NEW YORK (TheStreet) --Accenture (ACN), the provider of management consulting and technology services, is being added to the S&P 500, replacing Marshall & Ilsley (MI) at the close of trading on July 5. Shares of Accenture were popping 5.3% to $60.86 in premarket trading Tuesday.
Sports apparel company Nike (NKE) reported fiscal fourth-quarter earnings of $594 million, or $1.24 a share, for the three months ended May 31 on revenue of $5.77 billion, up from a year-ago equivalent profit of $522 million, or $1.06 a share, on revenue of $5.08 billion. Shares were spiking by 4.5% to $85.25.
Engineering conglomerate Siemens (SI) said a payment to former nuclear joint-venture partner Areva NP will weigh on earnings in the current quarter, although it expects to report a significant increase in orders. Siemens noted that earnings would be impacted by a ruling in May that it must pay €648 million ($920 million) , plus interest, to France's Areva over its decision in 2009 to pull out of a joint venture to build nuclear plants. Shares were falling 2.7% to $128.40.
Microsoft (MSFT) was expected to move up the release of its next version of Windows to April 2012 from the fall. There's also been buzz about cloud versions of its Office software suite. Shares were trading up 0.2% at $25.25.
Internet search giant Google (GOOG) is facing a €295 million ($419 million) lawsuit from French Internet giant 1plusV over unfair competitive practices in France. Shares were down 0.1% to $482.19.
Tower Group (TWGP), the property and casualty insurance products company, said it expects weather-related losses will reduce its second-quarter earnings by 13 cents a share.
QuickBooks provider Intuit (INTU) has acquired mobile Web banking technology assets from Mobile Money Ventures, a provider of next-generation mobile financial solutions. Financial details of the deal weren't revealed.
Food and beverage giant PepsiCo (PEP) is launching the first new advertising campaign for its flagship Pepsi-Cola in three years, as it tries to boost U.S. soda sales and regain momentum against rival Coca-Cola (KO), The Wall Street Journal reported. The company wants to spend roughly 30% more this year on TV advertising for its North American beverages products, focusing on sodas, the report said.
Legg Mason Capital Management Value Trust reveals that it sold 18.2 million Eastman Kodak (EK) shares near the end of last year and in the first quarter for roughly $3.89 a share on average; this is much lower than the $100 a share value that the fund's head asset manager, Bill Miller, calculated several years earlier.
Natural gas company Southern Union (SU) said it will engage in merger talks with integrated natural gas company Williams (WMB) even after rival bidder Energy Transfer Equity (ETE) attempted to prevent the talks. -- Written by Andrea Tse in New York.
>To contact the writer of this article, click here: Andrea Tse.
>> 5 Worst-Performing S&P 500 Stocks of 2011
>> Goldman Sachs' Best Tech Stocks for 2011
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV