarket trading Monday.
Land drilling contractor Nabors Industries (NBR) expects its second-quarter operating income to be in the range of $165 million to $170 million. This is primarily due to lower-than-expected results from its pressure pumping, U.S. offshore and international businesses. Nabors shares were tumbling 4.2% to $23.03.
Financial firm ING (ING) has confirmed that it is in talks to sell its European car-leasing unit for what media reports estimate to be €4 billion ($5.7 billion). Shares were falling 2.4% to $11.44.
Troubled mobile phone maker Nokia (NOK) kicks off its annual Nokia Connection 2011 event on Tuesday in Singapore, where it will showcase it newest products. Shares were falling 2% to $5.90.
BlackBerry maker Research In Motion (RIMM) has been cut to underperform from market perform by Sanford Bernstein. Shares were falling 1.8% to $27.25.
PNC Financial Services (PNC) has agreed to purchase the U.S. retail banking unit of Royal Bank of Canada (RY) for $3.45 billion. PNC shares were down 0.9% to $57.30.
Conglomerate General Electric (GE) and its two largest unions have reached a tentative, four-year labor deal affecting more than 15,000 GE workers. GE shares were down 0.7% to $18.37.
Although analysts expect that Airbus, on its home turf, will win the Paris Air Show order battle, it's anticipated that Boeing (BA) will head into the show with more orders year to date, particularly on the widebodies. The show kicks off on Monday. Boeing shares were lower by 0.5% to $73.80.
Japanese electrical giant Panasonic (PC) said Monday it expects fiscal 2012 earnings of 30 billion yen ($373.7 million), a decrease of almost 60% from a year earlier because of the impact of the March 11 earthquake and tsunami. >>Search for Highest Dividends by Rate or Yield
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